If a credit card has a mmr of 5% (min £5) do I have to pay if I have no outstanding balance?
2006-12-10 06:42:42 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
no
If you have a balnace of £0.00 you are not expected to make a payment as you do not owe anything.
If you owed anything from £0.01 - £5.00 you would be expected to pay in full.
Anything from £5.01 and over you have to pay 5% (Min £5 )
2006-12-10 08:44:03 · answer #1 · answered by angie 5 · 1⤊ 0⤋
No,if you have an oustanding balance of 100 pound,then the mmr is 5% or 5 pounds,so if the balance is 1000 pound the mmr is 50 pound,but if the balance is zero,then 5% of 0 is???
2006-12-10 19:35:32 · answer #2 · answered by cal 2 · 0⤊ 0⤋
Your required payment can never exceed the balance on your account. If your outstanding balance was 2 pounds, your minimum payment would only be 2 pounds.
I don't know how to get the pound symbol on my US keyboard.
2006-12-10 09:02:48 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
no
2006-12-10 06:53:05 · answer #4 · answered by paul t 4 · 0⤊ 0⤋