We know that a credit card is the best option for cashless payments. If you are looking for a credit card that offers easy rewards, valuable discounts, and a range of features designed to improve your financial lifestyle,. The Smile Classic Credit Card is the one for you. Think about
This card is specially designed to give people more benefits from each swipe. In this guide, we will take you in-depth about everything you need to know about the Smile Classic Credit Card—from its great benefits to practical tips for maximising its value.
What is the Smile Classic Credit Card?
Smile Classic Credit Card is designed to serve the needs of those who prefer simplicity and want to benefit from reward-driven spending. The card is designed to offer a holistic experience to lure everyday users along with frequent shoppers with its competitive reward points, cashback options and other exclusive discounts. Designed to have you smiling with every transaction, whether it be for an everyday purchase or for an occasional splurge.
What is The Feature of the Smile Classic Credit Card?
The Smile Classic Credit Card is packed with features to make it easy to spend and get rewards. Here’s what you can expect:
Preferential Interest Rate: 19.9% APR for purchases and balance transfers if you’re signed up to a Smile Current Account Don’t have a current account? The normal APR on acquisitions and balance transfers is 23.9%
Purchases Cashback: Get 0.25% cashback on your everyday use purchases and have a bit more automatically in your pocket after every swipe.
Zero Fees: There’s no annual fee and no balance transfer fee, making this card a great choice if you’re looking to save on hidden costs.
Flexible Credit Limit: With a minimum credit limit of £200, the Smile Classic Credit Card is accessible for a wide range of budgets
No Surprise Rates: When you apply and your application is accepted, you’re getting exactly the exact rate and offer that you saw in the advertising.
Simplicity In Managing Accounts: View your recent transactions in the online banking platform or mobile application of Smile, giving you transparency on your spending.
Fraud Protection: With the strong fraud protection from Smile, sleep well at night. Smile will make things right for you, footing the bill and getting your costs back to you on the off chance that another person fraudulently utilizes your card data.
Worldwide Acceptance: With your Smile Classic Credit Card, you can conveniently shop at over 22 million global outlets and withdraw cash from any Visa ATM.
Combining rewards savings, flexibility and security, this credit card from Smile is a great option if you are looking to increase your purchasing power both at home and abroad.
What is The Smile Classic Credit CardFees and Charges?
Here is a summary of the Smile Classic Credit Card fees and charges so you know what to expect with each type of transaction:
Annual Fee
There’s no annual fee for holding this credit card—no hidden costs here
Balance Transfer Fee
Fee-Free Transfers — it is the zero charge for transferring your balance. Balance transfer options are available for up to 95% of your credit limit (minimum £100) but balance transfers from other Smile or Co-operative Bank credit cards are excluded
For Cash and Cash-Related Transactions :
For transactions involving cash and cash alternatives: A fee of 3% of the amount withdrawn (minimum charge of £3) for cash withdrawal, foreign currency purchases, traveller’s cheque purchase, or gambling transaction.
Interest:
No interest-free period on cash withdrawals and a 27.9% APR interest rate is applied.
Duplicate Statement Fee
Need a Statement Copy? : If you order a copy of an old statement, it costs £2.50 per statement, a maximum £10 for such a request.
Late or Missed Payment Fee
Stay on Track: £10 for each late or missed payment
Exceeding Credit Limit Fee
Over Limit: This will cost you £10 for every month you go over your credit limit until the balance is back within your agreed limit. If your card is beyond its limit, you cannot use it again and again under no circumstances; the limit if always over the limit, blocking the card.
Returned Payment Fee
Payment Problems: If a payment fails (due to effects such as a bounced cheque or having insufficient funds), there is a fee of £10 for each failed payment.
Foreign Usage Charges
Currency Conversion: If you use your card for foreign currency purchases or cash withdrawals, then there is a 2.75% currency conversion fee This transaction is converted to sterling using the Visa Scheme Exchange Rate.
Overseas Cash Fee: In addition to the currency conversion charge, there’s an additional 3% fee (minimum £3) on the cash taken outside the UK when you use your card to withdraw cash abroad.
This straightforward fee structure helps you track anticipated fees for uses of your Smile Classic Credit Card, whether domestically or internationally.
