Instalment Plans

There are a number of factors that contribute to being eligible for an Instalment Plan. These include having a; transaction between £100-£3,000 either on your latest statement or applied to your account since your last statement was produced, a balance outstanding after your 0% Balance Transfer offer has expired, a credit card with a standard purchase APR above 6.9% and your account is within your credit limit. Additionally, you must not have an outstanding cash balance on your credit card to be eligible for an Instalment Plan.

If instalment plans are available to you, we’ll let you know via our mobile banking app by adding an ‘eligible Instalment Plan flag’ to your transaction or as a notification when your 0% Balance Transfer has expired. We’ll tell you more about any available plan, including fees, via the app before you take it out. Please look out for an "Eligible for Instalment Plan" icon in your credit card 'View Transactions' menu within the mobile app to find transactions eligible for Instalment Plan. Alternatively, you can click on the 'Instalment Plans' menu within the credit cards section of the mobile app and "Search Eligible Transactions" to find transactions eligible for an Instalment Plan.

Please note availability is also subject to eligibility criteria and you will be able to search for eligible transactions in the mobile app.

To set up an Instalment Plan:

1. Log into your mobile app and select your credit card.
2. Click on plan options.
3. Look at the different plan options which show the term and associated monthly fee. 
4. Choose the plan that suits your financial needs.
5. Read the Instalment Plan Terms and Conditions and confirm you still want to proceed.
6. Name your Instalment Plan.
7. Your Instalment Plan will be set up on the next working day.
   

You'll need to pay a set monthly fee for each Instalment Plan you take out (up to 8 plans at any time.) This fee will always cost you less than the standard rate of interest on your credit card.

That's it! There are no hidden fees for anything else.

You can even cancel the plan at any time with no charge. Any remaining balance reverts to your standard purchase rate.

Please note that once a plan is cancelled, you will not be able to set up a plan for the same transaction(s) again.

If you decide to cancel, any previous monthly fees that you’ve already paid won’t be refunded.

You can cancel a plan in the mobile app at any time with no extra charges or fees. As soon as you cancel, you won't be charged any more Instalment Plan fees but the remaining balance will then become subject to your standard purchase rate, which is higher than your instalment plan fee.

If you decide to cancel, any previous monthly fees that you've already paid won't be refunded.

We will also cancel your plan if you miss two Instalment Plan monthly payments across the duration of your Plan.

You can easily cancel Instalment Plans in the credit card section of the mobile app.

If you are having financial difficulties or have any queries regarding your account, please call us on: 0370 333 9091 (Relay UK: 18001 0370 907 0010). Alternatively, please visit our website. We're here to help.

Once cancelled you will not be able to set up a plan for this transaction(s) again.

There is no additional paperwork to complete and we do not carry out any additional credit scoring for any of our Instalment Plan options.

Please note that cancelling your Instalment Plan or missing the monthly Instalment Plan payment will have no impact on your credit rating (any outstanding Instalment Plan balance will revert to your standard credit card purchase rate,  which is higher than your instalment plan fee) but you should always ensure that you repay at least the minimum payment on your credit card as failure to do so will result in fees and could adversely impact your credit rating.

To group multiple purchases (up to a maximum of 5) on a single Instalment Plan:

• Please log into the mobile app and select credit card.
• Select the Instalment Plan Hub and select up to 5 eligible purchases (these must be from the same statement period).
• Click on review plan.
• Look at the different plan options which show the term and associated monthly fee.
• Choose the plan that suits your financial needs.
• Read the "Important Part" section and confirm you still want to proceed.
• Name your Instalment Plan and hit Confirm Plan.
• Your Instalment Plan will be set up on the next working day.
  

Alternatively, you can also add multiple (up to 5 in total) purchases to a plan when setting-up a new Instalment Plan through the "View Transactions" section of your credit card menu.

Our How to Video below can show you how you can easily group multiple purchase on a single Instalment Plan.