Unhappy with your Halifax Clarity card interest rate?

seriousDFW

eschaton wrote: »

I applied once the other week - got 21.9%.

Never had a card at 21.9% in my life. Told them to cancel my application.

Apply again? Never.

I think you have to be more sophisticated in calculating the cost of using the card, rather than just using the APR as the decider. Yes, 21.9% is quite high for a credit card, but it seems you have taken it as a personal insult. Comparing the Clarity card as an everyday credit card is not correct or fair - its benefits could very easily justify a larger APR, as has already been discussed.

I wouldn't use the Clarity card at 17.9% or 21.9% to carry a balance, but I would MUCH rather use it for overseas spending and cash withdrawals, as it will still be cheaper than a card with a low APR.

It's very short-sighted to refuse the benefits of this card just because you know some other people have a lower rate. It's definitely a case of cutting your nose off to spite your face.

chattychappy

seriousDFW wrote: »

I wouldn't use the Clarity card at 17.9% or 21.9% to carry a balance, but I would MUCH rather use it for overseas spending and cash withdrawals, as it will still be cheaper than a card with a low APR.

Yep, I'm in a similar situation with Santander ZERO. The standard APR has been hiked step-by-step from around 18% to its present 34.5%. But I never pay more than a few days' interest at this rate. (Ie when I do ATM withdrawals.) Foreign purchases go onto NW Select or Post Office. Santander Zero make good BT offers too and I have on occasion taken these up.

I would be quite content if they increased my APR to 50%. Whatever suits them. It would have to be Wonga style rates before it really had any impact.

eschaton

seriousDFW wrote: »

I think you have to be more sophisticated in calculating the cost of using the card, rather than just using the APR as the decider. Yes, 21.9% is quite high for a credit card, but it seems you have taken it as a personal insult. Comparing the Clarity card as an everyday credit card is not correct or fair - its benefits could very easily justify a larger APR, as has already been discussed.

I wouldn't use the Clarity card at 17.9% or 21.9% to carry a balance, but I would MUCH rather use it for overseas spending and cash withdrawals, as it will still be cheaper than a card with a low APR.

It's very short-sighted to refuse the benefits of this card just because you know some other people have a lower rate. It's definitely a case of cutting your nose off to spite your face.

Not at all, using the available credit from this card on 0% cards will be far more cost effective.

My only reason for applying was the rate of 12.9%, I would not have applied at a considerably higher rate.

seriousDFW

eschaton wrote: »

Not at all, using the available credit from this card on 0% cards will be far more cost effective.

My only reason for applying was the rate of 12.9%, I would not have applied at a considerably higher rate.

I'm afraid you're missing the point entirely.

eschaton

seriousDFW wrote: »

I'm afraid you're missing the point entirely.

What point are you seeing?

seriousDFW

eschaton wrote: »

What point are you seeing?

That even with the 'considerably higher APR', this particular card could STILL be cheaper than alternatives.

eschaton

seriousDFW wrote: »

That even with the 'considerably higher APR', this particular card could STILL be cheaper than alternatives.

You should have saved the capital letters for 'could'.

I don't normally do credit cards above 0%, that one at 12.9% COULD have been useful. At 21.9% it would never have been a consideration.

Tying up £5,200 of available credit on this card could have been a MISTAKE.

No need to worry about that now I won't be getting one.

seriousDFW

eschaton wrote: »

You should have saved the capital letters for 'could'.

I don't normally do credit cards above 0%, that one at 12.9% COULD have been useful. At 21.9% it would never have been a consideration.

Tying up £5,200 of available credit on this card could have been a MISTAKE.

No need to worry about that now I won't be getting one.

Capitalising 'could' instead of 'still' would have the same effect linguistically.

Ok, well I disagree but there's no merit in continuing this discussion.

eschaton

seriousDFW wrote: »

Capitalising 'could' instead of 'still' would have the same effect linguistically.

Ok, well I disagree but there's no merit in continuing this discussion.

There was no merit in starting it either.