Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • mrs T
    • By mrs T 16th Oct 19, 8:04 PM
    • 1,002Posts
    • 1,186Thanks
    mrs T
    Santander
    • #1
    • 16th Oct 19, 8:04 PM
    Santander 16th Oct 19 at 8:04 PM
    Anyone else had a letter from Santander changing CC t's and C's to say if you consistently only make the minimum repayment they may up the repayment they ask for or even suspend your account? Sounds bad news for stoozing.
Page 1
    • MovingForwards
    • By MovingForwards 17th Oct 19, 12:06 AM
    • 2,511 Posts
    • 2,972 Thanks
    MovingForwards
    • #2
    • 17th Oct 19, 12:06 AM
    • #2
    • 17th Oct 19, 12:06 AM
    It's called persistent debt and there are plenty of threads about it.
    • surreysaver
    • By surreysaver 17th Oct 19, 2:39 PM
    • 2,933 Posts
    • 1,625 Thanks
    surreysaver
    • #3
    • 17th Oct 19, 2:39 PM
    • #3
    • 17th Oct 19, 2:39 PM
    Surely if its a 0% interest debt, they would realise that someone is only paying the minimum to take advantage of the 0% rate, and this would only apply if you are paying interest on the debt?
    I consider myself to be a male feminist. Is that allowed?
    • nic_c
    • By nic_c 17th Oct 19, 4:31 PM
    • 2,161 Posts
    • 1,131 Thanks
    nic_c
    • #4
    • 17th Oct 19, 4:31 PM
    • #4
    • 17th Oct 19, 4:31 PM
    Guess the OP has just read T&C and got 1+1=3 it is persistent debt so doubtful anyone on a 0% promo. Anyway surely you pay 1 above the minimum to stop the minimum payment marker.
    • mrs T
    • By mrs T 17th Oct 19, 7:25 PM
    • 1,002 Posts
    • 1,186 Thanks
    mrs T
    • #5
    • 17th Oct 19, 7:25 PM
    • #5
    • 17th Oct 19, 7:25 PM
    This is on my Santander cc which has 18 months 0% still running. I used it for a planned large purchase not for stoozing and pay well over the minimum each month but I think this is a general change to all Santander cc's.
    Last edited by mrs T; 17-10-2019 at 7:33 PM.
    • Vortigern
    • By Vortigern 17th Oct 19, 9:06 PM
    • 2,823 Posts
    • 1,952 Thanks
    Vortigern
    • #6
    • 17th Oct 19, 9:06 PM
    • #6
    • 17th Oct 19, 9:06 PM
    I think this is a general change to all Santander cc's.
    Originally posted by mrs T
    This is a general change on ALL credit cards, not just Santander.

    If you're on a 0% deal, they will not apply the persistent debt rule.
    • Ben8282
    • By Ben8282 17th Oct 19, 9:12 PM
    • 3,889 Posts
    • 2,138 Thanks
    Ben8282
    • #7
    • 17th Oct 19, 9:12 PM
    • #7
    • 17th Oct 19, 9:12 PM
    You have provided only a very brief summary of the contents of the letter. W would need to read the full text to form an opinion. However, I think it unlikely that those on 0% promotional rats would be affected because of the way that persistant debt is defined and determined.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,466Posts Today

8,149Users online

Martin's Twitter