End of credit card payment break | Ulster Bank

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End of credit card payment break

Credit card support

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

Important information 

 

If you've had two payment breaks, please refer to the letter we'll send you around 3 weeks before your payments are due to restart for further help and support.

What to do when your payment break is coming to an end


Before your payment break ends we'll send you details of what you need to do. Your payments will start again on your usual payment date. 

  • If you can afford to pay the minimum monthly payment to your credit card, you can make your next payment as you would normally do.
  • If you can't afford to make your next payment, we can help in a number of ways, depending on whether the changes to your financial situation are temporary or more permanent. 
  • Be sure to go through your options carefully to work out which one is the best one for you, especially as some options may affect your credit file. Additionally, some options mean that you will pay more interest overall.

Please note if you don't take any action, your payments will resume on your usual payment date.

Please remember, failure to make minimum payments, and missing a payment altogether, will likely result in charges and will affect your credit score.

Options to consider

This page covers a range of options which may be applicable for personal customers in different circumstances. Please consider all the options carefully before applying for further support. 



Apply for further temporary support

 

If your finances are temporarily impacted by coronavirus and you can't afford to make your full monthly credit card payments, we're here to help. You can apply for a credit card payment break for a further 3 months and pay £1 or more into your credit card account, based on what you can afford during the break period.

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Icon expand Making reduced payments

To make a reduced payment you'll need to apply for a credit card payment break. You can then make payments based on what you can afford during the payment break. 

 

Step 1 - Credit card payment break

 

When you request a payment break, your monthly payments will be reduced to £1 for 3 months. During this time interest will continue to be applied to the balance, this is likely to result in your balance being higher at the end of your payment break and increase your minimum payments.

Remember that if you have any Instalment Plans on your account, these will be cancelled.

 

You will still be able to spend on your credit card, as long as you remain within your agreed credit limit during the payment break. Any additional spending will increase your overall balance and interest will be applied on any additional spend.

Your credit file won't be affected by taking a payment break, unless you don't remain within your agreed credit limit. However, lenders may take into account other information when making future lending decisions, including, for example, information provided by applicants or bank account information.

 

If your next payment is due within 7 days, we can't guarantee we'll have the payment break in place for that payment, but will set it up for the next future payment.

 

 

Step 2 - Making reduced payments

If you can afford to pay more, it's important that you do so. You can make additional payments at any stage. Any additional payments will reduce the interest you'll pay on the remaining balance.

There are a number of ways you can pay your credit card. You can make a payment through our mobile app or Anytime Banking. Alternatively, you can make a payment through Telephone Banking by calling the number on the back of your card.

 

How to apply for a payment break

If you want to apply for a payment break, Cora your digital assistant can help you sort it. Ask Cora via the 'Need Help' button at the right-hand side of the page and quote 'coronavirus credit card' in your message.

Longer term repayment arrangement

If you cannot afford to begin repayments after your Payment Break, we are here to help.You can call us on 0800 161 5905 or 0345 835 4482 (best for mobiles with inclusive minutes). Open Monday to Friday 8am-8pm and Saturday 8am-1pm. 

Please be aware that some options may affect your credit file.

PayPlan
Add your signposting title here… Independent support available

If you are struggling with your finances, you can get free debt advice. We partner with PayPlan (a third party company), who can offer you free confidential advice for all of your debts. 

Start your journey with PayPlan

Other independent organisations who can help section

Citizens Advice

Free advice on debt, benefits, housing, legal matters, employment and general consumer advice.

Money Advice Service

Free Money Navigator tool which gives you action plans based on your own situation.

Advice NI

Free, confidential and impartial debt and money advice from Advice NI

 

Need further support with your finances? 

You can find more help and advice on our struggling financially page. 

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