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Applying for a second credit card
A second credit card could help to meet borrowing needs as they change.
Managing a second credit card
Applying for a second credit card
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If you’d prefer to speak to someone, give us a call or pop into your nearest branch.
Types of Halifax credit card
Frequently asked questions on second credit cards
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The lowest and longest lasting introductory interest rates are usually offered on one transaction type, so it’s important to think about the main reason you need a second credit card.
Card purchases – if you’re planning a large purchase and need to spread the cost over a few months, a second credit card could be a solution.
Or, if you’re focused on paying off a balance on your existing credit card, a second credit card could be a way to keep your everyday spending separate.
It’s useful to know, to avoid paying interest on purchases, you need to pay off your full statement balance every month.
Balance transfers – you could consolidate existing balances you hold elsewhere with a second credit card, making your outgoings easier to keep track of. Transfer fees might apply.At Halifax, you can transfer balances from most credit cards and store cards which display the Mastercard®, American Express®, or Visa® logos, but not from loan companies, bank accounts or other Halifax credit cards.
More on balance transfers
Money transfers – selected credit cards give you the option to transfer funds to your UK current account, helping with cash-only purchases and unexpected expenses. Transfer fees might apply.It’s useful to know that if you make a purchase using money transferred from your credit card to your current account, the purchase will not be protected under Section 75 of the Consumer Credit Act 1974 – unlike some credit card purchases.
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Yes. Once you’ve got two Halifax credit cards, you can ask to redistribute your credit limits between them. For example, if there’s a promotional interest rate on one card, you could move a portion of your available credit from your other card, helping you to take full advantage.
You can redistribute your credit limit once every six months, moving as little as £100 and up to 90% of your available credit limit. Any single card must have a minimum credit limit of £500.
Your outstanding balance will remain the same – this won’t increase your combined credit limit. It’s simply a way to split your credit limit to suit your needs.
If you’d like to redistribute your credit limit, give us a call or visit us in branch.
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Yes, you could make changes to your existing credit card, so it better suits your needs:
- Increase your credit limit for more flexibility. Requests are subject to status and security checks.
- Check for promotional interest rates on your existing credit card. We might contact you by email or post when new rates are available, or you could sign in to Online Banking or the Mobile Banking app to check.
- Add additional cardholders, so you can keep track of family spending in one place. Cardholders must be aged 18 or over, and you’ll be responsible for all spending and repayments.
Another alternative could be to swap your existing Halifax credit card, so you can take advantage of new interest rates.
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Applying for a second credit card could affect your credit score in a few ways:
- Any full application for credit will be recorded with the Credit Reference Agencies.
- If your application is approved, the total amount of credit available to you will increase, which could limit new credit applications being approved, at least in the short term.
- If your application is declined, your credit score could be negatively affected.
The way you manage your borrowing is also important. For example, if you don’t make payments on time or you go over your credit limit, in addition to fees, charges and losing any promotional interest rates, you also risk damaging your credit score.
Before you apply for a second credit card, consider if this is the right borrowing option, and if you’ll still be able to make repayments if your circumstances changed.
More on credit scores
If you’re worried about your credit score, you might prefer to tweak your existing credit card, instead of applying for a second credit card. The section below might give you some ideas. -
There are conditions to applying for a second credit card with Halifax. These are detailed above but, as an example, it must be at least 60 days since you applied for your first Halifax credit card.
Any credit application is subject to an assessment of your personal circumstances. This is based on a number of factors, including:
Your credit record – credit reference agencies hold information about you and your financial past, issuing you with a credit score. Lenders use this information to make decisions on credit applications.
Affordability – lenders also consider what you can reasonably afford to repay for the foreseeable future, based on things like your income and the total amount of credit that’s available to you.
Current and past relationships – lenders usually keep records about accounts you’ve held with them in the past, including information about how well they’ve been managed.
Many lenders, including Halifax, now provide an eligibility checker to help you to find and compare cards you’re likely to be accepted for, without impacting your credit rating.
A summary on second credit cards
Could be useful for purchases, transfers or to keep balances and everyday spending separate.
- Conditions apply, e.g. it must be at least 60 days since you applied for your first credit card.
- You can have up to 2 credit cards with Halifax, and up to 5 Lloyds Banking Group credit cards.
- Any credit application is subject to an assessment of your personal circumstances.
- Consider if you can make changes to, or swap your existing credit card instead.
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