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Hnd Buisness Level 5

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Submitted By moham35
Words 1430
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Important Customer Information
Your Card

Important Customer Information
1. Is a credit card suitable for my needs?
A Debenhams credit card can be used wherever you see the MasterCard logo. It is suited to short term borrowing and would be an expensive way to borrow large amounts over a long period. It is an expensive way of regularly accessing cash.

Put Simply
A credit card can be expensive if used to borrow large amounts over a long period or used regularly to withdraw cash.

2. How much will I have to repay?
The total amount you have to repay depends on how much you spend on your card, how much of the balance you repay each month and the interest rate we charge you. Your Pre-Contract Credit Information contains an example of this. You must make at least the minimum payment shown in your monthly statement by the due date. The minimum payment is made up of interest, and any default charges plus 1% of the outstanding balance. Any arrears or amount over your limit are repayable immediately. You can pay as much as you like each month but if you don’t pay the full amount you will be charged interest which means it will take longer, and cost more, to repay the balance. You can set up a direct debit to pay the full balance, the minimum payment or a fixed amount each month.

Put Simply
You must pay at least the minimum amount requested each month but only doing this will take longer to repay and cost more over time.

3. What will happen to me if I do not keep up with repayments?
If you do not make the minimum payment we will charge a late payment fee of £12 as well as interest and the total cost of your debt may grow. Missing or late payments will be recorded at Credit Reference Agencies so obtaining credit could be more difficult and expensive in the future. If we register a default or you become insolvent this will remain on your file for 6 years. It

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