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Simply pick a topic and look for the answer to your question.
Payment difficulties
Cost of living
A.
We know that at times money is tight – made worse by the rising cost of everyday goods and services in the UK. At NewDay we’re committed to helping our customers move forward with credit, providing you with support when you need it.
Find out whether you qualify for help from your local council and/or the government, and whether you’re entitled to any additional support, by following the link below.
www.citizensadvice.org.uk/debt-and-money/get-help-with-the-cost-of-living/
If you’re still struggling to make repayments towards your account, please contact us.
Find out whether you qualify for help from your local council and/or the government, and whether you’re entitled to any additional support, by following the link below.
www.citizensadvice.org.uk/debt-and-money/get-help-with-the-cost-of-living/
If you’re still struggling to make repayments towards your account, please contact us.
Help with payments
A.
If you do not make your contractual minimum payment by your due date you will be charged a fee of £12. You will also be charged a fee of £12 if you go over your credit limit. We report your payment behaviour and any missed payments to Credit Reference Agencies. This may show on your credit file and may make it harder or more expensive for you to get credit in the future.Failing to keep up with your repayments or going over your credit limit will also result in any promotional offers and instalment plans being withdrawn and you will pay the standard purchase rate on these amounts. Buy Now Pay Later and instalment plan balances will be moved to your standard purchase balance. You can find your standard purchase rate on your statement.If you can't make your payment or you are struggling to get back under your limit, we are here for you. We have a team of specialists who can look at your options and find the best way we can help. If you would like to speak to our friendly team, please chat to us in your mobile app or contact us.You can find free, independent advice from the following organisations:Citizens Advice
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000
StepChange Debt Charity
www.stepchange.org
0800 138 1111
We are committed to working with these organisations and helping you to find the best and most affordable solution.
Do contact us to see what we can do to help and support you.
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000
StepChange Debt Charity
www.stepchange.org
0800 138 1111
We are committed to working with these organisations and helping you to find the best and most affordable solution.
Do contact us to see what we can do to help and support you.
A.
If you do not make your contractual minimum payment by your due date you will be charged a fee of £12. You will also be charged a fee of £12 if you go over your credit limit. We report your payment behaviour and any missed payments to Credit Reference Agencies. This may show on your credit file and may make it harder or more expensive for you to get credit in the future.
Failing to keep up with your repayments or going over your credit limit will also result in any promotional offers and instalment plans being withdrawn and you will pay the standard purchase rate on these amounts. Buy Now Pay Later and instalment plan balances will be moved to your standard purchase balance. You can find your standard purchase rate on your statement.
If you can't make your payment or you are struggling to get back under your limit, we are here for you. We have a team of specialists who can look at your options and find the best way we can help. If you would like to speak to our friendly team, please chat to us in your mobile app or contact us.
You can find free, independent advice from the following organisations:
Citizens Advice
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000
StepChange Debt Charity
www.stepchange.org
0800 138 1111
We are committed to working with these organisations and helping you to find the best and most affordable solution.Do contact us to see what we can do to help and support you.
Failing to keep up with your repayments or going over your credit limit will also result in any promotional offers and instalment plans being withdrawn and you will pay the standard purchase rate on these amounts. Buy Now Pay Later and instalment plan balances will be moved to your standard purchase balance. You can find your standard purchase rate on your statement.
If you can't make your payment or you are struggling to get back under your limit, we are here for you. We have a team of specialists who can look at your options and find the best way we can help. If you would like to speak to our friendly team, please chat to us in your mobile app or contact us.
You can find free, independent advice from the following organisations:
Citizens Advice
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000
StepChange Debt Charity
www.stepchange.org
0800 138 1111
We are committed to working with these organisations and helping you to find the best and most affordable solution.Do contact us to see what we can do to help and support you.
A.
If you can't make your payment we are here for you. We have a team of specialists who can look at your options and find the best way we can help. If you would like to speak to our friendly team, please chat to us in your mobile app or contact us.
You can also find free, independent advice from the following organisations:
Citizens Advice
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000StepChange Debt Charity
www.stepchange.org
0800 138 1111
We are committed to working with these organisations and helping you to find the best and most affordable solution.
