Minimum payment 23 May 2019 at 12:41PM edited 30 November -1 at 1:00AM in Credit Cards 8 replies 902 views

Sncjw

Hi all

I have a Barclay card platinum for purchases and I have 28 months at 0% offer. Now I normally pay my clarity off in full but I want to use my Barclay card so I spread cost if I have a tricky month.

Now with minimum payment will they mark it as such on a 0% deal. I am saving to buy a house and don’t want that to affect it too much.

Willing2Learn

Allegedly the account will be marked with a 'promo' marker, so there should not be a negative impact of making minimum payments (in theory).

But when I look at my three credit files, I do not see any such marker on my credit card promotions. I would just pay a small amount extra every month by Standing Order to be on the safe side.

Ben8282

Pay slightly over the minimum then there will be no risk of such a marker. Problem solved.

Candyapple

Sncjw wrote: »

Hi all

I have a Barclay card platinum for purchases and I have 28 months at 0% offer. Now I normally pay my clarity off in full but I want to use my Barclay card so I spread cost if I have a tricky month.

Now with minimum payment will they mark it as such on a 0% deal. I am saving to buy a house and don’t want that to affect it too much.

I managed to get my mortgage last year with numerous cards that were on 0% deals for many years and I only paid the minimum on them - never had any minimum payment markers. I think it was on Experian it showed them as being on a promotional rate. Either way, it never affected me.

foxy-stoat

You should be making more than the minimum payments, as you may find the lenders increasing the minimum payment percentage in line with new guildines.

Nasqueron

Do remember that promotional deals for purchases are rarely available for the full card period, often only the first 2-3 months or when they give you an offer

foxy-stoat wrote: »

You should be making more than the minimum payments, as you may find the lenders increasing the minimum payment percentage in line with new guildines.

With 0% deals I wouldn't have thought they would as you might want to BT again at the end for example

Sncjw

I rang and they said I have it for 28 months on purchases at 0%

Sncjw

I have noticed a strange thing that the card I have is suited for people who have Income over 20k yet I earn under that I got the card. Very bizarre

Willing2Learn

Candyapple wrote: »

… it was on Experian it showed them as being on a promotional rate.

Thanks for that. I hadn't 'found' the promotional markers before, but now I can see them