The Santander All in One Credit Card is a card that is issued to cater for the needs of people who need a card that offers multiple features that are useful in various circumstances. Given its features, the card seeks to help you transfer balances, make new purchases with interest free periods, and get cashback when spending.
This card helps to avoid the situation, when a person has to use several credit cards at once, as all the mentioned above benefits are combined into one card. Also, users can also get cashback on all the transactions done with the card, adding on to the benefits of using this card. This will help you comprehend the features of this credit card so that you can decide if it favored your monetary situation.
Key information about the credit card
How does the annual fee work?
The Santander All in One Credit Card has a rather low monthly fee of £3, equivalent to £36 per year. To some people this may be a disadvantage, but can be overlooked because of other advantages that come with the card including the cash back and the no interest deals. It is not possible to exempt from this fee but it is relatively low in comparison to the numerous options and convenience offered by this specific card.
How is the credit limit determined?
Santander calculates the credit limit of its All in One Credit Card by evaluating the applicant’s financial standing. This entails assessing the credit standing of the individual, his/her income, and his/her general financial standing. As for the branded credit cards or the conventional ones, the institution looks into the credit history, and income to determine the right limit to set for the card holder.
Advantages of the credit card
- 0% interest on purchases for 15 months: This is because you are able to make large purchases and not worry about interests being charged on your account thus providing you with time to clear the balance.
- 0% interest on balance transfers for 15 months with no fee: They should not charge additional fees on the transferred balances thus helping in the debt consolidation process.
- No foreign exchange fees on purchases overseas: Convenient for tourists, this option excludes additional charges for international processing.
- 0. 5% cashback on all purchases: You will get up to £10 cashback on all spending done in a month which will enhance the worth of your spending.
Standout advantage
The first major benefit of the Santander All in One Credit Card is that it has no interest on purchases and balance transfers in the first 15 months. This dual advantage gives users much needed financial freedom; they are able to make new purchases and not be charged interest until the next statement while they are also able to transfer existing balances without having to pay any transfer fees.
Disadvantages
- £3 a month: Though this is a relatively small fee, this is a recurring cost that the cardholders have to bear every month.
- Limited cashback cap: The 0. The cashback at 5% is however limited at £10 per month which can be disadvantageous if one spends a lot of money as they might not be able to take full advantage of the cashback.
- High representative APR: The 29. It is quite high if the balance is not fully paid off before the end of the introductory period, which stands at 8% APR (variable).
A standout disadvantage
The only downside to the Santander All in One Credit Card is its high representative APR of 29. 8% (variable). This rate can be quite costly for the consumers who do not clear their entire balance in every month after the teaser rate, resulting in higher interest charges in the long run.
Who can apply for this card?
Below are the requirements that one has to fulfill to get the Santander All in One Credit Card. Applicants have to be of the age of 18 years or above and should be a permanent resident of the United Kingdom. Also, the applicant should be above the age of 18 years, be economically active, and have a minimum annual income of £10,500.
How to apply for the Santander All in One Credit Card
For the website
To apply for the Santander All in One Credit Card via the website, go to the Santander UK website. To proceed with the process, go to the credit cards category and choose the All in One Credit Card product. Below you will find more information on the card and a link to a direct application form.
It is necessary to fill in the form with your basic information, financial data, and other necessary documents if needed. Once submitted, Santander will perform a basic credit check to see if you qualify for the loan. If approved, you will be sent your new credit card in the mail in a few business days along with a guide on how to activate the card and begin using it.
Through the app
Santander mobile application is also another channel through which one can apply for the All in One Credit Card. First of all, open the application store on your phone or tablet and search for the Santander mobile banking application. In order to use the service, you will first need to become a Santander customer, if you are not one already.
After logging in, follow the following steps; on the homepage go to credit cards and choose the All in One Credit Card. After that, go through the steps of the application filling in your and your financial information if necessary. After the approval, you will be notified on your mail and your new card will be shipped to you soon.
At the branch
If you are the kind of person that likes to visit a bank branch to apply for a card personally you can apply for the Santander All in One Credit Card. Go to any Santander branch and request for information on the All in One Credit Card. The representative will help you fill out the application and answer any questions that you might have as and when they arise.
Make sure you have all the necessary documents with you at all the time including the ID, income, and residence documents. After this, you will be issued a card which will be sent to you and you will be able to activate it through the details given.
