Sometimes it feels like you need a degree in finance just to understand a monthly statement. On your statement each month, the minimum repayment will be the greater of:
3.5% of the Account Balance shown on your statement plus any amount you have spent over your Credit Limit plus any interest charges plus any Late Payment Fees plus any Cash Transaction Fees; or
and/or
any over limit amount
OR
A minimum of £10 (or the full balance shown on your statement if less than £10)
You can choose to pay back as much as you like, including the full balance owed each month. Setting up a Direct Debit is the easiest way to make sure you make your payment on time. You won’t have to pay interest on purchases for up to 51 days, as long as you pay them off your credit card by its payment due date. If you don’t pay your statement balance by this date, then interest is charged from the date you make your transactions, until they are paid off in full. Our representative example will show you what our representative APR is - that is what we expect at least 51% of our borrowers to get.