LOW mmr card

wiggler

At the moment i have a virgin card at 0% interest and with a minimum repayment of £25 a month, in five months my payment will revert to 3% of the balance (circa £90)

Since i got the card though my wages have gone down i should be able to meet this £90 but may struggle, anyone have any ideas on a card with low interest and low minimum payments


I understand that minimum payment arent a good idea but i have a loan that will expire in 15 months which will then free up £200 a month which i can then use to smash that debt down

binaryuniverse

Halifax is 1%

michaelvintner

I may be wrong but the Virgin card is issued by MBNA. Their minimum repayments are normally the interest plus £5. For example your interest is £56 plus £5 would make your minimum repayment £61.

I have both a Sony Card and a MBNA reward card issued by them and the minimum repayments both work the same way.

Having said that I have a halifax card and the minimum on that is 1% as binaryuniverse stated.

wiggler

Thanks for both your help. Will look at the halifax one first got about 5000 on two cards both at 0% providing credit check is ok think thats way to go. It should be ok but with the credit crunch despite having a good to excellent rating you never know.