MoneySavingExpert.com founder Martin Lewis has warned that some Barclaycard customers could be in debt for significantly longer and end up paying more in interest, due to a minimum repayments shake-up. From July 22, Barclaycard is reducing minimum monthly payment requirements for some customers. Around 80% of customers are expected to see their repayments decrease or stay the same based on how they currently use their card. Repayments will be calculated based on whichever is highest of 1% of the customer’s main balance; 1% of the customer’s main balance plus any interest, default fees or account maintenance fees; or the customer’s total outstanding balance, if it is less than £5. A calculation by MoneySavingExpert.com, based on £1,000 of Barclaycard debt, and assuming a typical Platinum card interest rate, indicated that by only paying the minimum, someone could potentially take around 19 years and three months to clear their debt and pay around £1,655 in interest, under the new system. Under the previous system, they may have potentially taken around nine years and eight months and paid around £699 in interest by paying the minimum. The calculation was based on several Barclaycard types, which under the current minimum payments system ensure people...