Black Diamond Visa Credit Cards – UK Review

We provide a review of the Black Diamond Credit Card which is suitable for many people here in the United Kingdom who may have been declined for one or more other credit cards, due to having a bad credit history as a result of getting into financial difficulty in the past. We cover things like who can apply, how to complete an application form and what you can use the visa card for.

Features at a glance

  • Can be used to make purchases and withdraw cash in numerous outlets worldwide.
  • Manageable credit limit.
  • Interest rate – Representative 59.9% APR (variable)
  • UK based call centres.
  • Free additional cardholder.
  • Variety of ways to make a payment to your account i.e. online/phone.
  • Chip and pin card providing extra security.
  • Fraud monitoring provided free.
  • As many as 56 days’ interest free when buying things using the card.

What is a Black Diamond Visa Credit Card?

It provides many of the features and benefits of most other credit cards for bad credit that are offered by the major banks and building societies. For instance, it can be used to purchase products and services in high street shops, online or over the telephone and you can even make cash withdrawals at many ATMs. The card can be used worldwide.

You are provided with a credit limit that is reviewed periodically by the issuer of the credit card and this limit may be increased as long as you have maintained the operation of your credit card account satisfactorily.

If you use the card then you will be expected to, at least, make the minimum repayment each month which is a % of the balance outstanding. If you do not clear the full balance outstanding on the credit card each month or you make cash withdrawals you will be charged interest.

Who can apply for a Black Diamond Credit Card?

You can apply for a card if you are at least 18 years of age, are resident in the UK, not bankrupt and maintain a landline telephone. If you already have a credit card issued by Vanquis Bank Ltd you cannot submit an application form.

How can you apply for a card?

It is quick and simple to complete an online application form with a speedy decision provided.

As part of the assessment process, a credit reference search will be undertaken on you as well as your identification and address being verified.

What is the credit limit on Black Diamond Cards?

If your initial application for a credit card is accepted, you will be provided with a limit of between £150 to £1,000.This limit may be increased progressively up to a maximum of £3,500 if you maintain the credit card account in a satisfactory manner.

What is the interest rate on a Black Diamond Card?

The interest rate is Representative 59.9% APR (variable). This was correct as at 22nd February 2016 but please refer to Black Diamond Credit Card’s own website before applying in case the rate has changed.

The rate could range from 39.9% APR variable to 69.9% APR variable depending upon the individual circumstances of the customer.

Cash withdrawals using the credit card attract a higher rate of interest.

Can this card be used to repair your credit rating?

Potentially, yes.

How you maintain your credit card account will be notified to the credit reference agencies so, if your account is conducted satisfactorily, it may help improve/repair your credit rating.

How can you pay funds into your credit card account?

There are numerous ways. For instance, you can utilise your bank’s online or telephone banking services to make one off payments or set up a standing order with your bank to make regular payments or arrange a direct debit.

You can pay by debit card either by phoning the credit card provider or by using their online service or by sending a cheque with a pre-printed giro credit by post to the credit card provider. You can also use a pre-printed giro credit at the counter of the Post Office or your bank or you can pay by Continuous Payment Authority.

What are the fees and charges on the Black Diamond Card?

There is no application fee nor is there an annual fee. However, other charges may apply such as if you withdraw cash, request copies of statements or if you are late in making a payment or exceed your credit card limit. Please refer to the company’s website for full details of their fees before applying.

Summary

The Black Diamond Credit Card is quick and simple to apply online for and is available to some people that have a poor credit rating who may otherwise have struggled to obtain a credit card through the likes of a high street bank or building society. It can be used for a variety of purposes, being accepted at a substantial number of outlets. However, in view of the interest rate, it would be preferable if you could clear the full outstanding balance by the due date each month and avoid making cash withdrawals so that you do not pay any interest.

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