Zempler Credit Card basics – how it works
A credit card is a convenient and flexible form of credit. It’s mostly used for everyday items, from buying business supplies and groceries to petrol or plane tickets.
We will set a limit on how much you can spend. Before you apply be sure to carefully check the summary box, as interest rates can vary a lot between credit cards and some come with annual fees.
The benefits of credit cards include:
✔️ Manageable and flexible repayments.
✔️ No interest on purchases if paid off in full by the payment due date each month.
✔️ Rewards programme and incentives like cashback.
But you should be aware, credit cards:
❌ Are not for long term borrowing.
❌ Can take a longer time to repay if you only make minimum payments.
FAQs
This is the maximum amount of credit available on your Zempler Credit Card. You can see your credit limit in your monthly statements and in the Zempler Bank app and Online Banking.
Please note, other limits and restrictions may apply. For example, a cash limit may apply to your account (refer to your Agreement for details) and there are limits on how much you can withdraw from an ATM at a time: a maximum of £50 per ATM withdrawal and £150 in a single day.
If you make at least the minimum payment on time (by the due date shown on your statement each month), and use your card in line with your credit agreement, you’ll be able to continue using your credit card up to your credit limit.
However, we’ll always have the right to decrease your credit limit. This will mainly depend on how you use your card.
We also reserve the right to close your account if you breach the terms and conditions upon notice.
You can use your Zempler Credit Card to make purchases, card payments or cash withdrawals at millions of locations worldwide. Just look for the Mastercard logo.
APR stands for Annual Percentage Rate.
This is a standardised term that describes the annual rate of interest as well as any fees you might need to pay as a borrower. Interest + Fees = APR. The higher the APR, the more expensive the loan or credit card will be.
You’ll find your APR on your Pre-Contract Credit Information and Credit Agreement.
There are two types of APR:
- Representative APR - All banks and lenders use Representative APR. When you see this term, it means that the interest rate has been given to at least 51% of customers who apply successfully. It’s a useful comparison tool.
- Personal APR - This is the actual interest rate you are offered. This could be the same as, higher or lower than the Representative APR depending on your personal circumstances.
Yes, it could improve your personal or business credit rating if you make all your repayments on time. But paying late or missing payments could hurt your rating, as we’re obliged to report negative as well as positive information to credit reference agencies.
This could make it more difficult to get credit in the future. It could also result in legal action against you to recover the debt if you don’t make your repayments on time.
You can use the Zempler Credit Card for pretty much anything. Use it for your everyday purchases, emergencies or unexpected bills. You can use it both at home in the UK, or when travelling abroad.
If you’re a business, you can use the Zempler Business Credit Card to pay suppliers or cover one-off payments that you didn’t budget for. It’s ideal for businesses that have occasional short term cash flow needs, such as start-ups or those new to credit.
Remember, different interest rates and charges are applied to different types of transactions, such as purchases and cash advances.
You can find more information about these in the Summary Box and Precontract Credit Information that you’ll need to read when you apply for a credit card and will be sent to your email if approved.