(information supplied from Money Saving expert) – see link at bottom of the article
Check your Barclaycard statement to see if your minimum monthly repayment has increased.
Many Barclaycard customers will see their credit card minimum monthly payment jump – in some cases by 50%, or even more – as part of a major overhaul that comes into effect this week. For many, higher repayments are a good thing, as you clear debt quicker and pay less overall, but it can also hit cashflow and give you less flexibility. We’ve full help below on what you can do if you can’t afford the increases.
Barclaycard first notified customers in November 2020 that it would change the way it calculates minimum payments, ie, the lowest amount you can repay on your card each month