Balance payment

Every month the credit card provider will require that repayments are made. The amount of the repayment is dependent upon your balance, but is usually around 2 percent of your balance, or a minimum of 5 GBP. There will be a set date, by which the repayment must be made, and this is normally about 25 days from the statement date.
If repayments are not made by the specified date, then charges, alterations or the termination of your Credit agreement could be incurred.
If you pay your balance off in full at the end of the month then no interest will be charged. If you don’t manage to do this, then the outstanding balance will be charged at the rate of interest as specified by your credit card provider.