What is a credit card minimum payment?

Find out how a minimum payment is calculated and when you need to pay.

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Updated

Jun 29, 2022

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On every credit card statement, you will see a minimum payment. While this may not seem like much compared to your overall debt, this amount could be encouraging you to spread your repayments over a longer period and costing you more interest in the long run.

What is a minimum payment and how is it calculated?

A credit card minimum payment is exactly what it sounds like – a minimum payment you must make on your credit card bill by a certain date.

Your bank or provider will work out this payment sum based on your overall account debt and your card’s interest rate.

At the end of each billing cycle, your bank or provider will send you a bill featuring all your recent transactions. Your statement will include the total amount you owe on your credit card, total transactions made during the billing cycle and your minimum payment for that billing cycle.

Banks and credit card providers set different monthly minimum repayments, which can usually be found in your “summary box”. Under UK rules, any credit cards taken out since April 2011 must set a monthly minimum payment of at least 1% of your balance. The table below serves as an example of how a card provider calculates its minimum payment.

Minimum payment example credit card bill

How can I pay the minimum payment?

You usually have 2 options to pay off your credit card bill every billing cycle.

Direct debit. You can set up a direct debit with your bank where you can specify that you’d like to automatically pay the full balance, a fixed amount or just the minimum payment every month. By setting up a direct debit, you’ll guarantee you will never miss a payment and won’t have to worry about penalty fees or damage to your credit record.
Manual payments. You can decide how much you want to pay every month – whether it’s the minimum payment, the full balance or somewhere in between. You can pay your credit card company via standing order or bank transfer. This method gives you greater control over how much you are paying, but you’re more at risk of missing payments so you need to make sure you can keep track of the payment deadline.

Should I pay the minimum payment or a larger amount?

It all depends on what you can afford. At the very least, you should make the minimum payment. However, by continuing to pay only the minimum payment, you will take longer to pay off your debt and are likely to incur higher interest fees.

To avoid paying unnecessary interest, it’s a good idea to pay your entire balance or something in between the minimum payment and your total debt.

As your outstanding debt reduces with every payment, so does the minimum payment required on every new statement. This means small balances on credit cards could take a long time to repay if you continued to make the minimum payments.

Example: Tom has a £4,000 credit card debt

Admin assistant Tom has run up a £4,000 credit card debt but can only afford the monthly minimum payments of £65.

If Tom continues to pay off his debt at 18.9% APR with the £65 monthly payments, it could take him 13 years to pay it off. Aside from paying back his debt amount of £4,000, he would end up spending a further £6,121 on interest.

A friend suggested he consider a balance transfer card, giving him a promotional 0% interest rate for 24 months, with a one-off fee of 1.4%. Under this offer, Tom could continue to make the monthly minimum payments of £65, but the interest break means he could pay a lot less overall and pay off his debt faster. The balance transfer offer means he could pay off his debt in 6 years and 7 months and only end up spending a further £1,169 on fees and interest. By transferring his debt to a 0% balance transfer offer, Tom would save £4,952.

* This is a fictional, but realistic, example.

