Coronavirus: credit card support | Ulster Bank

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Credit card support

Coronavirus payment break

App available to customers aged 11+ with compatible iOS and Android devices and a UK or international mobile number in specific countries. Anytime Banking available to customers aged 11+ with an Ulster account.

Coronavirus credit card support

It's important that you make at least your minimum monthly payment on time to avoid affecting your ability to get credit in the future. If you are finding it difficult to pay your monthly credit card payments as a result of coronavirus, then remember that you can reduce payments to the minimum amount.

Direct Debits

If you have a direct debit set up for your monthly payments, you can cancel that via the mobile app or through Online Banking. You can still make one off payments every month to ensure you pay at least your minimum  monthly payment

Monthly payments

Paying your minimum monthly payment can help you reduce your costs in the short term, however it means that it would take longer to pay off your credit card debt. If you are able to pay more than the minimum monthly payment you could clear your balance sooner and prevent interest from building up.

Applying for a credit card payment break

 

From 1 April 2021, we can only accept applications to extend an existing payment break provided you have not received the maximum of six months support. Any agreed extension will be for 3 months or stop after your July statement (whichever is sooner).

If you know your finances are unlikely to improve and you are worried about the long-term impact of coronavirus, it's important that you get in touch with us to discuss your options. Visit our dedicated page for more information. 

Struggling financially

Additional Support 

Is your existing credit card payment break coming to an end?

When your payment break comes to an end we’ll get in touch to let you know what you need to do.

Find out more about your options.



Paying your minimum monthly payment can help you reduce your costs in the short term, however it means that it would  take longer to pay off your credit card debt. If you are able to pay more than the minimum monthly payment you could clear your balance sooner and prevent interest from building up.

 

Credit card payment break FAQs

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Icon expand What is a credit card payment break?

A credit card payment break will mean you only need to make a £1 monthly payment to your credit card for 3 months. Over the break, interest will still be added to your bill each month, so your credit card balance will increase over the payment break. 

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Icon expand Will taking a payment break impact my credit score?

No, you don’t need to worry, taking a payment break and reducing your payment to £1 will not impact your credit score as long as you pay the £1 each month.

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Icon expand Can I still use my credit card if I take a payment break?

Yes, you can continue spending as normal but please ensure your balance stays within the limit. 

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Icon expand When will the payment break start?

Once we have received your request, we will review it and contact you within 7 days with the outcome of your request.

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Icon expand I currently pay my credit card by Direct Debit, do I need to do anything?

If your direct debit is set to the minimum payment, then you will not need to do anything. If your direct debit is set up to pay in full or a fixed amount we will amend this for you to take the minimum payment. However, if your full or fixed payment direct debit is due to be taken in the next 6 working days this is likely to still be taken.

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Icon expand How do I make my £1 payment?

If you don’t have a direct debit set up, then you must still make your £1 monthly payment by your due date. You can only make this in the mobile app or Anytime Banking. 

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Icon expand I have several Ulster Bank credit cards, can I take a payment break on them all?

Yes you can, please include each card when you apply.

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Icon expand Will I still receive my monthly statement?

Yes, if you set up the payment break you will still get your statement, however your monthly payment due will show as £1 (if you apply and are accepted for a payment holiday). 

Is your existing credit card payment break coming to an end?

When your payment break comes to an end we'll get in touch to let you know what you need to do. Find out more about your options

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