The change could mean some customers will be left with a debt to pay over an extra decade, the financial expert has said.
Martin Lewis has issued a stark warning about a "dangerous" bank change that could see customers paying significantly more.
He alerted listeners that Barclaycard has notified its customers of changes to the minimum repayments, describing these adjustments as "devious and dangerous" and noting that Barclaycard is lowering them, Wales Online reports. Further detailing the changes, he informed listeners that starting from July 22, the new minimum repayment structure will be implemented.
"For someone who has got £1,000 on a typical Barclaycard - we're talking an APR of 24.9 per cent on the current minimum repayments, if you just make minimum repayment, it would take nine years and eight months to clear in full and that would be a total interest cost of £700.
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