We've made it easy to understand the terms used in the Credit Cards section of the site. Please click on any of the terms below for simple explanations.

Additional Card

An extra card enables a spouse or partner to make purchases on the same credit card account. Why not share the benefits of your Royal Bank of Scotland credit card at no extra cost

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Annual Percentage Rate (APR)

This is the cost of credit calculated on an annual basis.

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Balance Transfer

You may be able to save money by transferring balances from your other credit cards and store cards to your Royal Bank of Scotland credit card which offers a highly competitive interest rate. There is no fee for this service and you’re other accounts won’t be closed. So if you’re collecting points towards free gifts or discounts on your other cards, you still can! Just transfer part or all of the balances to your Royal Bank of Scotland credit card and you may be able to benefit from our competitive rate of interest.

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Card Payment Protection (CPP)

This ensures you can meet your repayments in the event of accident, illness, unemployment or death. Its excellent value at just 75p for every £100 outstanding balance – and would repay up to 10% of your outstanding balance every month if you were unable to work, and pay off your balance in full in the event of your death.

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Card Registration

Takes the hassle out of reporting your lost or stolen credit cards. Just one free phone call whether at home or abroad will stop all your credit cards and arrange replacements for just £12 a year.

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Cash Advance

It’s possible to use your credit card to get cash across the counter at branches of the Royal Bank and other participating banks, or through the world wide network of cash machines that carry the Visa or MasterCard logo.

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Convenience Cheques

These are cheques issue by the bank for use with your credit card account. They make it easy for you to pay for good and services in the few establishments where credit cards are not accepted.

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Credit Reference Search

The application information you provide will be subject to a credit search with a credit reference agency in order to assess your credit rating and establish your identity, where required. Each time a credit search is conducted it is recorded against your details held at the credit reference agency.

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Interest Free Period

Credit card bills are issued monthly in arrears – so July’s purchases, for example, are billed at the end of August. That means a credit card automatically gives you at least 30 days interest free credit, and depending on how early in any month you make a purchase, the interest free period could be as much as 56 days.

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