The APR (53.9%) shown on the fees link is a hypothetical calculation based on a £1,500 balance which includes the £350 annual fee as part of the finance charge. The APR shown has been calculated under the new compulsory Consumer Credit Act regulations, which require us to use a £1,500 ‘notional’ credit limit. The £1,500 limit coupled with the £350 fixed annual card fee distorts the ‘advertised’ APR. If this disclosure has any value it would be to compare with other UK issued cards, but in fact I expect most cardholders do not borrow money in this fashion.