Halifax credit cards are a rip off!!

[kevindgas]

barclaycard will be the same.... it is an industry standard....

actually no it isn't
when you settle your account with b/card - m/card the interest stops! unlike halifax who think its ok to add it not once but twice!

 

[holmslaw]

when you settle your account with b/card - m/card the interest stops!

unless you've have an exiting debt or have withdrawn cash.

I'll try and explain, interest on your last months purchases starts from about 3 weeks after you receive your statement. But interest charges for previous months and for cash continue until repaid in full, also interest on cash starts immediatly upon withdrawal.

So, say you recieve a statement dated 3rd of the month for £500 and they receive your £500 payment on the 13th. What you have not paid is the interest between the 3rd and 13th of the month. So this amount will go on your next months statement including daily interest on the interest. And this will go on forever, or until you make an overpayment that covers the interest added between the statement date and their receipt of your payment.

And ALL the credit card companies are the same including halifax and barclays.

I pay my cc statement in full every month therefore there is no interest charged, so the statement amount is all I have to pay even though it's dated the 3rd and they receive payment on the 13th.

 

[geraint]

best bet is to not try and explain the simple things in life to the simple people.....

i rest my case.... seems to be better to go to brighthouse....

have what you want.....

 

[skitzee2k]

Lol. Credit cards are actually pretty awesome. They give you a lot of protection, normally give you a lot of added features and are great for emergencys...just pay it off each month!