Explanations and Clarifications
Typical APR:
This is the rate most people are offered.
Purchase Rate:
This is the interest rate charged on balances resulting from purchases.
Introductory Purchase Rate:
This is the rate or special offer for purchases during the introductory period.
Balance Transfer Rate:
This is the rate or special offer for balances transferred from an existing credit card/s. Some special offers may require you to transfer the balance within a set time period to qualify for the special rate.
Balance Transfer Fee:
When transferring a balance from another credit card or cards you may be charged a handling fee for doing so.
Cash Withdrawal Rate:
This is the rate you are charged on balances resulting from cash transactions.
Cash transactions can include withdrawing cash from an ATM machine, getting 'cash back' at the supermarket, buying foreign currency or traveller's cheques and gambling transactions.
Cash Withdrawal Fee:
When you use your credit card to withdraw cash or make a cash transaction you will be charged a 'handling fee' for doing so.
Cheque Rate:
This is the rate you are charged on balances resulting from using credit card cheques.
Cheque Fee:
When you use credit card cheques you will be charged a 'handling fee' for doing so.
Annual Fee:
This an 'account management' fee charged yearly for holding the account.
Foreign Transaction Fee:
Also known as a 'foreign loading fee', this fee is charged when you use your credit card to make a transaction abroad, or over the Internet, in a foreign currency. This fee will be charged on transactions including paying for goods and services (purchases) and cash withdrawals, buying foreign currency or traveller's cheques (cash transactions).
Online Account Management:
If offered, you will be able to manage your credit card account online, usually via the card issuer's website.
Purchase Protection:
This is an insurance policy that covers goods bought with the card for a set period from the purchase date. Depending upon the specific policy, purchased goods can be covered against theft, loss and accidental damage. Please note that if offered; each policy may vary and exclusions, terms and conditions may apply.
Purchase Guard Insurance:
Please see 'Purchase Protection'.
Purchase Delivery Protection:
This is an insurance policy that covers goods bought with the card until they are delivered safely and undamaged to your home. Please note that if offered; each policy may vary and exclusions, terms and conditions may apply.
Internet Delivery Insurance:
This is an insurance policy that covers goods bought online with the card until they are delivered at your nominated home address. Please note that if offered; each policy may vary and exclusions, terms and conditions may apply.
Extended Warranties:
Extended warranties may be available on certain goods bought with the card. An extended warranty is a second year warranty, added to the manufacturer's standard one year warranty. Please note that if offered; exclusions, terms and conditions may apply.
Refund Protection:
This is an insurance policy that covers goods bought with the card in the event that you return an unused eligible item to the retailer, and the retailer refuses a refund. Please note that if offered; exclusions, terms and conditions may apply.
Price Promise:
This is an insurance policy that covers certain goods bought, and then found cheaper elsewhere. The different can be claimed back. Please note that if offered; exclusions, terms and condtions may apply.
Price Match:
Please see 'Price Promise'.
Fraud Guarantee:
As long as you follow precautions, you won't be held liable for any unauthorised use of this card.
Safe Shopping Promise:
Please see 'Fraud Guarantee'.
Internet Fraud Guarantee:
When you use this card online you will not be held responsible for any unauthorised charges.
Online Fraud Guarantee:
Please see 'Internet Fraud Guarantee'.
Internet Shopping Guarantee:
Please see 'Internet Fraud Guarantee'.
Online Fraud Protection:
Please see 'Internet Fraud Guarantee'.
Fraud Monitoring:
A fraud monitoring service will notify you if any suspicious activity is seen on your account.
Fraud Protection:
Please see 'Fraud Monitoring'.
Travel Insurance:
This is a full travel insurance policy. Please note that if offered; each policy may vary and exclusions, terms and conditions may apply.
Travel Accident Insurance:
Travel accident insurance covers you against serious injury and death when you buy your travel tickets with this card. Please note that if offered; terms and conditions will apply.
Please note that this is NOT the same as travel insurance and should not be considered a substitute for a comprehensive travel insurance policy.
Travel Inconvenience Insurance:
Travel Inconvenience Insurance covers you in the case of inconvenience whilst travelling when you have purchased your trip with the card. Policies can include flight delay, cancellation and denied boarding, and lost or seriously delayed luggage. Please note that if offered; each policy may vary and exclusions, terms and conditions may apply.
Travel Inconvenience Benefit:
Please see 'Travel Inconvenience Insurance'.
Lost Luggage Insurance:
Lost Luggage Insurance covers you in the case that your luggage is lost or seriously delayed whilst travelling when you have purchased your trip with the card. Please note that if offered; exclusions, terms and conditions may apply.
Travel Assistance:
Travel assistance can provide emergency medical and legal help whilst abroad.
Emergency Assistance Abroad:
Please see 'Travel Assistance'.
Worldwide Assistance:
Please see 'Travel Assistance'.
Travel Helpline:
This is a helpline that can provide emergency medical and legal help whilst abroad.
Natwest Secure:
NatWest Secure is a service for Natwest credit card holders that provides added protection to internet purchases by allowing you to use a password to authenticate payments. This ensures that only the genuine cardholder is making the purchase, giving greater peace of mind.
RBS Secure:
RBS Secure is a service for RBS credit card holders that provides added protection to internet purchases by allowing you to use a password to authenticate payments. This ensures that only the genuine cardholder is making the purchase, giving greater peace of mind.
Global Assist ®:
This complementary service is designed to extend the convenience of worldwide American Express Travel Related Services into the important area of referral to medical, legal and travel services.
Global Assist is available to you anytime you need it when you are travelling abroad.
If you require immediate referral to medical, travel or legal services on your travels abroad, simply call Global Assist on its collect number 24 hours a day, 365 days a year.
Global Assist covers not only you, but also every member of your immediate family (i.e. your legally married spouse and all dependent family members under the age of 23) travelling with you.
Emergency Card Replacement:
If your card is lost or stolen the card issuer will try and get you an emergency replacement card. This service is available abroad and in the U.K. depending upon the card provider.
Credit Limit:
This is the amount of credit you will be able to borrow on the card. Credit limits will vary from person to person and are subject to status.
Interest Free Period:
This is the amount of time you have to clear your balance in full each month before you are charged any interest.
Spending Limit:
(For charge cards only) - This is the maximum limit of your monthly expenditure for the card.
Free Credit Period:
(For charge cards only) - This is the maximum number of days before you will be required to repay a purchase.
Minimum Monthly Payment:
This is the minimum amount you must pay each month on your credit card, unless your balance is zero, usually quoted as a percentage of your statement balance.
It is recommended to repay more than the minimum monthly payment.
Allocation of Payments:
When you make a payment to this card they will be applied to charges / balances in this order.
Credit card companies often use this as a method of extracting large interest fees from unsuspecting cardholders who assume that all items making up the balance are equal. Often, they are not.
Default Charges:
This is how much you will be charged for late payments, returned payments or if you go over your credit limit.
Recently, these charges have been ruled to be unfair and many cardholders have been successful in challenging the charges.
Many default charges have subsequently been reduced. However, we thoroughly recommend that you don't get yourself into a situation where you will be penalised with these charges in the first place.
Copy of Statement Fee:
This is the fee you will be charged for copies of any non-current statements.
Needed Income:
This is the minimum needed salary to qualify for this card.
Payment Company:
This is the company that provides the payment technology and infrastructure to allow you to use this credit card.
Card Type:
This is the type of credit card, usually either classic, gold or platinum.
Prestige cards like gold or platinum cards may offer extended cardholder benefits.
Card Issuer:
This is the bank behind your credit card.
Card Advertiser:
This is the company who advertises and promotes this credit card.