Halifax 0% Purchase Card

mike-eddie

Hi There,

Ive recently graduated from University and successfully applied for the Halifax Purchase 0% card. Ive been offered 0% interest free for 16 months, with an APR of 21.9% thereafter. The card has been added to my online banking, and Im just waiting to receive the card.

I have a couple of questions though please if anyone can help:

1. Do I have to pay the full balance of the card each month in order to maintain the 0% interest free period, or simply pay the minimum amount each month?

2. My credit limit has been set at £6,000. Is this going to change when I receive the card, or is this the actual limit of my account. It is considerably more than what I indicated may be useful when applying for the card. Is there any negative effect of having a large credit limit?

Thanks in advance,

Mike

david_cox1990

Hi Mike,

1) With interest free cards, it is of my understanding that you will only need to pay minimum payments on a monthly basis. So long as you are making these payments, the interest free should still apply.

2) The credit limit set is probably based on your credit rating. Just because you have a £6k limit, it isn't a bad thing, if anything it's a positive! Just don't go silly and rack up tons of debt!

Hope this helps a bit?

Please feel free to correct me anyone, if you feel that I'm incorrect.