Top tips on managing your credit card.

A credit card is a flexible and convenient way of borrowing money in the short term but sometimes we all need advice on how to take control of our finances. Here are some of our top tips to help you stay in control of your finances to avoid getting into financial difficulties.

Step 1

Only borrow what you can afford to repay

It can be tempting to apply for a credit card with a large credit limit. However, we would recommend that you only borrow what you need and can afford to pay back.

It’s also wise to keep some of your available credit limit for emergencies.

Step 2

Know and stick to your credit card limit

Know and stick to your credit card limit. Contact us if you don’t want your limit increased. You can also lower your credit limit at any time if you feel it is too high.

Step 3

Take control of your repayments

You can set the amount you want to pay each month. Set yourself a target of when you want to pay off your balance and then tailor your payments to fit. If you want to pay down your card quickly, don’t settle for the minimum payment.

Step 4

Set up a Direct Debit for your credit card

Setting up a Direct Debit can help you keep on top of your credit card payments. The payment will automatically be taken each month and will mean you never miss a payment and avoid late fees.

Step 5

Keep your credit card receipts

Keep receipts for all your credit card transactions. This will allow you to check your statement is accurate. If there are any duplicate or wrong transactions, we may be able to help.

Step 6

Understanding rates, fees and charges

Understanding your credit card interest rates, fees and charges, can help you to avoid additional costs. If you're unsure about any of the terms we use on your account, you can find out more in our handy guide.

Getting help with credit card debt

If you’re struggling to make payments on your credit card, please contact us.

We have trained advisors who will be able to offer you help and guidance on how to pay off your credit card debt. We can discuss payment options with you and may be able to negotiate an agreement which will reflect what you can afford to pay based on your personal circumstances.

Getting in touch with us:

Making sure you get a fair deal

We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.

Halifax Credit Cards are issued by Bank of Scotland plc, Registered in Scotland No.SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration no. 169628.