I've just had a browse through a letter containing the latest changes to the Halifax credit card terms and conditions.
Among other things I notice that
1) Where the interest incurred in any month is less than 50p, then they will levy a minimum interest charge of 50p. -- They did a similar sneaky thing with their Payment Protection Insurance (which I cancelled) a while back. Though I never incur interest on my card, I think it is a sneaky way of adding to their coffers.2) In common with most other credit card issuers they state that they "may" charge a balance transfer fee of 2% (minimum 2 quid). -- MBNA has recently changed "may charge" to "will charge" BTW.
3) In certain circumstances they may return balance transfers that result in a large credit to the account back to the other card provider.Looks like changes 2) and 3) are aimed squarely at those who take advantage of the "0% balance transfer to high interest account" caper. I certainly hope that Egg does not adopt measure 3) above!
My Halifax card is looking less and less attractive and may soon go into the bin.
On a separate note I really must reduce my stack of credit cards as I've grown tired of being contacted almost daily by call centres in India. It has reached the stage now where I refuse to pick up any calls which my callerid has flagged as INTERNATIONAL. I'm sure they will become wise to this tactic and work out a way to make overseas call centre calls appear to come from a UK number though :(