As with most credit builder cards, the Zempler Bank (formerly Cashplus) Credit Card’s 39.9% rate on purchases means you absolutely want to use this card responsibly and avoid carrying a balance from month to month. However, provided you do pay your bill in full and on time, you’ll get a decent level of flexibility – up to 56 days of 0% interest on your purchases each billing cycle.
Other appealing features of this card include the lack of an annual fee and the smart mobile app.
Digital banking company Zempler Bank offers a solid credit builder credit card to people whose credit score makes it difficult to be accepted for other kinds of credit – whether they have bad credit or because it’s the first time they’re borrowing money.
| Issuer | APS Financial Ltd |
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Minimum credit limit | £100 |
| Maximum credit limit | Subject to status: £3,000 |
| Credit limit note | Linked to primary cardholder limit |
| Purchases | 39.94% |
| Purchases interest-free period (days) | 56 |
| Additional cards available | 4 |
| Potential costs | 7.4Great |
| Doing its job | 7.2Great |
| Extras | 8.1Great |
| Overall Finder Score | 7.6Great |
| Minimum monthly payment | 3% or £10 (whichever is greater) or the total of any interest, default fees and charges plus 3% of the outstanding balance. |
| Annual/monthly fees | £0 |
| Foreign usage charge (EU) | 2.99% |
| Foreign usage charge (rest of world) | 2.99% |
| Cash advance fee | 3% (min. £3) |
| Late payment fee | £12 |
| Duplicate statement fee | £0 |
| Exceeding limit fee | £12 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
| Minimum Age | 18 |
| Minimum income | £15,000 |
| Availability | Available to new customers |
The Zempler Credit Card (formerly Cashplus) is issued on the Mastercard network, so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.
To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
Read the full methodologyTo make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
Read the full methodologyApproval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.
You can make manual repayments through Zempler's app by logging in to your online banking or over the phone (0330 024 0924). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and damaging your credit score – making it harder and more expensive to borrow money in the future – and getting hit with a penalty fee (£12) 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.
| Minimum amount | |
|---|---|
| Fixed amount | |
| Fixed percentage | |
| Full amount |
You can't currently apply online for the new Zempler credit card, however you can apply for a Zempler Bank account.
If Zempler offers you this deal, it will specify a personalised credit limit based on Zempler's assessment of your situation. The minimum limit offered on the card is £100, while the maximum is £3,000. Once you've had the card for a while and shown Zempler you're reliable, you may wish to apply for a credit limit increase.
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Zempler Credit Card (formerly Cashplus) is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a fee of £7.50.
The interest rate on this part of your balance will be 49.94%, which is 25% more than the standard purchase rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (£164.83), it'll cost you around £4.93 in fees.
Each month, you must pay at least 3% of your balance at that point or £10.00 – whichever of the 2 figures is greater. So if you had, say, £316.67 outstanding, you'd pay £10.00, and if you had £1,333.33 outstanding, you'd pay £40.00.
Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money, which can lead to persistent debt.