The opus card has been discontinued and is no longer available. However, this information has been kept for historical purposes. You can use this page to compare similar cards from other issuers.
opus card review
By Chris Lilly
- Representative example:
- When you spend £1,200 at a purchase rate of 39.95% (variable) p.a., your representative rate is 39.9% APR (variable).
- Minimum credit limit
- £250
- Interest-free each billing period
- Up to 48 days
- Account fee
- £0
Our verdict
This card is no longer available, but you can use our review to find alternatives.Using your credit card to withdraw cash is normally a bad idea – with most card issuers charging a fee and a higher rate of interest for the privilege.
The opus card aims to provide a way around this, by offering the facility to transfer money from your credit card to your bank account, giving you greater control over how you use your credit.
For example, say you're getting married and you need to pay various people in cash. You can use the opus card app to quickly and easily transfer funds from your card to your current account as and when you need to, and that could work out cheaper and easier than a cash advance (it certainly would on this card).
There are several catches, however.
There's a money transfer fee of 3% (min. £3) to consider. It's also worth noting that while, like most cards, the opus card won't charge you any interest at all on your purchases if you clear your balance in full each month, money transfers and cash advances (withdrawing cash from your card) are exempt from this. That means any funds you transfer out will start to accrue interest straightaway.
Finally, since it's designed to be accessible to those with less-than-perfect credit histories, the opus card also comes with relatively high rates of interest. What's more, rates are tailored to the applicant, meaning that you might be offered a different (higher) rate than those advertised. Credit limits are also tailored to the applicant.
Pros
- Applicants with low credit scores may be eligible
- No annual fee
Cons
- As with most credit builders, this card packs a fairly steep interest rate on purchases
- A punishing interest rate of 49.95% on cash withdrawals
- A punishing fee of 5% on cash withdrawals (you should avoid using a credit card to withdraw cash in any case)
- You may be offered an opening credit limit as low as £250
Details
Product Overview
| Issuer | NewDay Ltd |
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 39.95% |
| Balance transfer fee | 3% (min. £3) |
| Purchases | 39.95% |
| Purchases interest-free period | Up to 48 days |
| Money transfers | 39.95% |
| Cash advances | 49.95% |
| Minimum credit limit | £250 |
| Maximum credit limit | Subject to status: £1,200 |
| Additional cards available | 3 |
| Potential costs | 3.5 ★★★★★ |
| Doing its job | 2.0 ★★★★★ |
| Extras | 4.0 ★★★★★ |
| Overall Finder Score | 3.5 ★★★★★ |
Fees and charges
| Minimum monthly payment | 1% or £5 (whichever is greater) or the total of any interest, default fees and charges plus 1% of the outstanding balance. |
| Annual/monthly fees | £0 |
| Balance transfer fee | 3% (min. £3) |
| Money transfer fee | 3% (min. £3) |
| Foreign usage charge (EU) | 2.95% |
| Foreign usage charge (rest of world) | 2.95% |
| Cash advance fee | 5% (min. £4) |
| Late payment fee | £12 |
| Exceeding limit fee | £12 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application Requirements
| Minimum Age | 18 |
| Minimum income | £5,000 |
| Availability | Available to new customers |
As this card is on the Mastercard network, it’s accepted at more than 40 million locations worldwide. You’ll also be able to enjoy access to Priceless Cities experiences.
Other credit builders
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Approval 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.
Repayment options
You can make manual repayments through NewDay Ltd's app by logging in to your online banking or over the phone (0333 414 1077). 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.
Choose from the following direct debit options for your monthly repayments:
| Minimum amount | Fixed amount | Fixed percentage | Full amount |
|---|---|---|---|
How to apply
Sorry – NewDay Ltd is no longer accepting applications for this card. However you may wish to consider one of the alternatives listed above.
Frequently asked questions
Finder credit card scores
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts score credit builder credit cards to determine their value against similar products on the market. We look at a number of important factors, like interest rates, credit limits, features to help you track your credit, plus the potential costs involved with running the card both in the short and longer term.
You can read more about our scoring criteria on our credit card methodology page.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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