First Purchase Help

Kevlar66

If I were to make a purchase of £125 on a capital one card with 34.9% Apr what would my mind payment a month be?

Any help would be great!

Thanks

Kevlar66

Minimum payment*

thebritishbloke

Capital One is the greater of 1% of the balance, or £5. So in this case, it'd be £5.

Don't make minimum payments on that sort of APR, it's a slippery slope into debt. If you don't want to pay off £125 in full, you're setting yourself up for £1000's of debt in the future.

bengal-stripe

I haven't got a Capital One card, so I don't know their minimum payment. But most cards operate with 1% plus interest or at least £5.00. As it's a new card and your first statement, there is no interest due (yet) and the minimum is likely to be £5.00.

But interest will be due from next month on and will hit you very hard if you get into the habit of paying only the minimum. Pay the card in full every month, then the high interest rate shouldn't bother you.

grumbler

Kevlar66 wrote: »

If I were to make a purchase of £125 on a capital one card with 34.9% Apr what would my mind payment a month be?

Is it really your intention to borrow @35%:eek: APR for buying something?
Either pay the balance in full, or postpone the purchase until you can do this.

Minimum payment*

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