Halifax Clarity Card Launch Today!

rb10

INT1 wrote: »

Well, The "Typical" APR is 12.9.

I received my agreement qwith a shocking 21.9, someone else on here got theirs with 19.9 (I think) So just double check your terms and that you have got 12.9.

This is the second time Halifax stung me like this and maybe some could call it false advertising

I don't think you'd get away with calling it false advertising for a second. This is what Halifax actually say ...

Halifax wrote:

As we treat all our customers and their applications on an individual basis, the APR and interest rates we offer are determined by the details customers supply, along with an independent verication of credit and repayment history.
Your personal APR will be from 12.9% APR variable to 21.9% APR variable, depending on individual circumstances.
Two thirds of customers are offered our best rate of typical 12.9% APR (variable).

Couldn't really make it a lot clearer ... two thirds of customers get 12.9%, but that still leaves one third (including you) on a higher rate.

With my card they occasionally write to me to tell me that they're reducing the rate. Doesn't make a jot of difference though if you're paying it all off in full.

crispy_chris

I applied for one and also got it at 21.9%, but as I will pay it off in full the APR makes absolutely no difference to me. If I was looking for a low APR I would have applied for that 6.9% one they seem to do

INT1

rb10 wrote: »

I don't think you'd get away with calling it false advertising for a second. This is what Halifax actually say ...



Couldn't really make it a lot clearer ... two thirds of customers get 12.9%, but that still leaves one third (including you) on a higher rate.

With my card they occasionally write to me to tell me that they're reducing the rate. Doesn't make a jot of difference though if you're paying it all off in full.

Thanks, I guess I must be high risk in their eyes

I have closed some dormant accounts now and at the time of applying, on my credit file would show a Car purchase of £11k on one of my credit cards, which has since been paid off now.

SuiDreams

Recieved my Pin number today hopefully I'll get the card shortly.

tomikomoly

I was hoping that this site would not fall into the same trap as some other financial columns.

How can anyone recommend the Halifax Clarity card, whatever its other merits, when it charges 1% per month on any amount withdrawn (even if repaid in full) when compared with say, the Nationwide, at 0% in Europe or 1% worldwide at interbank rates?

It only makes sense for people who want to go abroad, but have no money in their bank!

And while talking about cash cards abroad: don't touch the Post Office. They may not charge you, but when anything goes wrong, it takes ages and ages to get a response from them, never mind anybody dealing with your problems. Nationwide is my choice over anybody else - I'm surprised at Martin pushing it repeatedly.

gt94sss2

I got my blueish/purple Rewards Clarity Card today.

Points to note:

- the paperwork and/or card makes no reference to it being the 'Reward' version

- according to Card Services the £5 is paid into your current account

- Halifax work to a 25 day statement period and you have to spend the £300 in this period to qualify for the £5/month

- you can set up a direct debit with any bank.. it doesn't have to be with your Halifax current account.

Oddly, it shows up described as a 'Standard Mastercard' on internet banking..

Regards
Sunil

rb10

tomikomoly wrote: »

I was hoping that this site would not fall into the same trap as some other financial columns.

How can anyone recommend the Halifax Clarity card, whatever its other merits, when it charges 1% per month on any amount withdrawn (even if repaid in full) when compared with say, the Nationwide, at 0% in Europe or 1% worldwide at interbank rates?

It only makes sense for people who want to go abroad, but have no money in their bank!

I think you misunderstand the way in which this card works.

If you make a credit card payment abroad, then there is no charge, and there'll be no interest at all (provided you pay off the entire balance by the due date).

It's only if you make ATM withdrawals that you'll be charged interest - so you are better off using it as a credit card wherever possible, as in that way there are no charges - which is significantly better than Nationwide's 1% on all transactions (outside Europe).

td_007

tomikomoly wrote: »

How can anyone recommend the Halifax Clarity card, whatever its other merits, when it charges 1% per month on any amount withdrawn (even if repaid in full) when compared with say, the Nationwide, at 0% in Europe or 1% worldwide at interbank rates?.

All cards will charge interest on cash withdrawn on credit card. The % you mention is what is charged on card purchases - Hfx Clarity card makes no charge (ie 0%) - same as Santander or PO card.

donkingkong

donkingkong wrote: »

Applied today and was accepted with a £3600 limit.

PIN came through today. Can see account online already and was really simple to set up a DD for the full amount (already have a Halifax online account so didn't have the hassle of that setting up). Ended up getting a £3200 limit. Really smooth process.

mpppen

Well they've sent me the letter to sign after telling me that my application needed to be referred. I don't understand it. They then set a ridiculous £12,500 credit limit and the 12.9%. I do wish they would make the credit limit vaguely more realistic at a few thousand as frankly it worries me have such dumb credit limits in case it gets fraudulent (or OH goes on a spree with here additional cardholder card ) but that seemed to throw them somewhat.

I'm not very good with such things and am still not sure about holiday cash and whether to use the card abroad to get cash as and when needed or whether to get it from the travel.moneysavingexpert.com site as linked from MSE. I plan to pay the card off in full each month so presumably I'll only get charge 1/12 of the annual 12.92% PA rate for the one month I took cash out? is that correct?


Thanks for any help.