from payment plan back to normal

claire1011

hi
i am on a payment plan with barclaycard. in the next few months i hope to go back to being able to pay normal monthly payments of 2.5% of outstanding balance. i have never missed a payment. interest has been ssuspended for last three years. would i be able to go back to the account being in a "normal state" after a payment plan? i understand that interest would be re introduced. or would they just ask for higher payments until the balance is clear?
thanks

simax

They will re-introduce interest at the normal rate. I'd also be surprised if they didn't block further spending and insist the account is closed once cleared....

claire1011

that would be fine i just want to start to try and re build my credit score, curently its 220 with equifax.

[Deleted User]

Getting back to normal payments will definitely help rebuild your credit rating. But remember that the score from Equifax is irrelevant, just aim for good, regular account management.

claire1011

like i say i have never missed payments but it is recorded on equifax as "arrangment to pay", so if i can get back to normal im hoping my score will go up. i would like to think that in 5 years time i will be eligible for a mortgage and need a cleaner slate so to speak. in the next few months i will be in a much better financial position. in theory i could clear the balance £7k) by next march so maybe better off doing that and closing the account rather than asking to go back to normal payments??
thank you x