Halifax clarity & cash abroad.
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martynh99
Posts: 134 Forumite
in Credit cards
Just got my clarity card and will be using it in next couple of months for holiday transactions.
I have a query on cash withdrawals.
I've had a read of this http://www.halifax.co.uk/creditcards/clarity-card/#section71412152667750 and it seems to say you can't preload your card up with cash to avoid interest.
However it does say this 'You will still be charged interest from the date that the withdrawal is made,'
So if I know i'm going to withdraw say €300 on Tuesday, if I were to withdraw that, and then that very same day pay off £ equivalent of €300 by bank transfer, I shouldn't get charged interest or if I do it should only be very minimal being a day or so between initiating payment and it hitting my credit card - does that sound right ? Is anyone using this method successfully ?
I have a query on cash withdrawals.
I've had a read of this http://www.halifax.co.uk/creditcards/clarity-card/#section71412152667750 and it seems to say you can't preload your card up with cash to avoid interest.
However it does say this 'You will still be charged interest from the date that the withdrawal is made,'
So if I know i'm going to withdraw say €300 on Tuesday, if I were to withdraw that, and then that very same day pay off £ equivalent of €300 by bank transfer, I shouldn't get charged interest or if I do it should only be very minimal being a day or so between initiating payment and it hitting my credit card - does that sound right ? Is anyone using this method successfully ?
0
Comments
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If you have no other balance on the card, then yes, you can do that.
But don't worry too much about it - you're talking a few pence of interest a day.0 -
Whereas if there is a previous balance on the card, then the payment goes against the last statement balance before items that have not yet appeared on a statement.
That means if you pay the cash equivalent back the next day, you won't avoid interest on the cash, unless you pay it in addition to the last statement balance.
I think most people wouldn't worry too much, and pay the sum of these two amounts plus a a quid or two by the due date.0 -
4p per £100 per day.
Focus on cheaper flights. Cheaper accommodation. Cheaper food. Cheaper beer.
Then worry about the card interest.0 -
Just got my clarity card and will be using it in next couple of months for holiday transactions.
I have a query on cash withdrawals.
I've had a read of this http://www.halifax.co.uk/creditcards/clarity-card/#section71412152667750 and it seems to say you can't preload your card up with cash to avoid interest.
However it does say this 'You will still be charged interest from the date that the withdrawal is made,'
So if I know i'm going to withdraw say €300 on Tuesday, if I were to withdraw that, and then that very same day pay off £ equivalent of €300 by bank transfer, I shouldn't get charged interest or if I do it should only be very minimal being a day or so between initiating payment and it hitting my credit card - does that sound right ? Is anyone using this method successfully ?
What I do with mine is wait for the amount to appear on the online statement and then transfer that from my current account to the CC account, as others have mentioned the interest is minimal.0 -
Thanks allDeleted_User wrote: »If you have no other balance on the card, then yes, you can do that.
But don't worry too much about it - you're talking a few pence of interest a day.
Only planning on using this card for €uro transactionsPeacefulWaters wrote: »4p per £100 per day.
Focus on cheaper flights. Cheaper accommodation. Cheaper food. Cheaper beer.
Then worry about the card interest.0 -
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and remember to tell them before you travel.Being polite and pleasant doesn't cost anything! --
Many thanks
-Stash bust:in 2022:337
Stash bust :2023. 120duvets, 24 bags, 43 dog coats, 2 scrunchies, 10 mittens, 6 bootees, 8 glass cases, 2 A6 notebooks, 59 cards, 6 lav bags,36 angels,9 bones, 1 knee blanket, 1 lined bag,3 owls, 88 pyramids = total 420 total spend £5. Total for 'Dogs for Good' £546.82
2024:23 Doggy duvets,30 pyramids, 6 hottie covers, 4 knit hats,13 crochet angels,1 shopper, 87cards=164 £86 spent!!!0
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