Halifax all in one credit card

alwaysfree143

I applied for Halifax All in one credit card last week and the application was successful. They offered me 21.95% rate which is slightly higher than its standard/advertised 17.95%

I just received the offer letter today that I signed and posted back to them.

Just wanted to know who else got this card? and what is your credit limit?

Just to get an idea how much limit I might be expecting from them

alwaysfree143

One more question please,

if your application is successful does it still downgrade your credit rating and have an effect on your profile for other lenders?

I mean after Halifax credit card is approved, if i apply for 2 more credit cards so are they going to see i was successful for Halifax card recently so they might be reluctant to offer a new card despite having respectable income, good old address and being a home owner? Does the credit rating goes down regardless of the successful or rejection in your application of credit cards? or it has positive effect if the application was successful and negative for unsuccessful?

I hope my question is clear now? please help

YorkshireBoy

alwaysfree143 wrote: »

I just received the offer letter today that I signed and posted back to them.

Halifax used to print the credit limit (in code) in a footer on the bottom of one of the pages (page 3 [or 4] of 8 rings a bell, but this was a long time ago). If you made/retained a copy perhaps you could check?

Just wanted to know who else got this card? and what is your credit limit?

Just to get an idea how much limit I might be expecting from them

The fact that I got £10K, someone else got £15K, and someone else got a very lowly £1,500 isn't going to help you is it? Credit limits vary wildly as they are based on an individual assessment.

One more question please

Your credit rating will dip (perhaps only slightly) as a result of the search. Once the account has been established on your CRA credit file your rating will dip further (more so this time) due to the additional available credit you now have. As you spend on the card, and assemble debt, your rating will fall further. Does that make sense?

SCO

Your credit rating will dip (perhaps only slightly) as a result of the search. Once the account has been established on your CRA credit file your rating will dip further (more so this time) due to the additional available credit you now have. As you spend on the card, and assemble debt, your rating will fall further. Does that make sense?

No. If your credit rating will forever dip if you take credit out what is the point? I thought if you handeled credit succesfully your rating went up.

YorkshireBoy

SCO wrote: »

No. If your credit rating will forever dip if you take credit out what is the point? I thought if you handeled credit succesfully your rating went up.

Sorry I wasn't very clear. I was only talking of the short term negatives. Here's a long term positive...

As you build/sustain/repay this debt your credit rating will recover over time as you prove you can manage the payments/debt.

In other words, your rating is cyclic.