Halifax credit card guide
Halifax is one of Britain’s most well-known brands. It is now part of Lloyds Banking Group, following the merger between Lloyds TSB and HBOS in 2009.
It is probably best known as one of the country’s largest mortgage and savings providers but Halifax also offers a range of credit cards.
The All-in-one card is its flagship credit card, offering a competitive interest-free period on bother balance transfers and purchases.
However, in addition to the All-in-one card, Halifax also offers other credit cards which may be more suitable for you, depending on what you’re looking for.
It also has a card for students, which is great for those at university. While some may question whether it’s responsible to offer credit to students, it can actually be a really useful facility to have. As a student, don’t expect to be able to run wild with a credit card. Students tend to be offered relatively low credit limits – typically £300 to £500.
Taking out a credit card as a student can be a great way of demonstrating that you can manage credit responsibly. This will have a positive impact on your credit score and enhance the likelihood of being accepted for other forms of credit in the future. It can also be beneficial to make a purchase using a credit card. You get extra protection using a credit rather than debit card for purchases of more than £100 under section 75 of the Consumer Credit Act.
Halifax also offers a range of charity credit cards – great if you have a favourite good cause as each time you spend on the card, a small amount will go to the relevant charity.
Halifax are one of the most recognized brands in Britain, offering a range of products to its customers such as credit cards, loans, bank accounts, savings accounts and more.
Halifax Credit Cards offer a range of different credit cards each tailored to various features such as purchase credit cards, balance transfer cards, low rate cards and rewards cards. There are lots of different cards to choose from in its range and always plenty of offers.
Halifax credit cards are available in a range of designs and a variety of benefits come with them such as no annual fees, round the clock service, and cover against online fraud.
Many credit card providers offer a range of different products but some have a more limited range Halifax however provide a range of different credit cards, and depending on your situation you may find that there is more than one available to choose from.
Students often have trouble finding a suitable credit card although many students wish to take out Credit Cards and Halifax provide a student credit card designed to help build credit history for the future. The limit on the card is capped at a maximum of 500 pounds making it less likely to get into debt.
Halifax offer its customers a card which has one flat rate for balance transfers and purchases
Glossary of terms
APR
This stands for Annual Percentage Rate. Any firm that lends money is required by law to quote the APR. Introductory rates do not include arrangement fees you may be charged and also don’t reflect any higher rate of interest that your borrowings will ultimately revert to. The APR takes into account the interest on a loan plus and additional charges making it easier for you to compare products. In general, the lower the APR the better the deal.
Balance Transfer
Balance transfer rates are applied to existing card debt that is being moved from one issuer to another or a consolidation of other debts. These rates tend to be lower than standard rates and apply to the debt transferred or consolidated for a specified term or until it is repaid in full.
Credit Card
Credit cards are a form of borrowing used to purchase goods and services, to obtain cash advances and for consolidating debt.
Direct Debit
This allows an organisation to take money directly from a persons bank account
Minimum payment
The amount you must pay each month to keep your account in order
Interest-free period
The time between when you buy something on the card and the date when you must pay your monthly bill. This can be 50 days or more and is interest-free. So if you settle your bill in full every month, it's free borrowing.
Promotional Rate
A rate that is applied to your account until a given expiry date. Thereafter it will revert to the rate applicable to your account at that time.
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Representative Example: If you spend £1,200 at a purchase interest rate of 17.95% (variable) your Representative APR will be 17.9% (variable).