Different types of credit cards explained

Compare cards by type

Table: sorted by representative APR, promoted deals first

Name	Balance transfers	Balance transfer fee	Purchases	Annual/monthly fees	Representative APR	Incentive	Link
Santander Everyday Long Term Balance Transfer Credit Card	0% for 28 months reverting to 21.9%	3% (min. £5)	0% for 3 months reverting to 22.9%	£0	22.9% APR (variable)	Sign up for Santander Boosts to receive cashback, vouchers, offers and prize draws from selected retailers. Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a., your representative rate is 22.9% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
NatWest Purchase & Balance Transfer Credit Card	0% for 23 months reverting to 23.9%	2.99%	0% for 23 months reverting to 23.9%	£0	23.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Go to site Read review	Compare	loading Fetching your data...
Royal Bank of Scotland Longer Balance Transfer Credit Card	0% for 30 months reverting to 23.9%	2.99%	0% for 3 months reverting to 23.9%	£0	23.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Go to site Read review	Compare	loading Fetching your data...
M&S Bank Credit Card Transfer Plus Offer Mastercard Finder Award	0% for 28 months reverting to 23.9%	2.99% fee, min £5	0% for 3 months reverting to 23.9%	£0	23.9% APR (variable)	1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card. Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
Royal Bank of Scotland Balance Transfer Credit Card	0% for 19 months reverting to 23.9%	2.99%	0% for 3 months reverting to 23.9%	£0	23.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Go to site Read review	Compare	loading Fetching your data...
NatWest Longer Balance Transfer Credit Card	0% for 30 months reverting to 23.9%	2.99%	0% for 3 months reverting to 23.9%	£0	23.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Go to site Read review	Compare	loading Fetching your data...
HSBC No Fee Balance Transfer Credit Card Visa	0% for 16 months reverting to 23.9%	0%	0% for 3 months reverting to 23.9%	£0	23.9% APR (variable)	Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away. Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
NatWest Balance Transfer Credit Card	0% for 19 months reverting to 23.9%	0%	0% for 3 months reverting to 23.9%	£0	23.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Go to site Read review	Compare	loading Fetching your data...
HSBC Purchase Plus Credit Card	0% for 17 months reverting to 23.9%	2.99%	0% for 20 months reverting to 23.9%	£0	23.9% APR (variable)	Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away. Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable). You might get different interest rates and promotional periods to those shown here, because these depend on your circumstances.	Check eligibility Read review	Compare	loading Fetching your data...
Royal Bank of Scotland Purchase & Balance Transfer Credit Card	0% for 23 months reverting to 23.9%	2.9%	0% for 23 months reverting to 23.9%	£0	23.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Go to site Read review	Compare	loading Fetching your data...
HSBC Balance Transfer Credit Card	0% for 27 months reverting to 23.9%	0%	0% for 3 months reverting to 23.9%	£0	23.9% APR (variable)	Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away. Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable). You might get different interest rates and promotional periods to those shown here, because these depend on your circumstances.	Check eligibility Read review	Compare	loading Fetching your data...
M&S Bank Shopping Plus Credit Card Finder Award	0% for 15 months reverting to 23.9%	2.99% fee, min £5	0% for 18 months reverting to 23.9%	£0	23.9% APR (variable)	1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card. Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
Santander All in One Credit Card	0% for 15 months reverting to 21.9%	0% for 15 months reverting to 3% (min. £5)	0% for 15 months reverting to 21.9%	£3 per month	27.7% APR (variable)	0.5% after £1 of monthly spend. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit. Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £3 per month, your representative rate is 27.7% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
first direct Credit Card	0% for 27 months reverting to 18.9%	2.29%	18.9%	£0	18.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).	Read review	Compare	loading Fetching your data...
Nationwide Member Credit Card All Rounder	0% for 15 months reverting to 19.9%	1.5% (min. £5) for 3 months reverting to 2.4% (min. £5)	0% for 15 months reverting to 19.9%	£0	19.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).	Read review	Compare	loading Fetching your data...
Nationwide Member Credit Card Balance Transfer	0% for 18 months reverting to 19.9%	1.5% (min. £5) for 3 months reverting to 2.4% (min. £5)	0% for 3 months reverting to 19.9%	£0	19.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).	Read review	Compare	loading Fetching your data...
The Co-operative Bank Balance Transfer Credit Card Visa	0% for 24 months reverting to 20.6%	3% (minimum £5)	0% for 4 months reverting to 20.6%	£0	20.6% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 20.6% (variable) p.a., your representative rate is 20.6% APR (variable).	Read review	Compare	loading Fetching your data...
Halifax 0% Purchase and Balance Transfer Mastercard	0% for 17 months reverting to 22.94%	2.99% for 3 months reverting to 5%	0% for 17 months reverting to 22.94%	£0	22.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 22.94% (variable) p.a., your representative rate is 22.9% APR (variable).	Read review	Compare	loading Fetching your data...
Lloyds Bank Platinum Low Fee 0% Balance Transfer Mastercard	0% for 22 months reverting to 22.94%	1.99% for 3 months reverting to 5%	0% for 6 months reverting to 22.94%	£0	22.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 22.94% (variable) p.a., your representative rate is 22.9% APR (variable).	Read review	Compare	loading Fetching your data...
MBNA Long 0% Balance Transfer Credit Card	0% for 31 months reverting to 22.94%	3.49% for 2 months reverting to 5%	22.94%	£0	22.9% APR (variable)	Earn up to 15% cashback on purchases through Smart Rewards at popular retailers. Representative example: When you spend £1,200 at a purchase rate of 22.94% (variable) p.a., your representative rate is 22.9% APR (variable).	Read review	Compare	loading Fetching your data...

