| APR | 16.9% APR typical (variable) |
| Other interest rates | Introductory rate | Monthly rate* | Annual rate* |
| Purchases | 0% until
1 August 2008 | 1.313%
or 1.527% | 16.9% or
19.9% pa variable |
| Balance Transfers | 0% until
1 August 2009 on balance transfers put on the Account by 1 September 2008 | 1.313%
or 1.527% | 16.9% or
19.9% pa variable |
| Cash Advances | N/A | 1.873%
or 1.941% | 24.9% or
25.9% pa variable |
|
*The rate you get will depend on your circumstances
|
| Interest-free period | Maximum 45 days for purchases if you pay your balance in full and on time. There is no interest-free period on cash advances. Interest-free period on balance transfers only applies to the introductory period. |
| Interest charging information |
The periods over which interest are charged are as follows:
Purchases
From: The date the transaction is made
Until: repaid in full
Balance transfers
From: The date the transaction is made
Until: repaid in full
Cash withdrawals
From: The date the transaction is made
Until: 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. |
| Allocation of payments |
The minimum payment will be allocated to interest due, any card repayment protection premium, and charges (in that order) and then between the Revolving Balance and any Transferred Balances (where applicable).
Any amounts over the minimum payment will be applied in the following order:
- Transferred Balances on which interest is charged at a promotional rate (in the order they were put on the Account); and
- the Revolving Balance in the following order:
(i) Charges;
(ii) Transferred Balances that are not charged at any introductory or promotional rates (including any Transferred Balances on which any introductory or promotional rate is no longer charged) and Purchases;
(iii) Cash Advances.
- Please see Conditions 2 and 5 of the Egg Card Agreement for full information. |
| Minimum repayment |
The full outstanding balance if it is less than £5, but otherwise the greater of
(1) £5 or
(2) 2% of the Revolving Balance or
(3) interest plus repayment protection premium;
plus for Transfered Balances made during any promotional periods the greater of
(1) £5 or
(2) 2% of the Transfered Balance. |
| Amount of credit |
Minimum credit limit of £500. |
| Fees |
No annual fee. |
| Charges |
Cash withdrawals - 3% with a minimum of £3.00.
Special Promotion balance transfers - we will inform you of the handling fee when we tell you about the Special Promotion.
Introductory rate balance transfers - 3% handling fee.
Anniversary balance transfers - 2.5% handling fee.
Paper copies of statements - £2.00.
Overseas transactions - 2.75% (including purchase of foreign currency and travellers' cheques). |
| Default charges |
Late payment fee - £16
Over credit limit fee - £16
Returned payment fee - £16 |
| Illustrative Example | For a purchase of £1,000 on your credit card... |
| Monthly Payment | If you paid the Minimum Payment each month | If you paid £50 each month |
| How much interest will you be charged in the first year? | £151 | £124 |
| How much interest will you be charged in the second year? | £139 | £43 |
| How long would it take to clear the balance? | 23 years | 2 years |
| The above example assumes the typical rate of 16.9% APR and the following: The transaction takes place on 1 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 15th of each month and you do not have card repayment protection. |
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