credit cards

The information contained in this table summarises key product features of the first direct Credit Card and is not intended to replace any Agreement Terms.

APR	Typical 17.9%APR variable

other interest rates	introductory rate	monthly rate	annual rate simple	effective
Purchases	2.9% p.a. for 6 months	1.315%	16.620%	17.9%
cash advances	n/a	1.671%	20.052%	21.9%
Balance Transfers	2.9% p.a. for 6 months	1.315%	16.620%	17.9%

interest free period	Up to 56 days for Purchases if you pay your balance in full and on time. There is no interest free period for Balance Transfers, Special Balance Transfers or Cash Advances.
interest charging information	Interest is charged from the date transactions are applied to your account until payment is received (unless the interest free period applies).
allocation of payments	Payments received are applied to pay off the minimum payment shown on your statement, then the remaining balance on your statement, then any unstatemented items. Within each of these categories we will pay off any Balance Protector premium first, then charges and interest followed by transactions in the following order: Special Balance Transfers Purchases and Balance Transfers (excluding Special Balance Transfers) Cash Advances. In each category, transactions will be paid in the order in which they were applied to your Account. Full details are set out under Other Financial Information in the credit card Agreement Terms.
minimum monthly repayment	£5 or 3% (whichever is higher) of the Standard Balance, excluding any Balance Protector premium and £5 or 3% of any Special Balance Transfer balances, or the whole balance if it is less than £5.
amount of credit	Minimum credit limit is £500, maximum credit limit subject to status.
fees	No annual fee.
charges	Cash Advances 2.5% handling fee (minimum £2.50). (Includes cash withdrawals, Internal Transfers, the purchase of travellers cheques or foreign currency and money orders but not gambling transactions). Balance Transfers 2.5% handling fee (minimum £2.50) (if applicable, see important notes below) Foreign Exchange 2.75% of the amount of non-sterling transactions.
default charges	Late payment fee £12.00. Over-limit fee £12.00. Unpaid cheques or direct debits £5.00.

Except where any interest rates are stated to be fixed, all interest rates are variable.

• a special rate of 2.900% per annum (this is the simple rate, the effective rate is 2.9%) on Purchases and Balance Transfers for six months is applicable upon making your first Balance Transfer from a competitor card, of minimum £500 and within two months of your card account being opened.

repayments

illustrative example (includes introductory rates)	for Purchases of £1,000 on your Credit Card
monthly payment	minimum payment each month	£50 payment each month	£100 payment each month
Taking into account introductory rates, how much interest will you be charged in the first year?	£82.78	£66.41	£30.43
How much interest will you be charged in the second year?	£118.45	£40.38	£0.00
How long would it take to clear the balance?	12 years, 1 month	1 year, 11 months	11 months

The above example assumes the following: the transaction takes place on 1st January and you make no further transactions; you always make the payment on the 15th; your statement is produced 31 days after you make the purchase; interest is calculated based on the typical 17.9%APR variable rate and introductory rates are included

We recommend that you pay more than the minimum payment whenever possible. If you make only the minimum payment each month, it will take you longer and cost you more to clear your balance, as shown in the example above.

repayment calculator 

important notes

The card promotional rate commences from the date of the first Balance Transfer of £500 or more made within two months of account opening. The promotional rate quoted is the simple annual rate, used for calculation purposes. No fee charged for Balance Transfers of £500 or more, completed within two months of card account opening and where it is the first Balance Transfer to the credit card company concerned. Otherwise Balance Transfers will be charged a fee. Balance Transfers from other members of the HSBC Group are not eligible for this promotional rate. At the end of the promotional period, the rate for Purchases and Balance Transfers will revert to the Standard Variable Rate then applicable.