Halifax Credit Card review
- Representative example:
- Representative 12.9% APR variable. Based on assumed borrowing of £1,200. Rate of interest 12.94% p.a. (variable).
- Account fee
- £0
- Balance transfer fee
- 0%
- Interest-free each billing period
- Up to 56 days
Our verdict
With a noticeably low rate on purchases, balance transfers and cash advances, this Halifax card could be an option for those looking to keep their interest costs down.If you're someone who struggles to pay off your credit card balance in full each month, finding a card with a low interest rate could save you a lot of money.
The Halifax credit card offers a noticeably low variable rate on purchases, balance transfers and cash advances, but little beyond that.
While a low rate is never a bad thing, customers looking to keep their costs down may be better off finding a dedicated 0% purchase or balance transfer card, or ideally, making sure they pay off their balance in full each month and avoid paying interest at all.
It's also worth keeping in mind the fees you'll need to pay on both balance transfer and cash advances with this card, which could negate much of the savings you'd potentially make based on the lower rate.
Ultimately, the Halifax credit card offers a low interest rate, but not much else, but could be a worthwhile option for those who carry a balance each month.
Pros
- Customers report excellent customer service when dealing with Halifax
- A low ongoing interest rate (variable)
- Earn points on day-to-day spending
- No annual fee
Cons
- Applicants with low credit scores are unlikely to be eligible
- A punishing fee of 5% on cash withdrawals (you should avoid using a credit card to withdraw cash in any case)
Details
Product overview
| Issuer | Bank of Scotland |
| Network | Visa |
| Representative APR | 12.9% |
| Annual/monthly fees | £0 |
| Balance transfers | 12.94% |
| Balance transfer fee | 0% |
| Purchases | 12.94% |
| Purchases interest-free period | Up to 56 days |
| Money transfers | 12.94 |
| Cash advances | 12.94% |
| Maximum credit limit | Subject to status |
| Additional cards available | 3 |
| Potential costs | 7.8Great |
| Extras | 5Standard |
| Overall Finder Score | 5.4Standard |
Fees and charges
| Minimum monthly payment | Greater of: 2.5% of the underlying balance plus the month's interest and any applicable fees and charges; £5; or the outstanding balance. |
| Annual/monthly fees | £0 |
| Balance transfer fee | 0% |
| Money transfer fee | 5 |
| Foreign usage charge (EU) | 2.95% |
| Foreign usage charge (rest of world) | 2.95% |
| Cash advance fee | 5 |
| Late payment fee | 12 |
| Replacement card fee | £0 |
| Duplicate statement fee | £0 |
| Exceeding limit fee | £0 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application requirements
| Minimum Age | 18 |
| Minimum income | £0 |
| Availability | Available to new customers |
The Halifax Credit Card is issued on the Visa network (used by a whopping 4.2 billion cards), so you'll be able to use it at more than 100 million merchant locations across more than 200 countries and territories.
How does it compare?
Halifax's card
Finder Score for credit cards
To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
Read the full methodologyOther popular low rate deals
Finder Score for credit cards
To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
Read the full methodologyApproval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Defaqto.
"I chose this as I have been a Halifax customer since opening my first savings account when I was younger and I could get accepted for a credit card. I have the credit limit that is just right for me and I find Halifax outstanding with what they offer, such as a free credit score every month and information on what may have affected it.
If there’s one thing you’d tell a friend who’s thinking of getting this, what would it be?
I would highly recommend it – it’s so easy to use, especially with the Halifax app."
Repayment options
You can make manual repayments through Halifax's app by logging in to your online banking or over the phone (0345 944 4555). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (12) or losing any promotional rates as a result.
You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
| Minimum amount | |
|---|---|
| Fixed amount | |
| Fixed percentage | |
| Full amount |
How to apply
If you've compared cards and settled on the Halifax Credit Card, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible.
Frequently asked questions
Can I withdraw cash using the Halifax Credit Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Halifax Credit Card is 5.
The interest rate on this part of your balance will be 12.94% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
How much does it cost to use the Halifax Credit Card abroad?
Non-sterling transactions are subject to a 2.95% charge. For example, if you spend 200 euros (£172.71), it'll cost you around £5.09 in fees.
