Ditching Nationwide Card for what?

Lad

Hi,

I have a Nationwide Flexaccount and also a Nationwide credit card and use the cards abroad for ATM withdrawals and purchases. I also exchange a small amount of cash before I leave the UK so that I have some money when I arrive at my destination. So, my main source of spending money is through the use of these cards. With the new fees being introduced by Nationwide in November, I'm looking into alternatives.

I've read a few posts on the forum and am a bit uncertain about the steps I can take. I've seen FairFX and Halifax Clarity cards being mentioned and it seems that these could be better alternatives but am not sure if I understand correctly.

Should I basically apply for a Halifax Clarity card and use it for BOTH ATM withdrawals and card purchases as the only cost involved is interest charges for ATM withdrawals and nothing else? If I do this, although the interest is 12.9% APR, if I pay off the debt completely I will only incur around 1% interest for the whole amount I've withdrawn?

Should I consider getting a FairFX card as well (or instead) or is this only for people who can't get a Halifax Clarity card?

Finally, would it work out better to take sterling instead and change it abroad (if you ignore the risk of losing it)?

Thanks!

ailuro2

We take a few hundred in the local currency, ordered in advacne to get the best rate.

while there we use our Post Office card which is fee free worldwide ( we used to have Nationwide and ditched them when they started charging)

We keep an eye on our currency, and if we've too much left nearer the end of the holiday we start using the cash instead of cards.

The Halifax card might be fee free, but it charges interest from the day of withdrawal, tbh I can't be bothered goign online on holiday to pay into credit cards to save a couple of quid, so I will stick with the current method we use.

We always have our bank debit card with us, which charges 2.5% cash withdrawal, but that still makes it a better rate than buying currency at a poor rate at the last minute ( business rate being better than tourist rate)

ferf1223

Lad wrote: »

Finally, would it work out better to take sterling instead and change it abroad (if you ignore the risk of losing it)?

It probably depends on where you go - we go mainly to the US and no way would this be the best option.

My understanding is that in general the Halifax Clarity card would be a better deal than FairFX...we have FairFX card which we are about to merge the balances on, clear them and then probably ditch them. Anymore we use Crown Currency cancelled contracts to get the bulk of our holiday money in advance as we generally get better than the bank rate doing this (not always going to be the case, but so far so good)...and use Post Office CC for for purchases and Santander Zero debit card (not everyone can get one) for withdrawals and some purchases. We're also considering switching our Nationwide account to Metro Bank, but we are London based so this will be easy for us.

photome

ailuro2 wrote: »

We take a few hundred in the local currency, ordered in advacne to get the best rate.

while there we use our Post Office card which is fee free worldwide ( we used to have Nationwide and ditched them when they started charging)

We keep an eye on our currency, and if we've too much left nearer the end of the holiday we start using the cash instead of cards.

The Halifax card might be fee free, but it charges interest from the day of withdrawal, tbh I can't be bothered goign online on holiday to pay into credit cards to save a couple of quid, so I will stick with the current method we use.

We always have our bank debit card with us, which charges 2.5% cash withdrawal, but that still makes it a better rate than buying currency at a poor rate at the last minute ( business rate being better than tourist rate)

It is no bother to get a Halifax Clarity card and only pay 1% interest and then pay it off,when you get the satement (no need to go online on holiday) over paying 2.5% on your debit card

Like you I use a PO C card for purchases but not for withdrawals.

Like Ferf I have used CC cancelled contracts this year and bought £1200 worth of dollars at an average of 1.67 which beat any withdrawals I could have done in Aug

ailuro2

I had a read on the Halifax Clarity - I need to have a Halifax account paying in more than £1000 a month to get the card. I think that might exclude some people.;)

apt

No you don't. The £1,000 per month going into a Halifax current account is needed to get the Reward Clarity Card (which gives you £5 per month reward if you make purchases of £300 or more.) You do not need another Halifax account for the non-reward Clarity card.

luci

Correct, the non-Reward Clarity doesn't need a Halifax account.

Be aware that if you are going to be using the Clarity card abroad, you need to call them and complete a "holiday form".

Donnie

luci wrote: »

Correct, the non-Reward Clarity doesn't need a Halifax account.

Be aware that if you are going to be using the Clarity card abroad, you need to call them and complete a "holiday form".

Really?? :eek:

luci

Yes, really. I called them to advise of an upcoming trip with it being a new card and was told they would complete a holiday form for me. I was then asked if I had any more trips planned in the coming 12 months.

I called a few days later about something else and we got taking about holidays. The CSA immediately asked if I had completed a holiday form so they seem quite big on that.

photome

luci wrote: »

Yes, really. I called them to advise of an upcoming trip with it being a new card and was told they would complete a holiday form for me. I was then asked if I had any more trips planned in the coming 12 months.

I called a few days later about something else and we got taking about holidays. The CSA immediately asked if I had completed a holiday form so they seem quite big on that.

I also told Halifax that I might be using my new Clarity card on holiday in the US, he didnt mention any holiday form but he did take details of when and where I was going

ince_mon

I've got the Halifax Clarity Card,and i've already informed them that i'll be in Oz for a month either side of xmas. But i'll be ringing them again just before i go,to make sure they haven't "forgotten".;)