With the deferred revolving payment, you can pay a fixed amount each month or a percentage of your card bill. This payment method charges interest.
- Interest rate: 17.52%.
- Credit limit: €1,500.
- Yearly credit card issue and maintenance fee starting the second year: €43. See if your account contract allows you to waive this fee.
The monthly payment settlement date is the 20th of each month, but if you have chosen to pay the bill on the 5th and you opted for the deferred payment, you will have to pay interest from the settlement date until the payment date.
The minimum monthly amount is €12, and you can choose any higher amount.
The payment chosen is used to pay the interest and agreed expenses first, and then to repay the loan or the balance you draw down. Because of this, selecting lower payments could lead to a smaller proportion of the principal being repaid every month.
Once you take out the card, you can use both the BBVA app and bbva.es to calculate the repayment period based on your chosen payment method, as well as the total interest payable, if any.
You can also use the revolving card simulator of the Bank of Spain to calculate the approximate total amount payable or the final payment date, based on the expense and the payment method selected.
Remember that you can change the payment method for your card whenever you want.
Deferred payment example revolving with fixed payment
If you make a purchase for €1,500 with an NIR of 17.52% and you choose to make a fixed monthly payment of €43.69, you would have to pay:
- 48 monthly payments of €43.69.
- The total amount payable will be €2,096.88 and the APR will be 18.99% (18.99% NDER).
This example complies with the information requirements of Order EHA/1718/2010, which governs and controls the advertising of banking services and products, the conditions of which may not correspond to those of the contract.
In the case of the Aqua Credit Card, keep in mind that the €43 issuance and maintenance fee (which the bank charges annually) and the minimum monthly repayment percentage (3%) mean that the 48 monthly payments will be different, even if you select a payment of €37.87.
So if you take out the card and that same day, for example, May 1, 2020, you make a purchase for your full credit limit and decide to pay the bill on the 5th of that month, this is what you would have to pay:
- 48 monthly payments of different amounts (including principal and interest).
- The total amount payable will be €2,191.33 and the APR will be 25.78% (18.99% NDER).
Remember that if you decide to pay the bill on the 5th of the month, you will have to pay interest from the settlement date until the payment date.
The fixed monthly payment may not be less than 3% of the amount spent, shown in the "Credit Card Account" statement before settlement, plus the interest generated during the corresponding monthly settlement period and the relevant fees.