Features Summary

Credit limit:
We will choose your credit limit and tell you what it is. We will also agree the individual cardholder limits for your account with you.

APR for card purchases, balance transfers and cheque transactions:

15.9% APR (variable)(assuming £7,000 credit limit)

Promotional Rate:
7.9% p.a. on balance transfers, card purchases and cheque transactions, for six months from the account opening date.Other rates including handling fees.

22.9% APR variable, on cash transactions.


Interest Free Period
If you pay your statement balance in full and on time each month, you get up to 57 days’ interest free on retail transactions.

Interest Charging Information
We will charge interest on handling fees, and on interest you already owe, at the rate which applies to the relevant transaction or charge (for example, a cash transaction or a retail transaction). However, we will always charge interest on any membership fee and the charges in the Default Charges section at the rate which applies to retail transactions. Except as stated in paragraph 1e, we will charge interest on all transactions, fees, other charges and interest starting on the transaction date and ending on the date you pay the bill in full. We work out interest each day, so the earlier you make payment, the less interest you will have to pay.

Allocation of Payments
We will use your payments to pay fees, interest and transactions on your statement (in that order) which have lower interest rates. After that, we will use your payments to pay fees, interest and transactions on your statement (in that order) which have higher interest rates. If there is any amount left over, we will use it to pay, in this order: fees, interest, and transactions with lower interest rates not yet showing on your statement before those with higher interest rates.

Monthly Minimum Payment

The lesser of:
2.25% of the balance shown on the statement (as long as this is at least £5); or interest charged on the statement and fees, plus £5; or the balance on the statement if this is less than £5.

Yearly Membership Fee
£50

Other Charges
We will charge a handling fee for cash transactions of 2% of the amount of the cash transaction. This will be at least £2. If you ask us to provide any documents such as copies of statements, vouchers and cheques, or if you ask us to accept payment from you other than by cheque, direct debit or payment over the counter at a bank, you may have to pay our administration charges to cover our costs. We will tell you about these at the time.

Default Charges
£20 each time your payment has not reached your account within one day of your payment due date.£35 each time a cheque, direct debit, a Syscap credit-card cheque or other item for payment is unpaid.Each time the account or any cardholder balance goes over the credit limit or relevant cardholder limit (after taking into account any items not yet shown on any statement) you may be charged £20.