Low Rate


Please remember that:

  • This decision is only valid during this session. If you want to apply later, you should fill out the Eligibility Checker again before applying
  • You must enter exactly the same details in your application
  • If you have applied in the last 30 days, you will not be able to submit another application for a Bank of Scotland credit card
  • You can’t have more than two credit cards with Bank of Scotland, or more than five in total with Lloyds Banking Group
  • You may still need to verify your identity.

Important information about our credit cards:

  • You must be aged 18 or over and a UK resident to apply for a Bank of Scotland credit card.
  • If successful, you’ll get a credit limit and any applicable promotional rates based on your current status.
  • To keep any applicable promotional rates, you must pay at least the minimum monthly payment on time and stay within your credit limit.
  • You can transfer balances to us from most credit and some store cards (cards must display a Visa, Mastercard® or Amex logo), excluding Bank of Scotland cards.
  • The minimum balance transfer amount is £100.
  • Low representative rate of 6.4% APR (variable).
  • One simple rate for both balance transfers and purchases
  • 0% fee on balance transfers within the first 90 days.
    - 3% fee applies on each balance transfer made after the first 90 days.
Representative example [?]
6.4% APR
Purchase rate
6.45% p.a.
Based on borrowing
over 12 months
This example is for illustrative purposes and serves as a guide only. Your actual credit limit and rate will vary based on your individual circumstances and may differ from the example shown.

We should be able to give you a decision within 5 minutes

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Image of a Credit Card

Already have a Bank of Scotland Credit Card?

You may be eligible for a second credit card with us. Excludes customers holding or applying for a Classic or Student Card. Conditions apply.

Find out more

About your card

Here are some of the extra benefits you get with your Bank of Scotland 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 the Mobile Banking app.
  • 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 is a representative example?

The representative example is an illustration of the rate that the majority of customers will get. If a credit card is described as having a particular representative APR, then at least 51% of the applicants accepted will get that rate. Other customers may get a different rate based on their individual circumstances.

We use an example borrowing amount of £1,200 to calculate our representative example but in reality this figure could be different. This figure is not the credit limit you will be receiving and is for illustrative purposes only.

The purchase rate is the rate of interest you'll be charged on purchases made with your credit card after any introductory offer has ended. A variable rate means that your interest rate may change over time.

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.

What APR will I get?
You'll get a representative rate of 6.4% APR (variable).

We should be able to give you a decision within 5 minutes.

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Summary box

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 Low Rate CREDIT CARD
APR Representative 6.4% APR (variable)
Interest rates Introductory promotional rates Standard monthly rate (variable) simple % Standard annual effective rate (variable) %
Purchases Not available 0.522% 6.45%
Cash transactions Not available 0.522% 6.45%
Balance transfers and money transfers (if available) Balance transfers: Not applicable
Money transfers: Not available
0.522% 6.45%
Default charges - the simple annual interest rate is 6.264%
We will charge you £12 if you do not make at least your minimum payment to us by the payment due date requested on your statement. You will lose your promotional offers if this happens and the standard interest rates for the applicable transactions will apply.
Interest-free period
  • Maximum 56 days for purchases if you pay your balance in full (including any balance transfers and money transfers) by the payment due date and you also paid your previous month's balance in full by the due date.
  • No interest-free period cash transactions.
  • There is no interest free period for balance transfers or money transfers (if available) where these are outside promotional offers.
Interest charging information We calculate interest daily for all transactions (purchases, cash transactions, balance transfers and money transfers) based on the total amount you owe. We add together all the daily interest amounts in each statement period and add the total to your balance on your statement date. There are three exceptions to this rule:
  • Annual fees: We do not charge interest on annual fees (see below for details of whether your card has an annual fee).
  • Purchases: We do not charge interest on purchases during the interest free period, as detailed above.
  • Default charges: We do not charge interest on default charges for the first 28 days after the day we give you notice (usually in your statement) that these charges are payable. After that we charge simple interest, so we will not charge interest on interest.
Allocation of payments We use your payments to pay off balances charged at the highest interest rate first and so on down to balances with the lowest interest rates. This means the more expensive balances are always paid off first.
If there is more than one type of balance at the same interest rate, they are paid off in the following order: cash transactions, purchases, balance transfers and money transfers, and then default charges (plus any interest or charges incurred as a result of those balances). For each type of balance, your payments will pay off the oldest balance (and related fees, charges or insurance) first.
Minimum payment 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). The different ways you can repay are included on the back of your statement and in your credit card agreement.
Credit limit Minimum credit limit Subject to status
Maximum credit limit Subject to status
Your credit limit is the total amount you can borrow under the credit card agreement. We tell you what it is in writing soon after entering in to this agreement. Please see your credit card agreement for any limitations that apply to certain transactions.
Annual fee No annual fee
Fees Cash transactions (any currency) 3% or minimum £3
Introductory balance transfer fee 0% of the amount of each balance transfer you make within the first 90 days of opening your account.
Non-introductory balance transfers  and money transfers fee (if available) 3% of transfer (min £3).
Statement copy fee £5 for copies of non-current statements.
Non-sterling transactions (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.
Cash transaction fee 3% or minimum £3
Default charges Late Payment charge £12
Returned Payment charge £12
Overlimit 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 0345 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;

For a purchase of £1,000 on your Bank of Scotland Low Rate Credit Card.

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 first year? £59.70 £48.40
How much interest will you be charged in the second year? £52.93 £13.37
How long would it take to clear the balance? 16 years 1 month 1 year 11 months

The example assumes the following:

  • Any promotional offers are excluded.
  • The transaction takes place on 1st January and you make no further transactions.
  • You always make the payment each month on the 15th.
  • Your statement is produced on the 1st of each month.

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 you would like further information, please contact us. We will also be able to help you if you’re experiencing financial difficulties.

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