Credit Card
Put simply, a credit card is a way of borrowing money that lets you purchase things up to an agreed limit and pay for them later, either in one go or by instalments.
You can buy things in the same way you use your debit card, but there’s a key difference. Debit cards use money from your current account, whereas paying on your credit card means borrowing money from your credit card provider.
When you spend on a credit card, the amount is added to the card’s balance. That – alongside any interest and fees – is the total amount you owe.
What you should know
A credit card can be an expensive way of borrowing, so you should try and pay your full balance every month. If you don’t, you will be charged interest on your balance, unless you have a special introductory offer from your card provider.
- $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening — plus now choose how you earn rewards.
- No annual fee†.
- Earn 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings and 2% cash back at grocery stores and wholesale clubs on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%.
- Earn unlimited 1% cash back on all other purchases.
- Plus, Preferred Rewards clients get a 25%-75% rewards bonus on every purchase.
- Go to the Mobile Banking app or to Online Banking to change your choice category for future purchases once each calendar month, or make no change and it stays the same.
- Introductory 0%† APR for your first 12 billing cycles for purchases, and for any balance transfers made within 60 days of opening your account. After the intro APR offer ends, a Variable APR that’s currently 16.24% to 26.24% will apply. A 3% fee (min $10) applies to all balance transfers.