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Legal Advice
Notice to credit cardholders on changes in computation and fees
By Persida Acosta
Sep 21, 2023 12:01 am

Dear PAO,

I have been a credit card user for almost five years now. For that duration, there have been no changes in the computation of my outstanding balance and imposable fees. However, as I have been browsing my Statement of Account, which I received yesterday, I noticed that my bank changed the computation of my outstanding balance and the fees that I was asked to pay. Is the bank allowed to change computation without prior notice to its credit cardholders?

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