Approval for any credit card will depend 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.
Halifax Credit Card review 2021
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.You say: ★★★★★We say: ★★★★★
Doing its job: 4/5
In a nutshell:
Up to 56 days
Interest-free each billing period
|Issuer||Bank of Scotland|
|Balance transfer fee||5%|
|Purchases interest-free period||Up to 56 days|
|Min credit limit||£0|
|Max credit limit||Not specified|
|Additional cards available||1|
Tom Stelzer is a writer for Finder specialising in personal finance, including loans and credit, as well as small business and business loans. He has previously worked as a freelance writer covering entertainment, culture and football for publications like FourFourTwo and Man of Many. He has a Master of Media Arts and Production and Bachelor of Communications in Journalism from the University of Technology Sydney.
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.
The Halifax Credit Card is issued on the Mastercard network so it's accepted at nearly 53 million merchants across more than 210 countries and territories.
Pros and cons
- A low ongoing interest rate (variable)
- No annual fee
- Relatively high balance transfer fee
How does it compare with other low rate deals?
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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 9.93% (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 (£169.29), it'll cost you around £4.99 in fees.
What is the minimum payment on the Halifax Credit Card?
Each month you must pay at least 2.5% of your balance at that point or £5.00 – whichever of the two figures is greater. So if you had, say, £180.00 outstanding, you'd pay £5.00, and if you had £800.00 outstanding, you'd pay £20.00.
Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money which can lead to persistent debt.