Name	Ratings	Customer rating	Finder rating	Purchases	Balance transfers	Annual/monthly fees	Representative APR	Incentive	Link
Royal Bank of Scotland Purchase & Balance Transfer Credit Card	Finder score ★★★★★	Not yet rated	★★★★★ Expert analysis	0% for 23 months reverting to 23.9%	0% for 23 months (2.9% fee)	£0	23.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Go to site Read review	Compare	loading Fetching your data...
NatWest Purchase & Balance Transfer Credit Card	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 23 months reverting to 23.9%	0% for 23 months (2.99% fee)	£0	23.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Go to site Read review	Compare	loading Fetching your data...
HSBC Purchase Plus Credit Card	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 20 months reverting to 23.9%	0% for 17 months (2.99% fee)	£0	23.9% APR (variable)	Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away. Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable). You might get different interest rates and promotional periods to those shown here, because these depend on your circumstances.	Check eligibility Read review	Compare	loading Fetching your data...
M&S Bank Shopping Plus Credit Card Finder Award	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 18 months reverting to 23.9%	0% for 15 months (2.99% fee, min £5 fee)	£0	23.9% APR (variable)	1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card. Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
Santander All in One Credit Card	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 15 months reverting to 21.9%	0% for 15 months (0% fee)	£3 per month	27.7% APR (variable)	0.5% after £1 of monthly spend. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit. Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £3 per month, your representative rate is 27.7% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
HSBC Rewards Credit Card	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 6 months reverting to 23.9%	0% for 6 months (0% fee)	£0	23.9% APR (variable)	Earn 1 point for every £5 spent on purchases. Bonus 2,500 reward points on anniversary if £10,000 spent in previous year. 1 point = 1p (no min) Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
Tesco Bank Clubcard Plus Credit Card Mastercard	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 24 months reverting to 19.944%	21.814% (3.99% fee)	£7.99 per month	37.7% APR (variable)	1 point per £4 spent (£4 minimum) in Tesco and 1 point per £8 spent (£8 minimum) outside Tesco, must have available credit to earn points. Card can also be used as a Clubcard to collect standard points at 1 point per £1 spent on shopping and an enhanced rate of 1 point per £1 spent on fuel. Points are converted to Tesco vouchers which can be used towards shopping or exchanged for Partner Rewards. 1 point = 1p (min 250pts) Representative example: When you spend £1,200 at a purchase rate of 19.944% (variable) p.a. with a fee of £7.99 per month, your representative rate is 37.7% APR (variable).	Read review	Compare	loading Fetching your data...
Ulster Bank Purchase & Balance Transfer Credit Card Mastercard	Finder score ★★★★★	Not yet rated	★★★★★ Expert analysis	0% for 23 months reverting to 23.9%	0% for 23 months (2.99% fee)	£0	23.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Read review	Compare	loading Fetching your data...
MBNA 0% Transfer and Purchase Credit Card	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 22 months reverting to 22.94%	0% for 22 months (2.99% fee)	£0	22.9% APR (variable)	Earn up to 15% cashback on purchases through Smart Rewards at popular retailers. Representative example: When you spend £1,200 at a purchase rate of 22.94% (variable) p.a., your representative rate is 22.9% APR (variable).	Read review	Compare	loading Fetching your data...
Barclaycard Platinum All-Rounder Visa	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 22 months reverting to 23.9%	0% for 22 months (2.99% fee)	£0	23.9% APR (variable)	Buy tickets for up to 3500 selected live events through Barclaycard entertainment and get 5% off tickets per year and exclusive presale tickets on selected festivals with 10% off ticket prices. Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Read review	Compare	loading Fetching your data...
Santander World Elite Mastercard	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 18 months reverting to 18.9%	0% for 18 months (0% fee)	£15 per month	49.8% APR (variable)	0.5% on £1 to £3000 of monthly spend. Maximum of £15 cashback paid per month. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit. Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £15 per month, your representative rate is 49.8% APR (variable).	Read review	Compare	loading Fetching your data...
Sainsbury's Bank Dual 17 Month Offer Credit Card Mastercard	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 17 months reverting to 23.95%	0% for 17 months (3% fee)	£0	23.9% APR (variable)	Earn 1 Nectar points per £2 spent in Sainsbury's and Argos, and 1 Nectar point for every £5 spent elsewhere. Additional points can be earned by also using the Nectar card or app at the time of transaction. Earn 500 bonus points each time you spend £35 or more on Sainsbury's shopping with your credit card, up to ten times in your first 2 months, offer available for new customers. 1 point = 0.5p (min 500pts) Representative example: When you spend £1,200 at a purchase rate of 23.95% (variable) p.a., your representative rate is 23.9% APR (variable).	Read review	Compare	loading Fetching your data...
Lloyds Bank Platinum 0% Purchase and Balance Transfer Mastercard	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 17 months reverting to 22.94%	0% for 15 months (2.99% fee)	£0	22.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 22.94% (variable) p.a., your representative rate is 22.9% APR (variable).	Read review	Compare	loading Fetching your data...
Halifax 0% Purchase and Balance Transfer Mastercard	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 17 months reverting to 22.94%	0% for 17 months (2.99% fee)	£0	22.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 22.94% (variable) p.a., your representative rate is 22.9% APR (variable).	Read review	Compare	loading Fetching your data...
first direct Gold Credit Card	Finder score ★★★★★	Not yet rated	★★★★★ Expert analysis	0% for 17 months reverting to 16.9%	16.9% (0% fee)	£0	16.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 16.9% (variable) p.a., your representative rate is 16.9% APR (variable).	Read review	Compare	loading Fetching your data...
Bank of Scotland Platinum 0% Purchase and Balance Transfer Mastercard	Finder score ★★★★★	Not yet rated	★★★★★ Expert analysis	0% for 17 months reverting to 22.94%	0% for 17 months (2.99% fee)	£0	22.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 22.94% (variable) p.a., your representative rate is 22.9% APR (variable).	Read review	Compare	loading Fetching your data...
TSB Platinum Purchase Card	Finder score ★★★★★	Not yet rated	★★★★★ Expert analysis	0% for 15 months reverting to 22.95%	0% for 15 months (1.45% fee)	£0	22.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 22.95% (variable) p.a., your representative rate is 22.9% APR (variable).	Read review	Compare	loading Fetching your data...
Nationwide Member Credit Card All Rounder	Finder score ★★★★★	Not yet rated	★★★★★ Expert analysis	0% for 15 months reverting to 19.9%	0% for 15 months (1.5% fee)	£0	19.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).	Read review	Compare	loading Fetching your data...
Tesco Bank Purchases Card	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 14 months reverting to 22.94%	0% for 3 months (0% interest on balance transfers for the first 3 months (2.99% fee) fee)	£0	22.9% APR (variable)	1 point per £4 spent (£4 minimum) in Tesco and 1 point per £8 spent (£8 minimum) outside Tesco. Must have available credit to earn points. Points are converted to Tesco vouchers or can be exchanged for Partner rewards to receive money off a variety of restaurants, entertainment or Avios points. Representative example: When you spend £1,200 at a purchase rate of 22.94% (variable) p.a., your representative rate is 22.9% APR (variable).	Read review	Compare	loading Fetching your data...
Virgin Money Dual Credit Card Mastercard	Finder score ★★★★★ User survey ★★★★★	★★★★★ User rating	★★★★★ Expert analysis	0% for 13 months reverting to 23.9%	0% for 16 months (3% fee)	£0	23.9% APR (variable)	Enjoy exclusive offers and rewards on the Virgin Red app. Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Read review	Compare	loading Fetching your data...