Do contact us to see what we can do to help and support you.
You can also find free, independent advice from the following organisations:
Citizens Advice
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000StepChange Debt Charity
www.stepchange.org
0800 138 1111
We are committed to working with these organisations and helping you to find the best and most affordable solution.
Do contact us to see what we can do to help and support you.
A.
If you can't make your payment we are here for you. We have a team of specialists who can look at your options and find the best way we can help. If you would like to speak to our friendly team, please chat to us in your mobile app or contact us.
You can also find free, independent advice from the following organisations:
Citizens Advice
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000
StepChange Debt Charity
www.stepchange.org
0800 138 1111
We are committed to working with these organisations and helping you to find the best and most affordable solution.
Do contact us to see what we can do to help and support you.
You can also find free, independent advice from the following organisations:
Citizens Advice
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000
StepChange Debt Charity
www.stepchange.org
0800 138 1111
We are committed to working with these organisations and helping you to find the best and most affordable solution.
Do contact us to see what we can do to help and support you.
A.
If you can't make your payment or you are struggling to get back under your limit, we are here for you. We have a team of specialists who can look at your options and find the best way we can help. If you would like to speak to our friendly team, please chat to us in your mobile app or contact us.
You can also find free, independent advice from the following organisations:
Citizens Advice
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000
StepChange Debt Charity
www.stepchange.org
0800 138 1111
We are committed to working with these organisations and helping you to find the best and most affordable solution.
Do contact us to see what we can do to help and support you.
You can also find free, independent advice from the following organisations:
Citizens Advice
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000
StepChange Debt Charity
www.stepchange.org
0800 138 1111
We are committed to working with these organisations and helping you to find the best and most affordable solution.
Do contact us to see what we can do to help and support you.
Persistent debt
A.
The Financial Conduct Authority (FCA) has considered ways in which credit card customers can avoid long term debt. Your account will be considered in Persistent Debt if over the course of 18 months you are paying more in interest, fees and charges than paying back the amount you've borrowed. This usually happens when you pay only the contractual minimum payment, or an amount close to it, each month. It is an expensive way to borrow money and it can often take a long time to repay what you owe.
A.
The FCA requires us to monitor your account to check it's not falling into persistent debt. If you do enter persistent debt, we will contact you to let you know and suggest ways that you can increase your payments. You can still use your card as normal as long as you stay within your credit limit. However, we won't be able to offer you any credit limit increases.
If your account is still in persistent debt after 36 months, the FCA requires us to take additional measures to help you pay off your balance in a reasonable period. In certain circumstances we may need to freeze your card until you increase your repayments.
If your account is still in persistent debt after 36 months, the FCA requires us to take additional measures to help you pay off your balance in a reasonable period. In certain circumstances we may need to freeze your card until you increase your repayments.
A.
By paying the contractual minimum payment (or an amount close to it) each month, you've paid more in interest, fees and charges than you have repaid towards the amount you’ve borrowed. Under the Financial Conduct Authority rules, this means your account is currently in ‘persistent debt’.
We've sent you a letter to let you know that after 36 months of being in persistent debt, we’ll need to help you pay off your outstanding balance in a reasonable period, which could mean preventing you from using your account.
We've sent you a letter to let you know that after 36 months of being in persistent debt, we’ll need to help you pay off your outstanding balance in a reasonable period, which could mean preventing you from using your account.
A.
Regularly making payments higher than the contractual minimum payment will help to avoid your account being considered in Persistent Debt. To help you do this, we have introduced Boosted Payments. This is a variable higher payment which will clear your balance faster and help you save on interest. You can of course make additional payments whenever you choose.
A.
A PayDown Plan helps you pay off your balance within a period of three or four years. This means you’ll save on interest in the long run, as you’ll be paying an amount each month towards paying off your balance.
A.
We’ll take additional measures to help you pay off your balance within a reasonable timeframe. The key changes will be:
- Your balance will be put onto a PayDown Plan to help you repay your balance. You can choose between our Standard PayDown Plan (4 years, 48 monthly instalments) or our Fast Track PayDown Plan (3 years, 36 monthly instalments).
