What was payment break plan (PBP)?

PBP was a feature available with SkyCard and Monument cards that allowed you to freeze your credit card account for up to 24 or 30 months if

  • Your household income was reduced by at least 25% because of involuntary unemployment, an accident, sickness, or caring for a child or incapacitated relative
  • You or your partner were hospitalised
  • Your partner died
  • You or your partner were called up for jury service
  • Your home was damaged because of a natural disaster
  • You or your partner were posted overseas as a member of the Armed Forces

During the freeze, you’d have no minimum monthly payments to make, and no fees, interest or other charges would be added. You couldn’t use your card during this time.

PBP wasn’t an insurance policy. It didn’t pay anything out or pay off any of your balance.

What PBP cost
Depending on the type of card and the period it was active, PBP cost 49-89p per £100 of your card balance, up to a maximum balance of £2,500 until 2006, when it increased to £2,800.

It was charged monthly and classed as a purchase, which means you may have incurred interest on it if you didn’t pay your statement balance in full.