Legal Question in Consumer Law in Massachusetts
I am currently paying over the minimum payment on a credit card.
This card has a high interest balance and a low interest promotional balance. They are applying the overage payment to the low interest balance instead of the high interest balance and I cannot get them to correct this situation.What do I do now?
Asked on 12/18/10, 5:14 am
1 Answer from Attorneys
Dmitry Lev
The Lev Law Firm
There may be nothing to correct. Most likely, your credit card agreement states that the bank can apply the payments any way they want. It would make sense if they apply it to low balances first, because then they could make more on interest.
Answered on 12/23/10, 7:34 pm
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