A new matched betting Credit Card....

[philstant10]

Halifax launched a new credit card at the start of the month – which they have branded as the ‘Clarity Card’ – ie everything is straightforward, easy to understand – no hidden costs or charges.

All transaction types (balance transfers/cash/retail purchases) have a flat interest rate – which ranges from 12.9% to 21% (I guess depending upon your credit score/rating).

More relevant to us however:
• No forex charges
• £5 cashback per month (providing that you spend £300).

Now there is nothing preventing you from withdrawing £300 from an ATM, then immediately paying it back straight away in the branch. £5 nice and easy - £60 per year.

What I’m not sure about at the moment is how gambling transactions are treated from an interest accrual perspective. If you were to spend £100 in a shop, then providing that you paid the balance in full – by the time specified on your statement – you would not accrue any interest. Historically, some ‘gambling’ transactions have been treated as ‘quasi cash’ – ie treated as a cash withdrawal, which would accrue interest on a per day basis until the balance was cleared. I’m looking for clarification on this at the moment. If you pay any CC deposit off immediately anyway – this is irrelevant.

Either way – a pretty useful card to have IMHO.

[robberbutton]

Now there is nothing preventing you from withdrawing £300 from an ATM, then immediately paying it back straight away in the branch. £5 nice and easy - £60 per year.

Don't credit cards normally charge you a % for cash withdrawals?

Edit: sorry, just read terms and conditions, looks like this one doesn't

Terms and Conditions

[philstant10]

Most do. This doesnt.

"No cash withdrawal fee "

You will however accrue interest from the point of transaction until you pay the balance off.

T&C's here:

Clarity Credit Card - Halifax Personal Banking

[DireEmblem]

In which case, can you not "pre-topup" the card like the egg card?

[Landprofits]

In which case, can you not "pre-topup" the card like the egg card?

or make an overpayment, so that he card is in credit for instance....

It's a lot of shoe leather for £60 a year though...

[snowdogg]

hmmm, what would be really interesting is a credit card that doesnt treat bookie deposits as cash withdrawals and pays 1 or 2% cashback on purchases. Imagine that!