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Question regarding APR rates & minimum monthly payments

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Was asked by a freind today for a bit off advice about his credit card.


He has a vanquis card with a £500 limit on it.

He has a balance of just under £300 on it and is up to date with the payments.


His statement askes for a minimum monthly payment of £10.00

But at the bottom of the statement it says estimated interest next month if you only make the minimum payment is £14.00.


Then there is a statement that says it will take you longer to pay off your debt if you only make the minimum payment, well in actual fact you would never pay it off even if you paid it for 100 years, the debt would actually be more is a hundred years then it is now.


Surely there is some legislation that even if you only make the minimum payment the balance should decrease by some amount not increase.


The statement says the APR is 34.9%.

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