If you have a question, we’ve almost certainly been asked before. Please have a look at this handy set of FAQs. Hopefully it will answer most of your burning queries!

HOW DOES THE GUARANTEED RATE CARD WORK?

The guaranteed rate card has one interest rate for purchases, cash, balance transfers, and money transfers. Uniquely, the credit card has an interest-free period on all transactions including cash withdrawals— all with zero fees!

This means that we will never charge you interest or fees if you pay your balance in full by the payment due date every month — even if you use your card for cash withdrawals and overseas spend.

If you pay an amount less than the full balance, then you'll be charged the same interest rate for all transactions.

HOW DOES THE INTEREST-FREE PERIOD WORK?

The interest free-period is a period of time in which no interest is charged on new transactions if you pay off the statement balance in full by the payment due date.

The number of interest-free days for each transaction depends on when you make the transaction within your statement cycle. Our guaranteed rate card comes with an interest-free period of up to 51 days. Each statement cycle runs for a maximum of 31 days, and there is then 20 days from when your statement cycle finishes to the payment due date (31 + 20 = 51).

The interest free period applies to all transactions including purchases, cash withdrawals, balance transfers and money transfers - both in the UK and overseas.

IF I PAY MY CREDIT CARD STATEMENT IN FULL AND ON TIME, WILL I BE CHARGED INTEREST OR FEES?

If you pay your statement balance in full each month, we’ll NEVER charge any interest or fees with the guaranteed rate card.

DO YOU CHARGE ANY HIDDEN FEES WITH THE GUARANTEED RATE CARD?

No, there are NO fees with the guaranteed rate card. None.
£0 – Annual or Monthly Fee
£0 – Cash Withdrawal Fee
£0 – Non-sterling Cash Transaction Fee
£0 – Non-sterling Transaction Fee
£0 – Balance Transfer Fee
£0 – Money Transfer Fee
£0 – Overlimit Fee
£0 – Late Payment Fee
£0 – Returned Payment Fee
£0 – Card Replacement Fee
£0 – Statement Reprint Fee
£0 – Tracing Fee

CAN THIS CARD HELP IMPROVE MY CREDIT RATING?

Yes! Making at least your monthly minimum payments will be reflected on your credit report. Conversely, failure to make monthly minimum payments or carrying a high balance on your credit card may have a negative impact on your credit rating.

WHAT IS THE DIFFERENCE BETWEEN APR AND SIMPLE INTEREST RATE

The simple interest rate is the interest rate that we use to work out how much interest you’ll be charged each month. You will find the simple interest rate in the ‘Interest Summary’ section of your statement.

APR is the Annual Percentage Rate. It determines the total cost of credit to you for one year, including interest and charges, based on borrowing and repaying £1,200 — or an amount equal to your credit limit. The APR takes into account interest you may pay on interest if you do not pay your statement balance in full each month.

APR is one way to directly compare the cost of borrowing between different credit cards.

HOW DOES THE SIMPLE MONTHLY FEE CARD WORK?

The simple monthly fee card has one fixed monthly fee and that’s it! There are no interest charges and no other fees. This means that you'll only be charged the same fixed monthly fee each month regardless of how you use your card.

DO YOU CHARGE ANY HIDDEN FEES OR INTEREST ON THE SIMPLE MONTHLY FEE CARD?

Apart from your fixed monthly subscription fee we will not charge you any other fees, charges or interest. This means you can use your card abroad, withdraw cash and transfer balances without ever worrying about additional fees or charges.
£0 – Cash Withdrawal Fee
£0 – Non-sterling Cash Transaction Fee
£0 – Non-sterling Transaction Fee
£0 – Balance Transfer Fee
£0 – Money Transfer Fee
£0 – Overlimit Fee
£0 – Late Payment Fee
£0 – Returned Payment Fee
£0 – Card Replacement Fee
£0 – Statement Reprint Fee
£0 – Tracing Fee

CAN THIS CARD HELP IMPROVE MY CREDIT RATING?

