Legal Question in Credit and Debt Law in Pennsylvania
if the amount i pay over minimum' does it go to higher balance first
Asked on 6/01/10, 3:27 pm
1 Answer from Attorneys
I assume you are referring to a credit card on which you may have an introductory low rate on some balances and a regular rate on others. Review the fine print in the offer. Credit card companies have this worked out so it benefits them, not you. Chances are, they will apply payments to the lower rate and collect the higher rate.
For the future, if you do take advantage of a low rate, never use it for big purchases. If you have to use the card, buy a tank of gas or use it for groceries only.
If you want me to review your documents, feel to free to contact me.
Rachel Hunter
Attorney at Law
(678)-687-9693
Answered on 6/02/10, 12:34 pm