On 2nd November 2020 we are increasing your interest rate to Representative 6.9% APR for all remaining balances. This APR will appear on your November 2020 statement. If you would like to opt out of this rate change please contact us through in-app chat or on 020 3370 0970 by 2nd November 2020. If you choose to opt out of this increase, you will keep your 0% APR but you must repay your balance by 3rd February 2021. On that day we will reassess your remaining balance and may consider reintroducing an APR that could cost you more.
AER stands for Annual Equivalent Rate and explains what the interest rate would be if interest was paid and compounded once a year. Gross is the interest rate before tax is deducted.