Halifax Clarity Credit Card 17.95% APR

Jakkals

opinions4u wrote: »

You have the explanation for this within the thread that you've posted on. #2 looks most helpful.

Okay, my numbers may not be current, but they were once around the numbers typically accepted or declined on a 3 tiered credit card.

1. 34% of applications are accepted at the advertised rate.
2. 8% of applications are accepted at the middle rate.
3. 8% of applications are accepted at the highest rate.
4. 25% of applications are declined based on Halifax credit scoring.
5. 25% of applications are declined due to Halifax interpretation of external credit reference information (e.g. CCJ, default etc).


It's all a massive conspiracy isn't it. Do you really believe the nonsense you've just typed? She's in the top 42% of applicants. She's ok.

They have complied with FSA standards on two thirds of successful applicants qualifying for the advertised rate.

They have offered her a credit card and they have made it absolutely clear what terms they have offered it on. If this business arrangement isn't acceptable the "your right to cancel" section of the paperwork may be of interest. Tesco were selling 3 pairs of scissors for £1 when I was in at the weekend. They looked good enough to deal with plastic cards.

Perhaps they should have just declined your partner. Would that have been preferable?

Don't you just love the people who rush to attack anyone who criticizes business practices -- the Knights of the Business Interests -- on the grounds that legally they didn't do anything wrong? Misleading is fine. And as to the condescending comment about a "massive conspiracy" perhaps you should read what MSE has to say about credit ratings before suggesting one has to be a conspiracy theorist to believe that credit card issuers don't much care for people who avoid interest by paying the full amount owed.

Dave_Z

Got my credit agreement to sign this afternoon. Was surprised to see 21.9% APR, but doesn't make any difference to me. Only interested in it for using abroad and then clearing any balance when the statement comes. I'll make sure Halifax won't be making any money out of me. If they did they might spend on their stupid adverts.

ManAtHome

Well, I got the 12.9% even though I've never paid interest on any credit card in the last 25 years or so. Bit ridiculous to assume that getting the middle rate (17.9%) means you're regarded as 'high risk' - if you were high risk, you'd just be declined.

Curt.

With Haliax, never worry about the APR. If you use the card well, and don't miss a payment or default they will reduce your APR in time. I had a 22.9% APR (i think) when i first got the card and eventually they reduced it to 17.9, then 15.9 and now 11.9 in the space of 3 years and i have never paid them a drop of interest either. In this regard (concerning APR's) they are about the best and most accomodating lender imo.

Once you have had a halifax CC for 4 to 6 months and any introductory offer you may have had, has expired, then go ahead and give them a call, ask to be put through to the customer retention team and talk with them and they should be able to do it for you.

Curt.

kexas wrote: »

What if I put money onto my credit card prior the holiday and balance is say +£200. Technically I'm not borrowing from them, so they cannot charge any interest on the top.

Its fraud but the way most folks do it to make it seem genuine is to buy an item (say a £200 one), pay off the balance in full for the statement generated and then return the item and be 200 in credit. But like i said it is fraudulent use of the card to do it with intent, so if you do it and it doesn't work out you can't really cry foul (well you can but you get what i mean).

nadinemuir

Hi all, this is my first post so be gentle!

I was accepted for the clarity card with a 17.9% rate, this makes little difference as I pay in full. With regards to my credit rating, my Equifax score is in the top 18% of the population, so this is a little surprising. Rate may be a combination of risk based and profitability based pricing. Given that I always pay in full, I pose no risk, but also less reward to Halifax as a customer. Or, it could be a totally different factor, such as I had to update my address with them before I could make the application.

Anyhoo, I digress. I called Halifax this evening and they confirmed that they will accept payments into the card once the cash withdrawal has been made abroad. It doesn't do faster payments, but can do BACS in 3 days. Can make the payment online, by phone or can even post a cheque. This means that interest will only be charged on the withdrawal for a few days if there is an internet cafe near by

Hope this info is useful

Nadine

Curt.

Its not the lender but the bank you pay them from that can issue a "faster payment" which hits the recipients account in 2 hours or so. The code you will get is "FPO" with the payment you make.

nadinemuir

My understanding is that both the sortcode sending and the one receiving must be faster payments enabled.

Either way Halifax said that their Clarity Credit Card won't accept faster payments. I can't post the link as I'm a newbie, but if you put the www bit in front, this site confirms this

bankofscotlandhalifax.co.uk/creditcards/carduseandmaintenance.asp

Curt.

Haha, you dont have to put the www bit into a url for the most part, 90% of websites dont require it so the copy and paste of what you provided should suffice.

I didnt realize halifax werent fast payment enabled. I guess you learn something new every day..

nadinemuir

I'm pretty sure their current accounts were one of the first to go live with faster payments. Shame the credit cards aren't accepting it.

I can withdraw my finds abroad, log on and send the funds via bacs that day and there will be no cash withdrawal fee, no loading fee and only interest for 3 days. Seems like a good deal to me