Are you drowning in credit card debt and high interest rates on your other cards? Credit card debt bolstered by unaffordable interest rates can put you under if you don’t take drastic action by reorganizing your debt.
One way to reorganize debt and free yourself up to focus on repayments is by getting the Everyday No Balance Transfer Fee credit card. It’s a Santander Mastercard credit card that offers you an opportunity to transfer balances from your debt-laden cards for free.
To take charge of your finances with this Santander credit card, you’ll need to know how it works, the terms and conditions associated with the card, and how to apply for it. In this article, we’ll discuss all of that and more.
About the Everyday No Balance Transfer Fee Credit Card
The Everyday No Balance Transfer Fee card from Santander UK is a credit card that helps you reorganize debt from other cards with the no-balance-transfer-fee introductory offer. With this card, you can carry out balance transfers for free for 12 months!
The Everyday card focuses on functionality and doesn’t come with other ‘fun’ benefits, such as travel concierge services. Instead, it keeps costs low by removing the monthly fees and balance transfer charges, giving you breathing room to focus on repaying your debt.
If you’re in the market for a credit card that gives you rewards for traveling or spending on large purchases, then this card isn’t for you. But if you’re looking for a card that helps you manage debt, keep reading.
Why Santander UK?
Santander UK is a commercial and retail bank in the United Kingdom that offers financial services to private individuals and businesses. They’re a wholly-owned subsidiary of Santander Group.
Aside from helping you manage your finances and providing credit facilities, Santander donates to Red Cross and UNHCR (The United Nations Commission on Human Rights) and provides green finance. All while supporting over 14 million active customers.
Features of the Everday No Balance Transfer Fee Credit Card
With the Everday No Balance Transfer Fee credit card, you automatically receive a 0% interest introductory offer for balance transfers within the first 12 months of your account opening. This means you won’t pay any balance transfer fees for those 12 months.
Aside from the “no balance transfer fee” introductory offer, you’ll receive a three-month 0% interest introductory offer for purchases. The duration for both offers starts counting down from when the account is opened, whether or not you make a purchase or transfer balances.
Furthermore, you also get up to three additional cardholders of your choice. However, remember that you’ll be responsible for the use and payments on those cards.
Although the card isn’t big on rewards and cashback, you can earn up to 15% cash back through Santander Boosts. Unfortunately, additional cardholders are ineligible for this cashback offer. There may, however, be other ways for them to earn rewards from purchases.
Getting Cashback Reward From Santander Boosts
Unlike reward-focused credit cards, the Everyday credit card doesn’t offer tailored cashback offers. Instead, retailer offers are only an add-on service. You’ll need to activate Santander Boosts from your mobile app or online banking platform manually.
Once it’s on, you’ll receive offers for various retailers such as The Body Shop or Tesco. You’ll earn varying cashback percentages that can reach up to 15%. These earnings are then credited to the Santander account of your choice.
How Do You Apply for the Everyday Card Online?
There are two easy ways to apply for a Santander Everyday No Balance Transfer Fee credit card. The first and most efficient method is applying online, and the second is visiting a local Santander UK branch.
Before pursuing either method, use the eligibility checker to confirm your eligibility for the card. It is free and doesn’t affect your credit score. Plus, it saves you the time spent applying only to find that you don’t qualify.
If you pass the eligibility check, proceed to the application page and fill in your information. You’ll need information about your employment status, annual income and financial situation, UK residential address, etc. Ensure all the information you provide is accurate, as the bank will run checks on your application.
Also read: Discover How to Order a Suits Me Card
How Do You Apply for Balance Transfers on Your Everyday Credit Card?
The Everyday No Balance Transfer Fee card primarily functions as a balance transfer card, and applying for transfers is relatively easy. You can either apply online or call customer care at 0330 9 123 123.
An online application will require you to sign on to the online banking platform and tap the Credit Cards tab. Next, select the left-hand side menu and tap Balance Transfers. Then fill in the amount you want to transfer and your card details, tap Continue, and confirm your application details.
Fees and Interest
This card offers enticing introductory deals, but there are still fees you need to be aware of. For example, while you don’t need to pay balance transfer interest initially, there is interest after the 21-month introductory period.
Below is a summary of some of the fees and interest rates you’ll have to pay.
- Purchases – 0% for three months from account opening, then 22.9% after the introductory period
- Cash transactions – 29.9%
- Balance transfers – 0% for 21 months introductory period from account opening, then 22.9%
- Balance transfer charges after the introductory period – 3% (minimum £5)
- Cash transactions – 3% (minimum £5)
- Foreign transactions (cash withdrawals and purchases) – 2.95%
- Over limit fee – £12
- Late payment fee – £12
- Returned payment fee – £12
- Trace fee – £25 (if you do not inform the bank of a change of address and they have to trace you)
Eligibility Criteria for a Santander Everyday Credit Card
A successful Everyday credit card applicant must be 18 years and above and have government-issued documentation to prove it. They must also be a permanent resident of the United Kingdom.
Regarding your income, you must have an annual income of at least £7,500. You must also have a good credit record and not have had a CCJ (county court judgment) or IVA (individual voluntary agreement) or been declared bankrupt within the last six years.
The bank will conduct a credit check to ascertain your financial standing. They will then make you an offer based on the credit check results.
Benefits of the Everyday Credit Card
Considering the minimal features, you’ll realize that the Everyday credit card is affordable to the general population. This is reflected in the fees and interest rates too. One such fee is the monthly card fee they don’t charge.
Credit cards can charge anywhere from $10 to $400 for annual or monthly card fees. The absence of this fee on the Everyday card reduces how much you have to spend overall. However, it does make sense because there aren’t a lot of fancy benefits for this card.
Upon a successful application, the bank sets your account to paper-free, where they only send your statements, change of account terms, arrears notices, and any other important information to your e-Documents section of your online banking software.
Con: It’s a Practical Card
Yes, the card allows you to transfer balances to the card at no cost, but that’s all you get from it. Except for the promotional and retailer offers, there aren’t automatic rewards or travel points to give you an extra benefit. It primarily only serves for balance transfers.
If you need a card with rewards, points, or miles, you’ll need to apply for a different card. But this can create the burden of having too many credit cards and increase your chances of hurting your credit score.
Address and Contact
Whenever you need support with your credit card, there are three easy ways to reach out to Santander. You could call by phone, chat on their website or visit a branch.
To consult via phone call, call 0330 9 123 123 from 8 am to 6 pm any day of the week. For a chat with a digital assistant, visit the Santander main website and tap on the red Chat With Us on the right side of the page.
If you prefer face-to-face interaction, check out a local branch near you using the branch locator feature on the website or visit their headquarters at 2 Triton Square, Regent’s Place, London, United Kingdom. Once you’re at a branch, you’ll be able to talk to a customer service representative in person and get the help you need.
Other Ways to Get Help
Aside from contacting the bank directly, most account and credit card issues are quickly resolved by reading the related support page and following the instructions. Visit the support Page and navigate to any topic of your choice.
For the Everyday card, you’ll find credit card and PIN-related information on the Credit Card Support page. On this page, you’ll find information on various credit card topics, including how to activate your new card and dispute credit card transactions.
Santander’s Everyday No Balance Transfer Fee credit card is a valuable tool for helping you restructure your credit card debt within a reasonable time. Without paying additional fees, you can free yourself to focus on repaying only the debt you’ve accrued.
Note: Consider the risks involved in using credit products before applying by consulting the issuing institution’s terms and conditions.