Low minimum payment

MissG80

I have a credit card at 0% Barclay Card and the minimum payment on 5000 is about 185 a month. I read somewhere they were cutting the minimum payments but that hasn't been applied. Is there a way of finding out the minimum payment before applying for a balance transfer? Or do I contact Barclays and ask for this new minimum payment rate? I do plan to pay more but would be helpful ATM.

JGB1955

There's some info here: Barclaycard to cut minimum repayments – Martin Lewis analysis (moneysavingexpert.com)

Brie

I quite get why paying as little as possible even for a short time might be preferred.  But I do agree with the article which states that you are better off setting a specific amount to be paid back.  I'd recommend that even if it was just a little round up from the minimum.  For one thing not only does it pay the balance back quicker it also shows on your credit history as you NOT paying the minimum which might make you a better risk for the next creditor you apply to. 

I've done this in the past where say my minimum was £185 and I've rounded it up to £190.  After a few months my minimum will have dropped to say £178 so I might change the fixed amount to £180 and so on.