Yes! Making at least your monthly minimum payments will be reflected on your credit report. Conversely, failure to make monthly minimum payments or carrying a high balance on your credit card may have a negative impact on your credit rating.

IF I PAY MY CREDIT CARD STATEMENT IN FULL AND ON TIME, WILL I BE CHARGED THE MONTHLY FEE?

The monthly subscription fee is a fixed monthly charge designed to give customers a predictable, fixed, monthly cost of borrowing. This does mean that the monthly fee is charged even if you pay your balance in full or if you have a zero balance.

WHAT DOES APR MEAN?

APR is the Annual Percentage Rate. It determines the total cost of credit to you for one year, including interest and charges, based on borrowing and repaying £1,200 — or an amount equal to your credit limit.

APR is one way to directly compare the cost of borrowing between different credit cards. As a result, the true cost of borrowing may be less or more than the representative APR we display.

WHY DOES THE SIMPLE MONTHLY FEE CARD HAVE A REPRESENTATIVE APR? I THOUGHT YOU DID NOT CHARGE INTEREST?

We will never charge you any interest on your balance — that's one of the reasons why the simple monthly fee card is so unique. However, EU legislation requires all credit cards to show the APR to enable a like-for-like comparison.

HOW DO I APPLY?

You can apply online. You will have to provide information to help us decide whether a 118 118 Credit Card is suitable for you. If we accept you as a 118 118 Credit Card customer then we will ask you to read documents entitled ‘Important Information About Your Credit Card’ and ‘Pre-Contract Credit Information’. These give you important information about your 118 118 Credit Card. You should read them carefully and take time to consider whether this is the right credit card for you.

To obtain a 118 118 Credit Card, you must read the ‘Credit Card Agreement’ presented to you during the application process, and tick the box to accept and enter into the agreement — this is a way of signing the agreement electronically.

You can check your eligibility on the 118 118 Money website. Our eligibility check will tell you if you’re likely to be accepted for a 118 118 Credit Card without affecting your credit rating.

WHAT INFORMATION IS NEEDED TO CHECK MY ELIGIBILITY?

We’ll ask for your:

  • Name
  • Email address
  • Mobile phone number
  • Date of birth
  • Marital status
  • Current employment
  • Net monthly income
  • Outgoings
  • Home address

WHERE CAN I APPLY?

You can apply here.

CAN I APPLY FOR ANOTHER 118 118 CREDIT CARD IF I ALREADY HAVE ONE?

No, you may not have more than one 118 118 Credit Card.

DO I NEED TO SET UP A DIRECT DEBIT TO COMPLETE MY APPLICATION?

Although it is not required to complete your application, we encourage you to set up your Direct Debit during the application process. Setting up a Direct Debit is an easy way to ensure that you make your payments on time, which can help maintain good financial habits and improve your credit rating.

CAN I FIND OUT IF I AM ELIGIBLE FOR A 118 118 CREDIT CARD WITHOUT IT IMPACTING MY CREDIT RATING?

Yes. click here to complete an eligibility check and see if you are likely to be accepted for a 118 118 Credit Card. Completing the eligibility check will not affect your credit rating.

WILL YOU BE MAKING A CREDIT CHECK ON ME?

Not as part of the eligibility check, however, we’ll run a credit check when you choose to accept the 118 118 Credit Card — this is required. It’s also necessary to ensure that we do our part to make the best decision for you and for us.

Remember though, completing the eligibility check will not affect your credit rating.

CAN I APPLY OVER THE PHONE?

Sorry, but we don’t take telephone applications. You can apply directly here.

HOW DO YOU DECIDE IF MY APPLICATION IS SUCCESSFUL?

Application success for the 118 118 Credit Card is based on your credit profile and other publicly available information (e.g. electoral register, county court judgments). The better your credit profile the more likely you are to be accepted as a 118 118 Credit Card customer.

