Danske Bank Standard Mastercard review
- Representative example:
- When you spend £1,200 at a purchase rate of 22.85% (variable) p.a., your representative rate is 22.9% APR (variable).
- Balance transfer fee
- 0%
- Account fee
- £0
- 0% interest on balance transfers
- 5 months
Our verdict
The straightforward credit card for existing Danske Bank customers that's, well... a bit standard.With its biggest selling point being its simplicity (there's a single rate of interest applicable for all repayments), this card might appeal to those purely seeking a bit of payment flexibility each month.
Provided you don't carry a balance from month to month, you'll enjoy up to 59 days of 0% interest on your purchases each billing cycle. So if you buy something at the start of the billing cycle, you can pay it off at the end of the cycle, without having to pay for the privilege. However, this doesn't apply to cash advances (that's when you withdraw cash using your card).
Realistically, if you have a specific purpose in mind, such as spreading the cost of an upcoming expenditure or minimising the amount of interest you're paying on existing card debt, there are cheaper options out there.
If you already have an outstanding card debt with another bank, you could take advantage of this card's 5-month 0% balance transfer deal, and bring your balance across to get a break from interest. Remember that if you don't clear your balance in full within the 5 months, any outstanding balance will start to accrue interest at the card's standard rate.
Pros
- No balance transfer fee
- No annual fee
Cons
- Applicants with low credit scores are unlikely to be eligible
- You may be offered an opening credit limit as low as £250
Details
Product Overview
| Issuer | Danske Bank |
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 0% for 5 months reverting to 22.85% |
| Balance transfer fee | 0% |
| Purchases | 0% for 5 months reverting to 22.85% |
| Purchases interest-free period | Up to 59 days |
| Cash advances | 22.85% |
| Minimum credit limit | £250 |
| Maximum credit limit | Subject to status: £15,000 |
| Additional cards available | 3 |
Fees and charges
| Minimum monthly payment | 3% 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 | 0% |
| Foreign usage charge (EU) | 2.75% |
| Foreign usage charge (rest of world) | 2.75% |
| Cash advance fee | 2.75% (min. £2.75) |
| Late payment fee | £8 |
| Replacement card fee | £0 |
| Duplicate statement fee | £5 |
| Exceeding limit fee | £0 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application Requirements
| Minimum Age | 18 |
| Availability | Available to new customers |
As this card is on the Mastercard network, it’s accepted in more than 40 million locations worldwide. You’ll also be able to enjoy access to Priceless Cities experiences.
How does this card compare with other similar cards on the market?
Finder Score for credit cards
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 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.
Repayment options
You can make manual repayments through Danske Bank's app by logging in to your online banking or over the phone (0800 660033). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£8) or losing any promotional rates as a result. You could use a fixed-amount direct debit to ensure you've cleared your debt before the 0% period expires – simply divide your outstanding balance by 5 to see what you'll need to pay each month (this assumes you don't use the card for additional spending).
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 for the Danske Bank Mastercard Standard
If you have compared cards and want to apply, completing the secure online application form takes about 15 minutes. Existing customers can simply log in to eBanking to access the form.
Frequently asked questions
What credit limit will I get with the Danske Bank Standard Mastercard?
If Danske Bank offers you this deal, it will specify a personalised credit limit based on Danske Bank's assessment of your situation. The minimum limit offered on the card is £250, while the maximum is £15,000. Once you've had the card for a while and shown Danske Bank you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Danske Bank Standard Mastercard?
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 Danske Bank Standard Mastercard is 2.75% (min. £2.75). For example, if you withdraw £50, you'll incur a fee of £2.75. Withdraw £250 and you'll incur a fee of £6.88.
The interest rate on this part of your balance will be 22.85% (chargeable from the day of the transaction – the card's usual "up to 59 days interest-free" grace period won't apply).
How much does it cost to use the Danske Bank Standard Mastercard abroad?
Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£164.83), it'll cost you around £4.53 in fees.
What is the minimum payment on the Danske Bank Standard Mastercard?
Each month, you must pay at least 3% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £150.00 outstanding, you'd pay £5.00, and if you had £666.67 outstanding, you'd pay £20.00.
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.
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