How much will I have to pay each month?
Hot Topics
- How can I keep my credit card secure?
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Like anything, a credit card can be stolen or used without your knowledge, so follow these simple rules to keep your credit card secure:
- How is interest calculated?
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Interest is calculated on a monthly basis on the outstanding balance if full payment has not been received.
- How can I pay off my balance?
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There are number of ways you can choose to pay off your credit card balance - either by Direct Debit, by Debit Card over the phone, by bank transfer from your bank or by cheque.
- Can I Have An Additional Cardholder On My Account?
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You can have one or more additional Cardholders on your credit card account with most companies.
- What is Sentinel® Card Protection Insurance?
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Losing your credit cards or having them stolen can be a real inconvenience, not to mention a worry – especially if you’re abroad. The Sentinel® Card Protection scheme takes all the worry away, and with just one free phone call from anywhere in the world Sentinel® will immediately inform all your card issuers that you need replacement cards should they be lost or stolen.
How much you have to pay back each month depends entirely on how much you owe – however the general rule for most credit card companies is that you either make a minimum payment of 2% of the balance or £5, whichever is the higher figure.
You can choose to pay anything between this figure and the full balance – and this is recommended because paying off only the minimum amount each month will not help to bring down your balance, and you will have to pay a lot more interest in the long run.
We recommend that if you have a large outstanding balance, you pay off as much as you can afford each month. The other way around paying interest is to transfer your outstanding balance to a new credit card with a 0% balance transfer rate – then you can pay off the balance without accruing further interest.
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