Halifax Flexi Card

Cameronc96 · 18 December 2018 at 3:13PM

I have been successful in my application for a Halifax Flexi-Card. What I'm not sure about though is if I able to use it for the odd purchase here and there, or do I need to spend big on it and then pay back monthly.

I would rather just use it on the odd occasion just so I can boost my credit score a little. The t&c's mention an instalment plan and as far as I could understand it can be used for day-day purchases but I just wanted some clarification.

agrinnall · 18 December 2018 at 3:47PM

I've not heard of it, and I haven't taken the time to fully understand how it works, but I have to wonder why you have taken out such a card without understanding yourself how it works? If you don't need what it offers wouldn't a more straightforward credit card have been a more suitable choice?

[Deleted User] · 18 December 2018 at 3:48PM

You can use it like a normal card.

Just clear in full each month and don't be concerned when your score drops. You're looking to builld good credit history.

PRAISETHESUN · 18 December 2018 at 5:50PM

I'd just treat it as a normal credit card, make some monthly purchases and pay off the balance in full every month - set up a DD so you don't forget. It doesn't matter how much you spend, but try to keep your credit utilisation between 0-30% as this looks the best on your credit file.

Ignore any reference to your score provided by the CRAs - these numbers are only seen by you and do not indicate your creditworthiness to lenders. They can (and do) vary for no identifiable reason, so don't panic if it changes. What matters most is your credit history. Using your card as described above will start to show a pattern of good credit management which is reported on your credit files, which will indicate to lenders that you can be trusted with credit and will slowly but surely make you eligible for better offers.

cgloss96 · 23 June 2019 at 12:07PM

Hi,

I am totally new to credit cars and do not really know much about them. I am a 22yo male and basically want to boost my credit score. To do so, I have been told to get a credit card to pay for day-to-day thing such as groceries and then pay it off immediately. Is this Halifax Flexicard best for me?

I will simply use the credit card and transfer money into it to pay it off within 5 minutes. The sole purpose is simply to boost my credit score. Will I get charged if I pay the credit card off as I use it? E.g. Use flexicard to buy £20 shopping, 5 minutes later i will transfer £20 from current account to credit card to pay balance off. Will I get charged? And is this the best credit card for me?

Thanks (Sorry if this is a stupid question but I am new to credit cards)

[Deleted User] · 23 June 2019 at 12:12PM

Don't do anything of what you're suggesting.

Spend on the card, then wait for the statement. Clear in full before the due date. Don't pay off before the statement

Ignore the credit scores provided by the CRAs. Simply clear in full,bsray underlining and don't miss payments.

cgloss96 · 23 June 2019 at 12:15PM

Deleted_User wrote: »

Don't do anything of what you're suggesting.

Spend on the card, then wait for the statement. Clear in full before the due date. Don't pay off before the statement

Ignore the credit scores provided by the CRAs. Simply clear in full,bsray underlining and don't miss payments.

Oh really?! So let's say I use the card in July, I will receive a Credit Card Statement in August, let's say -£150 and on that it will give a due date e.g. September 1st and I should pay the £150 back into the CC account between August 1st - September 1st?

[Deleted User] · 23 June 2019 at 12:20PM

Something like that, yes.

cgloss96 · 23 June 2019 at 12:21PM

Deleted_User wrote: »

Something like that, yes.

Will i be charged any intreest or will the amount keep the same as i spent (as long as I pay it before its due date)?

[Deleted User] · 23 June 2019 at 12:29PM

As long as clear in full and don't make cash transactions, you'll pay no interest.

gionnetto · 23 June 2019 at 12:51PM

cgloss96 wrote: »

Hi,

I am totally new to credit cars and do not really know much about them. I am a 22yo male and basically want to boost my credit score. To do so, I have been told to get a credit card to pay for day-to-day thing such as groceries and then pay it off immediately. Is this Halifax Flexicard best for me?

Before answering your question re Halifax Flexicard, I'd like to know if you have any of the following in your name:
1) a current/student account - For how long?
2) a utility contract (such as a SIM only mobile plan) - For how long?
3) a car loan or any other form of credit - For how long?

cgloss96 wrote: »

I will simply use the credit card and transfer money into it to pay it off within 5 minutes. The sole purpose is simply to boost my credit score.

If you want to boost your credit history, you will need to do the following:
1) do your regular spending on your credit card (only what you can afford)
2) wait for the statement to be issued
3) pay it in full each month via DD
If you also want to boost your credit score, keep your utilization below 20%.

cgloss96 wrote: »

And is this the best credit card for me?

Keep in mind that, if you use your credit card as detailed above, ANY card will do. You don't need the "best", you just need a card to start with!
Good luck! :beer:

Halifax Flexi Card

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