What is the minimum payment amount and how is it calculated?

The minimum payment amount for the NatWest Platinum Card is calculated as a percentage of the outstanding balance. The exact percentage may vary, but it typically ranges between 2% and 5% of the total amount owed. This means that the minimum payment amount will depend on how much you have borrowed. For example, if your outstanding balance is £1,000, and the minimum payment percentage is set at 3%, your minimum payment amount would be £30. It is important to note that paying only the minimum amount each month will result in accruing interest charges and prolonging the time it takes to repay the full balance. It is generally recommended to pay more than the minimum amount whenever possible to reduce interest costs and pay off your debt sooner.