Summary
Gold card | |||
|---|---|---|---|
| APR for purchases | Typical 15.9% APR variable | ||
| Other interest rates | Introductory rate | Monthly rate | Annual rate |
| Purchases | 0% for 3 mths* | 1.240% | 15.9% p.a. |
| Cash advances | n/a | 2.075% | 27.9% p.a. |
| Balance transfers | 0% for 13 mths* | 1.240% | 15.9% p.a. |
| *Introductory rates apply from the date the account is opened. Balance transfers at 0% must be made within 3 months of account opening and are subject to a fee of 3% (minimum £3.00) | |||
| Interest free period | Maximum 56 days for purchases if you pay your balance in full and on time. There is no interest free period for cash advances or balance transfers. Interest on cash advances and balance transfers will be charged at the rates shown above. | ||
| Interest charging information | Whenever the interest free period does not apply, interest starts from the date of the transaction and will continue until any statement balance is paid in full. Interest is calculated daily on the account balance. | ||
| Allocation of payments | We will apply payments initially to fees, charges and interest shown on your statement, and subsequently, to the debt bearing the highest interest rate. | ||
| Minimum repayments | 3% or £5.00 whichever is the higher. | ||
| Amount of credit | Minimum credit limit of £500, maximum credit limit subject to status. | ||
| Fees | No annual fee | ||
| Charges | |||
| Balance transfer fee payable on each balance transfer made within 3 months of account opening | 3% (min £3.00) | ||
| Cash advances | 2.50% (min £3.00) | ||
| Copies of statements | nil | ||
| Foreign transactions commission | nil | ||
| Default charges | Late payment | £12.00 | |
| Over limit | £12.00 | ||
| Returned item | £12.00 | ||
| Based on a purchase of £1,000 | ||
|---|---|---|
| Gold Card (15.9% APR) | ||
| Monthly Payment | Minimum paid each month | £50 paid each month |
| Including introductory rates, how much interest will be charged in the first year? | £95 | £77 |
| How much interest will be charged in the second year? | £105 | £33 |
| How long would it take to clear the balance? | 11 years 9 months | 1 year 11 months |
| Table assumes initial transaction takes place on the first date of the agreement and no further transactions are made. Payment is always made each month on the 15th. | ||