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(Possibly naive) Halifax Clarity Card enquiry
Comments
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The problem is theorectically that you are always paying interest on your interest.
This is because the statement only shows interest up to a certain point and there is interest on the time period between statement and payment clearance date that isn't shown
Yes. Usually it's calculated daily and applied monthly. Therefore it is simple interest daily but compounds monthly. (Ie you won't pay interest on interest until it has appeared on the statement.)0 -
Yes, I understand.
But the problem is that theorectically you always owe interest for ever (a smaller and smaller amount).
So you never get out of that unless you have some insider knowledge on how the lender does their rounding.
I don't have that knowledge.0 -
I just set up a direct debit from my current account to pay the whole outstanding balance. It said that can take up to 10 working days though.
I withdrew 200 euro and have been charged 169.92 GBP (rate of approx. 1.177 which isn't bad at all).0 -
I know Halifax has recently changed it's online banking screen. Having been using an old RBS cashback card up until recently with them, I found that transactions would take a few days to appear (even longer in some cases).
I would not be too concerned if I was you, having only just come back from Hamburg. It nice to know straight away the value of the transactions made abroad, but sometimes you have to allow the system in the region of 3-5 working days for the transaction to appear on your account screen.
Also I know the old Halifax system allowed a minimum of £5.01 for my cashback card. If you had no balance showing on the account, it was not possible to pay a credit card transaction of £70 (for example) which you may had only completed earlier that day. Maybe things have changed with the new online banking system.:j:j:j:j:j:j:j:j:j:j:j:j:j:D:j:j:j:j:j:j:j:j:j:j:j:j:j:jMe and the gang!!!0 -
rorylando45 wrote: »I withdrew 200 euro and have been charged 169.92 GBP (rate of approx. 1.177 which isn't bad at all).
What date was that? (Ideally the settlement date...)0
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