Summary
The information contained in this table summarises key product features and is not intended to replace any terms and conditions.
APR
| Typical 14.9% APR variable |
|---|
Other interest rates
| Introductory rate
| Monthly rate platinum | Annual rate platinum |
|---|---|---|---|
| Purchases | N/A | 1.167% | 14.94% |
| Cash advances | N/A | 1.736% | 22.95% |
| Balance transfers | 0% for 6 months | 1.167% | 14.94% |
| Cheques | N/A | 1.667% | 21.95% |
Interest free period |
Maximum 59 days for purchases if you pay the balance in full and on time. There is no interest free period on cash advances, cheques or balance transfers. |
Interest charging information |
We charge you interest on purchases and cash advances from the date of the transaction and for cheques, balance transfers and all other amounts from the date we first charge the amount to your account. However, if you pay your total balance in full and on time each month, you will not be charged interest on purchases. If you do not pay the total balance shown on your statement each month, we will add the interest charged to your next statement balance. |
Allocation of payments |
If you do not pay off your balance in full we will allocate your payments to balances with a 0% interest rate before balances with higher interest rates. For full details of the allocation of payments see condition 3.6 of the Credit Card Conditions. |
Minimum repayment |
2% or £5 each month, whichever is more | |
Amount of credit |
Minimum credit limit | £200 |
| Maximum credit limit | £25,000 Subject to status | |
Fees |
No annual fee. | |
Charges |
Cash advance fee | 2% (minimum £2) |
| Foreign exchange commission | 2.75% | |
| Minimum interest charge | 50 pence | |
Default charges |
Late payment fee | £12 |
| Overlimit fee | £12 | |
| Returned payment fee | £12 | |
Interest explained - Based on the typical APR as indicated above |
| We would not recommend paying only the minimum payment. Only making the minimum repayment maximises the interest you will pay and length of time it will take to clear your balance, as highlighted in the example below. |
Illustrative example |
For a purchase of £1,000 on your credit card... | |
Monthly payment |
Minimum payment each month |
£50 each month |
Taking into account any introductory rates, how much interest will you be charged in the first year?
| £135 | £113 |
|---|---|---|
How much interest will you be charged in the second year?
| £122 | £40 |
How long would it take to clear the balance?
| 20 years, 1 months | 2 years, 2 months |
This table assumes the following: the transaction takes place on the first date of agreement and you make no further transactions. You always make the payment each month on the 15th. Your statement is produced 31 days after you make the purchase.