Iberia Icon Card

A fee will be charged for cash withdrawals on credit at ATMs in the following cases:

• ATMs of the BBVA group in Spain: 2.5% (minimum €3).
• ATMs of banks other than the BBVA Group in Spain: BBVA will charge the same fee as it is charged by the bank that owns the ATM. The ATM will display the amount to be deducted before you withdraw any funds. Also, BBVA will charge you the fee for withdrawing cash on credit at BBVA Group ATMs in Spain (3.5%, with a minimum of €3).
• ATMs located outside of Spain: 4.5% (minimum €4).

A fee will be charged for cash withdrawals on debit at ATMs in the following cases:

• ATMs of the BBVA group in Spain: 0%.
• ATMs of banks other than the BBVA Group in Spain: BBVA will charge the same fee as it is charged by the bank that owns the ATM. The ATM will display the amount to be deducted before you withdraw any funds.

• ATMs located outside of Spain: 4.5% (minimum €4).

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: €3,000. 
• Annual credit card issuance and maintenance fee: €90. 

You sign up for the Iberia Icon Card with a limit of €3,000. 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 €134.38, which includes only interest and the annual credit card issuance and maintenance fee, which is €90.
  
• The next 11 installments will be for €297.88 each.
  
• The total amount payable will be €3,412.54 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 of €3,000. 
  
• Yearly credit card issue and maintenance fee: €90.

You sign up for the Iberia Icon Card with a limit of €3,000.  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 €740 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 €90.
  
• The next 5 installments will be for €500 each. 
  
• The total amount payable will be €3,240 and the APR will be 32.60%.
  

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

The APR in these representative examples was calculated based on an amount greater than €1,500, since it is not possible to get this card with a €1,500 credit limit.

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: €3,000. 
• Yearly credit card issue and maintenance fee: €90. 

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 €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 Bank of Spain's revolving card simulator to calculate the approximate total card payment or the final payment date, based on the expense and the payment method chosen.

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 Iberia Icon Card, keep in mind that the €90 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 €36.80.

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 €2,375.89 and the APR will be 33.26% (18.99% NDER)

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 settlement period starts on the first business day and ends on the last business day of the month. 

On the last day (30th or 31st), a bill is issued for the total of all the purchases you made with your credit card during this period.

The bill is charged to the account on the 5th of the following month.

Deferred payments are settled on the last business day of the month. This day (30th or 31st), the bill corresponding to the settlement is issued, and then charged to the account on the 5th of the following month.

By law, we have to provide you with a standard document with basic information on the insurance policy associated with the cards issued by Iberia Cards to help you better understand their main features.

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By law, we have to provide you with a standard document with the pre-contractual information on payment services to help you better understand its main features and so you can compare with other cards and make an informed decision.

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See the European regulation, PSD2, on electronic payment services here. 

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