There’s a new way to pay off pricier items. So if you’re making plans for the house, or you're jetting off, take a look at how you could spread the cost of that big ticket buy with a 0% interest Instalment Plan.
You choose how much you want to pay each month and when you want the Plan to end. There’s a one-off fee between 2% and 8% which depends on how much the item is and how long you want the Plan to run. Then simply sit back and relax – knowing when it’ll be paid off.
So just remember to check your balance before making any big buys.
When you add a Plan, your minimum monthly payment will naturally increase. Remember, if you don’t make at least your minimum payments, you’ll need to pay a late payment fee and your credit rating may be affected.
They're built into your regular Barclaycard payments, so there's no separate amount to pay each month.
It’s important to understand how your Plan works alongside your other Barclaycard balances. When you make a payment, it’ll go towards paying your Plan first – even if you have balances with higher interest rates.
To help explain, here’s the order of how we apply your payments:
1) Your Plan payment for that month.
2) Any balances you’ve got on your Barclaycard (starting with the ones with the highest interest).
3) Any remaining Plan balance.
You can cancel your Plan for any reason by getting in touch on 0800 151 0900 or 0333 200 9090.* Lines are open 8am 9pm Monday to Friday, 8am 6.30pm Saturday and 8am 4pm Sunday.
If you cancel your Plan, any remaining Plan balance will be moved to your standard balance and charged interest at your standard rate.
If your Plan ends early, we’ll refund a proportion of your one off fee.
If you miss or underpay two Plan payments in a row, we’ll have to move whatever you’ve got left to pay on your Plan back to your standard Barclaycard balance. And this means you'll have to pay a higher interest rate.
If you’re ever having problems with your payments, get in touch with us as soon as you can – we have ways to help.
Check out an example of three ways a £1,000 Plan could play out. But, remember you decide the length of your Instalment Plan, from 6 to 24 months.
2% fee, 0% interest on a £1,000 purchase
4% fee, 0% interest on a £1,000 purchase
8% fee, 0% interest on a £1,000 purchase
There’s some important info you need to know before setting up your Instalment Plan – like how your minimum payments are affected and what happens if you miss a payment. Read all the details here.
Your Barclaycard comes with different features which could be useful if you’d like to save money on other borrowing or want a low cost way to pay off a large purchase. Here’s some help to understand the differences between these features and which of them may best suit your needs.
Use your Barclaycard to buy an item from £495 to £5,000
Login to online banking and under 'Transfers and Offers' click 'Instalment Plan'
Choose your monthly payments end date (from 6 to 24 months) and one-off fee
Get 0% interest until the end of your plan