- The PayDown Plan monthly instalment will be part of your contractual minimum payment each month.
- If you continue to spend on your account after your balance has been put into a PayDown Plan, you’ll need to make a higher payment each month (this will mean you’ll pay less interest as you’ll be paying it off faster).
A.
The PayDown Plan is only available when an account has been in persistent debt for 36 months. We’re not able to move you on to it before then.
A.
You’re not able to opt out of a PayDown Plan. However, if you can afford to do so, you can make additional payments whenever you like to help pay the balance of the PayDown Plan off earlier.
A.
Unless we have told you otherwise you can continue to use your account within the agreed limit on the account.
A.
If you’re able to pay Boosted Payments, you’ll need to maintain these payments going forward to take your account out of persistent debt and avoid it in the future. The easiest way to ensure you don’t miss a Boosted Payment is to set up a Direct Debit and by opting to pay Boosted Payments each month, it will help you to pay off your balance quicker and save money on interest too.
It’s important that if you decide to pay a Boosted Payment you need to make sure you can afford to do this every month. Please note that if you make your Boosted Payment before your payment due date it will also cover your Payment Requested for that month.
Direct Debit customers
If you pay the Boosted Payment amount manually, and at least 5 working days before your Direct Debit is due to be collected, your Direct Debit will be reduced by the amount paid. If you change to a Boosted Payment Direct Debit this should be done 5 working days before your Direct Debit is due to be collected to ensure the Boosted Payment is collected.
It’s important that if you decide to pay a Boosted Payment you need to make sure you can afford to do this every month. Please note that if you make your Boosted Payment before your payment due date it will also cover your Payment Requested for that month.
Direct Debit customers
If you pay the Boosted Payment amount manually, and at least 5 working days before your Direct Debit is due to be collected, your Direct Debit will be reduced by the amount paid. If you change to a Boosted Payment Direct Debit this should be done 5 working days before your Direct Debit is due to be collected to ensure the Boosted Payment is collected.
A.
If we have told you that your credit limit has been reduced or your card suspended, you must ensure that you use an alternative payment method to meet any recurring transactions such as television or magazine subscriptions. These transactions may not be authorised if doing so would mean you would go over your credit limit.
A.
If you have chosen to pay a Boosted Payment Direct Debit, there is no need to make any changes.
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If you have an instalment plan or active promotional offer (such as Buy Now Pay Later or promotional rate) on your account, these will not be moved onto your PayDown Plan. This will be moved onto your PayDown Plan only when the instalment plan or promotional rate ends or is cancelled. All other balances will be moved onto a PayDown Plan.
A.
Unless we have told you otherwise, you can continue to use your card within the agreed credit limit (shown on your letter). For future spending, you'll now need to make a higher repayment each month compared to what you were previously making. This does mean you'll pay less interest as you'll be paying your balance off faster.
Persistent debt PayDown Plan (Payment difficulties)
A.
We need to help you pay off your balance which is why we've moved your balance to a PayDown Plan. The plan has 48 monthly instalments and will ensure your balance is paid off within 4 years.
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If you incur a fee after your account has been in persistent debt for 36 months, we will ask you to pay the fee plus the same amount again. The second amount will go towards paying off your balance faster and will help to take you out of persistent debt.
A.
If you continue to pay your contractual minimum payment (which now includes a PayDown Plan monthly instalment), your credit score won't be impacted due to having a PayDown Plan.
If you are over limit you should try to get your account back under limit as quickly as possible as having a balance that is higher than your credit limit could affect your credit scores negatively.
If you are over limit you should try to get your account back under limit as quickly as possible as having a balance that is higher than your credit limit could affect your credit scores negatively.
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No, but if you can afford to, you can pay your PayDown Plan off earlier. If you are struggling to make repayments, please contact us.
A.
Your PayDown Plan instalment amount plus 2 x [interest & fees] on any future spend. This ensures you're always paying back faster and keep your account out of persistent debt.
A.
We want to make sure that your credit card payments remain affordable, which is why we felt it necessary to reduce your credit limit at this time.
A.
If we have told you that your credit limit has been reduced or your card suspended, you must ensure that you use an alternative payment method to meet any recurring transactions such as television or magazine subscriptions. These transactions may not be authorised if doing so would mean you would go over your credit limit.
