The Classic Credit Card could be right for you if you have a good credit rating but may not be eligible for a card in the main range of Halifax credit cards, where an excellent credit rating is required.
You may be offered this card as an alternative when you apply for a credit card in our main range but don’t qualify.
Credit available subject to status, to UK residents aged 18 or over. You can transfer balances to us (£100 minimum) from most credit cards and some store cards, excluding other Halifax products. All promotional rates apply from the date we open your account. You must pay at least the minimum payment by the due date each month and stay within your credit limit to keep promotional rates.
|A variable representative of
|A variable annual purchase rate of
|Based on borrowing
£1,200 over 12 months.
|This example is for illustrative purposes and serves as a guide only. Your actual credit limit and rate will vary based on your individual circumstances and may differ from the example shown.|
Here are some of the key features you get with your Halifax Credit Card
Annual Percentage Rate (APR) tells you how much your borrowing will cost over an average year. It takes into account interest charged as well as any additional fees you'll have to pay (such as any annual fees). This figure is given to allow you to make an easy and fair comparison between different credit cards.
If you’re accepted for this card you'll get a representative rate of 27.9% APR (variable).
It’s always good to know the exact details so here is a clear summary of all the key credit card features. The information contained in this table summarises key product features and is not intended to replace any terms and conditions.
|SUMMARY BOX - Halifax Classic CREDIT CARD|
|APR||Representative 27.9% APR (variable)|
|Interest rates||Introductory promotional rates||Standard monthly rate (variable) simple %||Standard annual effective rate (variable) %|
|Purchases||0% p.a. fixed for the first 9 months from account opening.||2.075%||27.95%|
|Cash transactions||Not available.||2.075%||27.95%|
|Balance transfers and money transfers (if available)||
Balance transfers: 0% p.a. on balance transfers you make in the first 90 days after we open your account. This rate is fixed for 18 months from when we open your account, depending on individual circumstances.
Money transfers: Not available
|Default charges - the simple annual interest rate is 24.9%|
|We will charge you £12 if you do not make at least your minimum payment to us by the payment due date requested on your statement. You will lose your promotional offers if this happens and the standard interest rates for the applicable transactions will apply.|
|Interest charging information||We calculate interest daily for all transactions (purchases, cash transactions, balance transfers and money transfers) based on the total amount you owe. We add together all the daily interest amounts in each statement period and add the total to your balance on your statement date. There are three exceptions to this rule:
|Allocation of payments||We use your payments to pay off balances charged at the highest interest rate first and so on down to balances with the lowest interest rates. This means the more expensive balances are always paid off first.
If there is more than one type of balance at the same interest rate, they are paid off in the following order: cash transactions, purchases, balance transfers and money transfers, and then default charges (plus any interest or charges incurred as a result of those balances). For each type of balance, your payments will pay off the oldest balance (and related fees, charges or insurance) first.
|Minimum payment||An amount equal to the total of interest, default charges and 1% of the balance shown in your statement (minimum £5, or the full balance if less than £5). The different ways you can repay are included on the back of your statement and in your credit card agreement.|
|Credit limit||Minimum credit limit||Subject to status.|
|Maximum credit limit||Subject to status.|
|Your credit limit is the total amount you can borrow under the credit card agreement. We tell you what it is in writing soon after entering in to this agreement. Please see your credit card agreement for any limitations that apply to certain transactions.|
|Annual fee||No annual fee.|
|Fees||Cash transactions (any currency)||3% or minimum £3.|
|Introductory balance transfer fee||3% of transfer (min £3).|
|Non-introductory balance transfers and money transfers fee (if available)||3% of transfer (min £3).|
|Statement copy fee||£5 for copies of non-current statements.|
|Non-sterling transactions (foreign usage)||Payment scheme exchange rate||Indicative rates can be found at Mastercard Currency Conversion Tool.|
|One or more of the following may apply:|
|Non-Sterling Transaction fee||2.95% of the amount of the sterling transaction value.|
|Cash transaction fee||3% minimum £3|
|Default charges||Late Payment charge||£12|
|Returned Payment charge||£12|
Credit cards are designed to be a flexible form of borrowing. Paying the minimum amount every so often can help you manage your money more effectively, although we would not recommend that you make minimum payments for a long period of time once your promotional offers have ended. Once your account is open, you can set up a Direct Debit for any fixed amount over the minimum payment by calling 03457 28 38 48. Lines are open 24 hours a day, 7 days a week.
For longer term borrowing it may be more appropriate to choose a loan from us. If you would like to find out more about this you can call Halifax Personal Loans on 0345 600 4611, (Lines are open 8am to 10pm, Monday to Friday, 9am to 6pm on Saturdays and 9:30am to 5:30pm on Sundays) or visit halifax.co.uk/loans or call into a Halifax branch, where our staff will be happy to help.
The following example highlights the difference between only paying the minimum and paying a fixed amount:
For a purchase of £1,000 on your Halifax Classic CREDIT CARD.
|Monthly Payment||If you pay the minimum payment each month||If you pay £50 each month|
|How much interest will you be charged in the first year?||£238.29||£212.29|
|How much interest will you be charged in the second year?||£210.94||£104.53|
|How long would it take to clear the balance?||19 years 4 months||2 years 4 months|
The above example assumes the following:
Halifax is a responsible lender and we only want you to borrow what you can afford and in a way that is best for you. If you’d like to talk to us about the choices you’ve made or you would like further information, please contact us. We will also be able to help you if you’re experiencing financial difficulties.