Change in Minimum Amount Due (MAD) computation logic: The Minimum Amount Due (MAD) computation methodology for your credit card billing shall be revised as follows:
Existing MAD computation logic:
MAD = 5% of (Purchases/ Cash Withdrawals) + 100% of (Interest/Finance Charge, All Fees, loans, taxes)
Revised MAD computation logic (effective 10th Nov 2023):
MAD = 2% of (Purchases/ Cash Withdrawals) + 100% of (Interest/Finance Charge, All Fees, loans, taxes)
