You may be offered a different credit limit, representative APR, purchase rate or promotional Balance Transfer period to any shown here as it depends on your individual circumstances. Subject to status
If you’re looking for your first credit card, or your credit history isn’t great, our award-winning Barclaycard Initial could be the card for you.
It’s important to understand how credit cards work, especially if you’re new to credit. So make sure you’re up to speed on the types of fees we may charge and how promotional rates work and what you need to do to keep them.
If you decide to apply, please make sure you read the information provided once you’ve clicked the 'Apply now' button. It provides important information about how interest is charged and how to manage your account.Apply now
If you make at least your minimum payments on time and stay within your credit limit for the first 12 months of opening your account we’ll reduce your interest rates you're charged. If you ever have problems meeting your minimum payments please give us a call. We can then see if there’s any way that we can help and avoid the negative impact this could have on your rating.
Built in text alerts
With Initial you’ll get alerts to let you know when your balance is due. There’s other alerts you can turn on and off at any time, like weekly balance updates.
Help to make sure you pay on time
You can choose a payment date when you’re more likely to have money in the bank and there's a couple of options when it comes to setting up a Direct Debit.
Minimum amount – this helps avoid paying late payment fees but only meets the minimum requirement. It won’t help in the long run unless you’re making additional payments, especially if you continue to use your card. That’s because you could end up paying more in interest than towards the amount you’ve borrowed.
Fixed amount – Decide how much you can afford to pay and set your monthly Direct Debit for that amount. If it falls below the minimum amount, we’ll increase it to ensure you don’t get charged a fee. It’s a good idea to review the fixed amount every few months to make sure it’s meeting your needs.
Full amount – This is the best option if you can afford to do it as it limits the amount of interest you pay.
It’s important to stay within your credit limit
Initial comes with a personalised credit limit based on what you can afford. Going over your credit limit not only means a £12 fee but it’ll also impact your credit rating. You can set up alerts to let you know when you're getting near to your credit limit so you can either make a payment or slow down on the spending.
Remember: to keep your 0% rate for 6 months, you’ll need to make your minimum payments on time and stay within your credit limit. Otherwise your 0% rate will go up to the standard rate, which is also the rate you'll pay when your promotional period has ended.