Credit available subject to status, to UK residents aged 18 or over.
If you’re a student, you’ll probably be living on a tight budget. Our Student Credit Card gives you a bit of extra spending power when you might need it and is designed to help you stay in control.
The Halifax Student Credit Card benefits include:
|Based on borrowing
over 12 months.
|This example is for illustrative purposes and serves as a guide only. Your actual credit limit 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 Student 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.
It takes just minutes to apply.
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|
|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 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:|
|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 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 fee||3% minimum £3|
|Default charges||Late Payment charge||£12|
|Returned Payment charge||£12|
These details are correct as of 31/12/2012
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 0345 728 3848. 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:
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.