Name	Purchases	Annual/monthly fees	Initial credit limits	Representative APR	Incentive	Link
M&S Bank Shopping Plus Credit Card Finder Award	0% for 18 months reverting to 23.9%	£0	Min. limit £500, max. limit not specified.	23.9% APR (variable)	1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card. Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
M&S Bank Credit Card Transfer Plus Offer Mastercard Finder Award	0% for 3 months reverting to 23.9%	£0	Min. limit £500, max. limit not specified.	23.9% APR (variable)	1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card. Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
Royal Bank of Scotland Reward Credit Card	21.9%	£24 per annum. Reward or Reward Black Current Account holders: £0 per annum	Min. limit £250, max. limit not specified.	26.8% APR (variable)	Earn 1% back at supermarkets and 0.25% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back. Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £24 per annum. Reward or Reward Black Current Account holders: £0 per annum, your representative rate is 26.8% APR (variable).	Go to site Read review	Compare	loading Fetching your data...
NatWest Reward Credit Card	21.9%	£24 per annum. Reward or Reward Black Current Account holders: £0 per annum	Min. limit £250, max. limit not specified.	26.8% APR (variable)	You'll earn 1% back at supermarkets and 0.25% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back. Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £24 per annum. Reward or Reward Black Current Account holders: £0 per annum, your representative rate is 26.8% APR (variable).	Go to site Read review	Compare	loading Fetching your data...
Santander All in One Credit Card	0% for 15 months reverting to 21.9%	£3 per month	Min. limit £500, max. limit not specified.	27.7% APR (variable)	0.5% after £1 of monthly spend. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit. Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £3 per month, your representative rate is 27.7% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
American Express® Platinum Cashback Everyday Credit Card Finder Award	28.8%	£0	Min. limit £700, max. limit not specified.	28.8% APR (variable)	New cardmember offer: Get 5% cashback on your purchases (up to £100) for the first three months of Cardmembership. Terms apply. Spend £0 to £10,000 and receive 0.5% cashback on all purchases. Spend over £10,000 and receive 1% cashback on purchases. Representative example: When you spend £1,200 at a purchase rate of 28.8% (variable) p.a., your representative rate is 28.8% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
The American Express Rewards® Credit Card Finder Award	28.8%	£0	Min. limit £500, max. limit not specified.	28.8% APR (variable)	Earn 1 Membership Rewards® point for every £1 spent thereafter. Earn up to 90,000 bonus points per year through refer a friend, 4,000 points awarded for every friend approved. 1 point = 0.45p (min 1000 points) to shop, other rewards have differing conversions Representative example: When you spend £1,200 at a purchase rate of 28.8% (variable) p.a., your representative rate is 28.8% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
British Airways American Express® Credit Card Finder Award	28.8%	£0	Min. limit £700, max. limit not specified.	28.8% APR (variable)	New Cardmember Offer: Earn 25,000 bonus Avios when you spend £3,000 in your first 3 months of account opening. Terms Apply Representative example: When you spend £1,200 at a purchase rate of 28.8% (variable) p.a., your representative rate is 28.8% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
American Express® Platinum Cashback Credit Card Finder Award	28.8%	£25 per annum	Min. limit £700, max. limit not specified.	34.3% APR (variable)	New cardmember offer: Get 5% cashback on your purchases (up to £125) for the first three months of Cardmembership. Terms apply. Spend £0 to £10,000 and receive 0.75% cashback on all purchases. Spend over £10,000 and receive 1.25% cashback on purchases. Representative example: When you spend £1,200 at a purchase rate of 28.8% (variable) p.a. with a fee of £25 per annum, your representative rate is 34.3% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
American Express® Nectar Credit Card Finder Award	28.8%	Year 1 - £0, Year 2 onwards - £25 per annum	Min. limit £700, max. limit not specified.	34.3% APR (variable)	Earn 20,000 bonus Nectar points when you spend £2,000 in your first 3 months. Earn a minimum of 3 Nectar points for virtually every £1 spent at Nectar partners, and 2 Nectar points for virtually every £1 spent elsewhere. Representative example: When you spend £1,200 at a purchase rate of 28.8% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £25 per annum, your representative rate is 34.3% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
NatWest Reward Black Credit Card	21.9%	£84 per annum. Reward Black Current Account holders: £0 per annum	Min. limit £5,000, max. limit not specified.	40.7% APR (variable)	You'll earn 1% back at supermarkets and 0.5% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back. Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £84 per annum. Reward Black Current Account holders: £0 per annum, your representative rate is 40.7% APR (variable).	Go to site Read review	Compare	loading Fetching your data...
