(a) the total amount and time needed to fully pay off their debts if they pay only the minimum payment each month; and
(b) the amount of debt that would accumulate by the end of 6 months if they make no payments in the next 6 months.
Why is this only disclosed to borrowers who have not paid their unsecured debts in full in the prior month?
The customised disclosures are less meaningful for the vast majority of borrowers who repay their credit card bills in full. As such customised disclosures entail costs, MAS requires them to be provided only to borrowers who are at risk of incurring substantial borrowing costs.