Instalment Plan from Barclaycard

Instalment Plan

Spread the cost of a purchase into equal chunks

Subject to application and status. T&Cs apply

So what exactly is an Instalment Plan?

If you’ve just spent £100 to £5,000 in one go on your Barclaycard, an Instalment Plan could be an easy way to spread the cost over 3 to 24 months at 0% interest, plus a fee (between 1% and 8%) – subject to your available credit limit. You get to choose your preferred end date, the equal monthly payment amount and fee, so you’ll know exactly when it’ll be all done and dusted.

Is an Instalment Plan right for me?

If you’re making a big buy this month, like booking a holiday or getting the car serviced, an Instalment Plan is a helpful way to give you more time to pay it off. With 0% interest until the end of your Plan (including the fee) you could find it’s a cheaper way of paying for your purchase.

Each Plan has a fee that’s based on the cost of your purchase, and how long you want it to run for. It’s added equally across the duration of your Plan, so shorter Plans have a lower fee but will mean higher monthly payments.

An Instalment Plan will increase your monthly minimum payment, so you need to be sure that you can still pay this in full and on time every month. This increase could be significant if you choose a shorter term or if the purchase amount is high.

You’ll still benefit from any existing interest-free periods on other purchases if you continue to pay your Plan payments plus your main balance (that’s your statement balance excluding any Instalment Plans) in full each month. This amount will be shown on your monthly statement.

Certain types of purchases will also be covered by Section 75 protection and chargeback benefits (your standard credit card purchase protection). Find out how Section 75 could cover your purchase if it’s damaged, faulty or not delivered.

Here’s some typical examples

Check out an example of three ways a £1,000 Plan could play out. Remember, you decide the length of your Instalment Plan, from 3 to 24 months.

6 Month Plan 2% fee, 0% interest

Purchase	£1,000
Monthly Payments	£170
Fee to pay (included in monthly payment)	£20
Total to repay	£1,020
Loan equivalent	Equivalent to 7.04% APR on a loan

12 Month Plan 4% fee, 0% interest

Purchase	£1,000
Monthly Payments	£86.67
Fee to pay (included in monthly payment)	£40
Total to repay	£1,040
Loan equivalent	Equivalent to 7.55% APR on a loan

24 Month Plan 8% fee, 0% interest

Purchase	£1,000
Monthly Payments	£45
Fee to pay (included in monthly payment)	£80
Total to repay	£1,080
Loan equivalent	Equivalent to 7.76% APR on a loan

How is it done?

Check your available Barclaycard credit before buying an item from £100 to £5,000

Log into your Barclaycard online servicing account and under ‘Transfers and Offers’ choose ‘Instalment Plan’

Get a quote by choosing your monthly payments, end date (from 3 to 24 months) and fee

Make sure you’ve read and understood the terms and conditions, and tick the box to continue

That’s it. Once you’ve created a Plan, the purchase amount will be moved from your standard balance to your Plan balance. There’s some important info you need to know before setting up your Instalment Plan – like how your minimum payments are affected and what happens if you miss a payment. Read our Instalment Plan key points for more details.

Important things to bear in mind before you start

Check before you shop

Using your Barclaycard to withdraw cash from ATMs could affect your eligibility for an Instalment Plan, so bear this in mind before you apply.

You also need to make sure you’ve got at least 15% of your credit limit still available after buying your item.

So before you buy, log into Barclaycard online servicing to check you have enough credit and review the offer details.

Fee information

Each Plan has a fee of between 1% and 8% that’s added in equal monthly chunks for the length of your Plan. It’s based on the cost of your purchase and how long you want the Plan to run for. So bear in mind that shorter Plans have a lower fee, but will mean higher monthly payments. Log into Barclaycard online servicing for your offer details.

Your minimum payments will go up

When you add a Plan, your minimum monthly payment will naturally increase as it’ll remain part of your credit limit.

Remember, if you don’t make at least your minimum payments, you’ll need to pay a late payment fee and your credit rating may be affected.

If you miss or underpay two Plan payments in a row, we’ll have to cancel your Plan and move whatever you’ve got left to pay back to your standard balance. And this means you’ll then pay a higher interest rate.

If you’re ever having problems with your payments, get in touch on 0333 200 9090. Lines are open between 7.00am-8.00pm Monday to Friday and 9.00am-5.00pm Saturday and Sunday.

Your Plan payments come first

They're built into your regular Barclaycard payments, so there's no separate amount to pay each month.

It’s important to understand how your Plan works alongside your other Barclaycard balances. When you make a payment, we’ll use it to pay off your balance in this order;

Your Plan payment for that month.
Any balances you’ve got on your Barclaycard (starting with the ones with the highest interest).
Any remaining Plan balance.

So when you make a monthly payment, it’ll go towards paying off your Plan first and not balances with higher interest rates. This means you’ll end up paying more interest on those balances unless you pay them off in full by the payment due date.

You can cancel for any reason

You can cancel your Plan for any reason by getting in touch on 0333 200 9090. Lines are open between 7.00am-8.00pm Monday to Friday and 9.00am-5.00pm Saturday and Sunday.