IF MY CREDIT CARD APPLICATION IS ACCEPTED, CAN I CHANGE MY MIND?

Of course – and we make it easy if that’s what you decide.

Starting from the day after you sign the agreement, you’ll have 14 days to withdraw from your Credit Agreement. Just let us know by writing to us at 118 118 Money, PO Box 10556, 51 Saffron Road, Wigston LE18 9FR or by calling us on 08000 118 222 or +44 2920 548176.*

You’ll need to pay back any balance on your account within 30 days (starting from the day after you tell us you want to withdraw) before we can close it. If your card account balance is zero, we can close the account and make sure your application does not appear on your credit file, putting you back in to the position you were in before you applied.

WHAT DOCUMENTATION WILL I RECEIVE ONCE MY CARD APPLICATION HAS BEEN ACCEPTED?

We will send you an electronic copy of your Credit Card Agreement.

IF MY APPLICATION IS APPROVED, HOW SOON WILL I RECEIVE MY CARD?

You should receive your 4-digit PIN and your card within 9-10 days. Your card and your PIN will be sent separately for security reasons.

WHAT SHOULD I DO IF I HAVEN’T RECEIVED MY CARD OR 4-DIGIT PIN?

You should receive your 4-digit PIN and card within 9-10 days of being accepted for the card. If you still haven’t received either of them after this time, call us immediately on 08000 118 222 or +44 2920 548176.*

WHAT ARE CREDIT CARD INTERMEDIARIES?

If you were referred to our website by someone else, you may have dealt with a credit intermediary (or their appointed representatives). If so, the credit intermediary involved may have been paid to introduce you to us and may have been one of the following:

  • Moneysupermarket.com which is a wholly owned subsidiary of Moneysupermarket.com Financial Group Limited of Moneysupermarket House, St David’s Park, Ewloe, Flintshire, CH5 3UZ; or
  • Quint Group Limited of Oxford House, Oxford Road, Macclesfield, Cheshire, SK11 8HS; or
  • Optimise Media (UK) Limited of Norfolk Tower, 48-52 Surrey Street, Norwich, Norfolk, NR1 3PA; or
  • Runpath Regulated Services Limited of White Collar Factory, 1 Old Street Yard, Ground and Mezzanine Floors, London, EC1Y 8AF; or
  • Clear Score Technology Limited of 47 Durham Street, London, United Kingdom, SE11 5JA; or
  • Dot Zinc Limited, which trades as Money.co.uk of 5 Copper Row, London, England, SE1 2LH; or
  • Experian Limited of The Sir John Peace Building, Experian Way, NG2 Business Park, Nottingham, NG80 1ZZ; or
  • Digitonomy Limited of Steam Mill Business Centre, Steam Mill Street, Chester, Cheshire, United Kingdom, CH3 5AN; or
  • Totally Money Limited of Chapter House, 16 Brunswick Place, N1 6DZ.

If you were referred to us by a credit intermediary, we recommend that you review the privacy policy on the intermediary’s web site for your rights under UK Data Protection Act 2018.

WHAT IS A BALANCE TRANSFER?

A balance transfer lets you use the credit available from your 118 118 Credit Card to pay off the balances on one or more other credit cards. You cannot transfer an amount higher than the available credit limit on your 118 118 Credit Card.

If you transfer a balance to a simple monthly fee card, you won't pay any additional interest or handling fees. You will only be charged your normal monthly subscription fee. This may work out to be a cheaper way to pay off your existing credit card balances.

If you transfer a balance to a guaranteed rate card, you won't pay any fees and will only be charged your normal interest rate — which is the same interest rate for purchases and cash withdrawals.

In all cases you must remember to continue to pay at least your minimum payment each month.

HOW DO I TRANSFER A BALANCE TO MY 118 118 CREDIT CARD?

You can transfer a balance by contacting us at 08000 118 222 or +44 2920 548176*. In some instances, you'll be able to request a balance transfer as part of the application form for a 118 118 Credit Card. You'll need to provide us with the credit card number and expiry date of the credit card from which you’re requesting a balance transfer, so please have this to hand.

