Halifax Clarity 17.9

londoniana

I was recently approved for the Halifax Clarity card at the 17.9% rate with a £2500 limit. I only intend to use it for travel and pay it off in full each month with a direct debit. However, I don't like the 17.9 rate, is there anything else I can do to get that down to 12.9, which is the posted rate? Like closing and reapplying after a while? Or calling to try to have it reduced (do they ever do that?). Or is there any other card that I can use for traveling, with no load fee?

My credit history is clean but new, as I moved to the UK in June 2011. I am on the electoral roll and have a mobile contract and two other credit cards (MBNA Platinum and Barclays Simplicity, both at £0 balance), and no other loans except a mortgage.

Probi

If your paying it off in full then what difference does it make?

londoniana

As far as I know it does, as I use it for both cash withdrawals and purchases while abroad.

scottishblondie

The interest on the cash withdrawals won't be that much unless you're planning on taking very large amounts. If you're really concerned then pay off the withdrawals as soon as you can.

They are unlikely to change your interest rate, but you can try. Cancelling and reapplying probably isn't the best idea. You would have to wait 6 months to a year (not sure how long) with no guarantee that they will even accept you again.

grumbler

londoniana wrote: »

As far as I know it does, as I use it for both cash withdrawals and purchases while abroad.

Come on...
For cash withdrawals only 0.36% p.m. difference is so small that is hardly worth thinking about, especially if you don't wait until the due date to pay the cash balance.

londoniana

Unless I get stuck and can't pay at some point... My intent is to pay in full and normally I can do it, but sometimes things happen so lower rate is better.

cdavies1960

It you really get into a bad situation, balance transfer.

The clarity card is one of the best cards out there for international purchases. Especially when you don't pay any cash withdrawal fee abroad! (you do have start incurring interest)... However if you prepay the card before doing this... you pay about 1-2 days worth of interest (hardly anything).

grumbler

Prepay? Did you read the T&C? You can get away with this, but it's hardly worth advocating.

cdavies1960

**Within reason**

I use this card constantly when abroad and if I make a prepayment just after I've made the withdrawal (granted you need the mobile app on your phone or access to internet banking)... But never had a problem before and I frequently am very open with the Halifax help desk... As long as its no more than 50% in credit of the card limit, they have no problem with this.

This is what has been described to myself over the phone. If they let you do this.... why not? Its intrabank FX in cash which is VERY hard to get hold of in paper notes.

unimaginative_user_name

Bear in mind too that you'll get a really good exchange rate with this card and this will help offset the small amounts of interest you'll pay especially if you pay your balance off before your statement comes.

chanz4

give it 6-9 months then ask, myns at 12.9