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Can I pay my Instalment Plan off early?

Yes you can, but first you’ll need to clear your remaining credit card balance. This is to make sure you pay off the balance with the highest interest rate first.

Once that's cleared, any additional repayments you make will go towards paying off your instalment plans.

Please note, the payments will be applied to your account in the following order:

  1. To pay your credit card minimum payment.
  2. To pay any Instalment Plan fees.
  3. To pay any monthly Instalment Plan repayments (if you have more than one plan we’ll first pay off the one which ends soonest).
  4. To reduce sums shown on your most recent monthly statement (excluding Instalment Plans), according to their interest rates, with the highest rate paid first.
  5. To reduce the remainder of the outstanding balance(s) on any Instalment Plan(s) on the account.
  6. If any payment exceeds your most recent monthly statement balance, the excess will then be applied to reduce sums charged to your account but not yet shown on any monthly statement. This is also done according to their interest rates, with the highest interest rate paid first.

Please note your instalment plan will be paid off before any transactions that are not on your statement yet.

How can I pay off my Instalment Plan?

You can pay your instalment plan in the following ways:

  • Set up a direct debit to include your monthly credit card payment and instalment fee
  • Log into the mobile app and select ‘make a payment’
  • Log into online banking and select ‘payment and transfers’

You can set up your Instalment Plan over a term which best suits your needs. This can be between 6, 9, 12, 18 and 24 months.

What happens if I underpay my Instalment Plan?

If you don’t pay your Instalment Plan Payment, any unpaid monthly payments will be moved into your main credit card balance and subject to your standard rate of interest. We will send you an email or letter to advise if you have missed a payment. If you miss just an Instalment Plan payment, it will not impact your credit rating.

What happens if I can't afford my Instalment Plan Payment?

If you can’t afford your Instalment Plan payment, you should cancel your Instalment Plan. If you are having financial difficulties or have any queries regarding your account, please call us on: 0345 300 4642

What is my Instalment Plan payment?

You’ll see ‘Instalment Plan payment’ whenever we’re talking about your total monthly payment for all your Instalment Plans. Paying it will clear all your Instalment Plans, including the monthly fee for each plan, over the length of time you have chosen.

What is Instalment Plan and Spend made up of?

The amount that will pay off the total outstanding credit card balance, excluding any Instalment Plan payments due in future months.

The payment amount on my statement is incorrect, why is this?

If you setup any new Instalment Plans since your last statement was produced, the payment amount printed may no longer be accurate and should be reviewed before making any payments, as it may cause early repayments to existing plans. If the payment has already been made please contact us on: 0345 300 4642.