Halifax card limit amount

Options
joeteds
joeteds Posts: 10 Forumite
Combo Breaker First Post First Anniversary
in Credit cards
Hey all
I want to apply for a Halifax 30 moths 0% purchase card and have just done the pre approval thing on here and got a 95% accept rate so Im going to apply.Only thing is I need £2000 and I don't want to apply if Im going to get lower than that otherwise it will be pointless.So my question is does anybody know the average limit that Halifax give out on there purchase cards? My credit rating is good (925) btw if that makes a difference which it obviously does.
Thanks

Comments

  • BoGoF
    BoGoF Posts: 7,099 Forumite
    Name Dropper First Anniversary First Post
    Options
    There is no such thing as an average. You will only find out if your application is successful.

    And your 'score' of 925 means nothing.btw.
  • joeteds
    joeteds Posts: 10 Forumite
    Combo Breaker First Post First Anniversary
    Options
    BoGoF wrote: »
    There is no such thing as an average. You will only find out if your application is successful.

    And your 'score' of 925 means nothing.btw.
    Oh ok thanks.Surprised that a credit score has no say in the amount your lent.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Options
    The credit scores are just marketing gimmicks designed to keep you interested.

    No one sees them and they have little grounding in reality.

    Being 18 years old remains one of the best ways to have a high score.
  • Dobbibill
    Dobbibill Posts: 4,135 Ambassador
    First Anniversary Mortgage-free Glee! Name Dropper First Post
    Options
    Unfortunately no-one can tell you the limit your likely to get, if any.

    The only way to know is to apply.

    Do you have a plan B if you don't get the £2k you would like?
    I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    If you can't be the best -
    Just be better than you were yesterday.
  • joeteds
    joeteds Posts: 10 Forumite
    Combo Breaker First Post First Anniversary
    Options
    Dobbibill wrote: »
    Unfortunately no-one can tell you the limit your likely to get, if any.

    The only way to know is to apply.

    Do you have a plan B if you don't get the £2k you would like?
    No I haven't but if I don't get the full amount I wouldn't bother spending anything on the card.Its for photography equipment as I used to be really into it and then had to sell all of my old stuff.I promised myself Id get back into it in the new year.So its not exactly a life or death purchase.I figured out that I'll be paying the lot off by June anyway but as an impatient bloke I can't wait until then and I want it right this second :rotfl: hence the credit card.
    Another question is that the repayment calculator is showing that at 18.9 apr the monthly repayments will be £66 for £2000 but its 0% for 30 months so that means the repayments will be lower than £66 right? Sorry if these are silly questions but Im not very clued up in the credit card world.Ive tried to sat away from them for a long time :)
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Options
    Most cards are 1% plus fees and interest as a min payment. So £20 on a 2k balance
  • joeteds
    joeteds Posts: 10 Forumite
    Combo Breaker First Post First Anniversary
    Options
    Deleted_User wrote: »
    Most cards are 1% plus fees and interest as a min payment. So £20 on a 2k balance
    Thanks a lot
  • Dobbibill
    Dobbibill Posts: 4,135 Ambassador
    First Anniversary Mortgage-free Glee! Name Dropper First Post
    Options
    As this is a money saving site/forum, I couldn't really post without saying - you should really save for it first ;)

    It appears Halifax charge 1% of balance (plus any interest/charges) which you won't have whilst on a promo deal.

    Maybe a better option would be £2k /30 *months = £66.66 so you can be sure you've cleared the balance before the promo period ends.

    *this is assuming you get the credit limit and the length of offer you want.
    I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    If you can't be the best -
    Just be better than you were yesterday.
  • joeteds
    joeteds Posts: 10 Forumite
    Combo Breaker First Post First Anniversary
    Options
    Dobbibill wrote: »
    As this is a money saving site/forum, I couldn't really post without saying - you should really save for it first ;)

    It appears Halifax charge 1% of balance (plus any interest/charges) which you won't have whilst on a promo deal.

    Maybe a better option would be £2k /30 *months = £66.66 so you can be sure you've cleared the balance before the promo period ends.

    *this is assuming you get the credit limit and the length of offer you want.
    Well I applied and got £3500 with the 0% on purchases for 30 months.I'll be spending £2000 and thats it so your saying the monthly repayments will definitely be £66.66 even on the 30 months 0% on purchases promo ? It will all be paid off by the end of June anyway but I was hoping to pay a lot less than the £66 a month until then.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Name Dropper First Post First Anniversary
    Options
    joeteds wrote: »
    Well I applied and got £3500 with the 0% on purchases for 30 months.I'll be spending £2000 and thats it so your saying the monthly repayments will definitely be £66.66 even on the 30 months 0% on purchases promo ? It will all be paid off by the end of June anyway but I was hoping to pay a lot less than the £66 a month until then.
    Read the post again. The Halifax minimum payment is 1% of the statement balance during the 0% period. 1% of £2,000 is £20. That's what you MUST pay.

    Of course you can pay more than this, and that is what Dobbibill was encouraging you to do...because you hadn't stated your likely timescale of 6 months until your last post.

    So paying £20 a month for 6 months, then a one-off £1,880 in June/July will work just fine.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.3K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 248K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards