Our Representative APR is the rate we offer most of our customers. So, if you see a Representative APR of 19.4%, then usually that’s the rate at least 51% of our customers are expected to get.
To make it easier, Representative APR Examples are usually set to a standard formula and based on set assumptions. For example:
1. A credit limit of £1,200.
2. Spending the full £1,200 on day 1.
3. Paying it back in equal, regular instalments over the year.
4. With no other spending.
This is useful as it helps you to compare different lenders' offers so you can choose the right credit card for you.
Remember: Representative APR is a guide rate based on what we expect most of our customers to get, it’s not a guaranteed rate. Your APR could be higher or lower, depending on your personal circumstances and which of our credit card products you are eligible for.