Temporary Additional Support : Contents
Revolving credit payments
A revolving credit payment is a credit contract that may or may not have a credit limit. This will allow multiple purchases to be made and does not restrict what the client purchases.
Types of revolving credit can include:
- credit card purchases
- store card purchases (eg Farmers card)
Clients may include the following revolving credit payments in their assessment for Temporary Additional Support:
- essential household items
- a vehicle or
- a dryer
For more information see:
Payment amount
When a client has purchased an allowable item using a revolving credit payment the calculation for the assessment of Temporary Additional Support will:
- be a monthly payment of 5% of the purchase price of the item and
- be paid for a period which is the lesser of:
- 20 months from date of purchase or
- the term required to pay the amount owing under the contract at the time of application for Temporary Additional Support
For information about how to calculate this see:
Verification
The client must provide proof of the:
- item purchased to ensure it is an allowable cost
- purchase price
- purchase date and
- revolving credit balance at the time of the application
For more information see:
Legislation
- Interpretation section 5 Credit Contracts and Consumer Finance Act 2003
- Allowable costs regulation 71 Social Security Regulations 2018
