The Halifax Student Credit Card

The Halifax Student Credit Card is designed to put you in control of your finances now, as well as to help you start to build your credit history for the future.  We offer the following benefits:

• Maximum credit limit of £1,000 (subject to status). However you can decrease your limit if you want, down to a minimum of £100. Let us know how much you want when you activate your card.
• Free text alerts - to remind you to pay your bill and the minimum payment required.

Take a few minutes to apply online  for an instant decision (in most circumstances).

The Halifax Student Credit Card gives you:

• Weekly balance updates via text to help you to stay in control
• No interest will be charged on purchases if every statement balance is paid in full by the payment date
• No annual fee
• Cover against online fraud when purchasing goods on the internet
• Accepted wherever you see the MasterCard sign in over 31 million locations worldwide

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What's more...

we have a new plastic design, exclusively for students!

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 Student Credit Card
APR	Representative 19.9% APR (variable)
Interest rates		Introductory rate	Monthly rate	Annual rate
	Purchases	not applicable	1.527%	19.95%
	Cash Withdrawals	not applicable	1.527%	19.95%
	Balance Transfers	not applicable	1.527%	19.95%
	We may apply the standard interest rate during any special promotion period to any transaction if in any month you do not make at least your minimum payment by the minimum payment date or if you exceed your credit limit at any time.
Interest-free period	Maximum 56 days for purchases if you pay the full balance shown on your previous and current statement on time. No interest-free period on balance transfers or cash withdrawals.
Interest charging information	You will not pay interest on new purchases if you pay the full balance shown on your previous and current statement on time. Otherwise, the period over which interest is charged is as follows:
		From		Until
	Purchases	date debited to your account		paid in full
	Cash Withdrawals	date debited to your account		paid in full
	Balance Transfers	date debited to your account		paid in full
Allocation of payments	If you don't pay your balance in full we will allocate payments to balances with the highest interest rate before balances with lower interest rates. See section 6.1 of the terms and conditions for full details
Minimum repayment	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).
Credit limit	Minimum credit limit	Subject to status.
	Maximum credit limit	£1000. Your cash limit is 50% of your actual limit
Fees	No annual fee.
Charges	Cash withdrawals	3% or minimum £3
	Balance Transfers	3% for each individual Balance Transfer.
	Copy statements	£6 for copies of non-current statements.
	Copies of transactions	£5 for each copy of a record of a transaction.
Foreign Usage	Payment scheme exhange rate	Indicative rates can be found at https://www.mastercard.com/global/ currencyconversion/index.html
	One or more of the following may apply:
	Non-Sterling Transaction fee	2.95% of the amount of the sterling transaction value.
	Cash fee	3% minimum £3
Default charges	Late Payment charge	£12
	Returned Payment charge	£12
	Overlimit charge	£12
These details are correct on 31/12/2012

Cost of Borrowing

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 08457 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 0845 600 46 11 , or visit http://www.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:

Illustrative example	For a purchase of £1,000 on your Halifax Student 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?	£175.23	£150.74
How much interest will you be charged in the second year?	£155.11	£61.56
How long would it take to clear the balance?	18 years 5 months	2 years 2 months

The above example assumes the following:

• The transaction takes place on 1 January and you make no further transactions.
• You always make the payment each month on the 15th.
• Your statement is produced on the 1st of each month.
• You are on the best rate available.

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 would like advice, we will be happy to refer you to a member of staff who will be able to help you. They will also be able to help you if you’re experiencing financial difficulties.

You can apply online - our Student credit card application form will open in a new window, and will take about five minutes to complete.  You need to be over 18 and a UK resident.

In most circumstances you'll get an instant decision.