FAQs - frequently asked questions toggle accordian row

Q: How is my minimum repayment calculated?

A: Minimum repayments are calculated as a percentage of the closing balance. This is typically 2 or 2.5%, or a set dollar amount (usually around $20), whichever is greater. Your minimum repayment will never be more than your closing balance.

Q: I can't afford to increase my repayments, how can I pay off my balance faster?

A: Work out how much money you can afford to repay each month. Keep paying the same amount as the balance reduces, and you will repay your debt faster and save money. See pay off your credit card for more on how to stay on top of your credit card.