Royal Bank of Scotland Reward Black Credit Card	21.9%	£84 per annum. Reward Black Current Account holders: £0 per annum	Min. limit £5,000, max. limit not specified.	40.7% APR (variable)	Earn 1% back at supermarkets and 0.5% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back. Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £84 per annum. Reward Black Current Account holders: £0 per annum, your representative rate is 40.7% APR (variable).	Go to site Read review	Compare	loading Fetching your data...
The Marriott Bonvoy American Express Card Finder Award	28.8%	£75 per annum	Min. limit £700, max. limit not specified.	46.6% APR (variable)	Earn 6 points for every £1 spent at eligible Marriott properties. Earn 2 points for virtually every £1 spent elsewhere. Earn up to 90,000 bonus points per year through refer a friend, 9,000 points awarded for every friend approved. Points can be redeemed for hotel stays of varying values (min 15000pts) Representative example: When you spend £1,200 at a purchase rate of 28.8% (variable) p.a. with a fee of £75 per annum, your representative rate is 46.6% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
American Express® Preferred Rewards Gold Credit Card Finder Award	28.8%	Year 1 - £0, Year 2 onwards - £160 per annum	Min. limit £700, max. limit not specified.	72.4% APR (variable)	2 points earned per £1 spent on travel related purchases and spending abroad. 3 points for every £1 spent when booking through American Express Travel. Representative example: When you spend £1,200 at a purchase rate of 28.8% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £160 per annum, your representative rate is 72.4% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
British Airways American Express® Premium Plus Card Finder Award	28.8%	£250 per annum	Min. limit £700, max. limit not specified.	108.9% APR (variable)	Earn 25,000 bonus Avios when you spend £3,000 in your first 3 months of Cardmembership. Terms apply. 18+, subject to status. New Cardmembers Only Representative example: When you spend £1,200 at a purchase rate of 28.8% (variable) p.a. with a fee of £250 per annum, your representative rate is 108.9% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
Pulse Card Mastercard (existing NewDay customers only)	Your interest rate will stay the same as your current NewDay card		Min. limit not specified, max. limit not specified.	APR (variable)	Get 0.25% cashback every time you shop, up to a maximum of £150 cashback per year If you are a current NewDay customer and have been invited to transfer to a Pulse Card, your interest rate and credit limit will remain the same.	Read review	Compare	loading Fetching your data...
Tesco Bank Low APR Clubcard Credit Card	10.941%	£0	Min. limit £250, max. limit not specified.	10.9% APR (variable)	1 point per £4 spent (£4 minimum) in Tesco and 1 point per £8 spent (£8 minimum) outside Tesco, must have available credit to earn points. Card can also be used as a Clubcard to collect standard points at 1 point per £1 spent on shopping and an enhanced rate of 1 point per £1 spent on fuel. Points are converted to Tesco vouchers which can be used towards shopping or exchanged for Partner Rewards. 1 point = 1p (min 250pts) Representative example: When you spend £1,200 at a purchase rate of 10.941% (variable) p.a., your representative rate is 10.9% APR (variable).	Read review	Compare	loading Fetching your data...
MBNA Limited Platinum Visa	12.94%	£0	Min. limit not specified, max. limit not specified.	12.9% APR (variable)	0.25% after £1 of yearly spend. Cashback paid January into Card Account. Earn 0.25% cashback on purchases within the first 36 months of account opening. Maximum spend for cashback purposes is limited to credit limit. Representative example: When you spend £1,200 at a purchase rate of 12.94% (variable) p.a., your representative rate is 12.9% APR (variable).	Read review	Compare	loading Fetching your data...
The Co-operative Bank Members' Credit Card Visa	18.2%	£0	Min. limit £500, max. limit not specified.	18.2% APR (variable)	1p earned for every £2 spent in The Co-operative Food stores (excluding in-store concessions) and 1p earned for every £3.33 spent anywhere else. Cashback will be added to your share of the Group profits and this will be paid to you twice a year. Representative example: When you spend £1,200 at a purchase rate of 18.2% (variable) p.a., your representative rate is 18.2% APR (variable).	Read review	Compare	loading Fetching your data...
AIB Options 1 Credit Card	18.9%	£0	Min. limit £500, max. limit not specified.	18.9% APR (variable)	0.5% after £5000 of yearly spend. Minimum of 12 transactions per year required. Maximum of £250 cashback paid per year. Cashback paid Anniversary into Card Account. For initial £5K a £25 cashback is paid, plus an additional £1 for every further £200 spent. Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).	Read review	Compare	loading Fetching your data...