How to Manage Repayments for Smile Classic Card
Paying off your credit card bills on time can help you save money in the long run as it will ensure that no additional interest is accumulated. If you have a Smile Classic credit card, here is how you can manage repayments in the best way, pay less interest and keep your finances under control.
Full Payments To Reduce Interest
The simplest way to reduce interest expenditure is by using direct debit to clear your entire balance every month. So, to avoid paying interest charges on purchases, you need to pay off your balance in full by the due date — which is 25 days after your statement date. Note that cash advances, payments that involve cash, or balance transfers start accruing interest immediately, so it’s best to pay those off quickly.
The Concept of Minimum Repayments
Smile Classic features a flexible minimum repayment you only have to pay it off in full if you can. This is how minimum amount due is calculated.
— 2% of Your Statement Balance: This is added to interest & fees on your account.
If 2% of your balance is lower than £5, the minimum you will pay is £5.
One percent of Your Last Statement Balance Plus Charges:** This option consists of one percent of your last balance, interest for the period, and any other fees incurred. Minimum repayment is always rounded up to the next pound.
If it’s under £5, then you will have to pay it all back.
How Minimum payments affect you
Although it’s okay to make only the minimum payments, be aware that this actually delays your repayment timetable and incurs more costs due to interest in the long run. Pay more than the minimum each month when you can — to cut your interest costs and pay off your balance faster.
Pros and Cons
| Pros | Cons |
| It is free of a treaty, hence, it is an economical option and if you wish to stealthy fees, this might be your destiny. | Interest on cash withdrawals starts from the date of the transaction, meaning there’s no interest-free period, and the higher 27.9% APR will make cash transactions expensive. |
| So on every purchase, you gain 0.25% cash back, a little mini treat for every swipe. | Cash advances and some other transactions (such as foreign currency purchases, traveller’s cheques and gambling) are subject to a 3% fee. |
| You can even do a balance transfer without a fee, which can be useful if you are consolidating debt. | Expensive overseas — there is also a 2.75% foreign please trifle charge on foreign keeps, with a further 3% in height on cash withdrawals – so not ideal for frequent globe -trotters |
| As one of the customers of the Smile Current account, you receive a lower purchase and balance transfer rate of 19.9% APR. | Late payment (£10), exceeding your credit limit (£10 per month till paid off) and returned payments (£10) incur fees which — if treated lightly — can be heavy. |
| With Smile, the rate you see is the rate you get — no surprises. | You have to pay £2.50 per copy up to £10 to request a duplicate statement and this can be pretty annoying for people who need recurring documents. |
| Robust fraud protection ensures peace of mind and protection from losses due to unauthorized transactions. | Balance transfers have no fee but can not be made from other Smile or Co-operative Bank credit cards, restricting flexibility. |
| With a starting price of just £200, the card covers a wide spectrum of financial needs, allowing you to adjust your spending accordingly. | |
| Shop easily at home and abroad, with over 22 million outlets worldwide; and Visa ATM withdrawals. | |
| Smile provides clear simple transactions, with the ability to track your transactions online easily on their platforms or mobile. |
Key Details About the Smile Classic Credit Card
Eligibility for a Preferential Rate
To access the 19.9% per annum (variable) rate on purchases and balance transfers, you must hold a Smile current account. If you don’t have one, you can apply, and if accepted, the preferential rate will automatically apply. Only the main cardholder needs to have a Smile current account for this benefit; additional cardholders aren’t required to.
standard Rate
If you don’t have or close your Smile current account, the interest rate switches to the standard 23.9% per annum on purchases and balance transfers.
Cash Advances
– Cash advances come with a 3% transaction fee (minimum £3 per transaction).
– Interest on cash withdrawals is 27.9% per annum.
– Note: No cashback rewards are earned on cash withdrawals, currency, Travelers Cheques, or balance transfers.
Balance Transfers
You can transfer up to 95% of your credit limit (minimum of £100). However, you cannot transfer balances from another Smile or Co-operative Bank credit card.
Rate Changes
If there’s a change to our rates, you’ll see it reflected in your monthly statement.
