118 Credit Card fee query

devils_vixen · 26 January 2020 at 2:12PM

Has 118 done away with the monthly fee credit card? Friend of mine has one and said she doesn't pay to use this? I was sure there was a fee but right enough couldn't find it on the website - unless its hidden in the T&C's?

Hoping one of you more knowledgeable folks will know and settle the argument

[Deleted User] · 26 January 2020 at 2:19PM

https://www.118118money.com/credit-cards/

No fees.

jimbo26 · 26 January 2020 at 2:44PM

Looks like they have changed their model.

cymruchris · 26 January 2020 at 3:09PM

If you look under their FAQ - you can see the old card is referenced for 'existing customers only' - so it appears the model has definitely changed. It's broadly in line with the likes of Capital One now on APR. Interestingly it mentions that you'll NEVER be charged interest if you pay off your statement balance in full, and has a 0 percent cash withdrawal fee. The way cash advances work on other cards, you pay interest from the day you take it out, no matter what, so I wonder if that's an error.

Gerry1 · 26 January 2020 at 3:53PM

cymruchris wrote: »

Interestingly it mentions that you'll NEVER be charged interest if you pay off your statement balance in full, and has a 0 percent cash withdrawal fee. The way cash advances work on other cards, you pay interest from the day you take it out, no matter what, so I wonder if that's an error.

I doubt it, it seems to be an attractive feature that offsets the hideous interest rates, so very handy for foreign purchases and cash advances if you always repay in full.

Barclaycard Platinum is similar in not charging interest on cash advances paid on time, but for me that's only until 31 Aug 2022 and its Visa rate probably won't be quite as good as 118's Mastercard rate.

118 Credit Card fee query

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