When you transfer a balance within 90 days of the account opening, you will receive a low rate of 0%. If not, the rate will increase to 19.95% P.A variable with a fee of 3%. This 90 day duration may differ depending on personal circumstances.
Balance Transfer 0% for 25 Months with a 1% fee
There has been a large focus on credit cards for bad credit as of late and though they are beneficial to many, it’s important to pay attention to credit cards for good credit. Though credit cards for bad credit are available to a lot of people, it’s often standard balance transfer credit cards that offer more to users. If you have a good credit rating, there’s no reason to shy away from credit cards that are aimed at those with a good credit score. This includes the credit card from Halifax. If you are looking for a balance transfer credit card with a lot to offer, consider Halifax.
Who Can Apply For A Halifax Credit Card?
As is the case with all credit cards, you need to meet specific requirements in order to be approved for a Halifax credit card. This includes being a UK resident, being over the age of 18 and having a good credit score. If you do not meet these requirements, for example if you have a bad credit score or you are not a UK resident, you will not be approved. Once you have ticked all of the requirement boxes, other information about you will be considered. Income, financial history, other credit cards held and experience of using credit may all be taken into account.
What Does The Halifax Credit Card Offer?
- The Halifax balance transfer credit card offers an APR of 19.9%, which is a lot lower than what many other major credit card companies offer. Though it’s not the lowest, it’s a long way from the 21.9% APR and higher that we are used to seeing from other companies.
- Halifax offers a rate of 0% for 25 months with a 1% fee on balance transfers. In order to take advantage of this offer, you need to transfer a balance within 90 days of opening an account. If you do not, the balance transfer rate increases to 19.9% P.A. variable with a 3% fee. Though this offer has a duration of 25 months, it is subject to change based on personal circumstances. Information such as credit history and how you have managed credit in the past will be considered before the introductory rate is offered.
- The Halifax credit card also offers a rate of 0% on purchases for a period of 12 months. It’s important to note that this 12 month period starts from the date of opening the account, not from the date of the first purchase made.
With a lot of information out there and multiple credit cards to consider, finding the perfect credit card for you can be a daunting task. Luckily, taking the time to carry out thorough research and making a point to credit card compare can simplify things in a big way. If you have a good credit score and want a credit card that is good for transferring balances, Halifax could be ideal.