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