Cashplus Credit Card review | 49.9% rep. apr | Finder UK

Cashplus Credit Card review 2021

Last updated:  

Available by invitation only, the Cashplus credit card is designed for customers who are looking to improve their credit score. The credit card can be easily managed online or via mobile app.

Digital banking company Cashplus offers a solid credit builder credit card to people whose credit score makes it difficult to be accepted for other kinds of credit – whether they have bad credit or because it’s the first time they’re borrowing money. For now, it’s an invitation-only credit card and you can only apply if you receive a letter or an email from Cashplus.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 39.94% (variable) p.a., your representative rate is 39.9% APR (variable).


Minimum credit limit

Up to 56 days

Interest-free each billing period


Representative APR


Account fee


IssuerAPS Financial Ltd
Annual/monthly fees£0
Min credit limit£100
Max credit limitSubject to status: £3,000
Credit limit noteSubject to status
Purchases interest-free period (days)56
Additional cards available4

Expert review

Chris Lilly

Review by

Chris Lilly is a publisher at He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.

Expert review

As with most credit builder cards, the Cashplus Credit Card’s 49.9% rate on purchases means you absolutely want to use this card responsibly and avoid carrying a balance from month to month. However, provided you do pay your bill in full and on time, you’ll get a decent level of flexibility – up to 56 days of 0% interest on your purchases each billing cycle.

Other appealing features of this card include the lack of an annual fee and the smart mobile app (which you’d expect to be pretty decent given that Cashplus is a digital-only credit card start-up).

As this card is on the Mastercard network, it’s accepted in more than 40 million locations worldwide. You’ll also be able to enjoy access to Priceless Cities experiences.

The Cashplus Credit Card is issued on the Mastercard network so it's accepted at nearly 53 million merchants across more than 210 countries and territories.


Build your credit history while you save with LOQBOX

  • Save from £20 to £200 a month
  • Build and improve your credit history
  • Once you’ve finished unlock your savings

Pros and cons


  • Applicants with low credit scores may be eligible
  • No annual fee


  • A steep interest rate on purchases
  • A punishing rate of 49.94% on cash withdrawals
  • You may be offered an opening credit limit as low as £100

How does it compare?

Cashplus's card

Data updated daily
Name Product Annual/monthly fees Min credit limit Max credit limit Minimum income Rep. APR Incentive Link
Cashplus Credit Card
Subject to status: £3,000
Not specified
Representative example: When you spend £1,200 at a purchase rate of 39.94% (variable) p.a., your representative rate is 39.9% APR (variable).
More Info

Compare up to 4 providers

Other popular credit builders

Table: sorted by representative APR, promoted deals first
Data updated daily
Name Product Annual/monthly fees Min credit limit Max credit limit Minimum income Rep. APR Incentive Link
TSB Classic Credit Card Mastercard
Not specified
Not specified
Representative example: When you spend £1,200 at a purchase rate of 26.95% (variable) p.a., your representative rate is 26.9% APR (variable).
More Info
Tesco Bank Foundation Card
Subject to status
Collect 1 Tesco Clubcard point per £4 spent (£4 minimum) in Tesco and 1 Clubcard point per £8 spent (£8 minimum) outside Tesco in each purchase transaction.  Must have available credit to collect Clubcard points. Clubcard points are turned into Clubcard vouchers every 3 months or sooner using Faster Vouchers. Clubcard vouchers can be used in Tesco or with Clubcard Reward Partners to get even more value on dining out, hotel stays and travel.
Representative example: When you spend £1,200 at a purchase rate of 27.542% (variable) p.a., your representative rate is 27.5% APR (variable).
More Info
Vanquis Bank Chrome Credit Card
Subject to status: £1,500
Not specified
Representative example: When you spend £250 at a purchase rate of 29.5% (variable) p.a., your representative rate is 29.5% APR (variable).
More Info
Vanquis Bank Aquis Visa
Subject to status: £1,000
Not specified
You could get a credit limit increase after your 5th statement and further increases every 5 months, up to £4,000.
Representative example: When you spend £1,000 at a purchase rate of 29.84% (variable) p.a., your representative rate is 29.8% APR (variable).
More Info

Compare up to 4 providers

Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.

Repayment options

You can make manual repayments through Cashplus's app, by logging in to your online banking or over the phone . Alternatively you may wish to set up a direct debit.

A direct debit protects you from forgetting to make a repayment and damaging your credit score – making it harder and more expensive to borrow money in the future – and getting hit with a penalty fee (£12) as a result.

You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:

Minimum amount Fixed amount Fixed percentage Full amount

How to apply

If you're a Cashplus customer and have received an email or a letter inviting you to apply for its credit card, then you can do it. As of February 2019, the Cashplus credit card is not open to spontaneous applications.

Once you've got the invitation code, looked around and decided this credit card has got what you're looking for, you can apply online. Cashplus says it shouldn't take more than a few minutes, and it'll let you know instantly whether your application has been successful.

Frequently asked questions

What credit limit will I get with the Cashplus Credit Card?

If Cashplus is able to offer you this deal, the offer will specify a personalised credit limit based on Cashplus's assessment of your situation. The minimum limit offered on the card is £100, while the maximum is £3,000. Once you've had the card for a while and shown Cashplus that you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the Cashplus Credit Card?

Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (withdrawing cash at an ATM, getting cashback at the till, spending at a casino, buying currency, etc.) often incur steep fees and/or higher rates of interest.

The cash advance fee on the Cashplus Credit Card is 3%.

The interest rate on this part of your balance will be 49.94%, which is the same as the standard purchases rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).

How much does it cost to use the Cashplus Credit Card abroad?

Non-sterling transactions are subject to a 2.99% charge. For example, if you spend 200 euros (£172.31), it'll cost you around £5.15.

What is the minimum payment on the Cashplus Credit Card?

Each month you must pay at least 5% of your balance at that point or £10.00 – whichever of the two figures is greater. So if you had, say, £190.00 outstanding, you'd pay £10.00, and if you had £800.00 outstanding, you'd pay £40.00.

Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money which can lead to persistent debt.

Finder credit card ratings

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Our experts score credit builder credit cards to determine their value against similar products on the market. We look at a number of important factors, like interest rates, credit limits, features to help you track your credit, plus the potential costs involved with running the card both in the short and longer term.

You can read more about our scoring criteria on our credit card methodology page.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site