No annual fee and earn 0.25% cashback on your day-to-day spending with the smile Classic Credit Card.
smile Classic Credit Card review 2023
By Chris Lilly
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Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
- Earn rate
- 1p per £1 spent
- Representative APR
- 19.9% (variable)
- Balance transfer fee
- 0%
- Account fee
- £0
A cashback card for existing Smile or Co-operative Bank customers.
The Smile Classic Credit Card offers cashback on all spending with no annual fee. It's not the biggest cashback percentage in the market, but if you use the card regularly, you’ll still make enough to treat yourself to dinner once a year or so. The cashback will be credited directly into your credit card account, so the whole process is totally hassle-free.
When it comes to financial features, this is a fairly standard credit card that can add some extra flexibility to your monthly budget. Provided you clear your balance in full each month you'll be able to take advantage of up to 56 days of 0% interest on your purchases.
The interest rate is fairly average, but the good news is, if you qualify for the card, it’s exactly the one you’ll get. Unlike most credit card providers, that are only required to grant the advertised rate to 51% of their customers, smile guarantees it to all applicants that are approved.
Finally, if you’re a bit of a globetrotter, keep in mind that this is not the right card for your travels, because it will charge a 2.75% fee on all non-sterling transactions.
Pros
- Earn cashback on day-to-day spending
- No annual fee
Cons
- Minimum annual income requirement of £10,000
- Applicants with low credit scores are unlikely to be eligible
- Only available to existing customers
- You may be offered an opening credit limit as low as £200
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
Details
Product Overview
| Issuer | The Co-operative Bank |
| Network | Visa |
| Representative APR | 19.9% APR (variable) |
| Annual/monthly fees | £0 |
| Loyalty scheme | Cashback |
| Cashback details | 0.25% after £1 of monthly spend. Cashback paid Monthly into Card Account. |
| Purchases | 19.9% |
| Purchases interest-free period (days) | 56 |
| Balance transfers | 19.9% |
| Potential costs | ★★★★★ |
| Doing its job | ★★★★★ |
| Extras | ★★★★★ |
| Overall Finder rating | ★★★★★ |
| Overall customer rating | Not yet rated |
Fees and charges
| Minimum monthly payment | 2% 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 | 0% |
| Foreign usage charge (EU) | 2.75% |
| Foreign usage charge (rest of world) | 2.75% |
| Cash advance fee | 3% (min. £3) |
| Late payment fee | £10 |
| Exceeding limit fee | £10 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application Requirements
| Minimum Age | 18 |
| Minimum income | £10,000 |
| Availability | Available to existing customers |
The smile Classic Credit Card is issued on the Visa network (used by a whopping 4.2 billion cards), so you'll be able to use it at more than 100 million merchant locations across more than 200 countries and territories.
Find out which cards you are eligible for
- Check a range of cards in minutes
- No impact on your credit score
- One fast and simple form
How does it compare with other cashback deals?
Table: sorted by representative APR, promoted deals first
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.
Repayment options
You can make manual repayments through Smile's app by logging in to your online banking or over the phone (0345 600 6000). 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 (£10) 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're an existing Smile customer and you've compared cards and settled on the smile Classic 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 smile Classic Credit Card?
If Smile is able to offer you this deal, the offer will specify a personalised credit limit based on Smile's assessment of your situation. The minimum limit offered on this card is £200 and Smile does not specify a maximum. Once you've had the card for a while and shown Smile that you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the smile Classic 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 smile Classic Credit Card is 3% (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 £7.50.
The interest rate on this part of your balance will be 27.9%, which is 40% 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 smile Classic Credit Card abroad?
Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£173.19), it'll cost you around £4.76 in fees.
What is the minimum payment on the smile Classic Credit Card?
Each month you must pay at least 2% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £225.00 outstanding, you'd pay £5.00, and if you had £1,000.00 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.
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Our experts score cashback credit cards to determine their value against similar products on the market. We look at a number of important factors, like welcome bonuses, introductory and ongoing earn-rates, any limits or restrictions to earning cashback, 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.
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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.
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