Credit card holders 'could pay minimum direct debit to avoid late payment bills during postal strike'
Credit card holders have been warned they could face a cumulative late payment bill of £150 million due to the postal strike, it has been reported.
Credit card holders 'could pay minimum direct debit to avoid late payment bills during postal strike'”
The strikes have meant that cheques have not been reaching credit card providers on time.
According to the Daily Express, if credit card firms charge up to £12 a month for late payment, the average borrower with two credit cards could lose £24 this month.
A total of 13.1 million cards are paid off by cheque sent through the post before the penalty deadline.
It has been suggested those who normally pay by cheque could consider paying the minimum repayment by direct debit to ensure they are not affected by the strike action.
Meanwhile, Nick Britton, editor of GrowthBusiness.co.uk has suggested small and mid-sized businesses are already suffering major disruption as a result of the postal strike.
"A nationwide walk-out would put critical strain on tens of thousands of companies which are already labouring under tough trading conditions and cash flow problems," he said.
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