first direct Gold Credit Card review January 2020
Existing first direct current account holders can spread the cost of a large upcoming expenditure with 17 months of 0% interest on purchases.
Finder rating: ★★★★★
Doing its job: 4/5
In a nutshell:
0% interest on purchases
|Balance transfer fee||2.9% (min. £5)|
|Purchases||0% for 17 months reverting to 16.9%|
|Purchases interest-free period||Up to 56 days|
|Min. credit limit||£500|
|Max credit limit||Not specified|
|Additional cards available||1|
|Incentive||Earn cashback with selected retailers via Visa Offers, customers can register up to five separate first direct Visa cards.|
Chris Lilly is a publisher at finder.com. 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.
This is a decent (although not spectacular) 0% purchase card. If you already bank with first direct, the digital-only arm of HSBC, and are anticipating a large upcoming expenditure, it could help you to spread the cost. The 0% deal isn’t super long, but it does the job.
There’s also no annual or monthly fee to worry about. However, don’t forget that after the introductory 0% period expires, any outstanding balance will start to accrue interest at the card’s standard rate. Make sure you have a plan to pay it off before that happens.
This card is only available to existing customers and you can’t get a balance transfer deal on it. If that’s what you’re looking for, you may want to check out first direct’s other credit card instead.
You don’t wanna take this card on holiday with you abroad (or maybe you do, but just to take it for a ride – you definitely don’t want to use it!) because it charges a 2.99% foreign currency transaction fee. Which means that for every £100 you spend in another currency, you’ll owe £2.99 to first direct. Not good.
On a happier note, you can score some nice rewards with this card thanks to the Visa Offers scheme. If you subscribe, you’ll get cashback when you use the card at certain retailers.
How does this card compare?
When it comes to repayments, you can make manual repayments online or over the phone (03 456 00 24 24), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates 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 for the first direct Gold Card Visa
If you have compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you will need to make the process as straightforward as possible.