New Look Card review 2021
The store card that rewards regular New Look shoppers.
Finder rating: ★★★★★
Doing its job: 4/5
In a nutshell:
Up to 55 days
Interest-free each billing period
Minimum credit limit
|Additional Rewards Info||20% off your second purchase. Exclusive promotions and events.|
|Min credit limit||£50|
|Max credit limit||Subject to status: £300|
|Credit limit note||Can be increased to £750 at a later date.|
|Purchases interest-free period (days)||55|
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 store card for New Look allows shoppers to take advantage of an interest-free period on purchases, rewards and a credit facility.
While some high street stores offer credit cards for all your day-to-day spending, as a true “store card”, the New Look card is specifically for your New Look shopping and won’t work elsewhere. It’s not on the Mastercard or Visa networks.
With a relatively high rate of interest charged when you carry a balance from month to month, this card is probably best suited to fans of New Look who would clear their balance in full each billing cycle (and therefore not incur interest). For others, the rewards could potentially be outweighed by the cost of interest.
Pros and cons
- No annual fee
- A relatively high interest rate on purchases
- Applicants with low credit scores are unlikely to be eligible
- You may be offered an opening credit limit as low as £50
How does this card compare with other similar cards on the market?
You can make manual repayments through Ikano Bank'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 either damaging your credit score, getting hit with a penalty fee (£12) 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
If you've compared cards and settled on the New Look 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 New Look Card?
If Ikano Bank is able to offer you this deal, the offer will specify a personalised credit limit based on Ikano Bank's assessment of your situation. The minimum limit offered on the card is £50, while the maximum is £300. Once you've had the card for a while and shown Ikano Bank that you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the New Look 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.
There's no cash advance fee on the New Look Card.
The interest rate on this part of your balance will be (chargeable from the day of the transaction – the card's usual "up to 55 days interest-free" grace period won't apply).
What is the minimum payment on the New Look Card?
Each month you must pay at least 3.65% of your balance at that point or £3.65 – whichever of the two figures is greater. So if you had, say, £86.30 outstanding, you'd pay £3.65, and if you had £400.00 outstanding, you'd pay £14.60.
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.