CardCosts

Further information

Disclaimer

This website is designed to help you to explore how much it costs to use a credit card. It allows you to say how much you owe on the credit card, whether you intend to use it further and how you plan to repay. It will give you an indication of how much interest you will be charged. However, card providers may use different interest calculations and they may also charge other fees, for example where a customer misses a payment, which are not captured by this website. Annual fees, which in this website are added to the card balance in a single month each year, may also be applied in different ways by different card providers. Small differences between figures shown on the results page may occur due to rounding. Where there is an introductory rate, such as on a balance transfer, you are reminded to come back to this site when this rate ends, to find out how much more your card will cost you.

This all means that our estimates of how much your card will cost you are not guaranteed to be accurate. The UK Cards Association cannot be held liable for any inaccuracies in the estimates produced. To find out more about what factors affect the cost of your credit card, please see:

For more information about how interest, fees and other charges are applied, check your statement or contact your card provider.

About this website

This website has been developed by IT Services R&D/ILRT at the University of Bristol as part of a research project with the Personal Finance Research Centre at the University of Bristol. This is the first edition of the 'CardCosts' website.

The information within this section will provide customers with useful information about credit cards in general and also sources of free independent debt advice. We are not able to respond to general queries about the website or its outputs. Your credit card provider will be able to help with any questions relating directly to your credit card account. If you have any suggestions, that may improve future releases of the website, please contact us.

Debt advice

If you are worried about money issues, you should contact your credit card provider at the earliest opportunity to discuss this. Alternatively, you may wish to contact the following organisations for free, independent and confidential advice:

AdviceUK
www.adviceuk.org.uk
0300 777 0107
StepChange Debt Charity
www.stepchange.org
0800 138 1111
Citizens Advice (England & Wales)
www.citizensadvice.org.uk
England: 08444 111 444
Wales: 08444 772020
Money Advice Scotland
www.moneyadvicescotland.org.uk
0141 572 0237
Citizens Advice (Scotland)
http://www.cas.org.uk
0131 550 1000
National Debtline
www.nationaldebtline.co.uk
0808 808 4000
Citizens Advice (Northern Ireland)
www.citizensadvice.co.uk

General information about credit cards

For general information and advice about credit cards, please also see:

UK Cards Association
www.theukcardsassociation.org.uk/individual/right_card.asp
Money Advice Service
www.moneyadviceservice.org.uk

Monthly statements

Your card provider will either send you a monthly statement by post, or you will be able to view your statement online (if you have registered to do this).

The information that you'll need to get the most out of this website is shown in a 'summary box' that looks like this example, or it will be shown on the front of your statement. For more information about monthly statements, please see:

Clearing your balance

When calculating the cost of your credit card, this website assumes that you want to clear the balance on your credit card. If your repayment amount is not enough to cover the interest charged plus some of your starting balance, or if your ongoing spending is too high, your balance will go up rather than reduce. In this situation, the calculator will not run. To find out how much it will cost to clear the balance on your card, you may need to increase how much you repay or reduce your ongoing spending.

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