Originally Posted by Zetecfiesta
yeah but they have allready been reduced from 20 to 12 and tbh if you go over you limit shouldnt you get fined as thats why you have a limit? ive had my card from 18 and im 22 now and ive never had a fine or intrest! the way i see it is if i get fined im gonna make sure i dont go over limt again! my mum n dad have had cards since b4 i was born and have never paid fines or intrest either its just managing your account which isnt hard with all the options for paying
It doesn't matter, penalty charges are illegal full stop, it has been worked that the most costly thing for a bank is a bounced cheque and it costs them about £4 in admin, bouncing d/d's etc costs them about £2 and they are charging between £25-38 for this, as you say some have reduced it to £12 but this is still more than it costs them so it is a penalty charge which again is illegal