With the deferred payment revolving, you can pay a fixed amount of your card bill each month. This payment method charges interest.
- Interest rate: 17.52%.
- Credit limit: €1,500.
- Yearly credit card issue and maintenance fee: €23. 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 card simulator revolving 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
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.
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 €2,188.98 and the APR will be 21.96%
The calculation of the APR and the total amount payable takes into account the €23 card issuance and maintenance fee, which is charged annually.
IMPORTANT: With the settlement system of the BBVA Después Young Person's Card, it isn't always possible to repay the credit in 48 equal monthly installments because the minimum amount payable is 3% of the balance drawn. This means that every month, you will pay the higher of the following amounts:
- The selected fee, made up of principal, interest and fees.
- Or 3% of the credit drawn before settlement, plus the interest and fees for the period.
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 of 37.68 euros on the 5th of each month, the total amount payable over 48 months, assuming an NIR of 17.52%, would be €2,111.76. The APR will be 22.58%.
The calculation of the APR and the total amount payable takes into account the €23 card issuance and maintenance fee, which is charged annually in the month when the card is issued. This fee is part of the balance financed.
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.
