minimum payment halifax clarity

Jaguar_Skills

I understand that with this cc I have to pay off cash withdrawals instantly so as not to acc rue interest.

But is there any reason I can't leave the money in my current account and only pay off minimum payment each month? I can leave it all in my santander 123 that way and actually make some money?

Be interested to know the answer

SnowTiger

Jaguar_Skills wrote: »

I understand that with this cc I have to pay off cash withdrawals instantly so as not to acc rue interest.

But is there any reason I can't leave the money in my current account and only pay off minimum payment each month? I can leave it all in my santander 123 that way and actually make some money?

Be interested to know the answer

Yes, you can.

However, the maximum interest you'll receive from a Santander 123 account is 3%APR. The interest rate you'll pay on your Halifax Clarity card is almost certainly higher. 9.9%APR? So, you'll gain 3% interest and pay out 9.9% interest.

Doing so might also have a negative affect on your credit file: only making minimum payments and cash advance. Two factors, of many, taken into consideration by lenders.

Jaguar_Skills

So i should pay it all off? I'm pretty sure the halifax clarity doesn have apr on transactions?

SnowTiger

Jaguar_Skills wrote: »

So i should pay it all off? I'm pretty sure the halifax clarity doesn have apr on transactions?

You'll pay interest on purchases if you don't pay off the statement balance in full every month, unless you have a special, temporary, 0% interest deal running.

grumbler

Jaguar_Skills wrote: »

I'm pretty sure the halifax clarity doesn have apr on transactions?

What is this confidence based upon?
http://www.halifax.co.uk/creditcards/clarity-card/

Representative

(variable).

- like for all CCs.
The only unique peculiarity of Clarity is that it doesn't charge a fee for ATM withdrawals.