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    • I subscribe to a company called Audible - they are owned by Amazon and they provide audio books. I work as an HGV driver and so I find listening to a book is great for swallowing up the long distances being travelled on the road.   Quite recently, I bought a book and it is proving to be an eye opener in relation to the subject of weight loss. One of its main topics is to discover why so many of us are 'obese'. In the book the author (who seems to be a respected Doctor and researcher) goes on to say that the human body itself is responsible for gaining weight and it is not because of people with low willpower. It also shines a light on what food companies have been doing over the last 40 or so years which has contributed to the existing obsity problem.   I put it out here because I think it would be a great read or listen for those, who like me want to lose weight and keep it off.   It may be better to obtain the printed copy of the book because there seems to be graphs and pictures which I am not able to view because its an audio book.   The book is called: The Obesity Code Unlocking the Secrets of Weightloss by Dr Jason Fung.   I have not finished the book yet so I have not got to the conclusions bit but I notice by doing an Amazon search that there is also an Obsity Code Cookbook so that will be my next purchase.   I will say that what I have heard from the book so far, it seems very balanced and it looks like common sense mixed in with practical advice which will undoubtedly help a lot of people.   I will let you all make up your own minds about it though.   Regards   Alan
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Clydesdale Mastercard Minimum Payment Lower Than Interest

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I regularly get statements from Clydesdale Mastercard where the interest charged per month is higher than the minimum payment; there is a regular debit of £3, but aside from that, there is no use on the account (their pin change service has always resulted in the card not working).

 

The interest is around £10 more than the payment. Is this actually allowed?

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I thought that the minimum payment had to cover the interest plus something off the actual debt ?

 

I will try and find out for sure though.


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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

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Hi,

 

Apparently accounts that are already open will likely see this type of thing happening.. One of the site team found the pdf below, where a consultation into this type of problem prompted change where..

 

Payments would be applied to the highest interest attracting debt first.. and the minimum payment will always cover at least interest, fees and charges, plus 1% of the principal.

 

 

Sadly, it will/does only apply to new accounts.

 

 

 

For consumers opening new accounts the minimum payment will always

cover at least interest, fees and charges, plus 1% of the principal.

 

 

This means that some minimum payments on new accounts will be higher in future

to ensure that at least 1% of the loan itself is paid off as well as the interest

and any fees and charges incurred. US based firms already have to do this in

the UK, and this agreement will level the playing field. We want to encourage

more responsible borrowing and lending in future, but have seen from the

 

consultation evidence that it could be harmful to apply this increase to existing

accounts.

 

[ATTACH=CONFIG]40049[/ATTACH]


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1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

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2: Take back control of your finances -

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3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

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5: Forum rules - These have been updated -

Please Read

 

 

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2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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This is one of Clydesdale banks credit card tricks to sink you into permanent debt slave. This is the third time I've read about this. Did they also:

1. Automatically raise your credit card limit?

2. Gradually increase your monthly interest rates over the years?

3. Automatically sign you up for PPI?

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I wonder if it might be worth closing the account and trying to come to an arrangement to repay the outstanding balance. As them to freeze interest rates and suggest that they appear to be using their repayment model as a way to keep you in debt ! Which is treating you unfairly and contrary to the Lending Code.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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I wonder if it might be worth closing the account and trying to come to an arrangement to repay the outstanding balance. As them to freeze interest rates and suggest that they appear to be using their repayment model as a way to keep you in debt ! Which is treating you unfairly and contrary to the Lending Code.

 

I tried that :) Asked about taking out a low interest loan 1.5% APR, and paying off the high interest 20% credit card debt. They wouldn't let me. Even their online banking website is advertising "gold Mastercard with 16% APR" only available to new customers. Better to see if you can find a different credit card company where the first six months are 0% interest.

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