Minimum payment

Sncjw · 23 May 2019 at 12:41PM

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.

Willing2Learn · 23 May 2019 at 12:45PM

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.

Ben8282 · 23 May 2019 at 3:28PM

Pay slightly over the minimum then there will be no risk of such a marker. Problem solved.

Candyapple · 23 May 2019 at 4:12PM

Sncjw wrote: »

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.

foxy-stoat · 23 May 2019 at 4:16PM

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.

Nasqueron · 23 May 2019 at 4:42PM

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 offer

foxy-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 example

Sncjw · 23 May 2019 at 5:34PM

I rang and they said I have it for 28 months on purchases at 0%

Sncjw · 23 May 2019 at 5:45PM

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 bizarre

Willing2Learn · 23 May 2019 at 7:11PM

Candyapple wrote: »

… it was on Experian it showed them as being on a promotional rate.

Thanks for that. I hadn't 'found' the promotional markers before, but now I can see them

Minimum payment

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