VISA Clip
How does it work?
Free insurance
What else?
Is it for me?
Costs, examples, repayment method and APR
The VISA Clip revolving credit card offers you a different way to defer your purchases. Choose a fixed monthly payment: no matter how much you spend with your card, you'll pay the same amount each month; what will change is the number of installments needed to repay the advanced amount plus interest. The nominal interest rate (NIR) is 15% per year, 16.07% APR.
Suppose you want to finance a €1,500 transaction with this card, to be paid over 48 months. The amount to pay each month would be €41.75, except for the last payment, which would be €41.45. The total amount owed would be €2,003.70, including €503.70 in interest. Since there are no other fees or charges, the total cost of the financing would be those €503.70.
Our cards are settled in monthly periods that start on the 20th and end on the 19th of the following month, with the payment being charged on the last day of this second month. In these calculations, we have assumed that the transaction is made on the first day of a settlement period. This is a purely representative example and does not correspond to the method agreed in the card contract, which will govern the settlement of transactions.
The fixed payment you choose to make each month must be between 2% and 20% of your card's credit limit. You can select any monthly amount you want, as long as it is greater than €30 and a multiple of €5, regardless of whether you spent more or less with your VISA Clip card that month. The only thing that will change is the repayment term.
Keep in mind that you can modify the amount of your monthly payments whenever you want, through our mobile banking app, online banking, by phone with our telephone banking service, or by visiting any of our branches.
And so you have all the information: the repayment system for this revolving card is called Partial Repayment with Fixed Installment: on each monthly settlement date, you will pay the same amount every month, which includes the payment of interest for the settlement period and the portion of the credit repayment until the chosen installment amount is completed. And remember: the higher the amount of credit used, the longer the repayment term will be.
Simulate payment with fixed revolving installment
How much money do you need?
Tell us how much you want to pay with the card. Based on that amount and how much you want to pay each month, we provide a simulation of how much you would pay in total and for how long.
How much do you want to pay each month?
We need you to tell us how you want to repay the card expenses each month. You can choose to pay a higher amount, a medium one, a lower one, or customize it to your liking. Keep in mind that a higher monthly payment means you will finish repaying the card debt sooner and pay less interest. Conversely, a lower monthly payment means increasing the number of months you will be paying and the total interest applied. This simulator allows you to study the cost of each alternative and choose the one that best suits you. The last two monthly payments may be different because they will correspond to the payment of the remaining principal and its corresponding interest.
How did we calculate this simulation?
We calculated the simulation assuming you make a purchase today for the amount you indicated and that you will repay it according to the monthly payment you selected. We assume you will not make any further transactions with the card and that you will pay all monthly payments on time. In each settlement period, we calculated the daily average balance of the card's principal debt and applied the interest rate for this card type. We have also included, where applicable, the card issuance/maintenance fee. With all this, we have obtained the interest and commission costs indicated and calculated the corresponding APR.
This is an indicative simulation of what you would pay for an operation with the characteristics you have specified, based on the information you have provided. The simulation does not imply that ABANCA is obliged to grant you a credit card. If you eventually contract a credit card, its conditions may differ from those of this simulation if we have additional information about your preferences or financial conditions.
Everything from your mobile
- Turn your card on and off
- Set spending limits for online purchases or cash withdrawals
- Withdraw cash on credit or debit, you choose
- Receive instant notifications for every purchase
No issuance or maintenance fees
The VISA Clip credit card is completely free of issuance and maintenance fees. If you are of legal age and already have an account with ABANCA, apply now and we will review your case.
Additionally, you can transfer money from your VISA Clip credit card to your account, and also withdraw cash at ABANCA ATMs, with no fees or charges. Until December 31! You will only pay the deferral interest indicated in the information regarding the card's costs.
And many more advantages
With the Visa Clip card you will get:
- Discounts at gas stations: 4% at all Galp service stations participating in this promotion. See terms and conditions.View PDF file
- Discounts and cashback at hotels, travel, and other establishments through the EURO 6000 Plus program. Just for using your card! See benefits.
Free insurance
Just by owning this credit card, you already have coverage linked to the card, completely free of charge. For example:
Insurance for theft or robbery at an ATM and also for fraudulent use of your card, in case you have lost it or it has been stolen.
Public transport accident insurance, when you purchase your ticket with the VISA Clip credit card, up to 100,000 euros.
A travel assistance insurance, again when you purchase your ticket with your Visa Clip card. This insurance covers travel or baggage delays, cancellation due to strike, etc.
You can check the coverage of these insurance policies in the annexes of this product's information sheet, which we include at the bottom of this page. And if you need to report an incident, we explain how you can do it without leaving home.