Bank of Scotland All in One Credit Card

Bank of Scotland credit card review: All in One

ONE of the biggest problems with offer-heavy credit cards is that using the promotional rates while spending can lead to extra interest as payments are applied to the transactions with the lowest interest rates first.

The Bank of Scotland All in One credit card neatly solves that with two 0% offers of the same length.

As a result, the card is suitable for both paying off a high-interest credit card balance from elsewhere and for spending - for the first 10 months in any case.

Balance transfers must be made within 90 days of you opening your credit card account to enjoy the 0% rate. There's a fee of 3% of the transferred balance but this is a fairly standard fee.

The Bank of Scotland All in One credit card also offers extra protection against being made liable for online fraud and active fraud monitoring of your account.

In all, it's a solid all-rounder of a credit card, ideal for everyday use.

Read on below for some more tips on getting the most out of the Bank of Scotland All in One credit card.

Interest Rates and Fees
		Notes..
Typical APR	15.9% APR (variable)	The typical rate most people will receive is 15.9% APR (variable), but you may be given a rate of 19.9% APR (variable) or 21.9% APR (variable) depending upon an assessment of your circumstances. In any month where interest is incurred between 1p and 50p, you will be charged a minimum of 50p instead. The typical APR is the rate most people are offered.
Introductory Purchases	0% for 10 months	Payments are applied towards the lowest rate balances, such as promotional rates, first.
Balance Transfers	0% for 10 months	Balances must be transferred within 90 days of account opening to qualify. Payments are applied towards the lowest rate balances first, such as promotional rates.
Balance Transfer Fee	3% (£3 minimum)	-
Cash Withdrawal Rate	27.95% p.a. (variable)	-
Cash Withdrawal Fee	3% (£3 minimum)	-
Annual Fee	None	-
Foreign Transaction Fee	2.95%	This fee will be charged if you make a purchase or cash withdrawal in a foreign currency.

Cardholder Services & Extras
Online Account Management		You can log in to the Bank of Scotland web site and manage your Bank of Scotland All in One credit card account online.
Internet Fraud Guarantee		As long as you follow the precautions, you won't be held liable for any online banking activity you haven't authorised.
Fraud Monitoring
Identity Protection
MasterCard SecureCode		An extra layer of security when shopping online. Register and set up a password-protected identity-check when you shop online with participating online retailers.
Purchase Protection Insurance
Purchase Delivery Insurance
Comprehensive Travel Insurance
Travel Accident Insurance
Travel Inconvenience Insurance
Assistance Abroad
Emergency Card Replacement
Other Extras	- Card replacement if lost - Additional cards available for family members over 18 years old.
Optional Extras	These are extras that you can choose, but you will have to pay for them. - Identitycare - Repayment cover - Card protection.

Payments & Payment Details
		Notes..
Credit Limit	£500 minimum	Maximum credit limit is subject to status.
Interest Free Period	Up to 59 days	Actual interest free period will be displayed on your statement. The interest free period is for purchases if you pay the balance in full and on time. There is no interest free period on balance transfers, cheques or cash advances.
Minimum Monthly Payment	1% (£5 minimum)	If your balance is less than £5 then you must repay the full amount. If the balance is £5 or more, you must repay the greater of: - 1% of the outstanding balance, OR - The total of any insurance premiums, plus any interest (or the minimum interest charge), any overlimit or late payment fees, plus £5.
Allocation of Payments	Low interest rate balances » Higher interest rate balances (default sums » balance transfers » purchases » cheques » cash advances).	If you do not pay off your statement balance in full, your payment will be applied first towards balances where no interest is charged, then those at lower rates before those at higher rates. Where two balances are charged at the same rate of interest, your payment will be applied to transactions in the following order: default sums, balance transfers, purchases, cheques and then cash advances.
Default Charges	£12	This is how much you will be charged for late payments, returned payments and if you go over your credit limit.
Copy of Statement Fee	£5	This is the fee you will be charged for duplicate statements.

Card Details
		Notes..
Online Application	Yes	Remember: always ensure you meet the application requirements before applying, as getting rejected can affect your credit score.
Card Type	Classic	-
Payment Company	MasterCard	The company who provides the payment technology and infrastructure to allow you to use this credit card. Retailers and ATM machines displaying the 'MasterCard' logo will accept this credit card.
Card Issuer	HBOS	The bank who issues this credit card.
Card Advertiser	Bank of Scotland	The company who advertises and promotes this credit card.

Review Continued...

The Bank of Scotland All in One credit card may not be reaching for the stars but with two decent 0% offers and some solid fraud protection it's not in the gutter either.

0% Offers

The Bank of Scotland All in One credit card offers two 0% offers of the same length: one on balance transfers and one on purchases.

Neither are the longest rates around but, especially if you a specific task in mind, they should be more than enough to spread out costs and banish high APRs you're paying on other credit cards.

You can transfer a balance when you make your application for the Bank of Scotland All in One credit card online, much the easiest way to do do.

However, if you'd prefer to do it later you have 90 days to take advantage of that 0% rate from your account opening. In that case you can transfer online, by phone or through the post.

Note that any balance you move will be charged a handling fee of 3% of the balance you're moving so include that when you budget for how much you need to pay back per month.

The purchases rate is much simpler to activate: it applies as soon as you get your card and start spending.

Note that, unlike other 0% balance transfer credit cards, the 0% purchases rate makes the Bank of Scotland All in One credit card suitable for both spending and getting rid of high interest payments.

However, you should still avoid other high-interest transactions.

High-interest transactions

Cash advances and foreign transactions are the high-interest transactions in question with the Bank of Scotland All in One credit card.

Withdrawing any cash (whether at an ATM, bank or Post Office or as cash back at the checkout) will land you paying a higher interest rate without an interest-free period and, if you're using a 0% offer, you won't be able to pay this back until you pay back your balance in full.

In a word: avoid.

Note that cash advance transactions also include buying foreign currency or traveller's cheques and gambling transactions (including any spending at a gambling establishment).

Fraud security

The Bank of Scotland All in One credit card offers a number of fraud security measures.

Like many credit card providers, Bank of Scotland practice active fraud monitoring so they'll contact you if they think there's any fraudulent activity on your account.

However, this means it's worth letting them know if you're going abroad.

When shopping online you'll be protected by MasterCard SecureCode as well a no-liability internet fraud guarantee.

Final Word

The Bank of Scotland All in One credit card is a real flexible friend: you can use it for clearing high interest balances just as easily as for spending.

Apply Online for Bank of Scotland All in One credit card »