HOW LONG WILL IT TAKE FOR A BALANCE TRANSFER TO COMPLETE?

Once your balance transfer request has been processed, payment will normally be received by your bank or card issuer by the end of the next working day. Sometimes it may take longer for your request to be processed if we receive it outside business hours (on a weekday after 4.30pm, and any-time on a weekend or bank holiday).

I USUALLY PAY THE BALANCE ON MY ACCOUNT IN FULL BY DIRECT DEBIT. WHAT HAPPENS IF I’VE REQUESTED A BALANCE TRANSFER?

If you currently pay your account in full by Direct Debit, you may want to update your account to pay either the minimum payment or another regular amount. Otherwise the Direct Debit will collect the full amount outstanding on your account including the balance transfer.

WHAT IS A DIRECT DEBIT?

Direct Debits are extremely useful as they help to make sure you don’t miss payments when they fall due on your account. A Direct Debit mandate allows us to collect regular monthly payments from your designated bank account. You can set up a Direct Debit via your online account or the 118 118 Money app.

HOW DO I MAKE A ONE-OFF PAYMENT TO MY ACCOUNT?

There are a number of ways to make a one-off payment. You can pay in the 118 118 Money app, through your online account, via Internet Banking or over the phone. Call us on 08000 118 222 or +44 2920 548176* and we’ll be happy to help with this.

WHAT SHOULD I DO IF I AM HAVING DIFFICULTY MAKING PAYMENTS?

If your circumstances change and you think this will affect your ability to pay back the amount you owe on your card, or you are already struggling to keep up with your Minimum Payments, please call us on 08000 118 222 or +44 2920 548176* so that we can work with you to agree a suitable repayment plan. It is better for you to contact us as soon as possible so that we can put something in place to help you.

WHEN I MAKE A PAYMENT, WHEN SHOULD I EXPECT TO SEE IT ON MY ACCOUNT?

Payments can take up to five working days to show. You can check online by logging into your account.

WHAT HAPPENS IF I FAIL TO MAKE A PAYMENT?

Don’t worry—we will never charge a missed payment fee! We do encourage you to make a payment or contact us to discuss your circumstances at your earliest convenience, as we will soon place a temporary hold on your card until a payment has been made. Since continuing to use your card while missing payments may adversely impact your credit score, we believe this is a good way to help you keep your account in good standing. If you continue to miss monthly payments, unpaid monthly subscription fees or interest charges will be added to the amount you owe us, and you will continue to be charged the monthly subscription fee or interest charges. This may be reflected on your credit report, which might make it harder for you to get credit in the future.

WHAT HAPPENS IF I GO OVERLIMIT?

We will not charge you any additional fees. However, we will temporarily block your card until you make the repayment to bring your balance down within your limit.

WHAT DO I DO IF MY CARD IS LOST OR STOLEN?

If your card has been lost or stolen you should call us straight away on 08000 118 600 or +44 2920 548200*, open 24 hours, 7 days a week.

HOW DO I CHANGE MY PIN?

You can change your PIN by using a cash machine. You can also order a new PIN by calling 08000 118 222 or +44 2920 548176.*

CAN I USE MY 118 118 CREDIT CARD TO WITHDRAW CASH?

Yes, you can use your card to withdraw cash at any cash machine that displays the Mastercard symbol. We will not charge you any fees for cash withdrawals (although certain cash machines may charge you for withdrawals).

HOW DO I OPT OUT OF RECEIVING NOTIFICATIONS ABOUT NEW PRODUCTS AND SERVICES?

You can opt out of receiving notifications by calling us on 08000 118 000 or 02920 893300*, or by following the unsubscribe options within any marketing SMS or emails you may have received.

CAN I MANAGE MY CARD ONLINE?

