This article is for the following products:
- 2% of your total balance*; or
- An amount equal to:
- Double that month’s interest, plus
- Double any default charges due; or
- £25, or the whole balance shown if it is less.
*The total balance calculation will include 2% of any instalment plan balances you have on your account. Also, it will exclude any annual card fees you are due to pay.
In all cases, if we change your Minimum Payment under section 9.2, your Minimum Payment will always be that amount if that is higher.
If you are paying us back on a temporary payment arrangement, your Minimum Payment will be the amount we’ve told you to pay back each month.
• £25, or the entire balance if it’s less than £25
• The interest, any default charges and annual card fee, plus 1% of the remaining balance
• The amount we tell you under section 9.2 of your agreement. This might happen if your account is in ‘persistent debt’. That’s where you’ve paid more towards interest, fees, and charges than the amount you’ve borrowed from us over the past 18 months. We'll get in touch first before anything changes
The minimum payment must be in your account by the payment date shown on your credit card statement. You’ll lose any promotional rates if you don’t make the minimum payment.
Your minimum payment assumes you pay back all your instalment plans over 12 months. Paying the minimum takes longer and is the most costly way of paying off what you owe. Paying more than the minimum helps you save money on the overall cost and pay off what you owe faster.
If your spend is less than £30 that month we ask you to pay this off in full.