Bank of Scotland Student Credit Card
Credit available subject to status, to UK residents aged 18 or over.
If you're a student, you'll probably be living on a tight budget. Our Student Credit Card gives you a bit extra spending power when you might need it and is designed to help you stay in control.
Bank of Scotland Student Credit Card benefits include:
- Credit limits up to £1,000 (subject to status)
- Weekly balance updates and payment alerts sent via text
- Manage your card using Internet and Mobile Banking services.
|If you borrow
|With a purchase rate of
19.95% p.a. variable
|Then you will get a representative
19.9% APR variable
|This example is for illustrative purposes and serves as a guide only. Your actual credit limit will vary based on your individual circumstances and may differ from the example shown.|
It takes just a few minutes to apply.
About your card
Here are some of the extra benefits you get with your Bank of Scotland Student Credit Card
- Cover against online fraud and your transactions are protected by Bank of Scotland Secure when you shop online with participating retailers.
- Manage your card online using Internet Banking and Mobile Banking.
- Make Faster Payments to your card within a matter of hours, giving you more flexibility and control over your finances.
- Accepted wherever you see the MasterCard sign at over 33 million locations worldwide.
What does APR mean?
Annual Percentage Rate (APR) tells you how much your borrowing will cost over an average year. It takes into account interest charged as well as any additional fees you'll have to pay (such as any annual fees). This figure is given to allow you to make an easy and fair comparison between different credit cards.
This offer is exclusively available online only and it takes just minutes to apply.
It’s always good to know the exact details so here is a clear summary of all the key credit card features. The information contained in this table summarises key product features and is not intended to replace any terms and conditions.
|SUMMARY BOX - Bank of Scotland Student Credit Card|
Representative 19.9% APR (variable)
|Introductory rate||Monthly rate||Annual rate|
|Cash Withdrawals||Not applicable.||1.527%||19.95%|
|Balance Transfers||Not applicable.||1.527%||19.95%|
|We may apply the standard interest rate during any special promotion period to any transaction if in any month you do not make at least your minimum payment by the minimum payment date or if you exceed your credit limit at any time.|
|You will not pay interest on new purchases if you pay the full balance shown on your previous and current statement on time. Otherwise, the period over which interest is charged is as follows:|
|Purchases||date debited to your account||paid in full|
|Cash Withdrawals||date debited to your account||paid in full|
|Balance Transfers||date debited to your account||paid in full|
|Allocation of payments||If you don't pay your balance in full we will allocate payments to balances with the highest interest rate before balances with lower interest rates. See section 6.1 of the terms and conditions for full details|
|Minimum repayment||An amount equal to the total of interest, default charges and 1% of the balance shown in your statement (minimum £5, or the full balance if less than £5).|
|Credit limit||Minimum credit limit||Subject to status.|
|Maximum credit limit||£1000. Your cash limit is 50% of your actual limit.|
|Fees||No annual fee.|
|Charges||Cash withdrawals||3% or minimum £3.|
|Balance Transfers||3% for each individual Balance Transfer.|
|Copy statements||£6 for copies of non-current statements.|
|Copies of transactions||£5 for each copy of a record of a transaction.|
|Foreign Usage||Payment scheme exchange rate||Indicative rates can be found at MasterCard Currency Conversion Tool.|
|One or more of the following may apply:|
Non-Sterling Transaction fee
|2.95% of the amount of the sterling transaction value.|
|3% minimum £3|
|Default charges||Late Payment charge||£12|
|Returned Payment charge||£12|
Cost of Borrowing
Credit cards are designed to be a flexible form of borrowing. Paying the minimum amount every so often can help you manage your money more effectively, although we would not recommend that you make minimum payments for a long period of time once your promotional offers have ended. Once your account is open, you can set up a Direct Debit for any fixed amount over the minimum payment by calling 0345 729 3949. Lines are open 24 hours a day, 7 days a week.
For longer term borrowing it may be more appropriate to choose a loan from us. If you would like to find out more about this you can call Bank of Scotland Personal Loans on 0845 600 4611, or visit www.bankofscotland.co.uk/loans or call into a Bank of Scotland branch, where our staff will be happy to help.
The following example highlights the difference between only paying the minimum and paying a fixed amount. The example assumes the following:
- The transaction takes place on the 1st of the month and you make no further transactions.
- Your statement is produced on the 1st of each month.
- You always make payment on the 15th of each month.
- The calculation does not include any introductory rate on purchases.
|Illustrative example for a £1,000 purchase based on 19.9% APR
|Monthly Payment||If you pay the minimum payment each month||If you pay £50 each month|
|How much interest will you be charged in the 1st year?||£175.30||£150.87|
|How much interest will you be charged in the 2nd year?||£155.17||£61.71|
|How long would it take to clear the balance?||18 years 5 months||2 years 2 months|
Bank of Scotland is a responsible lender and we only want you to borrow what you can afford and in a way that is best for you. If you’d like to talk to us about the choices you’ve made or would like advice, we will be happy to refer you to a member of staff who will be able to help you. They will also be able to help you if you’re experiencing financial difficulties.
Bank of Scotland Credit Cards are issued by Bank of Scotland plc, Registered in Scotland No.SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
We subscribe to The Lending Code.