Credit Cards

The Santander Zero Credit Card

Features: Summary:
APR: Typical 18.9% APR (variable)
Other interest
Introductory/Promotional rate Monthly rate Annual rate
rates:
Purchases: 0% for 3 months 1.435% 18.9%
Balance 0% for 12 months from date of account
1.435% 18.9%
Transfers: opening
Cash
N/A 2.045% 27.9%
Transactions:
• Maximum of 56 days for Purchases if you pay your balance
in full and on time.
Interest free
period:
• There is no interest free period on Cash Transactions,
Balance Transfers and Cheques.
If you pay the balance in full, any interest charge for the period from
the previous statement to the date of the full repayment will be
debited the following month.

* Interest is calculated daily.

Interest
charging
information:
Purchases: From Transaction Date Until Repaid in full*
Cash Advances: From Transaction Date Until Repaid in full*
Balance Transfers: From Date debited to your account Until Repaid
in full*
Allocation of If you do not pay the full amount owed on the Account in any month,
payments: we will apply your part payment in the following order:

• interest;
• payment protection premiums;
• fees added to your Account , other than those set out below;
• fees payable under clause 6.2 on Balance Transfers, Cash
Transactions, Credit Card Cheques and Transactions in a
foreign currency;
• Balance Transfers;
• Purchases ;
• payments by Credit Card Cheque ;
• Cash Transactions.
 Where more than one rate applies to any of the above categories of
Transaction, the Transaction with the lowest interest rate will be paid
off before your other Transactions in the same category.

For full information on allocation of payments see section 5.6 of the

Credit Card Agreement.
Each month you must pay at least the minimum payment set out in
your statement. The minimum payment will be the greater of:

Minimum • 2.25% of the balance shown in your statement (minimum £5,

payment: or the full balance if less than £5); or

• the total of payment protection premiums plus interest and

fees charged on the statement, plus £5.
Minimum Credit Limit: £250

Credit Limit

Maximum Credit Limit: Subject to status

Annual fee: No annual fee.
Charges apply as follows:

• 3% on Balance Transfers (minimum £5).

• 0% on Cash Transactions (minimum £0).
• 0% on Credit Card Cheques (minimum £0).
Charges:
• 0% of the amount of any Transaction in a foreign currency
• £5 for each copy of a statement
• £5 for each copy voucher

• £10 dormancy fee

• £12 for going over your credit limit.
• £12 if your payment is late
• £12 if your payment is returned.
• £25 if you do not inform us of a change of your details and we
have to trace you.
Default charges:

You can avoid paying additional charges by staying within your

credit limit and ensuring that payments are received on time.

Credit Cards Explained

A quick guide to your credit card

1. Balance transfers

What is a balance transfer?

A balance transfer is when you transfer an outstanding balance from your other credit
or store cards to your Santander Credit Card.

What are the benefits of transferring your current credit or store card balance?

Cost savings: You could save on interest payments by consolidating your credit and
store card balances into one.

Easier management: Consolidating all your cards into one may make managing your
interest payments and cash flow easier.

We’ll do everything for you: When you transfer your current balance to us we’ll
take care of the entire process.

Do I have to close my other store or credit cards after the balance transfer is
made?

It’s your choice. If you decide to close your other cards, you’ll need to arrange this
directly with the issuer.

2. Card security

Enjoy complete confidence when you make purchases, knowing that your new
Santander Credit Card comes with:

• The latest chip and PIN technology to help protect you from someone trying
to use your Card
• Protection against internet fraud if your Card is used online without your
knowledge
• Protection against unauthorised use so you won’t be held financially
responsible if your Card is used without your (or your additional cardholder’s)
knowledge

3. Credit card repayments

Each month you need to make the minimum monthly repayment by the due date
shown on your Credit Card statement. Repayment is not required if your balance is
zero or your account is in credit.

Your purchases won’t incur any interest so long as you pay your balance in full by the
due date each month.
Credit Cards Glossary

Term Description
A APR (Annual The APR is the amount of interest you’ll be expected to pay if
Percentage Rate) you borrow using your credit card.
Additional Card A card we issue to an additional person nominated by you.
B Balance Transfer This is a payment you ask us to make from your Santander
Credit Card account to repay or reduce an amount you owe to
another credit or store card provider
Balance Transfer
This is a charge for the balance transfer service.
Fee
C
Credit Limit Your credit limit is the most you are allowed to borrow on
your account.
Credit Reference Credit reference agencies supply information about people to
Agency financial institutions to help them make lending decisions.
They also confirm people’s addresses and help guard against
fraud.
I Interest Free If you don’t have an outstanding balance on your credit card,
Period the interest free period is the maximum time you have to pay
new balances before interest charges apply.
M Minimum This is the minimum amount you need to repay each month by
Repayment a certain date. It’s usually based on a given percentage of the
total balance.
O Outstanding Your outstanding balance is what remains on your account at
Balance any time, unless you’ve cleared the balance and made no
further transactions.
P PIN The Personal Identification Number is a private number you'll
need in order to use your card in cash machines and shops
S Statement This is a monthly bill from Santander Cards Limited which
summarises your account, including the outstanding balance,
new purchases, payments, credits, interest charges, other
finance charges and other transactions for the month.
Statement Date The date your statement is produced.
V Variable Rate An interest rate which may change from time to time.

How credit cards work

A credit card is a form of borrowing. Firms lending money to customers must be

licensed by the Office of Fair Trading (OFT) under The Consumer Credit Act 1974.
The Act requires certain credit and hire agreements to be set out in a particular way
and to contain relevant information for the person borrowing.

Credit cards allow you to 'buy goods now and pay later' - called 'buying on credit'.
They aren't linked to your bank account. Like debit cards, they can be used to buy
goods in shops over the telephone and internet, with the same details being
required. You can also get a 'cash advance' by drawing money at bank cash machines.

Your bank may offer you a credit card, or you can apply for one to any institution
offering one. The credit card provider will normally run checks to see if you've had
problems repaying debts before offering you one (called a 'credit check').

The risks of using a credit card

Think carefully before using a credit card. If you don't repay your bill in full by the
date shown you're charged interest on the whole amount of the bill for that month.
The rates of interest - indicated by the APR (annual percentage rate) - can be very
high indeed.

If you take cash out with a credit card you're charged daily interest from the moment
you take out the cash until the credit card bill is paid in full. This is an expensive way
of borrowing money.

Some credit cards also charge you an annual fee simply for having the card.

If you can't afford to repay your credit card bill you could quickly fall into debt. Find
out more about what to look out for with credit cards in our related article below.