What is compound interest?
Compound interest takes account of interest you will pay on interest if you do not repay your total outstanding balance in full each month. This rate may be the most comparable to rates you see offered by other credit card providers. The compound equivalent will be displayed alongside your simple standard and simple cash interest rates. As promotional or Purchase Plan rates are not affected by any Bank of England Base Rate changes, these rates are displayed as compound rates only.
Please note that other credit card providers may refer to the compound rate differently.