We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Who's got the cap one no interest card jan 2008? Minimum payment to high?
Comments
-
Cap 1 is 3% of o/s balance.
MBNA is Interest rate plus £5.
Therefore if you are on a 0% deal it's £0 plus £5 !
If your interest rate is 12% per year (1% per month), and you owe £10k then your minimum repyment would be £100 plus £5. Quite simple really.
Cancel you MBNA and re apply in a couple of months if you are struggling to pay £80+ to Cap one.
Back to MBNA your balance is NOT increasing as someone incorrectly pointed out, it's just you are paying it back slower. Personally I have both, wish I could afford 3% on £10k but I can't.nothing.0 -
Isn't there a 12 month wait before you can apply again?Tom_Saunders wrote:Cancel you MBNA and re apply in a couple of months if you are struggling to pay £80+ to Cap one.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards