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
£100
Interest-free each billing period
Up to 56 days
Account fee
£0
Our verdict
Cashplus is now part of Zempler Bank, here's what we know.
As with most credit builder cards, the Zempler Bank (formerly Cashplus) Credit Card’s 39.9% 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.
Pros
Applicants with low credit scores may be eligible
No annual fee
Cons
Minimum annual income requirement of £15,000
As with most credit builders, this card packs a fairly steep interest rate on purchases
A punishing interest rate of 49.94% on cash withdrawals
You may be offered an opening credit limit as low as £100
In this guide
Our verdict
Details
Product Overview
Fees and charges
Application Requirements
Digital banking company Zempler Bank 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.
Details
Product Overview
Issuer
APS Financial Ltd
Network
Mastercard
Annual/monthly fees
£0
Minimum credit limit
£100
Maximum credit limit
Subject to status: £3,000
Credit limit note
Linked to primary cardholder limit
Purchases
39.94%
Purchases interest-free period (days)
56
Additional cards available
4
Potential costs
3.6 ★★★★★
Doing its job
3.8 ★★★★★
Extras
4.0 ★★★★★
Overall Finder Score
3.7 ★★★★★
Fees and charges
Minimum monthly payment
3% or £10 (whichever is greater) or the total of any interest, default fees and charges plus 3% of the outstanding balance.
Annual/monthly fees
£0
Foreign usage charge (EU)
2.99%
Foreign usage charge (rest of world)
2.99%
Cash advance fee
3% (min. £3)
Late payment fee
£12
Duplicate statement fee
£0
Exceeding limit fee
£12
Additional card fee
£0
Dormancy fee
£0
Application Requirements
Minimum Age
18
Minimum income
£15,000
Availability
Available to new customers
The Zempler Credit Card (formerly Cashplus) is issued on the Mastercard network, so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.
Approval for any credit card depends on your status. The representative APRs shown represent 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. Most of the data in Finder's comparison tables is provided by Moneyfacts.
Repayment options
You can make manual repayments through Zempler's app by logging in to your online banking or over the phone (0330 024 0924). 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
You can't currently apply online for the new Zempler credit card, however you can apply for a Zempler Bank account.
Frequently asked questions
What credit limit will I get with the Zempler Credit Card (formerly Cashplus)?
If Zempler offers you this deal, it will specify a personalised credit limit based on Zempler'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 Zempler you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Zempler Credit Card (formerly Cashplus)?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Zempler Credit Card (formerly Cashplus) is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a fee of £7.50.
The interest rate on this part of your balance will be 49.94%, which is 25% more than the standard purchase 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 Zempler Credit Card (formerly Cashplus) abroad?
Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (£165.32), it'll cost you around £4.94 in fees.
What is the minimum payment on the Zempler Credit Card (formerly Cashplus)?
Each month, you must pay at least 3% of your balance at that point or £10.00 – whichever of the 2 figures is greater. So if you had, say, £316.67 outstanding, you'd pay £10.00, and if you had £1,333.33 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 scores
★★★★★ — 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.
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. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.
See full profile
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.