Direct Debits
If you have a direct debit set up for your monthly payments, you can cancel that via the mobile app or through Online Banking. You can still make one off payments every month to ensure you pay at least your minimum monthly payment.
Overlay
Existing customers
Coronavirus: credit card support
Paying your minimum monthly payment can help you reduce your costs in the short term, however it means that it would take longer to pay off your credit card debt. If you are able to pay more than the minimum monthly payment you could clear your balance sooner and prevent interest from building up.
Credit card payment break FAQs
Payment break examples
The following examples show how an initial 3 month payment break could impact your minimum monthly payments and balance over a year.
Important information
- The figures shown above are representative of an initial 3 month payment break, and are not reflective of an extension.
- The figures shown above are for illustrative purposes only and do not show what exactly will happen to your balance. The minimum payment in these examples are made up of 1% balance plus any interest charge
- The examples assume no additional spend on your account once the payment break has been applied. Any additional spend will increase your balance and your minimum payments after your payment break
- Your minimum payment at the end of the break will be determined by your balance, your interest rate and the amount that you spend. You can still make payments of greater than £1 while on a payment break, this will help you avoid higher interest charges and an increase in your minimum payments after the break.