How coronavirus payment holidays worked

We offered credit card payment holidays from 20 March 2020 to 31 July 2021. Members could apply to take a payment holiday for up to 3 months at a time, for a maximum of 6 months. This was in line with FCA guidelines.

However, we are no longer accepting applications for:

  • new credit card payment holidays
  • credit card payment holiday extensions.

Repayments after a payment holiday

If you took a credit card payment holiday, your new minimum payments have been worked out to include the interest added during your holiday.

Your minimum repayment amount depends on:

  • your individual circumstances
  • the minimum repayment terms for your specific credit card product
  • and, after a payment holiday, they also depend on when your holiday started.

If your financial situation has improved, you could pay more than your minimum monthly payment. This can help minimise the effects of the payment holiday and the interest you pay in the long term.

Why payments increase after a payment holiday

Interest continues to build at the usual interest rate during a payment holiday. This means that the total amount of interest you’ll pay back increases. As a result, your monthly minimum repayments at the end of your holiday are higher.

If you can’t make your credit card payments

If you're unable to make your monthly payments or if you've already missed one or more payments, don’t panic. We’re here to help.

We understand that it can feel easier to avoid a conversation with us and hope the situation improves. But the sooner you get in touch, the quicker we can help you.