Name	Annual/monthly fees	Initial credit limits	Minimum income	Representative APR	Incentive	Link
Barclaycard Forward Credit Card	£0	Min. limit £50, max. limit £1,200.	£3000	33.9%	Rate discounts: 3% interest rate reduction if you make all your repayments on time for the first year, and a further drop of up to 2% more if you continue to do so in the second year. Representative example: When you spend £1,200 at a purchase rate of 33.9% (variable) p.a., your representative rate is 33.9% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
Tymit Credit Card	£0	Min. limit £500, max. limit £15,000.	Not specified	22.9%	Representative Example: 22.9% (variable) based on a borrowing of £1200 over 12 months with no annual fee.	Read review	Compare	loading Fetching your data...
The Credit Thing card	£0	Min. limit £200, max. limit £1,500.	Not specified	27.9%	Representative example: When you spend £1,200 at a purchase rate of 27.9% (variable) p.a., your representative rate is 27.9% APR (variable).	Read review	Compare	loading Fetching your data...
TSB Classic Credit Card Mastercard	£0	Min. limit £500, max. limit not specified.	Not specified	28.9%	Representative example: When you spend £1,200 at a purchase rate of 28.95% (variable) p.a., your representative rate is 28.9% APR (variable).	Read review	Compare	loading Fetching your data...
Vanquis Bank Chrome Credit Card	£0	Min. limit £500, max. limit £1,500.	Not specified	29.5%	Representative example: When you spend £250 at a purchase rate of 29.5% (variable) p.a., your representative rate is 29.5% APR (variable).	Read review	Compare	loading Fetching your data...
Tesco Bank Foundation Card	£0	Min. limit £250, max. limit not specified.	£5000	29.9%	Collect 1 Tesco Clubcard point per £4 spent (£4 minimum) in Tesco and 1 Clubcard point per £8 spent (£8 minimum) outside Tesco in each purchase transaction. Must have available credit to collect Clubcard points. Clubcard points are turned into Clubcard vouchers every 3 months or sooner using Faster Vouchers. Clubcard vouchers can be used in Tesco or with Clubcard Reward Partners to get even more value on dining out, hotel stays and travel. Representative example: When you spend £1,200 at a purchase rate of 29.94% (variable) p.a., your representative rate is 29.9% APR (variable).	Read review	Compare	loading Fetching your data...
Bip Credit Card Mastercard	£0	Min. limit £250, max. limit not specified.	£5000	29.9%	Representative example: When you spend £1,200 at a purchase rate of 29.95% (variable) p.a., your representative rate is 29.9% APR (variable).	Read review	Compare	loading Fetching your data...
HSBC Classic Credit Card	£0	Min. limit £250, max. limit £1,000.	£6800	29.9%	Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away. Representative example: When you spend £1,200 at a purchase rate of 29.9% (variable) p.a., your representative rate is 29.9% APR (variable).	Read review	Compare	loading Fetching your data...
Keebo credit card Finder Award	£0	Min. limit £100, max. limit £5,000.	Not specified	29.98%	Representative example: When you spend £1,200 at a purchase rate of 29.98% (variable) p.a., your representative rate is 29.98% APR (variable).	Read review	Compare	loading Fetching your data...
118 118 Money Guaranteed Rate Card	£0	Min. limit £500, max. limit not specified.	£8400	34%	Representative example: When you spend £1,200 at a purchase rate of 34% (variable) p.a., your representative rate is 34% APR (variable).	Read review	Compare	loading Fetching your data...
Aqua Advance credit card	£0	Min. limit £250, max. limit £1,200.	£5000	34.9%	Reduce your rate over three years if you stay within your credit limit and pay on time. No extra fees on what you spend abroad. Representative example: When you spend £1,200 at a purchase rate of 34.95% (variable) p.a., your representative rate is 34.9% APR (variable).	Read review	Compare	loading Fetching your data...
Aqua Classic Balance Transfer Card	£0	Min. limit £250, max. limit £1,200.	Not specified	34.9%	Representative example: Assumed credit limit £1,200, representative 34.9% APR (variable), purchase rate 34.95% p.a. (variable). Please note: you can’t have two Aqua accounts or open an Aqua account within 12 months of opening a Marbles, Fluid or Opus account, issued by New Day	Read review	Compare	loading Fetching your data...
Asda Money Select Credit Card	£0	Min. limit £250, max. limit £5,000.	Not specified	34.9%	Earn 1% back in Asda Pounds when shopping at Asda, earn 0.3% on non-Asda spend. 1 Asda Pound = £1 (min £1) Representative example: When you spend £1,200 at a purchase rate of 34.9% (variable) p.a., your representative rate is 34.9% APR (variable).	Read review	Compare	loading Fetching your data...
Marbles Card	£0	Min. limit £250, max. limit £1,200.	Not specified	34.9%	You could get a credit limit increase after three months. Choose a monthly repayment date that suits you and change it up to twice a year. Representative example: Assumed credit limit £1,200, representative 34.9% APR (variable), purchase rate 34.95% p.a. (variable). Please note: you can’t have two Marbles accounts or open a Marbles account within 12 months of opening an Aqua, Fluid or Opus account, issued by New Day	Read review	Compare	loading Fetching your data...
Zopa Credit Card Visa	£0	Min. limit £200, max. limit £1,500.	£10000	34.9%	Representative example: When you spend £1,200 at a purchase rate of 34.9% (variable) p.a., your representative rate is 34.9% APR (variable).	Read review	Compare	loading Fetching your data...
Post Office Classic Card	£0	Min. limit £200, max. limit £8,000.	Not specified	34.9%	Representative example: When you spend £1,200 at a purchase rate of 34.94% (variable) p.a., your representative rate is 34.9% APR (variable).	Read review	Compare	loading Fetching your data...
Capital One Classic Credit Card	£0	Min. limit £200, max. limit £1,500.	Not specified	34.9%	Representative example: Assuming a credit limit of £1,200 and an interest rate on purchases of 34.94% p.a. variable, you will receive a 34.9% APR representative variable.	Read review	Compare	loading Fetching your data...
Fluid Credit Card	£0	Min. limit £250, max. limit not specified.	£5000	34.9%	Representative example: When you spend £1,200 at a purchase rate of 34.94% (variable) p.a., your representative rate is 34.9% APR (variable).	Read review	Compare	loading Fetching your data...
Capital One Luma Purchase Mastercard	£0	Min. limit £200, max. limit £1,500.	Not specified	35.9%	Representative example: When you spend £1,200 at a purchase rate of 35.94% (variable) p.a., your representative rate is 35.9% APR (variable).	Read review	Compare	loading Fetching your data...
Capital One Luma Mastercard	£0	Min. limit £200, max. limit £1,500.	Not specified	35.9%	Representative example: When you spend £1,200 at a purchase rate of 35.94% (variable) p.a., your representative rate is 35.9% APR (variable).	Read review	Compare	loading Fetching your data...

