The new credit card offers a competitive rate of 17.9% APR and has additional features to help students manage their finances. These include free monthly text alerts reminding cardholders of their payment due date, free weekly text alerts informing cardholders of their balance, and a minimum repayment of 5% or GBP5, whichever is the greater.
In addition, the card has a maximum credit limit of GBP500, with the option for cardholders to choose a lower limit when they activate the card. Unlike a number of other providers, students will not have to have a Halifax student current account to qualify for the Halifax student credit card.
Ken Stannard, head of Halifax credit cards, commented: Halifax already boasts a market leading student current account and our student credit card is no exception. We offer students a lower APR than rivals such as Lloyds TSB and NatWest. Our new text service will allow students to monitor and control their finances more closely, as well as giving them the convenience of using a credit card.
