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Originally Posted by abcde
im a bit confused here...
i will type out the whole thing..
*an account service fee of $2.95 will be charged to the account monthly if the closing balance on the statement date is $10 or more.except we will not charge this fee when the closing balance on the statement date consists only of a credit card purchase balance*
does this mean.. i only get charged this fee if i owe them money?(ie. if i pay all my balance in full before the due date,which is what i always do. then there are no fees?)
or does it mean.. ill get charged this fee. if i spend over $10 every month?
thanks
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Understand that the Go MasterCard (like the ColesMyer Source Mastercard) is actually two cards in one. So you need to understand when is something a Credit Card Purchase and when is something not a Credit Card Purchase.
In the terms and conditions you will find that a Credit Card Purchase is defined as
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credit card purchase means a purchase which is not and was not the subject of a promotional offer.
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So, based on this, the way I understand this is that if you take up a promotional offer (instalment interest free, buy now pay later, etc) you will pay the $2.95 a fee month. If you just use it for normal credit card purposes you will not pay the $2.95 fee.