Goldfish Slashes Minimum Repayment
Credit card company Goldfish reduces its minimum repayment to 2%
9th May 2005
In a widely criticised move, the minimum monthly repayment on balances held on a Goldfish card has been cut from 3% to 2%.
Consumer group Which has described the change as 'irresponsible', as it will mean customers take longer to pay off their debt, and pay more interest along the way.
It's been calculated that the change results in over twice the amount of interest being paid before the balance is finally cleared.
The new repayment figure will take effect on 1st July 2005.
Read More: BBC Your Money
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