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July 12, 2010

  • News:  Halifax Bank Launches User Friendly Card

    As the world economy begins to improve and consumers are beginning to do a better job at paying down debt, credit card companies have begun to slowly loosen up on credit offers. Although a flood of new card offers have begun to surface, only individuals with the most creditworthy histories are recipients. We have also begun to see an increase in banks willing to take the risk of entering the credit card market. Halifax, a subsidiary of the Lloyds Banking Group in the United Kingdom, announced the launch of its new Halifax Clarity credit card. Current Halifax cardholders that maintain an account balance of at least 1K per month and spend at least 300 on their card, will receive 5 cash back, each month.

    According to Mark Powys, a spokesperson for the bank, the new MasterCard Clarity credit card is designed to be more user friendly and less complex. The new card has lower rates on purchases and cash advances than the current card. The most appealing aspect of the card is the lower interest rate. The Halifax Clarity credit card will have a flat rate of 12.9 percent annual percentage rate (APR). Customers will no longer have to pay a cash withdrawal fee nor are there any foreign transaction or balance transfer fees. It does, however, have a 1.017 percent a month service fee in additional to the 12.9 percent APR.

    Of course, all these wonderful benefits of the Halifax Clarity credit card will only be offered to the most creditworthy cardholders. Cardholders with less than perfect credit can expect to pay anywhere from 17.9 percent to 21.9 percent APR. However, every Halifax cardholder is likely to enjoy the no annual charge or the great travel discounts. It almost sounds too good to be true; a card that has simple terms and conditions, inexpensive, and no hidden fees.

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