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To balances
noun
A state in which opposing forces harmonise; equilibrium
Exact(18)
The writedown relates to balances that have built up over a number of years".
This means that credit card companies can apply minimum payments to balances with the lowest interest rates first, which many are doing.
They also restrict such lender practices as allocating all payments to balances with lower interest rates when a borrower has balances with various rates.
It would stop creditors from applying interest rates retroactively to balances incurred under an old rate, or charging late fees for checks mailed days before the due date.
Nationwide's FlexDirect current account pays an impressive 5 per cent interest, but this is limited to balances up to £2,500 and after the first 12 months it falls to just 1 per cent.
Before many provisions in the Credit Card Accountability, Responsibility and Disclosure Act took effect earlier this year, credit card companies routinely applied customers' payments first to balances with the lowest interest rates.
Similar(42)
Just to balance the hurt.
Tried to balance that.
They want to balance the scales.
To balance that, the boot is capacious.
It all goes back to balance.
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