In this guide

  • Our verdict
  • Details
    • Product Overview
    • Fees and charges
    • Application Requirements
  • Your reviews

opus card review

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opus card
3.5
★★★★★
Finder score
Representative example:
When you spend £1,200 at a purchase rate of 39.95% (variable) p.a., your representative rate is 39.9% APR (variable).
Minimum credit limit
£250
Interest-free each billing period
Up to 48 days
Account fee
£0

Our verdict

This card is no longer available, but you can use our review to find alternatives.

Using your credit card to withdraw cash is normally a bad idea – with most card issuers charging a fee and a higher rate of interest for the privilege.

The opus card aims to provide a way around this, by offering the facility to transfer money from your credit card to your bank account, giving you greater control over how you use your credit.

For example, say you're getting married and you need to pay various people in cash. You can use the opus card app to quickly and easily transfer funds from your card to your current account as and when you need to, and that could work out cheaper and easier than a cash advance (it certainly would on this card).

There are several catches, however.

There's a money transfer fee of 3% (min. £3) to consider. It's also worth noting that while, like most cards, the opus card won't charge you any interest at all on your purchases if you clear your balance in full each month, money transfers and cash advances (withdrawing cash from your card) are exempt from this. That means any funds you transfer out will start to accrue interest straightaway.

Finally, since it's designed to be accessible to those with less-than-perfect credit histories, the opus card also comes with relatively high rates of interest. What's more, rates are tailored to the applicant, meaning that you might be offered a different (higher) rate than those advertised. Credit limits are also tailored to the applicant.

Pros

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

Cons

  • As with most credit builders, this card packs a fairly steep interest rate on purchases
  • A punishing interest rate of 49.95% on cash withdrawals
  • A punishing fee of 5% on cash withdrawals (you should avoid using a credit card to withdraw cash in any case)
  • You may be offered an opening credit limit as low as £250

In this guide

  • Our verdict
  • Details
    • Product Overview
    • Fees and charges
    • Application Requirements
  • Your reviews

The opus card has been discontinued and is no longer available. However, this information has been kept for historical purposes. You can use this page to compare similar cards from other issuers.

Details

Product Overview

Issuer NewDay Ltd
Network Mastercard
Annual/monthly fees £0
Balance transfers 39.95%
Balance transfer fee 3% (min. £3)
Purchases 39.95%
Purchases interest-free period Up to 48 days
Money transfers 39.95%
Cash advances 49.95%
Minimum credit limit £250
Maximum credit limit Subject to status: £1,200
Additional cards available 3
Potential costs 3.5 ★★★★★
Doing its job 2.0 ★★★★★
Extras 4.0 ★★★★★
Overall Finder Score 3.5 ★★★★★

Fees and charges

Minimum monthly payment 1% or £5 (whichever is greater) or the total of any interest, default fees and charges plus 1% of the outstanding balance.
Annual/monthly fees £0
Balance transfer fee 3% (min. £3)
Money transfer fee 3% (min. £3)
Foreign usage charge (EU) 2.95%
Foreign usage charge (rest of world) 2.95%
Cash advance fee 5% (min. £4)
Late payment fee £12
Exceeding limit fee £12
Additional card fee £0
Dormancy fee £0

Application Requirements

Minimum Age 18
Minimum income £5,000
Availability Available to new customers

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

Other credit builders

Table: sorted by representative APR, promoted deals first
1 - 5 of 28
Name Product Finder Score Annual/monthly fees Initial credit limits Minimum income Representative APR Incentive Link
Barclaycard Forward Credit Card
3.8
★★★★★
£0
Min. limit £50, max. limit £1,200.
£3000
33.9%
Rate discounts: 3% interest rate reduction if you make all your repayments on time for the first year, and a further drop of up to 2% more if you continue to do so in the second year.
Representative example: When you spend £1,200 at a purchase rate of 33.9% (variable) p.a., your representative rate is 33.9% APR (variable).
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Zable credit card
3.4
★★★★★
£0
Min. limit £200, max. limit £1,500.
£9,600
48.9%
Representative example: Representative 48.9% APR (variable). Based on assumed borrowing of £1200. Rate of interest 48.9% (variable) annual.
Check eligibility
118 118 Money Guaranteed Rate Card
3.6
★★★★★
£0
Min. limit £500, max. limit not specified.
£8400
49%
Representative example: When you spend £1,200 at a purchase rate of 49% (variable) p.a., your representative rate is 49% APR (variable).
Check eligibility
Additional account needed
AIB Student Credit Card
4.0
★★★★★
£0
Min. limit £300, max. limit not specified.
Not specified
12.9%
Representative example: When you spend £1,200 at a purchase rate of 12.2% (variable) p.a., your representative rate is 12.9% APR (variable).
Additional account needed
HSBC Student Credit Card Visa
3.5
★★★★★
£0
Min. limit £250, max. limit £500.
Not specified
18.9%
Available alongside an HSBC Student Account (receive £100 and a 1-year subscription to Headspace when you open a new student account).
Representative example: When you spend £500 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
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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 NewDay Ltd's app by logging in to your online banking or over the phone (0333 414 1077). 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

Sorry – NewDay Ltd is no longer accepting applications for this card. However you may wish to consider one of the alternatives listed above.

Frequently asked questions

What credit limit will I get with the opus card?

If NewDay Ltd offers you this deal, it will specify a personalised credit limit based on NewDay Ltd's assessment of your situation. The minimum limit offered on the card is £250, while the maximum is £1,200. Once you've had the card for a while and shown NewDay Ltd you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the opus card?

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 opus card is 5% (min. £4). For example, if you withdraw £50, you'll incur a fee of £4.00. Withdraw £250 and you'll incur a rather painful fee of £12.50.

The interest rate on this part of your balance will be 49.95%, which is 25% more than the standard purchase rate (chargeable from the day of the transaction – the card's usual "up to 48 days interest-free" grace period won't apply).

How much does it cost to use the opus card abroad?

Non-sterling transactions are subject to a 2.95% charge. For example, if you spend 200 euros (£169.26), it'll cost you around £4.99 in fees.

What is the minimum payment on the opus card?

Each month, you must pay at least 1% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £450.00 outstanding, you'd pay £5.00, and if you had £2,000.00 outstanding, you'd pay £20.00.

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.

Can I transfer money from the opus card to a bank account?

Yes. That's what's known as a "money transfer" (rather than a "balance transfer") in credit card jargon. You can arrange this from your online banking or using NewDay Ltd's app. This part of your card balance will incur interest of 39.95%. The fee for a money transfer is 3% (min. £3).

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.

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. 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.

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