Name	Purchases	Annual/monthly fees	Initial credit limits	Representative APR	Incentive	Link
British Airways American Express® Premium Plus Card Finder Award	28.8%	£250 per annum	Min. limit £700, max. limit not specified.	108.9% APR (variable)	Earn 25,000 bonus Avios when you spend £3,000 in your first 3 months of Cardmembership. Terms apply. 18+, subject to status. New Cardmembers Only Representative example: When you spend £1,200 at a purchase rate of 28.8% (variable) p.a. with a fee of £250 per annum, your representative rate is 108.9% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
British Airways American Express® Credit Card Finder Award	28.8%	£0	Min. limit £700, max. limit not specified.	28.8% APR (variable)	New Cardmember Offer: Earn 25,000 bonus Avios when you spend £3,000 in your first 3 months of account opening. Terms Apply Representative example: When you spend £1,200 at a purchase rate of 28.8% (variable) p.a., your representative rate is 28.8% APR (variable).	Check eligibility Read review	Compare	loading Fetching your data...
Virgin Money Virgin Atlantic Reward Plus Credit Card	26.9%	£160 per annum	Min. limit not specified, max. limit not specified.	69.7% APR (variable)	Earn an additional 15,000 Bonus Points when you spend £3,000 within the first 90 days of account opening. Earn 15,000 bonus miles with your first card purchase made within 90 days of account opening. Earn 1.5 Flying Club miles for every £1 spend and 3 miles for every £1 spend with Virgin Atlantic and Virgin Holidays. Spend £10K a year on your card and choose an extra benefit - an upgrade to Premium, or a Companion ticket. Points value varies dependent on reward (min 3000pts) Representative example: When you spend £1,200 at a purchase rate of 26.9% (variable) p.a. with a fee of £160 per annum, your representative rate is 69.7% APR (variable).	Read review	Compare	loading Fetching your data...
Barclaycard Avios Plus Card	25.9%	£20 per month	Min. limit £50, max. limit not specified.	75% APR (variable)	Earn 25,000 Avios when you spend £3,000 on card over the first 3 months of opening. Terms Apply. New members only. Earn 1.5 Avios for every £1 you spend. Spend £10,000 or more during the year and receive a British Airways cabin upgrade voucher to use on an Avios Reward Flight booking. Representative example: When you spend £1,200 at a purchase rate of 25.9% (variable) p.a. with a fee of £20 per month, your representative rate is 75% APR (variable).	Read review	Compare	loading Fetching your data...
Barclaycard Avios Card	25.9%	£0	Min. limit £50, max. limit not specified.	25.9% APR (variable)	Earn 5,000 Avios when you spend £1,000 on card over the first 3 months of opening. Terms apply. New members only. Earn 1 Avios for every £1 you spend. Spend £20,000 or more during the year and receive a British Airways cabin upgrade voucher to use on an Avios Reward Flight booking.Terms apply. Representative example: When you spend £1,200 at a purchase rate of 25.9% (variable) p.a., your representative rate is 25.9% APR (variable).	Read review	Compare	loading Fetching your data...
Virgin Money Virgin Atlantic Reward Credit Card	26.9%	£0	Min. limit not specified, max. limit not specified.	26.9% APR (variable)	Earn 0.75 Flying Club miles for every £1 spend and 1.5.miles for every £1 spend with Virgin Atlantic or Virgin Holidays. Spend £20K a year on your card and choose an extra benefit - an upgrade to Premium, or a Companion ticket. Points value varies dependent on reward (min 3000pts) Representative example: When you spend £1,200 at a purchase rate of 26.9% (variable) p.a., your representative rate is 26.9% APR (variable).	Read review	Compare	loading Fetching your data...

