House of Fraser Credit Card

If you are looking at the House of Fraser credit card then there are certain things to consider. You should consider the interest rates and fees and you should consider the rewards you can receive when you use the card.

The interest on all credit cards is pretty steep. You might find that the House of Fraser credit card is actually much better than many other credit cards but the rates are still high. The introductory rate for new members is 0% interest for the first three months. This does not apply to cash withdrawals. However, if you do a balance transfer then you can take advantage of a 9% interest for the first 9 months. The 0% interest most likely has a minimum purchase amount that is rather high like most cards. The monthly interest rate is 1.5% on purchases, 2.104% on cash withdrawals, and 1.524% on balance transfers. There is one type of annual interest rate applied called the simple interest rate. This is 18.287% for purchases made with the card, 25.249% for cash withdrawals, and 18.287% for balance transfers.
 
When your balance is paid in full you don’t have to pay interest. All credit cards tell you this. Of course there is no interest because you don’t owe anything. This is not a benefit but most credit cards make it look like one.

Payments on the House of Fraser credit card are applied in a specific way. They are first applied to any insurance premiums on your card. These insurance premiums may be high and they may be required. If they are not required then you should waive them. The interest will then be paid, then charges or fees. Retail purchases and balance transfers will then be paid on. Cash transactions are last and then buy now and pay later transactions. The reason that the cash transactions are paid last on your bill are because the credit card gets the highest interest on this amount so they want this bill to remain outstanding for as long as possible so they can charge you the most money. All credit card companies will do this.

You can get reward points when you have a House of Fraser credit card. For every L1 you spend in the House of Fraser with your House of Fraser card then you will get 3 points. For every L1 you spend at other venues not the House of Fraser with your House of Fraser card then you will receive 1 point. After you have earned 1500 points then you will receive a L15 voucher. This means that every L500 you spend in the House of Fraser will earn you a L15 gift voucher.

The House of Fraser credit card is very similar to most credit card companies. It is a valuable card to have when you don’t have any cash on you and you are capable of paying your bill entirely in full when you receive it. If you make payments then you will pay high interest rates and other fees. There are reward programs you can take advantage of too.