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Minimum payment
Sncjw
Posts: 3,562 Forumite
in Credit cards
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 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.
Mortgage free wannabe
Actual mortgage stating amount £75,150
Overpayment paused to pay off cc
Starting balance £66,565.45
Current balance £58,108
Cc around 8k.
Actual mortgage stating amount £75,150
Overpayment paused to pay off cc
Starting balance £66,565.45
Current balance £58,108
Cc around 8k.
0
Comments
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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.
I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job
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Pay slightly over the minimum then there will be no risk of such a marker. Problem solved.0
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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.I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0 -
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.0
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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 offerfoxy-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 exampleSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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I rang and they said I have it for 28 months on purchases at 0%Mortgage free wannabe
Actual mortgage stating amount £75,150
Overpayment paused to pay off cc
Starting balance £66,565.45
Current balance £58,108
Cc around 8k.0 -
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 bizarreMortgage free wannabe
Actual mortgage stating amount £75,150
Overpayment paused to pay off cc
Starting balance £66,565.45
Current balance £58,108
Cc around 8k.0 -
Thanks for that. I hadn't 'found' the promotional markers before, but now I can see themCandyapple wrote: »… it was on Experian it showed them as being on a promotional rate. I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job0
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