A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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Term
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Description
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A
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APR (Annual Percentage Rate)
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The APR is the amount of interest you’ll be expected to pay if you borrow using your credit card.
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Additional Card
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A card we issue to an additional person nominated by you.
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B
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Balance Transfer
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This is a payment you ask us to make from your Santander Credit Card account to repay or reduce an amount you owe to another credit or store card provider
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Balance Transfer Fee
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This is a charge for the balance transfer service.
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C
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Credit Limit
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Your credit limit is the most you are allowed to borrow on your account.
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Credit Reference Agency
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Credit reference agencies supply information about people to financial institutions to help them make lending decisions. They also confirm people’s addresses and help guard against fraud.
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I
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Interest Free Period
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If you don’t have an outstanding balance on your credit card, the interest free period is the maximum time you have to pay new balances before interest charges apply.
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M
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Minimum Repayment
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This is the minimum amount you need to repay each month by a certain date. It’s usually based on a given percentage of the total balance.
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O
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Outstanding Balance
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Your outstanding balance is what remains on your account at any time, unless you’ve cleared the balance and made no further transactions.
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P
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PIN
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The Personal Identification Number is a private number you'll need in order to use your card in cash machines and shops
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S
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Statement
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This is a monthly bill from Santander Cards Limited which summarises your account, including the outstanding balance, new purchases, payments, credits, interest charges, other finance charges and other transactions for the month.
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Statement Date
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The date your statement is produced.
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V
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Variable Rate
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An interest rate which may change from time to time.
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