The Co-operative Bank 3 Year Fixed Rate Credit Card -Fees and how to apply
The 3 Year Fixed Rate Credit Card from The Co-operative Bank is a fixed‑rate Visa credit card that applies an fixed rate on purchases and balance transfers for 36 months. During that fixed period there is no balance transfer fee, and there is no annual fee (£0) for cardholders. After the three‑year fixed term, the representative purchase APR reverts to a variable rate.
This product is issued directly by The Co‑operative Bank and is structured to provide predictable borrowing costs for a defined period. Standard transactional fees and charges apply outside the fixed offer and for specific actions such as cash withdrawals or foreign currency transactions. The card supports mobile wallets including Apple Pay, Google Pay and Samsung Wallet, enabling contactless and mobile payments.
The 3 Year Fixed Rate Credit Card is therefore aimed at customers who want certainty about interest costs for up to three years — for example, people consolidating higher‑rate balances or who plan to clear purchases within that period. Below we detail the card’s main benefits, eligibility and how to apply, using only information disclosed by the issuer.
Benefits
The following are the principal benefits disclosed by the issuer:
- Fixed low rate: 8.9% fixed on purchases and balance transfers for 36 months.
- No annual fee: Annual fee is £0.
- No balance transfer fee during the fixed term: 0% transfer fee for the 36‑month fixed offer.
- Mobile wallet support: Works with Apple Pay, Google Pay and Samsung Wallet.
- Representative post‑term APR: 18.2% variable on purchases and balance transfers after the fixed period.
- Clear transactional charges disclosed: cash withdrawal fee of 3% (minimum £3); foreign transaction fee 2.75%; late/returned payment charge £10.
Prerequisites
Applicants must meet the issuer’s published eligibility criteria. The Co‑operative Bank discloses the following requirements:
- Minimum age: 18 years.
- Residency: UK resident.
- Minimum income requirement disclosed: £10,000 (per annum).
- Credit history requirements: No County Court Judgments (CCJs), Individual Voluntary Arrangements (IVAs) or bankruptcy within the last 6 years; application is subject to status.
If any additional documentation or eligibility checks are required, the issuer’s application process will identify these at the point of application.
Who is this card for?
This card is aimed at consumers who prioritise predictable borrowing costs over rewards or loyalty benefits. Typical candidate profiles include:
- Someone consolidating existing higher‑rate credit into a fixed, lower rate for a defined term.
- An individual who prefers budgeting certainty and wants to avoid variable interest exposure for up to three years.
- A borrower who does not require a points, cashback or travel rewards programme from their credit card (no rewards programme is documented for this product).
The product materials emphasise clarity and a straightforward repayment horizon rather than tiered benefits or redemption options.
What rewards and programs does the card offer?
The issuer’s published product information and summary materials do not document a rewards programme, points currency, signup bonus or cashback scheme for this card. Specifically, the product payload contains no category or base reward rates and no redemption or transfer partners.
Initial credit limit
The issuer provides a minimum credit line and general guidance but does not publish a guaranteed starting limit for every applicant. Disclosed values are:
- Minimum credit limit: £500.
- Maximum credit limit: Not disclosed by issuer.
Banks commonly determine an applicant’s initial credit limit by assessing factors such as income, credit history, existing indebtedness, and internal lending criteria. Where the issuer has not published a maximum, your approved limit will depend on the outcome of the bank’s credit assessment.
Step by step to apply for the card
Below is the stepwise process as indicated by the issuer’s online application route and standard practice documented in the product materials:
- Review product terms: consult the product page and the summary box/terms PDF to confirm the 8.9% fixed rate for 36 months, fees and eligibility rules. The issuer provides a PDF summary and full terms on its site.
- Check eligibility: ensure you meet the minimum age (18), residency (UK) and the disclosed income threshold (£10,000) and that you do not have the disqualifying credit events listed.
- Prepare documentation: typical documents include proof of identity and proof of address and income — the application flow will request specific documents if required.
- Begin the online application via the issuer’s application URL using the button below. The application will perform a credit check and provide a decision subject to status.
- If approved, review the credit limit and full terms the issuer supplies, sign any electronic agreements and await card delivery by post. The card will work with supported mobile wallets for contactless payments.
Mobile apps
Card’s pros and cons
Pros
- Fixed 8.9% rate for three years simplifies budgeting and can reduce interest costs versus higher‑rate cards.
- No annual fee (£0) lowers ongoing ownership cost.
- No balance transfer fee during the 36‑month fixed term reduces the cost of consolidating balances.
- Supports major mobile wallets for convenient contactless payments.
Cons
- After the fixed term, the rate reverts to a variable representative APR of 18.2%, which is materially higher than the introductory rate.
- There is no documented rewards, points or cashback programme for this product, so spending does not generate additional benefits.
- Cash advances carry a high rate (27.9% variable) and a fee (3% with minimum £3), which makes cash withdrawals expensive.
- Some operational fees apply: foreign transaction fee of 2.75% and £10 for late or returned payments.
Fees and tariffs
Disclosed fees and charges for this card include the following (all amounts are as published by the issuer):
| Fee / Rate | Details / Tariff |
|---|---|
| Annual Fee | £0 |
| Introductory Offer | 8.9% fixed on purchases and balance transfers for 36 months with 0% balance transfer fee during this fixed term |
| Representative APR (Post-Fixed Term) | 18.2% variable (representative APR) |
| Cash Advance APR | 27.9% variable |
| Cash Advance Fee | 3% of the amount withdrawn; minimum £3 |
| Foreign Transaction Fee | 2.75% on non-sterling transactions |
| Late Payment / Returned Payment Fee | £10 each |
| Interest-Free Days | Up to 56 days (on purchases, when statement balance is paid in full by the due date) |
For a full fee schedule and any other charges not listed here, consult the issuer’s published charges page and the terms and conditions PDFs linked in the Sources section below.
Customer service
Official customer support channels disclosed by the issuer are:
- Phone: +44 3457 212212
- Contact hours: Mon–Fri 08:00–18:00; Sat 09:00–17:00; Sun 09:00–17:00
- Issuer website (product and help pages): Official website
- Mobile apps: iOS: Co‑operative Bank app on the App Store; Android: Co‑operative Bank app on Google Play.
Important disclaimers
This article uses only information disclosed by the issuer’s product materials. Credit card terms, rates and fees can change; readers should consult the issuer’s official pages and the full terms and conditions before applying. This content is educational and does not constitute personalised financial advice. Borrow responsibly and consider repaying balances in full where possible to avoid interest charges.
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