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Making your minimum monthly payment

How we calculate your minimum payment

The minimum monthly payment on your MBNA credit card is always made up of 1% of the amount borrowed plus interest and any late, overlimit or annual fees.

Here’s how it works:

  • If you’ve got a balance of £25 or less, you’ll have to clear the balance in full.
  • If your balance is more than £25, your payment will be £25 or 1% of the balance on your statement, whichever is the greater. Interest is then calculated on top of this figure.
  • Any default charges and card fees will be included if applicable.  
  • If you’re in arrears (behind with previous payments) these will added to the balance and must be paid immediately.


Making your minimum payment

There are a range of payment options for your account available at MBNA, including standing order and Direct Debit.

If you pay your credit card by standing order through your bank, always check your statement to see how much you owe. If you’re behind with your payments and have fees to be added or you increase your balance substantially, the amount you’ve set on your standing order might not be enough to cover the minimum payment.  Make sure you speak to your bank in good time and have enough money in your account to meet the payment.

Your Direct Debit will always automatically take the minimum payment on the due date, so you don’t need to do anything. Paying your credit card by Direct Debit is simple and convenient and means your payment will always be made on time.

Learn more about the different ways you can manage your payments here.


If you can’t meet your monthly payment

Missing your minimum payment could mean late fees being added to your account. If you think you might struggle to make your next payment or are experiencing financial difficulties, please contact us. It’s important you get in touch so we can try and help.

You can download our income and expenditure form and read our free Dealing with Debt leaflet if you’re concerned about your financial situation.

Getting help and advice

There are a number of organisations who can give you free help and advice about tackling debt: