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Allocation of payments?


dax47988
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Chaps

Some time ago, I took Lloyds TSB to court for unfair charges, and won about 1.5K off the thieving buggers. While researching the legality and procedures for doing that, I am sure I read on this site somewhere that when you make a payment to a Credit Card company, the regulations allow you to stipulate which part of the debt you are paying back.

 

For instance, if you take a cash advance of £500, you ask for your next payment to come off that £500, as the interest charged on cash advances is more than is charged on purchases.The problem is, I cannot remember exactly what the information was or where I saw it. I have spent the morning looking through the site, to no avail. Does this clause exist in a regulation? Did I dream it? Does this ring any bells with anyone?

 

Any help on this would be greatly appreciated. I could, of course, be completely wrong and no such clause exists.

 

dax

Edited by dax47988
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