What must a lender tell me before I agree to a credit card in the United Kingdom?

MoneyHelper says that, by law, a lender must tell you the total you will repay, how much you will pay each month, the interest rates, any fees or charges, and the APR before you agree. That information should be on the provider's website and in the pre-contract credit information form. The lender must explain the main terms before you sign. For a credit card, those figures are based on assumptions about how you will use the card. APR is the yearly cost of borrowing. It includes the interest rate and any arrangement fees. The page says to check the terms for fees such as a late payment, a default, or a settlement charge. It also says paying the whole bill each month avoids interest. A cash withdrawal usually costs a fee of around 2% to 3%, plus interest. The page gives 22% as the average interest rate charged on a credit card. That figure is the page's average, not a rate you will be offered. This page does not pick a card.

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