How does minimum payment work with 0% offers?

Some credit cards offer 0% interest on purchases and/or balance transfers for an introductory period, which usually ranges from 12-36 months. Although it means you get a break from interest, it does not mean you get a break from making monthly minimum payments.

It’s important to note that making your minimum monthly payment won’t necessarily clear your total debt within your interest-free period.

Instead, you should calculate exactly how much you need to pay each month to repay the entire balance by the time the interest-free period ends. Find your monthly repayment by dividing the size of your debt by the number of months in the balance transfer offer.

The table below shows what percentage you should pay off each month to fully clear your debt during the interest-free balance transfer promotional period. We’ve also shown how much this would be for a £2,000 debt. For this example, we’re assuming no new purchases are being made with the card.

Duration	% of total to repay each month to clear debt	What that would equal per month on a £2,000 debt
6 months	16.67%	£333.33
9 months	11.11%	£222.22
12 months	8.33%	£166.66
14 months	7.14%	£142.85
16 months	6.25%	£125.00
18 months	5.56%	£111.11
20 months	5.00%	£100.00
24 months	4.17%	£83.33

If you miss a payment, you could incur penalty fees and could also have the 0% offer withdrawn or the time reduced.

What happens if I miss a minimum payment?

If you forget to pay or can’t afford to pay your minimum payment, you will incur fees and this could impact your credit report. This, in turn, could affect your ability to attain credit in the future.

If you accidentally missed the payment date, make a payment immediately. However, if you’re struggling to pay, contact your provider as soon as possible as it may be able to help.

You could also risk having your interest rate increased or perhaps the introductory 0% period on your card shortened or withdrawn altogether.

All you need to know about debt

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

Thank you for your feedback!

Chris Lilly

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Chris Lilly is a publisher at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.

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