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Halifax Platinum cards - new T&C !!
jonesMUFCforever
Posts: 28,898 Forumite
in Credit cards
Got a letter today from Halifax about new terms and conditions starting in May. Most of these will disadvantage card holders:
1 Cash advance fee up from 2% to 2.5%(min £2)
2 Where they offer special rates on balance transfers and credit card cheques they MAY include a handling fee of 2% (min £2)
3 They will introduce a system to limit the proportion of your credit limit that you can withdraw in cash. (How and why should they do this when they make money out of it!)
4 They will in certain circumstances return balance transfers that result in a large credit balance on the account back to the other card provider.
5 Withdrawl of complimentary insurance cover (Apparently not enough people made use of it!)
6 I think I have read this correctly - If you incur interest in any month and this is less than 50p they will charge you minimum interest of 50p.So if I get charged say 10p interest they will increase it to 50p!I know the figures are small but this is the thin end of the wedge. How long before this is increased to a £1 then £2 - hitting you in the pocket apparently without having to amend their APR .
Any thoughts anyone?
I only use the card in emergencies these days so charges should not affect me much.
Eric
1 Cash advance fee up from 2% to 2.5%(min £2)
2 Where they offer special rates on balance transfers and credit card cheques they MAY include a handling fee of 2% (min £2)
3 They will introduce a system to limit the proportion of your credit limit that you can withdraw in cash. (How and why should they do this when they make money out of it!)
4 They will in certain circumstances return balance transfers that result in a large credit balance on the account back to the other card provider.
5 Withdrawl of complimentary insurance cover (Apparently not enough people made use of it!)
6 I think I have read this correctly - If you incur interest in any month and this is less than 50p they will charge you minimum interest of 50p.So if I get charged say 10p interest they will increase it to 50p!I know the figures are small but this is the thin end of the wedge. How long before this is increased to a £1 then £2 - hitting you in the pocket apparently without having to amend their APR .
Any thoughts anyone?
I only use the card in emergencies these days so charges should not affect me much.
Eric
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