If you cancel your Plan, any remaining Plan balance will be moved to your standard balance and charged interest at your standard rate.

If your Plan ends early, we’ll refund a proportion of your one off fee.

Ready to set up an Instalment Plan?

Before you can create an Instalment Plan, you’ll need to log into your Barclaycard online servicing account to make sure you have an offer available.

Barclaycard online servicing

Log in to or register your Barclaycard account and select ‘View your offers’. See if you have an offer and then apply online.

Forgotten your username or ID number?

If you prefer to do things over the phone, give us a call on 0333 200 9090, between 7.00am-8.00pm Monday to Friday and 9.00am-5.00pm Saturday and Sunday (call charges apply)

Make sure you’ve read our Instalment Plan key points before you apply.

FAQs

Will an Instalment Plan affect my minimum monthly payments?

When you set up a Plan, your purchase amount will be moved from your standard balance to your Plan. We’ll then evenly split your purchase amount and the one-off fee over the length of the Plan, which you can choose to be any time between 3 and 24 months.

The repayments will make your minimum monthly payment higher, so make sure you can afford the increase before you set up a Plan. For full details, all the important information and to see if there’s a Plan offer available to you, log into Barclaycard online servicing.

Before you get started, note that if you fail to make two consecutive minimum payments on time, or if you don't pay enough to cover your increased monthly minimum payment each month, we'll automatically cancel your Plan. This means we’ll move your remaining Plan balance back to your standard balance and start charging interest on it at your standard rate. We’ll also refund part of your one-off fee.

How do Direct Debits work with my Plan?

If you only make your minimum payment each month by Direct Debit, it will increase as your monthly Plan payment will be included as part of it.

If you make a fixed Direct Debit payment each month, we’ll increase it if your current amount doesn’t cover the new minimum payment that’s required as it now includes your Instalment Plan payment. If in any month you’ve not spent on your account and your current fixed amount is more than your monthly Instalment Plan payment, we’ll only take enough to cover the Instalment Plan. You won't be able to make a payment over and above the Instalment Plan amount due.

If you pay in full each month – we'll only collect your main balance plus your Instalment Plan payment(s) for the month.

What happens if I want to cancel my Plan early?

If you want to cancel your Instalment Plan, just get in touch on 0800 151 0900 or 0333 200 9090 and we'll get it sorted for you. You can read about our call charge information here.

If you cancel your Plan, any remaining Plan balance will be moved to your standard balance and charged interest at your standard rate. If you’ve come into some cash and can pay off the Instalment Plan early you can do so at any time. We’ll then refund a proportion of the fee you’ve paid.

What happens if I can’t afford my Plan payments?

How are my payments applied when I have a Plan?

Instalment Plan payments are built into your regular Barclaycard payments, so there’s no separate amount to pay each month. It’s important to understand how your Plan works alongside your normal Barclaycard balance.

As your Plan comes first it may be repaid quicker than any other balances on your account, which are charged at a higher rate of interest. To help explain, here's the order of how we apply your repayments.

Your Plan payment for that month.
Any balances you’ve got on your Barclaycard (starting with the ones with the highest interest).
Any remaining Plan balance.

Can I have multiple Plans at the same time?

Yes – you can have up to 10 Instalment Plans at the same time, as long as you’ve got offers available. All of your Plan payments will be built into your regular Barclaycard payment, and as your Plans come first they might be repaid quicker than any other balances on your account which are charged at a higher rate of interest.

If you have multiple Plans, any overpayments you make will be made towards the oldest Plan first.

Instalment Plan from Barclaycard

Instalment Plan

Spread the cost of a purchase into equal chunks

Subject to application and status. T&Cs apply

So what exactly is an Instalment Plan?

Is an Instalment Plan right for me?

Here’s some typical examples

How is it done?

Important things to bear in mind before you start

Check before you shop

Fee information

Your minimum payments will go up

Your Plan payments come first

You can cancel for any reason

Ready to set up an Instalment Plan?

Barclaycard online servicing

FAQs

Will an Instalment Plan affect my minimum monthly payments?

How do Direct Debits work with my Plan?

What happens if I want to cancel my Plan early?

What happens if I can’t afford my Plan payments?

How are my payments applied when I have a Plan?

Can I have multiple Plans at the same time?

Find a Barclaycard

Tools and calculators

Help and support

Contact us

Instalment Plan from Barclaycard

Instalment Plan

Spread the cost of a purchase into equal chunks

Subject to application and status. T&Cs apply

So what exactly is an Instalment Plan?

Is an Instalment Plan right for me?

Here’s some typical examples

How is it done?

Important things to bear in mind before you start

Ready to set up an Instalment Plan?

Barclaycard online servicing

FAQs

Will an Instalment Plan affect my minimum monthly payments?

How do Direct Debits work with my Plan?

What happens if I want to cancel my Plan early?

What happens if I can’t afford my Plan payments?

How are my payments applied when I have a Plan?

Can I have multiple Plans at the same time?

Want to set up a money transfer instead?

Want to set up a balance transfer instead?

Find a Barclaycard

Tools and calculators

Help and support

Contact us