Credit Card repayment 

You have a few options when it comes to making Credit Card
repayments. Read on to find out which could work best for you.

What are Credit Card repayments?

Credit Card repayments pay back the money you’ve spent on your Card. At the end of your statement period, you’re in control of how much of your balance you pay, but you must meet the minimum repayment amount.

When your statement arrives, you’ll have a choice of repayment options. To avoid paying more interest, you can pay off the entire Credit Card bill on, or before, the statement due date. Or you can choose to spread your Credit Card repayments over time by paying at least the minimum monthly repayment amount. This means you’ll pay more interest.

Log in to manage your repayments.

What is the minimum repayment on a Credit Card?

Your Credit Card minimum repayment is the lowest amount you must pay by your statement due date to meet the obligations of your contract. This option isn’t recommended as a long-term solution, as it means you’ll pay more interest, and it could take longer to pay off your balance.

Credit Card repayment options

As an American Express® Credit Cardmember, you have the following four payment options:

• Minimum due – the minimum repayment due, as shown on your statement

• Statement balance – the total balance that’s shown on your statement

• Fixed amount – a fixed amount, as set by you, that’s collected monthly via Direct Debit. If the minimum repayment figure is higher than the fixed amount, the minimum due will be collected.

• Total balance – the total balance on your Card when you make a manual payment.

Charge Cards require the full statement balance to be paid each month.

Additionally, Plan It™ is an instalment plan that allows you to pay for your purchases over time in equal monthly instalments, subject to eligibility, minimum transaction amount of £100, fixed monthly fee. Find out more here.

How to pay off your Credit Card balance

You can repay your Card balance in the following ways:

    
Direct Debit – set up a recurring payment for an amount of your choosing, so
you know you’ve got it covered.  

   
Pay with bank transfer in the American Express® App – the easiest and most secure way to pay via bank transfer.

Debit Card – you’ll need all your card details to hand.

Bank transfer – use your bank’s internet banking service to initiate a bank transfer.

Find out how to pay using these methods here.

Tips for paying off your Credit Card balance

There are several things that could help you keep track of your Card use and repayment deadlines.

• Use the American Express® App. Switch on notifications to keep an eye on your Credit Card balance, or to remind you when a payment is due.

• Pay more than the minimum. Remember, the only way to avoid interest is to pay off your total Credit Card balance on, or before, the statement due date. If this isn’t possible, you can always reduce the amount of interest by paying more than the minimum monthly repayment amount.

• Pay ahead of the deadline – don’t leave it to the last minute.

• Set up a Direct Debit for your repayments so if you ever forget to pay, the money will be transferred automatically.

• Review your spending and make sure you’re not spending more than you can afford to pay off.

• Keep track of your purchases to avoid more debt. Stick to your budget and look for ways to cut costs, reducing all unnecessary expenses.

• Use your savings to repay debt.

• Find a 0% balance transfer credit card, which offers an interest-free introductory period, and could help you reduce debt faster.
  

What to do when you can’t pay off your Credit Card? 

Struggling to make at least the minimum payment due? Discuss your situation with our specialist Financial Hardship team who can support you and try to find a solution that works for you.

Find out more on how to contact our team here.

Useful credit card repayment terms

Here are the most common credit card repayment related terms, so you can fully understand how repayments work.

• Opening balance: The balance on your account at the beginning of a particular statement period.

• Closing balance: The amount you owe at the end of a particular statement period.

• Minimum payment due date: The final day by which you must pay at least the minimum repayment amount to avoid late payment charges.

Explore Our Credit Cards

American Express offers a range of Credit Cards with different rewards and benefits tailored to your lifestyle and interests.