Barclaycard Minimum Payments Cut to £5, But Martin Lewis Warns of Hidden Danger

Barclaycard, the UK’s largest bank, is making a potentially risky change to minimum debt repayments, setting them at just £5 for all customers. Financial expert Martin Lewis warns that this seemingly harmless move could significantly increase the total cost of debt for customers struggling to repay their balances. By paying only the minimum, borrowers may end up extending their debt repayment period by a decade, accumulating thousands of pounds in additional interest charges.

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