Yes, you can. You can check your balance, view previous statements and make payments either in the 118 118 Money App (Apple iTunes Store or Google Play Store) or alternatively by logging into the account management section of our website.

The 118 118 Money App is available to download for Android and iOS devices through Google Play and the App Store.

IF MY PERSONAL DETAILS CHANGE (FOR EXAMPLE, MY NAME HAS CHANGED OR I’VE MOVED HOUSE), THEN HOW DO I LET YOU KNOW?

You can update this by calling us on 08000 118 222 or +44 2920 548176.*

WHAT HAPPENS IF I FORGET MY PASSWORD OR NEED TO RESET IT?

Simply click ‘Forgot password?’ on the login screen of the 118 118 Money app and follow the prompts. We’ll send you a password reset code and easy-to-follow instructions.

WHAT IS MY VIRTUAL CARD?

Available on your 118 118 Money app, your virtual card gives you access to everything you need to make purchases online or over the phone—simply by answering a few security questions. You’ll still need your physical credit card for making purchases in person, but your virtual card will allow you to shop online or over the phone without your physical card.

CAN I ACCESS MY VIRTUAL CARD ON MY COMPUTER OR LAPTOP BROWSER?

No. At the moment, you can only access your virtual card from within the 118 118 Money app.

CAN I USE MY VIRTUAL CARD FOR CONTACTLESS PURCHASES?

No, your virtual card may only be used to make purchases online or over the phone.

CAN I USE MY 118 118 CREDIT CARD FOR CONTACTLESS TRANSACTIONS?

Yes, you can use your card for contactless transactions up to a maximum of £30 per transaction. We will require you to enter your PIN on some occasions to protect you against fraud.

HOW WILL I BE ABLE TO VIEW MY TRANSACTIONS AND STATEMENTS?

You can see your current balance, recent transaction history and previous statements either via the 118 118 Money app or by logging into your account on our website.

The 118 118 Money App is available to download for Android and iOS devices through Google Play and the App Store.

WHAT ARE PENDING TRANSACTIONS?

Pending transactions are authorised card transactions that have not been fully processed yet. Pending transactions will appear in your recent transaction history in the next few days.

HOW DO PENDING TRANSACTIONS AFFECT MY ACCOUNT BALANCE AND AVAILABLE CREDIT?

The balance does not include pending transactions, but the credit available amount will take into account any pending transactions on your account.

I DON’T RECOGNISE A TRANSACTION, WHAT SHOULD I DO?

You can view additional details by tapping on an individual transaction. If you’re still unsure about the transaction you should call us on 08000 118 222 or +44 2920 548176* and we can investigate this for you.

WHAT IS AUTHENTICATION?

Put simply, 'authentication' is an identity check. We are required by law to put in place measures to help protect you from unauthorised use of your card, this is called ‘Strong Customer Authentication’. It means that, for some transactions, you will be asked to provide two elements of identification from the following three options:

  • Knowledge: something only you know, such as a PIN or password.
  • Possession: something only you have, such as a mobile phone
  • Inherence: something unique to you, such as a fingerprint

WHY AM I BEING ASKED FOR AUTHENTICATION?

From time to time, you may be asked to provide the elements of identification above for certain purchases. We know that this may sometimes add an additional step to the purchasing process, but we take fraud prevention and protecting your money very seriously.

WHAT IF I AM HAVING TROUBLE WITH AUTHENTICATION?

If you are having trouble with authentication or completing a transaction, please call our customer support team on 08000 118 222 or +44 2920 548176* and we'll be happy to help!

WHEN CAN I MAKE A SECTION 75 CLAIM?

Section 75 of the Consumer Credit Act gives you an added layer of protection when making purchases with your 118 118 Credit Card for transactions over £100 but not over £30,000.

