There are many credit cards out there that offer a variety of appealing benefits and features. However, many of them come with high-interest rates. If you are looking for a credit card with a guaranteed low and fixed interest rate, the Co-operative Bank 3 Year Fixed Rate Credit Card may be a great option for you.
The Co-operative Bank 3 Year Fixed Rate Credit Card offers a 6.9% interest rate for three consecutive years from the time of activating the card. It is one of the most economical cards for people who shop frequently and need a reliable card to use for payment.
If you are interested in this card, keep reading below. In this article, we will discuss, more details about this credit card and how you might be eligible to apply for one today.
Major Highlights of the Co-operative Bank 3 Year Fixed Rate Credit Card
The Co-operative Bank 3 Year Fixed Rate Credit Card sets the standard when it comes to low-interest rates on purchases. However, that is not all it has to offer as it allows cardholders to save on traditional credit card fees as well. In this article, we are going to closely look at the other benefits and perks that come with this card.
The best asset of this card is the three-year fixed rate of 6.9% for purchases and balance transfers. Imagine how much you can save if you take advantage of this feature. Note that the rate only applies if you pay your balances in full and on time. To avoid getting charged with any interest, it’s best to settle the bill within an interest-free period of 25 days.
The fun doesn’t end there, because this card also offers no balance transfer fee, making it incredibly easy to clear off balances from another card. In addition, there is no annual fee charged for using this card. Without these fees, cardholders can save their money for better purposes!
Another reason to love the Co-operative Bank 3 Year Fixed Rate Credit Card is the ease of use with contactless payment. Powered by Visa, cardholders can simply tap the card to pay for products and services. In addition, the Visa platform also makes banking rewarding because of its wealth of promotions and retail discounts.
Cardholders also have ease of access by being able to make payments with Apple Pay, Google Pay, and Samsung Pay alike. Further, they can quickly access their accounts through online banking. In all, the savings and convenience of this credit card are equally impressive.
Other Important Details to Note
Though this card offers incredible promotional rates from purchases and balance transfers, it is important to note that other charges still apply. For cash withdrawals, this card charges an interest rate of 27.9% per year. In addition, cardholders should note that after the three-year fixed low-interest rate, the interest rate will revert to 18.3% (variable). However, despite being nearly three times the introductory rate, 18.3% is still a moderate interest rate within the credit card market.
Fees & Charges at a Glance
- No annual fee
- No balance transfer fee
- APR: 18.3% APR representative (variable). Based on an assumed credit limit of £1200 and a purchase rate of 18.3% per annum (variable).
- Cash withdrawals: 27.9% interest per annum.
- Cash fee: 3% of the value (minimum of £3)
- Late payment fee: £10
- Over limit fee: £10
- Non-sterling transaction fee: 2.75% of the transaction
Would You Like to Apply for This Card?
Applying for this credit card is made easy with the online application. Interested parties can also visit one of The Co-operative Bank’s branches all over the UK. To qualify as a cardholder, one must be at least 18 years old, a UK resident, employed, and earning at least £10,000 annually. Note that to apply for this card, you must have an existing Co-operative Bank account for at least seven months.
Applicants cannot have had any CCJs or entered into any IVAs, Trust Deeds, or bankruptcies within the last 6 years if they wish to be eligible. And, you must have a good credit reputation, including not having missed more than 2 payments on any credit agreement in the last half-year.
If you are interested in applying for a Co-operative Bank 3 Year Fixed Rate Credit Card, head to The Co-operative Bank website and click on the Apply Now button. The bank will also ask for personal and employment information. Particularly applicants will need to provide their addresses, contact information, and annual income.
If successful in your application, you’ll be assigned a credit limit. The limit for this card is between £500 to £1,200 or higher, depending on your financial capacity to pay your balances back.
The Co-operative Bank’s Address & Contact Details
Address: P.O. Box 101, 1 Balloon Street, Manchester M60 4EP
To get in touch with The Co-operative Bank, call +44(0)3457 212 212.
The Co-operative Bank 3 Year Fixed Rate Credit Card is a valuable card. With the low and fixed interest rate for purchases and balance transfers, cardholders can save more when settling credit card balances from another card. Visit the website of The Co-operative Bank for more details.
Are you curious to see how this card compares to other low rate offers? Check out another option and then decide which one is best for you!
Note: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions page for more information.