abbey minimum payment

honeyprickle

Hi

Can someone help me understand this?
I took out the Abbey 0% on balance transfers card in May of this year,(13months interest free) the minimum payment was £5, I decided to up the direct debit to £50 per month just so that it would be paid off early everything going to plan until this month when my minimum payment has shot up from £5 to £111.10 (balance on card £4,987) I cant get my head around this as my balance is lower than last month and I havent spent anything on the card since I got it. Also my husbands card was the same his minimum payment went from £5 (his direct debit was for £100) to £237.37 (balance on card £10,549) I know this does work out at 2.25% on the balance but its always been that so why how and why has it changed

Regards

Confused Abbey Customer (not for much longer if this is right):mad:

NickX

The Terms and Conditions changed as of 6th October 2008.

You should have received a leaflet about the changes in September.

Previously you paid the LESS of £5 or 2.25 of the Statement Balance.

Now you pay the GREATER of £5 or 2.25 of the Statement Balance.