TERMS & CONDITIONS
- APR – Representative 28.9% variable
- Love, Shop & Pay Later - Purchases of £50.00 or more are interest and payment free for up to 3 months. Interest will be charged on any remaining balance after this 3 month period has ended. Interest is charged from the day that your love, shop, pay later ( also known as buy now, pay later) period ends until the amount you owe is fully repaid.
- Interest – For purchases for £49.99 or less, we will not charge you interest if you pay the amount you owe as shown on your statement by the ‘payment to reach us by’ date. If you choose not to pay the total balance by this date, we will charge interest from the date the purchase was made until the date the amount you owe us is repaid. We will add interest to your account on the day we produce your statement.
- Minimum payment – You’ll need to make a minimum payment each month on any standard balances (purchases of £49.99 or less). This will be 3.65% of the balance or £3.65 (whichever is more) plus any fees. Your monthly statement will show the minimum you have to pay and when you need to pay by.
- Allocation of payments – Any payments that you make which do not pay the full balance on your account will pay any higher interest rate balances first. When payments are allocated to your balance, they will be applied in the following order: default fees and charges, interest, purchases of £49.99 or less and then interest free purchases.
- Default charges - £12.00 for late payments, unpaid direct debits, and for spending more than your credit limits.
- Copy Statements - £2.50 per paper copy statement – if you manage your account online at Ikano.co.uk 12 months’ statements are available without any charges.
New Look Retailers Ltd. is authorised and regulated by the Financial Conduct Authority. New Look acts as a broker and only offers credit products for Ikano Bank AB (publ). Ikano Bank is authorised in Sweden by the Swedish Financial Supervisory Authority (Finansinspektionen) and in the United Kingdom by the Prudential Regulation Authority and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Ikano Bank is a trading name of the UK branch of Ikano Bank AB (publ), which is registered with branch number BR016253. The registered office of the UK branch of Ikano Bank AB (publ) is Waterfront House, Waterfront Plaza, Station Street, Nottingham, NG2 3DQ. New Look is the trading name of New Look Retailers Ltd, whose registered office is New Look House, Mercery Road, Weymouth, Dorset, DT3 5HJ.