Halifax is shortly to launch a new student credit card, it has revealed, offering a competitive APR exclusively for students that is intended to help them manage their finances effectively.
In addition to a competitive APR of 17.9%, the card will also offer a range of other features, such as free monthly text alerts reminding cardholders of their payment date, free alerts informing them of their current balance, a grace period of 59 days, no annual fees, and a maximum credit limit of up to £500, to help students control their spending.
Halifax is offering the credit card to all students, not just those who bank with them, hoping to get involved in the growing number of students that have a credit card – 43% according to their research, which also revealed that 73% have a balance of less than £500.
Ken Stannard, Head of Halifax Credit Cards, comments: “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.”
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