Minimum monthly payment

[DinosaurDiana]

Several months ago me and DH had a ‘chat’ where he agreed to no longer use his credit card other than for big, agreed, purchases such as holidays.
I can see that he has been paying his cc off from our joint account.
Last month £100 and this month £90. Can anyone give me an approximate amount on his account if the minimum monthly payment is these figures ?

Isn’t minimum monthly payment usually around 3% of the total balance

Yes minimum payment is usually between 3 & 5%

So probably somewhere between £2k - £3k

Thank you

so you have a joint bank account and don't ask him how much his cc bill total is?

sorry thats not judgemental but, its not tackling the cc debt if you just pay off the minimum and will be costing a lot in interest overall. Why not sit down together and sort out the debt as in the long run it will be cheaper and after all the money to pay it is coming from joint finances and ultimately will cost both of you more not just him

No, it’s his credit card in his name.
And his wages go into the joint account, so he pays it off with that.
The privacy/secrecy couples expect/tolerate is a whole different thread !

Some cards have a minimum payment as low as 1% of the balance, which would make the balance £9-10k.

But do you know it's actually the minimum payment he's making? You can set the payment for any amount you like.

If he's carrying a balance on a credit card, has he transferred it to a zero or low interest card, so you pay the balance off and save a lot of interest?

Would he be open to having a fixed amount of spending money, with you getting the same amount, which can be used to pay the credit card off and any new purchases? Separate personal from joint spending and stop him spending family money on his own personal stuff?

He offered to get rid of his credit card, but that felt ‘controlling’ on my part. But part of the reason we got to that chat was his finances.
I asked him to set up an account for himself and direct debit out as much as he wanted every month, and that was for whatever he wanted to spend it on, he didn’t want to do that. And now he’s gone back on his word and is using his cc again.
Yes, it’s his personal and private cc but if he doesn’t keep it under control it will be family money that pays it off.