opus card review 2021

A money transfer credit card for those trying to rebuild a positive credit history.

Finder rating: ★★★★★

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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).

£250

Minimum credit limit

Up to 48 days

Interest-free each billing period

39.9%

Representative APR

£0

Account fee

Details

IssuerNewDay Ltd
NetworkMastercard
Annual/monthly fees£0
Balance transfers39.95%
Balance transfer fee3% (min. £3)
Purchases39.95%
Purchases interest-free periodUp to 48 days
Money transfers39.95%
Cash advances49.95%
Min credit limit£250
Max credit limitNot specified
Additional cards available1

Review by


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.

Expert review

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.

Aqua Classic Credit Card

Aqua Classic Credit Card

  • An Initial credit limit of £250-£1,200
  • Receive text alerts when you’re approaching your credit limit
  • Choose your repayment date
  • No annual fee

Representative 29.7% APR (variable)

Credit provided by NewDay Ltd. 18+, subject to status, UK only. T&Cs apply.
Promoted

Pros and cons

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 rate of 49.95% on cash withdrawals

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.

How does it compare?

NewDay Ltd's card

Name Product Annual/monthly fees Initial credit limits Minimum income Representative APR Incentive Link
opus card
£0
Min. limit £250, max. limit not specified.
Not specified
39.9%
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).
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Other popular credit builders

Table: sorted by representative APR, promoted deals first
Name Product Annual/monthly fees Initial credit limits Minimum income Representative APR Incentive Link
Aqua Classic Credit Card
£0
Min. limit £250, max. limit £1,200.
Not specified
29.7%
Representative example: Assumed credit limit £1,200, representative 29.7% APR (variable), purchase rate 29.75% p.a. (variable).
Please note: you can’t have two Aqua accounts or open an Aqua account within 12 months of opening a Marbles, Fluid or Opus account, issued by New Day
Check eligibility
Marbles Card
£0
Min. limit £250, max. limit £1,200.
Not specified
29.7%
You could get a credit limit increase after three months. Choose a monthly repayment date that suits you and change it up to twice a year.
Representative example: Assumed credit limit £1,200, representative 29.7% APR (variable), purchase rate 29.75% p.a. (variable).
Please note: you can’t have two Marbles accounts or open a Marbles account within 12 months of opening an Aqua, Fluid or Opus account, issued by New Day
Check eligibility
Bip Credit
£0
Min. limit £250, max. limit not specified.
Not specified
29.9%
Representative example: When you spend £1,200 at a purchase rate of 29.95% (variable) p.a., your representative rate is 29.9% APR (variable).
Check eligibility
Aqua Classic Balance Transfer Card
£0
Min. limit £250, max. limit £1,200.
Not specified
34.9%
Representative example: Assumed credit limit £1,200, representative 34.9% APR (variable), purchase rate 34.95% p.a. (variable).
Please note: you can’t have two Aqua accounts or open an Aqua account within 12 months of opening a Marbles, Fluid or Opus account, issued by New Day
Check eligibility
Tesco Bank Foundation Card
£0
Min. limit £100, max. limit not specified.
£5000
27.5%
Collect 1 Tesco Clubcard point per £4 spent (£4 minimum) in Tesco and 1 Clubcard point per £8 spent (£8 minimum) outside Tesco in each purchase transaction.  Must have available credit to collect Clubcard points. Clubcard points are turned into Clubcard vouchers every 3 months or sooner using Faster Vouchers. Clubcard vouchers can be used in Tesco or with Clubcard Reward Partners to get even more value on dining out, hotel stays and travel.
Representative example: When you spend £1,200 at a purchase rate of 27.542% (variable) p.a., your representative rate is 27.5% APR (variable).
TSB Classic Credit Card Mastercard
£0
Min. limit £500, max. limit not specified.
Not specified
27.9%
Representative example: When you spend £1,200 at a purchase rate of 27.95% (variable) p.a., your representative rate is 27.9% APR (variable).
Vanquis Bank Chrome Credit Card
£0
Min. limit £250, max. limit £1,500.
Not specified
29.5%
Representative example: When you spend £250 at a purchase rate of 29.5% (variable) p.a., your representative rate is 29.5% APR (variable).
Vanquis Bank Aquis Visa
£0
Min. limit £250, max. limit £1,000.
Not specified
29.8%
You could get a credit limit increase after your 5th statement and further increases every 5 months, up to £4,000.
Representative example: When you spend £1,000 at a purchase rate of 29.84% (variable) p.a., your representative rate is 29.8% APR (variable).
Amazon Classic Mastercard
£0
Min. limit £500, max. limit not specified.
Not specified
29.9%
Be upgraded to the Amazon Platinum Mastercard if you make at least one transaction a month, make repayments on time and stay within credit limit in the first 12 months..
Representative example: When you spend £1,200 at a purchase rate of 29.95% (variable) p.a., your representative rate is 29.9% APR (variable).
HSBC Classic Credit Card Visa
£0
Min. limit £250, max. limit £1,000.
£6800
29.9%
Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
Representative example: When you spend £1,200 at a purchase rate of 29.9% (variable) p.a., your representative rate is 29.9% APR (variable).
Vanquis Bank Balance Transfer Credit Card Visa
£0
Min. limit £150, max. limit £1,000.
Not specified
33.5%
Representative example: When you spend £1,000 at a purchase rate of 33.5% (variable) p.a., your representative rate is 33.5% APR (variable).
Barclaycard Forward Credit Card
£0
Min. limit £50, max. limit £1,200.
£3000
33.9%
Buy tickets for up to 3500 selected live events through Barclaycard entertainment and get 5% off tickets per year and exclusive pre-sale tickets on selected festivals with 10% off ticket prices.
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).
118 118 Money Guaranteed Rate Card
£0
Min. limit £500, max. limit not specified.
£8400
34%
Representative example: When you spend £1,200 at a purchase rate of 34% (variable) p.a., your representative rate is 34% APR (variable).
Aqua Advance credit card
£0
Min. limit £250, max. limit £1,200.
Not specified
34.9%
Reduce your rate over three years if you stay within your credit limit and pay on time. No extra fees on what you spend abroad.
Representative example: When you spend £1,200 at a purchase rate of 34.95% (variable) p.a., your representative rate is 34.9% APR (variable).
Fluid Credit Card
£0
Min. limit £250, max. limit not specified.
Not specified
34.9%
Representative example: When you spend £1,200 at a purchase rate of 34.94% (variable) p.a., your representative rate is 34.9% APR (variable).
Level Credit Card
£0
Min. limit £200, max. limit £1,500.
£9600
34.9%
Representative example: When you spend £1,200 at a purchase rate of 34.9% (variable) p.a., your representative rate is 34.9% APR (variable).
Zopa Credit Card Visa
£0
Min. limit £200, max. limit not specified.
£10000
34.9%
Representative example: When you spend £1,200 at a purchase rate of 34.9% (variable) p.a., your representative rate is 34.9% APR (variable).
Post Office Classic Card
£0
Min. limit £200, max. limit £8,000.
Not specified
34.9%
Representative example: When you spend £1,200 at a purchase rate of 34.94% (variable) p.a., your representative rate is 34.9% APR (variable).
Capital One Classic Credit Card
£0
Min. limit £200, max. limit £1,500.
Not specified
34.9%
Representative example: When you spend £1,200 at a purchase rate of 34.94% (variable) p.a., your representative rate is 34.9% APR (variable).