A.
If we have reduced your credit limit and this is going to cause you financial stress as you rely on your account to help meet the cost of everyday essentials, please contact us.
A.
If you had an active Payment Protection Insurance policy on your account this was cancelled from 31 October 2021 and no further insurance premiums have been charged to your account.If you wish to submit a claim for an event that happened before 31 October 2021 (subject to an active policy being in place at the time of the event) please contact the insurance provider or refer to your insurance policy for more detail.
Struggling to pay
A.
Your arrears and instalments will always be collected as part of your Fixed Direct Debit Plus.
A.
If you can't make your payment we are here for you. We have a team of specialists who can look at your options and find the best way we can help. If you would like to speak to our friendly team, please chat to us in your mobile app or contact us.
You can also find free, independent advice from the following organisations:
Citizens Advice
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000
StepChange Debt Charity
www.stepchange.org
0800 138 1111
We are committed to working with these organisations and helping you to find the best and most affordable solution.
Do contact us to see what we can do to help and support you.
You can also find free, independent advice from the following organisations:
Citizens Advice
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000
StepChange Debt Charity
www.stepchange.org
0800 138 1111
We are committed to working with these organisations and helping you to find the best and most affordable solution.
Do contact us to see what we can do to help and support you.
A.
If we have reduced your credit limit and this is going to cause you financial stress as you rely on your account to help meet the cost of everyday essentials, please contact us.
A.
If we have reduced your credit limit and this is going to cause you financial stress as you rely on your account to help meet the cost of everyday essentials, please contact us.
Payment Holiday
A.
A payment holiday means you don't have to make payments to your account for up to 3 months.
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You can ask for a payment holiday over the phone.If your account is in arrears you can ask for a payment holiday by logging into your Online Account Manager and clicking struggling to pay.
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You will not be able to use your account for any transactions during the payment holiday.
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We will not charge any interest or fees whilst you are on a payment holiday. Your first statement after your payment holiday starts may show fees that were charged before your payment holiday was in place.
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Yes you can, even if you have missed payments.If you have missed payments it is better for you if you use this time to pay back the amount which is overdue. We are here to help, if you are unable to do this before your payment holiday ends please contact us.
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No, we don't report the payment holiday to the Credit Reference Agencies so this will not impact your credit file. However, if you have already missed payments these will be reported and this may impact your credit score.
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You do not need to contact us unless your situation changes. You can check your current balance, or make a one off payment through your Online Account Manager.
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We will send regulatory letters during the payment holiday. We recommend you continue to read these carefully.We may contact you as your payment holiday comes to an end.
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If you pay by Direct Debit, you don’t need to do anything else. We will automatically suspend your Direct Debit and restart it when your payment holiday comes to an end.If your payment is due within three working days of starting your payment holiday, we may have already attempted to collect your payment. If your bank rejects this attempted payment, we will not charge a returned payment fee. If you pay by Standing Order, please cancel this until the end of your payment holiday or your bank will continue to send these payments to us.
A.
If your account is up to date when your payment holiday ends then you will be able to use your account.If your account is in arrears you should try and pay these off before your payment holiday ends.We are here to help and if you are worried about making payments please contact us.There are also a number of independent organisations that you can contact for free guidance on how to manage your finances and debts more effectively:Money Advice Servicehttps://www.moneyadviceservice.org.uk/en/hub/coronavirus-money-guidanceFinancial Conduct Authorityhttps://www.fca.org.uk/coronavirus-supportCitizens Advice
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000
StepChange Debt Charity
www.stepchange.org
0800 138 1111
www.citizensadvice.org.uk
03454 04 05 06
National Debtline (if you are self employed)
www.nationaldebtline.org
0808 808 4000
StepChange Debt Charity
www.stepchange.org
0800 138 1111
A.
If you are up-to-date with your payments and have a payment holiday,we will not charge interest on any promotional offers on your account such as balance transfers, money transfers or Buy Now Pay Later that expire during your payment holiday until the end of your payment holiday.If the promotional offer is not due to expire during your payment holiday it will not be affected.