You can make a claim under Section 75 in either of the follow two circumstances;

  • Breach of contract: This is when you do not get what you have paid for, or the item is not up to the standard specified. An example of this is an item you have bought does not get delivered, or is not in the condition described when purchasing.
  • Misrepresentation: You are given the wrong information by the seller which convinces you to buy a product. This could be a pair of headphones you have bought after being told they would be compatible with your music player, but then find out this is not the case.
You cannot claim under section 75 if you have bought something and have then changed your mind.

HOW DO I MAKE A SECTION 75 CLAIM WITH 118 118 MONEY?

If you feel that you have experienced a breach of contract, or have had a purchase misrepresented by the seller then please get in contact with us using the following methods;

Write to us:
118 118 Money,
PO Box 10556,
51 Saffron Road,
Wigston LE18 9FR.

Call us:
You can call our Disputes Department who are open Monday to Friday 08:00 - 17:00 on 08000 118 777.

Please ensure you reference Section 75 in your communication, so that our team know that you are making a claim under this section.

WHAT INFORMATION DO YOU NEED FOR A SECTION 75 CLAIM?

When raising the dispute you should provide the following information to help us process the claim quicker;

  • The name of the retailer
  • The service or product you purchased
  • The purchase price
  • The date you made the purchase
  • What was wrong with the item purchased
  • Any communications you’ve had with the retailer about the purchase
  • Any evidence you have (photographs etc.)
We will look to keep you updated during the course of your claim, and we may contact you for further information.

CAN I TAKE OUT MORE THAN ONE 118 118 CREDIT CARD?

No, you are only able to have one 118 118 Credit Card at any one time.

WHAT ARE TRANSUNION AND EXPERIAN?

TransUnion and Experian are the credit reference agencies we use to carry out checks on an applicant’s credit history file.

We have provided their details below if you need to contact them directly:

TransUnion, One Park Lane, Leeds, LS3 1EP. Tel: 0330 024 7574, Consumer Enquiries: https://www.transunion.co.uk/contact-us/consumer-enquiries

Customer Support Centre, Experian Ltd, PO Box 9000, Nottingham NG80 7WP. Email: consumer.helpservice@uk.experian.com

HOW DO YOU PROTECT MY DATA?

Your data is safe with us. We maintain physical, electronic, and procedural safeguards to keep your personal information secure.

Your privacy and security are of the utmost importance to us. We’ll protect your privacy and your data in compliance with our Privacy Policy.

HOW ARE YOU REGULATED?

118 118 Money is a trading name of Madison CF UK Limited.

118 118 Money is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 741774). You can confirm our registration on the Financial Conduct Authority’s website www.fca.org.uk/register or by contacting the Financial Conduct Authority on 0800 1116768.

WHAT ARE YOUR CUSTOMER SERVICE OPENING HOURS?

Our Customer Service opening hours are 8am to 8pm, 7 days a week. Call us on 08000 118 222 or +44 2920 548176.*

WHERE CAN I GO FOR INDEPENDENT DEBT COUNSELLING ADVICE?

We would recommend seeking out an organisation offering free advice, including:

  • National Debtline: Is a free, confidential and independent phone helpline to help people with debt problems. You can call them on 0808 808 4000. (England, Wales, and Scotland only).
  • Advice UK: Is a network of independent advice-providing organisations. You can call them on 0300 7770107.
  • Citizens Advice: Is a network of local offices offering free, confidential, independent advice. If you live in England, Wales, or Northern Ireland, click here. If you live in Scotland, click here.
  • Step Change:  Is a debt counselling charity. You can call them on 0800 138 1111.

ARE YOU A MEMBER OF ANY TRADE BODIES?

We are members of the Finance and Leasing Association (FLA) which is a trade body for the asset, consumer and motor finance sectors in the UK. As members, we subscribe to the FLA’s lending code which sets out best practice in consumer lending. You can find a copy of the Code here: http://www.fla.org.uk/index.php/consumer-information/lending-code.

We are also members of UK Finance, the leading industry body for financial services in the UK.

*0800 numbers are free from UK landlines and mobiles. 02920 numbers are charged by your provider as a UK national number.