Barclaycard to impose higher minimum charges on credit cards to clear persistent debt

Industry News | 17/11/20

Barclaycard has announced major changes in its terms and conditions which could impact how much credit card customers must pay each month, from 26 January 2021. The changes include how the bank calculates minimum payments – the minimum you have to repay on your card each month, changes to the interest charged on cash transactions and a ban on card use for gambling.

Barclaycard hasn’t specified how many customers could see their payments increase, or by how much. But it says it will use the highest of three calculations to work out repayments, which will be individual to the customer. Here, Which? looks at the changes in more detail and explains what your rights are if you can’t afford to pay.

Source: Which?