Applying for a Halifax Credit Card

I personally would't worry about applying for it, if its offering you the most competative rates for your needs, then go for it. it seems their future seems pretty secure now (except all the poor buggers who will prob lose their jobs!!)

as for that clause, it is just giving an example of how much it would cost you to borrow 1.5k over a year on that rate. all credit cards have to o that now, to make sure people understand what the APR actually equates to!!

hope that helps!!

em x

Ah, thanks for explaining that Emmy.

A credit card means you are borrowing off them, not them off you. Therefore the only credit worthiness that is relevant is yours.

If you were to sign a credit card contract with them your terms would continue exactly the same whether they go bust or not. If they went under someone else would buy the asset (thats you and your interest payments every month) and the terms would carry on irrespective.

Assuming the deal with Lloyds goes through, the likelihood of them going bust is low. (Would have said very low, but the events of the last week have been so remarkable that no-one can know anything for certain anymore.) However, even if they do, the worst that could happen is that the credit card offer is withdrawn and you repay any outstanding balances on the conditions you signed up to. So you won't be faced with any nasty surprises whatever happens.

So if the offer suits you and the deal is still being offered, I'd go ahead. Keep in mind that they are likely to have a much lower tolerance for default and so may easily enforce terms more strictly - so make sure you can afford to repay what you are borrowing.