MBNA Summary box on min payments

craggs

I have loads of mbna cards,,and it used to say the lesser of £5 or somethin.
and i used them in financial difficulty,,say i had 4k in a 0% period it used to be £5 a month

anyway im in a little dificulty (again) at the moment and need a cheap monthly payment card,,ive just got a virgin card and am going to transfer £5k onto it,but they changed there summary box to the below,,does anyone know what the min monthly payment will be on this amount?

im in 0% period aswell


Ive read it as £25,,,

"If the balance shown on your statement is £25 or less, it will be the total amount of the statement balance; or
if the balance shown on your statement is more than £25, it will be whichever is the least of 3% of the statement balance or the total of any Payment Protection Cover charges, interest, handling fees and default charges plus £5, provided that it will always be at least £25."

Thanks for anyones help

MABLE

We have a MBNA card and we did a balance transfer to it for £4,000. and they just request a payment of £25.00 per month.

craggs

Thanks for that,,so should be the £25

really must try and get some help with my depts

W1zz

craggs wrote: »

Thanks for that,,so should be the £25

really must try and get some help with my depts

I've just got a VirginMoney card and like you've found out the min payment is £25 - But remember that you also have to pay your transfer fee on your first payment as well.

Easiest way is to setup minimum payment on your account via the VirginMoney website.