Rates and charges

Summary box
The information contained in this table summarises key product features and is not intended to replace any Agreement Terms.
APR Representative 22% APR variable
Interest rates   Monthly Rate Annual Rate
Purchases 1.238% 15.9% variable
Cash Advances 1.238% 15.9% variable
Interest free period Up to 56 days (38 days if you pay in full each month by Direct Debit) on Purchases and Cash Advances if you pay your whole balance in full and on time.
Interest charging Information You will not pay interest on new purchases if you pay your balance in full and on time. Otherwise the period over which interest is charged will be:
  From Until
Purchases Date debited to your account Paid in full
Cash Advances Date debited to your account Paid in full
Allocation of payments If the amount you pay in a month is less than the full amount you owe, we will apply the amount you pay in the following order:
  1. any unpaid arrears or amounts over the credit limit;
  2. the amount you owe us and shown in your statement;
  3. any transactions, interest or charges not yet included in a statement.

We will apply your payment first to amounts on your account which we charge at the highest interest rate followed by amounts we charged at lower rates. In each case, interest and charges are paid off first.

If some amounts are charged at the same interest rate, we will apply your payment to the oldest amounts first.

Minimum payment The sum of:
  1. the interest for the period from the last statement;
  2. any fees and charges;
  3. 1.5% of the full amount you owe us as shown on your monthly statement rounded to the nearest pound above minimum £5 or your statement balance if it is lower.
Credit limit Minimum £500
Maximum Subject to status
Charges Cash Advances 2.99% handling fee, minimum £3
Default charges Late payment £12
Foreign Usage Visa rates can be found at www.visaeurope.com/en/cardholders/exchange_rates.aspx
Dependent upon the type of transaction you undertake one or more of the following charges will apply:
  • Non-Sterling Transaction fee - 2.99% of the sterling amount of the transaction
  • Cash Fee - 2.99% of the amount advanced, minimum £3
Fees Annual fee £32
No annual fee for the first year after the card is opened