Cashback on Halifax Clarity Card

Leaseholder49

Wonder if anyone can help me with understanding this cashback offer thing on the Halifax Clarity Card.

I'm thinking of applying for the card for overseas spending, but also noticed the cashback thing, and I happen to have a balance I could transfer at the moment.

If I transfer a balance of £2000, how long would I have to leave the balance on there in order to get the cashback? I would get £40 cashback, but how much would it cost me in interest?

Just wondering if it is worth it, as I can pay off the balance, but if I can make something on the cashback so much the better!

PurplePow

On the Halifax website it states:
"The cashback amount will be applied within 30 days of the balance transfer being added to your account."

YorkshireBoy

Leaseholder49 wrote: »

If I transfer a balance of £2000...how much would it cost me in interest?

The card will have a monthly interest rate, eg at 12.9% APR representative (you may not get this rate!) it will be 1.017%.

Multiply £2,000 by the monthly rate to get the monthly interest charge*.

Then adjust as required for the number of days you anticipate the balance being on there.

It really is as simple as that.


* There will be a small amount of residual interest the following month.