Santander Every Day Credit Card

spottydog2016

Could anybody please tell what the percentage minimum payment is for the Santander Every Day credit card and the Halifax MasterCard.  New on here, so apologies if asking a question that has already been answered.

jay1804

Santander is 1%.

spottydog2016

jay1804 said:

Santander is 1%.

Thanks very much for your reply

[Deleted User]

Generally, 1% plus fees and interest, subject to a minimum of £5 on both. But check your own terms in case they differ or are on an older product.

MallyGirl

Santander key facts:
https://www.santander.co.uk/assets/s3fs-public/documents/everyday_credit_card_kfd_jun_20.pdf
Minimum repayment - All default fees, monthly fee (if applicable), payment protection insurance premiums, and interest plus 1% of the remaining balance shown on your statement, plus any arrears payable (subject to a minimum of £5). 

spottydog2016

Thanks everyone for your help.

MallyGirl

I couldn't find a similar key facts doc for Halifax which is pretty poor really

MinuteNoodles

MallyGirl said:

I couldn't find a similar key facts doc for Halifax which is pretty poor really

"All default fees, monthly fee (if applicable), payment protection insurance premiums, and interest plus 1% of the remaining balance shown on your statement, plus any arrears payable " is a statutory government set legal minimum requirement for any credit card company.

MallyGirl

true but it might be more than that statutory minimum. My HSBC card has 2.5% of balance as a minimum payment.

Jakerrs

This is from my Halifax Clarity statement:

"Your monthly minimum payment will be an amount equal to the higher of £5 or the total of any interest charged, any default charges payable, 1/12th of your annual fee (if applicable), and 1.00% of the balance you owe shown in your statement. If you owe less than £5 you must pay the full amount you owe."