The Minimum Payment Trap

Minimum payments are typically set at 2–3% of the outstanding balance. Because the payment shrinks as the balance falls, repayment stretches out for years — a £3,000 balance at 24.9% APR on minimum payments can take over 25 years and cost £4,000+ in interest.

Fixed Payments Change Everything

Simply fixing your payment at the initial minimum amount — rather than letting it shrink — can cut years off the payoff time. Fixing a higher amount, like £150/month on a £3,000 balance, clears it in around 2 years.

0% Balance Transfers

If you have a good credit score, a 0% balance transfer card can freeze interest entirely for 12–30 months (usually with a 3–4% transfer fee). During the 0% window, every pound you pay reduces the actual debt. Always clear or re-transfer before the 0% period ends — revert rates are typically 25%+.