Co-operative Bank credit cards

Best Co-Op credit cards

The Co-operative Bank (also known as the ‘Co-op’ Bank) incorporates online bank Smile and, more recently, the Britannia Building Society. It is part of the wider Co-operative Group which is the UK’s largest consumer co-operative.

The Co-operative Bank promotes ethical values throughout its business and supports the needs of local communities.  It offers a range of financial products including savings accounts, loans, current accounts and insurance. It also offers a range of credit cards which come with various benefits to reflect the different needs of its customers, for example low rate cards, cashback cards and cards for the environmentally-aware.

Guide to Co-operative credit cards

Co-op offers a range of credit cards, including fixed rate cards and cards which provide cashback on all your purchases. It also offers cards which you can only apply for if you are a Co-op member.

Becoming a member entitles you to earn points when you shop at the Co-op, with the value of these points linked to the profit the business makes, When you join, £1 is deducted from your first share of the profits. It is returned or donated to a community fund if you decide to cancel your membership

Having a fixed rate card could give you peace of mind that your rate won’t suddenly increase, but bear in mind that the rate will rise and become variable once the fixed rate period ends. 

Co-ops’ fixed rate cards don’t have an annual fee and if your application is successful, you will get the advertised rate. By law, credit card providers only have to offer the advertised rate to at least 51% of customers, but with these cards, the rate you see is the rate you’ll get.

Co-op credit cards are fully regulated by the city regulator the Financial Conduct Authority (FCA).

Credit cards give you valuable consumer protection that cash and debit cards don’t. Under Section 75 of the Consumer Credit Act, if you pay for goods or services using a credit card, the card provider is jointly liable with the retailer if something goes wrong. This protection only applies to items or services costing between £100 and £30,000. So, for example, if you ordered a bed costing £500 and the shop you bought it from goes bust before it is delivered, the credit card provider should provide you with a full refund.

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