Summary Box - Summarising Key Product Features The information contained in this table summarises key product features and is not intended to replace any terms and conditions. It is important you read the full terms and conditions carefully.
| Advantage Credit Card |
|
Promotional rate
(for 6 months) |
Purchases |
0% |
| Balance transfers |
0% |
| Cash withdrawal |
n/a |
| Annual interest rate |
Standard purchase rate APR |
18.9% |
| Cash withdrawal APR |
18.9% |
| Credit card cheques APR (when offered) |
15.7% |
| Monthly interest rate |
Purchases |
1.456% |
| Cash withdrawal |
1.456% |
| Credit card cheques (when offered) |
1.226% |
| Standard interest free period |
For purchases if you pay your balance in full, by the due date |
46 days |
| For cash withdrawals, credit card cheques and balance transfers |
0 days |
| Platinum Credit Card |
|
Promotional rate
(for 6 months) |
Purchases |
0% |
| Balance transfers |
0% |
| Cash withdrawal |
n/a |
| Annual interest rate |
Standard purchase rate APR |
14.9% |
| Cash withdrawal APR |
14.9% |
| Credit card cheques APR (when offered) |
14.9% |
| Monthly interest rate |
Purchases |
1.167% |
| Cash withdrawal |
1.167% |
| Credit card cheques (when offered) |
1.167% |
| Standard interest free period |
For purchases if you pay your balance in full, by the due date |
59 days |
| For cash withdrawals, credit card cheques and balance transfers |
0 days |
| Allocation of payments |
If you do not pay your outstanding balance in full on the payment set out in your statement payment is applied to that balance toward, in order; interest, charges, other administration, fees, credit advanced in the following order; promotional balances, cheques, cash withdrawals, purchases (which includes any payment protection plan). If you have more than one such transaction in any of these categories outstanding for different periods of time your payment will reduce the balance in order from the oldest to the most recent. |
| Interest charging information |
The periods over which interest are charged are as follows:
|
|
From |
Until |
|
Purchases |
transaction date |
statement date |
|
Cash withdrawals |
transaction date |
statement date |
|
Balance transfers |
date debited to your account |
repaid in full* |
|
Cheques |
date debited to your account |
repaid in full* |
* If you pay the balance in full, the interest charge for the period from the previous statement to the date of full repayment will be debited the following month. |
|
Minimum repayment |
2% of outstanding balance or £5 (whichever is greater) |
|
Amount of Credit |
Platinum credit cards - Minimum credit limit of £5,000, maximum credit limit subject to status.
Advantage credit card - Minimum credit limit of £500, maximum credit limit subject to status. |
|
Fees |
No annual fee |
|
Charges |
Cash withdrawal (Inc. travellers cheques & foreign currency) |
2.5% of value,
min of £2.50 |
|
Balance transfer fee for the Advantage credit card and Variable Rate Platinum credit card (applicable during promotional rate periods only) |
2.5% of value,
min. of £5 |
|
Credit card cheques |
2% of value,
min. of £2 and
a max. of £25 |
|
Overseas transaction |
2.75% of transaction |
|
Bank activated stop on credit card cheque (exceeds limit) |
£30 |
|
Customer activated stop on credit card cheque |
£8 |
|
Duplicate statement |
£5 |
|
Copy sales purchase voucher |
£5 |
|
Default charges |
Late payment (payment received after the due date) |
£11 |
|
Exceeding credit limit |
£11 |
|
Uncleared payment cheque |
£11 |
|
Payment Example |
| Illustrative Example |
For a purchase of £1,000 on your credit card |
| Monthly Payment |
18.9% APR Typical/Variable |
14.9% APR Typical/Variable |
| Without taking into account any introductory rates, how much interest will you be charged in the first year? |
If you paid the minimum payment each month |
£169.39 |
£133.67 |
| If you paid £50 each month |
£138.71 |
£109.19 |
| How much interest will you be charged in the second year? |
If you paid the minimum payment each month |
£158.85 |
£121.03 |
| If you paid £50 each month |
£51.58 |
£36.08 |
| How long would it take to clear the balance? |
If you paid the minimum payment each month |
28 years
9 months |
20 years
2 months |
| If you paid £50 each month |
2 years
0 months |
1 year
11 months |
| The above examples assumes the following: The transaction takes place on 1st January and you make no further transactions. Your statement is produced on the 1st of each month and you always make the payment on the payment due date of each month. |