How is my minimum payment due calculated?

Each month, your minimum monthly payment will be the greater of:

  • The monthly instalment amounts due as payment for the balance of each of your promotional offers; plus the greater of:
  • £5; or
  • 2% of the outstanding balance (excluding all the balances of your purchases made using promotional offers) plus interest and default charges on the statement; or
  • All amounts due for payment in arrears.

If your outstanding balance exceeds your credit limit, the minimum payment will also include the excess amount. If your outstanding balance is less than £5, the minimum payment will be the whole amount owed.