We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Working out minimum payment
Options
alicer87
Posts: 2 Newbie
in Credit cards
Hi all, I just got a 0% credit card with virgin. It has a balance of £3500. Please can someone help me work out the rough minimum payment due? I’m not good at working these things out! Thanks
0
Comments
-
The minimum payment is %1. So if the initial balance is £3500, the first payment will be £35. Since the new balance will be £3465, the next payment will be £34.65. And so on until the balance drops below £2500, when £25 will be taken from this point.1
-
Thanks very much for the reply. I understand this now1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.1K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards