Approval for any credit card will depend 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.
first direct Gold Credit Card review 2022
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
Up to 56 days
Interest-free each billing period
|Balance transfer fee||2.9% (min. £5)|
|Purchases||0% for 17 months reverting to 16.9%|
|Purchases interest-free period||Up to 56 days|
|Minimum credit limit||£500|
|Maximum credit limit||Not specified|
|Additional cards available||1|
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.
Pros and cons
- Over a year to spread the cost of purchases
- No annual fee
- Applicants with low credit scores are unlikely to be eligible
- Only available to existing customers
How does it compare?
First Direct's card
Other popular 0% purchases deals
You can make manual repayments through First Direct's app, by logging in to your online banking or over the phone (03 456 00 24 24). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and losing your promotional interest rate as a result (as well as damaging your credit score and incurring the late payment fee of £12). If you're planning a major expenditure, you could use a fixed-amount direct debit to ensure you've cleared the debt before the 0% period expires – simply divide your initial expenditure by 17 to see what you'll need to pay each month (this assumes you don't use the card for ongoing spending).
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 an existing First Direct customer and you've compared cards and settled on the first direct Gold Credit Card, 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'll need to make the process as straightforward as possible.
Frequently asked questions
What credit limit will I get with the first direct Gold Credit Card?
If First Direct is able to offer you this deal, the offer will specify a personalised credit limit based on First Direct's assessment of your situation. The minimum limit offered on this card is £500 and First Direct does not specify a maximum. Once you've had the card for a while and shown First Direct that you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the first direct Gold Credit 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 first direct Gold Credit Card is 2.99% (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 £7.48.
The interest rate on this part of your balance will be 23.9%, which is 41% 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 first direct Gold Credit Card abroad?
Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (£172.52), it'll cost you around £5.16 in fees.
What is the minimum payment on the first direct Gold Credit Card?
Each month you must pay at least 3% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £150.00 outstanding, you'd pay £5.00, and if you had £666.67 outstanding, you'd pay £20.00.
Paying only the minimum required amount each month is generally not advisable as it makes it much harder to get debt-free before that introductory 0% period expires.