Iberia Classic Card

With the Iberia Classic Card, you can buy whatever you need and get flexible payment terms. Select the payment method you want and change it at any time.

• Full payment: pay your monthly credit card bill on the 5th of the following month.
• Deferred payment revolving: pay a fixed amount or a percentage of the bill on the 5th of the following month, both with interest. 

The personalized revolving payment lets you defer your monthly card payment or any purchase from €50. You can choose from 3 to 6 months (no fee) or from 7 to 36 months (with interest). Calculate your payment in the app or at bbva.es.

In partnership with Mapfre, the Iberia Classic Card offers:

• Accident insurance of up to €360,600.
  
• Travel insurance of up to €6,000.

See details

• Set your own limits

You can set up limits for using your card to give you better control over your expenses by setting a daily ATM cash withdrawal limit or placing limits on your purchases at physical or online stores. In any case, the prior authorization of BBVA is required.

• Check the balance and transactions of your Iberia Classic Card
  

Whenever you pay or withdraw cash at an ATM, we will send you a notification via the BBVA app so you can review your daily spending and make sure that only you are using the card.

• Turn the card on or off whenever you want
  

If you ever need to, you will be able to temporarily block your card, or cancel it completely, by simply going into the BBVA app or at BBVA.es.

• Security at ATMs
  

If you're robbed at an ATM, the insurance on the Iberia Classic Card will cover up to €600 per event, up to a maximum of €1,200 per card per year.

See insurance terms and conditions

To access the Iberia Classic Card you must meet the following requirements: 

• Having an account at BBVA.

• The granting of the Iberia Classic Card is subject to approval by BBVA.

With the personalized payment revolving, you can defer the payment of any purchase made with the card or the monthly amount owed, provided this amount is at least €50. 

The monthly payments will be for a fixed amount (which includes principal and interest if it is a personalized payment with interest, or principal and fees if it is a personalized payment with fee) and will depend on the term you choose, from a minimum of 3 months to a maximum of 36 months. This amount will be charged to the account on the 5th of each month.

The first payment in both cases is different: 

• For a personalized payment with interest, it only includes interest.
• For a personalized payment with fee, a deferral fee is also included.

Once you take out the card, you can use both the BBVA app and bbva.es to calculate your monthly payment based on the repayment period you choose.

Personalized payment example revolving with interest:

• Interest rate: 18% annually.
• Credit limit: €1,500. 
• Annual credit card issuance and maintenance fee: €45. 

You sign up for the Iberia Classic Card with a limit of €1,500. That same day, for example, May 1, you make a purchase for the same amount and choose to defer it over 12 months. This is what you would have to pay: 

• The first installment will be for €67.19, which includes only interest and the annual credit card issuance and maintenance fee, which is €45.
• The next 11 installments will be for €148.94 each.
• The total amount payable will be €1,705.53 and the APR will be 26.05%,19.56% NDER.

Personalized payment example revolving with fee:

• Deferral fee: 2.9%, 3.6% 4.3% or 5% of the amount financed, depending on the period chosen (3, 4, 5 or 6 months). 
• Credit limit €1,500. 
• Yearly credit card issue and maintenance fee: €45.

Below are some examples of personalized 3-to-6-month revolving payment methods with a fee. The NIR is 0% in every case

You sign up for the Iberia Classic Card with a limit of €1,500.  That same day, for example, May 1, you make a purchase for the same amount and choose to defer it over 6 months. This is what you would have to pay: 

• The first installment will be for €370 and includes part of the principal, the deferral management fee, which is 5% of the amount financed, and the annual credit card issuance and maintenance fee, which is €45.
• The next 5 installments will be for €250 each. 
• The total amount payable will be €1,620 and the APR will be 32.60%.

If you choose to defer it over 3 months, this is what you will have to pay: 

• The first installment will be for €588.50 and includes part of the principal, the deferral management fee, which is 2.9% of the amount financed, and the annual credit card issuance and maintenance fee, which is €45.
• The next 2 installments will be for €500 each. 
• The total amount payable will be €1,588.50 and the APR will be 43.14%

• The first installment will be for €474 and includes part of the principal, the deferral management fee, which is 3.6% of the amount financed, and the annual credit card issuance and maintenance fee, which is €45.
• The next 3 installments will be for €375 each. 
• 9The total amount payable will be €1,599 and the APR will be 38.03%

If you choose to defer it over 5 months, this is what you will have to pay: 

• The first installment will be for €409.50 and includes part of the principal, the deferral management fee, which is 4.3% of the amount financed, and the annual credit card issuance and maintenance fee, which is €45.
• The next 4 installments will be for €300 each. 
• The total amount payable will be €1,609.50 and the APR will be 34.83%

This system specifically applies to each individual settlement for which it has been requested.

With the deferred payment revolving, you can pay a fixed amount each month or a percentage of your card bill. This payment method charges interest.

• Interest rate: 17.52% annually.
• Credit limit: €1,500. 
• Yearly credit card issue and maintenance fee: €45. 

The monthly payment settlement date is the last business day of each month. On the 5th of the following month, you will pay a fixed monthly amount that includes principal, interest and fees. 

The minimum monthly amount is €18, and you can choose any higher amount. 

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.

También puedes utilizar el simulador de tarjetas revolving del Banco de España para calcular el importe total a pagar aproximado o la fecha en la que terminarás de pagar en función del gasto y la forma de pago elegida (https://clientebancario.bde.es/pcb/es/menu-horizontal/podemosayudarte/simuladores/calculo_cuota_tarjeta_revolving.html).

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 €2,276.98 and the APR will be 25.01% (18.84% 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. 

IMPORTANT: With the Iberia Classic Card, the credit cannot be repaid in 48 equal monthly installments because:

• The minimum amount to be repaid is 3% of the balance drawn. This means that if the amount chosen is lower than this percentage, each month you will pay the amount that results from applying that percentage. 
• The credit card issuance and maintenance fee, which is €45, is charged annually, so the payment will always be higher on the month when this fee is charged.

Therefore, if you get this card and on the same day, for example, May 1, 2020, you make a purchase for 1,500 euros and choose to make payments on the 5th of each month, the total amount payable over 48 months, assuming an NIR of 17.52% (18.84% NDER), would be €2,195.89. The APR will be 25.90%.

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.

The NDER is the narrowly defined effective rate and is equivalent to the APR without including fees and expenses.