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Drop in minimum payment %...
dizzyblonde82
Posts: 475 Forumite
in Credit cards
Hi,
Not sure if anyone else has noticed this but whilst looking at my credit card balances and working out the best way to clear them I have noticed that there has been a drop in the % of your balance for the minimum payments.
My Lloyds TSB card and Santander card used to have a minimum payment of 2.5% or 3% but now they are only asking for a 1% minimum payment. (I always pay a lot more than the minimum!).
After putting my santander balance into the repayment calculator with the 1% repayment it just said that you would be dead before it would be cleared!
Sarah
Not sure if anyone else has noticed this but whilst looking at my credit card balances and working out the best way to clear them I have noticed that there has been a drop in the % of your balance for the minimum payments.
My Lloyds TSB card and Santander card used to have a minimum payment of 2.5% or 3% but now they are only asking for a 1% minimum payment. (I always pay a lot more than the minimum!).
After putting my santander balance into the repayment calculator with the 1% repayment it just said that you would be dead before it would be cleared!
Sarah
0
Comments
-
HI
I noticed this on my Santander Debenhams acct - very strange
considering MBNA will be increasing the min payment from April0 -
Well it is a minimum payment but the MBNA (and others) will include (as far as I can read) the interest + arrears + PPI etc.0
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