Smile Gold Credit Card review 2020
An everyday credit card for existing Smile or Co-operative Bank customers.
Finder rating: ★★★★★
Doing its job: 2.5/5
In a nutshell:
Balance transfer fee
Up to 56 days
Interest-free each billing period
|Issuer||The Co-operative Bank|
|Balance transfer fee||0%|
|Purchases interest-free period||Up to 56 days|
|Min credit limit||£300|
|Max 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.
There isn’t a lot to say about this no-frills credit card. If you already have a Co-operative Bank or a smile current account and you don’t want to waste your time looking for alternative deals, you could consider it.
There’s no monthly or annual fee to worry about. The rate is neither the best nor the worst you can find, so ideally you want to clear your balance in full and on time each billing cycle.
If you do, you will be able to take advantage of up to 56 days of 0% interest on your purchases.
Approval for this card will, as usual, depend on your credit score; but smile says that if you are approved, you will get exactly the rate advertised, which is a refreshing approach compared to other providers.
Realistically, if you have a specific purpose in mind, such as spreading the cost of an upcoming expenditure, or minimising the amount of interest you’re paying on existing card debt, there’s likely to be cheaper options out there.
There are also no extra rewards or perks to make this card look a little bit less dull. But, hey, it does the job, and if you’re after a very simple but effective card, it could be worth a closer look.
Pros and cons
- No annual fee
- Minimum annual income requirement of £10,000
- Applicants with low credit scores are unlikely to be eligible
- Only available to existing customers
How does this card compare with other similar cards on the market?
When it comes to repayments, you can make manual repayments online or over the phone (0345 600 6000), 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 smile Gold Credit Card
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.