Capital One Luma Mastercard
£0
Min. limit £200, max. limit £1,500.
Not specified
35.9%
Representative example: When you spend £1,200 at a purchase rate of 35.94% (variable) p.a., your representative rate is 35.9% APR (variable).
Capital One Luma Purchase Mastercard
£0
Min. limit £200, max. limit £1,500.
Not specified
35.9%
Representative example: When you spend £1,200 at a purchase rate of 35.94% (variable) p.a., your representative rate is 35.9% APR (variable).
thinkmoney credit card
£0
Min. limit £200, max. limit £1,500.
Not specified
39.9%
Representative example: When you spend £1,200 at a purchase rate of 39.94% (variable) p.a., your representative rate is 39.9% APR (variable).
opus card
£0
Min. limit £250, max. limit not specified.
Not specified
39.9%
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).
thimbl. credit card
£0
Min. limit £150, max. limit £1,000.
Not specified
39.9%
Representative example: When you spend £1,000 at a purchase rate of 39.94% (variable) p.a., your representative rate is 39.9% APR (variable).
Ocean Credit Card
£0
Min. limit £200, max. limit £1,500.
Not specified
39.9%
Representative example: When you spend £1,200 at a purchase rate of 39.94% (variable) p.a., your representative rate is 39.9% APR (variable).
Cashplus Credit Card Mastercard
£0
Min. limit £50, max. limit not specified.
Not specified
39.9%
Representative example: When you spend £1,200 at a purchase rate of 39.94% (variable) p.a., your representative rate is 39.9% APR (variable).
Vanquis Bank Classic Credit Card Visa
£0
Min. limit £150, max. limit £1,500.
Not specified
39.9%
Representative example: When you spend £1,000 at a purchase rate of 39.94% (variable) p.a., your representative rate is 39.9% APR (variable).
Origin Credit Card
£0
Min. limit £150, max. limit £1,500.
Not specified
59.9%
Representative example: When you spend £250 at a purchase rate of 59.94% (variable) p.a., your representative rate is 59.9% APR (variable).
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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.

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

When you submit an application for a credit card, the card issuer will run a full credit check, which has a slight (and usually short-lived) negative effect on your credit score.

Since that's particularly unhelpful for those trying to rebuild their credit ratings, the opus site offers a "FastCheck" facility – essentially a soft credit search which won't affect your credit score, but which can tell you your likelihood of approval before you apply. To run the FastCheck, you need to give some basic details about yourself, including where you've lived over the last three years.

After using the FastCheck service, if you're happy to proceed, the simple online application form takes around 10-15 minutes to complete. You won't usually have to wait more than a couple of minutes to find out if your application has been successful. Don't forget to take a close look at what you're offered, since rates and credit limits will be based on your specific circumstances, taking into account factors like credit score, income and level of debt.

Frequently asked questions

What credit limit will I get with the opus card?

If NewDay Ltd is able to offer you this deal, the offer will specify a personalised credit limit based on NewDay Ltd's assessment of your situation. The minimum limit offered on this card is £250 and NewDay Ltd does not specify a maximum. Once you've had the card for a while and shown NewDay Ltd that 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 purchases 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 (£168.88), it'll cost you around £4.98 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 two 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).

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