ICE Visa Credit Card |
Classic Credit Card |
|||
| Existing percentage / charge | New percentage / charge | Existing percentage / charge | New percentage / charge | |
| Purchase Interest Rate | 14.01% | 15.00% | 18.8% | No change |
| Purchase Interest Rate APR | 17.3% APR | 18.4% APR | 23.0% APR | No change |
|
Cash Advance - Annual Interest Rate |
18.96% | 20.96% | 18.96% | 20.96% |
|
Minimum Repayment Due as a percentage of bill |
5% | 2.50% | 5% | 2.50% |
|
Minimum Repayment Due if greater than minimum percentage of bill |
€6.00 | €5.00 | €6.00 | €5.00 |
APR is Annual Percentage Rate
For ICE Visa Credit Cards and Classic Visa Credit Cards, the date from which interest is charged will change as follows:
| Change | New wording in conditions |
|
New Cash Advance definition in 1. Definitions – CASH ADVANCE |
Cash Advance: means the use of the Card for the purposes of obtaining cash or cash substitute (including for the purchase of quasi cash, i.e. the purchase of tokens or chips for the purpose of gaming or placing bets on the internet or otherwise) or other benefits through use of the Card, the Card number and where appropriate, in conjunction with the PIN for debit or credit to the Account pursuant to the Agreement. |
|
Amendment to Condition 9 ACCOUNT, Sub condition 9 (c) |
The Principal Cardholder will pay not less than the minimum amount shown as due to us within 25 days of the date of a Statement. The minimum amount shall be the greater of €5.00 or 2.5% of the amount outstanding, unless otherwise stated, or the whole amount if less than €5.00. |
|
Amendment to Condition 16 INTEREST AND CHARGES - INTEREST, Sub condition 16 (a) |
Interest will, where applicable, be charged on a daily basis from the date of the Transaction or in the case of Cash Advances, from the date of the Cash Advance, to the date payment is received and credited to the Account. Interest will be debited to your account on a monthly basis at the rate specified in your Statement. |
| Amendment to Condition 16 INTEREST AND CHARGES - INTEREST, Sub condition 16 (c) |
If the full outstanding balance (including any Balance Transfer amount) is not repaid by the Payment Due Date in the Statement then:
|
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Amendment to Condition 16 INTEREST AND CHARGES - MINIMUM PAYMENTS, Sub condition 16 (f) |
The Principal Cardholder may select as the minimum payment percentage any of the following percentages: 2.5%, 25%, 50%, 100% subject to a minimum payment of €5.00 or 2.5% (whichever is greater). We do not recommend that you only pay the minimum payment for prolonged periods. Interest is charged on the full outstanding balance, until repayment of the full Statement balance is credited to the Account. |
|
Amendment to Condition 18 BALANCE TRANSFER, Sub condition 18 (b) |
Where you complete a Balance Transfer request, you authorise us to debit your Card with the Balance Transfer amount and authorise us to forward a credit for that amount to your existing credit card provider. |
|
New Sub condition 18 (c) |
No more than one Balance Transfer may be made to the Account. |
If you do not wish to accept the updated terms and conditions, you may terminate your agreement with us in line with your existing terms and conditions. If you do this, you must repay any money or charges due, but there will be no additional cost. If you do not contact us to terminate your contract, you are deemed to have accepted the changes from start of business 2nd December 2013.
