Rates and fees - Student MasterCard
Easy access to cash worldwide and no annual fee.
Representative Example:
Representative 18.9%APR (variable) based on a Credit Limit of £350.
Standard interest rate for purchases: 18.9% p.a. (variable)
| SUMMARY BOX - STUDENT CARD | |||||
|---|---|---|---|---|---|
| The information contained in this table summarises key product features and is not intended to replace any terms and conditions. | |||||
| APR | Representative 18.9% APR (variable) | ||||
| Interest rates | Introductory Rate | Monthly Rate | Annual Rate | ||
| Simple | Effective | ||||
| Purchases | N/A | 1.456% p.m. | 17.5% p.a. | 18.9% p.a. | |
| Cash advances | N/A | 1.875% p.m. | 22.5% p.a. | 25.0% p.a. | |
| Balance transfers | N/A | 1.456% p.m. | 17.5% p.a. | 18.9% p.a. | |
| Money transfers | N/A | 1.456% p.m. | 17.5% p.a. | 18.9% p.a. | |
| Interest free period |
| ||||
| Interest charging information | You will not pay interest on new purchases if you pay your balance in full and on time, and have paid the previous month's balance in full and on time. Otherwise, the period over which interest is charged is as follows: | ||||
| From | Until | ||||
| Purchases, cash advances, balance transfers and money transfers | Date debited to your account | Paid in full | |||
| We work out the interest using the interest rate applying as at the statement date and calculated on the average daily balance since the previous statement date. Any amounts credited to your account will be reflected in the average daily balance over the statement period used for working out the interest due. This means that the amount of interest payable increases as the time between the statement date and date of payment of cleared funds into the account gets longer. The estimated interest payable on your account balance for your next statement is calculated on the assumption that the minimum repayment amount is received on the due date shown on your statement and that the interest rate does not change between the date of this statement and your next statement. This is for guidance only. It does not take into account any transactions made between the date of this statement and your next statement which would attract interest immediately. | |||||
| Allocation of payment | If you do not pay off your balance in full, payments we receive will be allocated to pay the most expensive debt first. See General Condition 6 of your Credit Card Agreement for full details. | ||||
| Minimum repayment | If your account was opened on or before 31 December 2010: Each month, the greater of 3% of your balance (rounded up to the nearest penny) or £5. | If your account was opened on or after 1 January 2011: Each month, the greater of: (i) interest, default charges, 1/12 of your annual fee (if any) and 1% of your remaining balance (excluding any remaining part of the annual fee or (ii) £5. | |||
| If you only make the minimum payment it will take longer and cost more to clear your balance. | |||||
| Credit limit | Maximum credit limit | £350 | |||
| Fees | None | ||||
| Charges | Cash advances | 3.0% handling fee, minimum £3.00 | |||
| Foreign currency transactions | 2.75% exchange fee on non-sterling transactions | ||||
| Returned payment fee | £10.00 | ||||
| Default charges | Late payment fee | £12.00 | |||
| Over-limit fee | £12.00 | ||||
| For further information please read the Credit Card General Conditions | |||||
All rates of interest shown are variable unless stated as fixed, if you break any term of this agreement, we may reduce or end any period that applies to any special offer we have made under the agreement.
We may obtain information about you from credit reference agencies and Group records to check your credit status and identity. The agencies will record our enquiries which may be seen by other companies who make their own credit enquiries. This may affect your ability to obtain credit elsewhere in the near future. We may use credit scoring.
Rates correct as at 9th January 2012.
