Managing credit card fees and charges

On your statement the transaction will be shown in the local currency and the rate of exchange (this is set by Mastercard/VISA). It will also outline the standard fee that is charged.

We do have 2 credit cards where the foreign transaction fee isn’t charged. These are the Royal Bank Credit Card and Reward Black credit card. If you use your credit card abroad a lot then you might want to consider looking at one of these credit cards.

For more information on how much it will cost to use your card abroad (along with a comparison to using your debit card) then please visit our Card Currency Calculator.

This fee applies to whenever you use your credit card on a transaction that means you receive cash or a cash equivalent, for example getting credit on a mobile, to pay off other debt or purchasing gambling chips.

The standard charge for these types of transactions is 3% with a minimum amount of £3 for cash from an ATM or gambling transactions. The fee will appear as ‘Cash Fee’ on your statement.

Cash Advances are also treated differently to purchases with interest being charged from the date you make the withdrawal and it will incur a different interest rate. The different interest rates can be found on your statement.

If you take out an Instalment Plan, the Instalment lending fee is the name of the monthly payments you make to pay it off.

This will be in line with the agreed terms when you set up the Instalment Plan. Please visit our Instalment Plans pages for more information.

If you need a duplicate paper statement for your credit card you will be charged £3.

Did you know that if you manage your credit card through Digital Banking or our Mobile App you can view your transactions whenever you choose. It is also possible to print off your own paper statement using Digital Banking to avoid the duplicate statement fee.

An annual fee is a one off annual charge for holding the credit card regardless of if the card is used or not in the previous year.

You are charged an annual fee of £24 for the Reward credit card and £84 for the Reward Black credit card. This fee is refunded if you have a Reward current account. Several of our cards have no annual fee. You might want to consider moving to one of these if you don’t benefit from the credit card you currently have.

Interest is charged monthly on the outstanding balance of your credit card and is variable depending on which type of credit card you hold.

Different types of transactions (purchases or cash) incur different interest rates. Your credit card statement will confirm what interest rate applies.

If no promotional rates apply, interest will be charged on purchases after the payment date on the statement the transaction appears. This means you can get up to 56 days interest free.

Cash advances will incur interest from the point at which you take it out. This should be considered when taking cash out on your credit card.