How are payments allocated to my humm90 account?

In compliance with government regulation, we always allocate your payments in your best interest. Payments are applied to items that incur or are due to incur the highest interest rate, then the lowest.

Paying the full closing balance or the ‘Alternative repayment to reduce interest’ shown on your most recent statement is the easiest way to avoid interest and unnecessary fees.

Here’s how we allocate your payments to your humm90 account:

• First, payments are applied to parts of your closing balance that remain owing and are attracting the highest interest rate.
• Then, to parts of the closing balance that attract the next highest interest rate and so on.
• If the same interest rate applies to multiple parts of your closing balance, we will apply payments to any part of the closing balance that will not begin to accrue interest at a higher rate at a future date (e.g. transactions due to expire from an interest free period or plan), then to the next oldest transaction and so on.
• And if interest is already accruing, we’ll apply payments to parts of the closing balance in the order in which they will first begin to attract a higher rate of interest.

Unless we otherwise agree, if a Promotional Offer applies, we will apply payments to the Promotional Offer that is due to expire first, and any remaining payment to amounts that have not yet appeared on your statement.