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Persistent debt
What you need to know about persistent debt and how you can reduce the cost of your credit.
Repayment calculator
Look at how your monthly payments impact the time it takes to repay your balance and how you could reduce the amount of interest paid.
How paying more will help reduce the cost of your credit
Your statements include a minimum payment amount, which you must make on time to avoid fees, losing any promotional interest rates and damaging your credit score.
Learn more about minimum payments.
If you continue to pay more interest, fees and charges, than off your balance for 36 months, we’ll look at other ways to help you clear your balance. This may include stopping your card or lowering your credit limit.
This is a simplified example using a balance of £3,000 with an effective interest rate of 24%.
This example assumes that you don’t use your credit card, there are no extra fees or charges, and the interest rate doesn’t change.
The minimum payment is 1% of the outstanding balance, plus standard interest, fees and charges.
More support
Repayment support
Paying more towards your existing debts might feel out of reach, but we can help you find practical solutions.
We’re here to discuss any more worries you may have. The sooner you get in touch, the easier it is to find a way forward.
Free independent help and advice
You can also talk to independent organisations who offer support with money worries, like;
PayPlan
StepChange
Get expert advice and free debt management help to manage your debts.
Call: 0800 138 1111
Mon-Fri 8am-8pm and Sat 8am-4pm.
National Debtline
Free help and advice on dealing with your debt.
Call: 0808 808 4000
Mon-Fri 9am-8pm and Sat 9.30am-1pm.
More help
There are more organisations that can offer you free, independent help and advice for your money worries.
Persistent debt FAQs
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We'll write to you if you have paid more interest, fees and charges than off the balance, over 18 months or longer.
This letter will include information and tips on repaying your balance sooner to cut your borrowing costs.
If we have your mobile number and think it’s affordable for you, we’ll send you a text message each month with a suggested payment. It will show an amount that you can choose to repay to help get you out of persistent debt.
In 9 months’, we'll check in to let you know how things are going. We'll tell you if you're managing to pay more off your balance than in interest, fees and charges.
In 18 months’, if your account is still in persistent debt, we'll let you know how much to repay each month so you can clear your balance in around four years and pay less interest.
We might send a few more reminders and suggestions in between these letters to help you.
Any action we take is aimed at helping you to cut your borrowing costs and repay your balance more quickly.
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If your account has been in persistent debt for three years, a recommended payment amount will start to feature on your monthly statements.
By paying this amount each month, it’ll help you to repay your balance more quickly.
As it will include your minimum payment, any overdue payments, and will consider if you still use your card, the amount can vary month to month, so make sure you keep an eye on your statements.
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You will lose the ability to make further transactions if your account has been in persistent debt for three or more years, and you are not paying the recommended monthly payment.
This is to help you make progress with repaying your balance.
If we stop your card, we will close your account after you've cleared your balance.
If you need your credit card for essential living expenses, contact us so we can find a way to help.
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If you are in persistent debt, it won't directly affect your credit score, but things like your repayment history and carrying high debt balances could affect your credit score.
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If you’re worried about your money or repaying your balance, please get in touch. We’ll explain all your options and help you to find a way forward.
Additional support
