new card

Sncjw

ive just applied and been accepted for my first credit card. I chose the clarity card because of the £5 reward and I will be paying the money off in full so I didn't really need the 0% intrest free form purchases.

Anyway my limit is £2000 and want to ask a couple of things.

is that per month and also how does the £5 reward get paid to me. does it get paid into my current account.

[Deleted User]

Your limit is £2000, all the time. Always keep your balance well below it.

his_missus

The £5 will be credited to your credit card after you have paid off the balance in full. I have to spend £300 or over to qualify for the £5 bonus.


if you don't pay off the statement in full each month, you'll not get the bonus.

tomxlisa

A great card for a first card, people normally have to build up a great credit history to get accepted for this one, but i am guessing you bank with halifax so its different for you, as you already have a relationship with them.

Sncjw

yeah I do bank with them.

so would that mean £5 towards my next bill then.

I will be paying it off in full. ive just set up the direct debit to do so.

is 2k a good amount for first card as well.

King_Of_Fools

Sncjw wrote: »

so would that mean £5 towards my next bill then.

Yes, so for example if you spend exactly £300 each billing period you will only have to pay £295 per bill after the first month.

Superscrooge

Sncjw wrote: »

ive just applied and been accepted for my first credit card. I chose the clarity card because of the £5 reward and I will be paying the money off in full so I didn't really need the 0% intrest free form purchases.

Anyway my limit is £2000 and want to ask a couple of things.

is that per month and also how does the £5 reward get paid to me. does it get paid into my current account.

Yes 2k is a good amount for a first card. Check your T&C's re the £5 reward.

On my Halifax CC you only get the monthly £5 reward if you have spent more than £300 on your card that month. £5 is then credited to your CC balance.

Your £2,000 credit limit just means you must not have a balance of more than £2,000 on your credit card. But if you are always paying the balance in full, then yes you can spend a further £2,000 each month, but as previously mentioned it's usually best not to totally max out your available credit limit.

SnowTiger

Sncjw wrote: »

is that per month and also how does the £5 reward get paid to me. does it get paid into my current account.

Bear in mind:

11.2 - To be eligible for the reward set out in condition 11.1, you must, at the time you enter into this agreement:-

(a) hold a Halifax current account and pay in £1,000 or more each month;
(b) use our switching service to move your current account to a Halifax Current Account and agree to pay in £1,000 or more each month;
(c) open or hold a Halifax Ultimate Reward Current Account.

Sncjw

Can I be a pain.

If I bought something this month like up to the 30th would they want the money on the 30th February or from the start of the month

than_prutt

Different bank have different statement cut date. You'll just need to wait until you receive your first statement then you'll usually have to make a payment around 14 days after the statement date, but check the payment due date too.

Superscrooge

Sncjw wrote: »

Can I be a pain.

If I bought something this month like up to the 30th would they want the money on the 30th February or from the start of the month

If they only want the money on the 30th February they are going to have a long wait :rotfl: