clarity card charges....

welshguy_456

I have just received the halifax clarity card which I have read on here its the cheapest way to spend abroad, but also have noticed even if I pay the balance in full there will still be some interest so how exactly do you manage to clear your balance?

We are going to mexico in June and I was just going to take this card out there and any cash/purchases we need just take out of the ATM or pay over the counter, then just have one bill when we get home to pay off, does this seem they way everone else does it??

Also we would be taking a small amount of peso with us just to get to the hotel so could I just go to my local shop where I booked the holiday and again just buy lets say £100's worth of peso with the card?

thanks in advance

Mikhail

Interest only incurs for cash withdrawals (from the day of withdrawal) . Read T&C and particularly how Halifax allocates payments and if you, during your trip, will have an Internet access to you bank account you can repay your cash withdrawals almost avoiding the interest, i.e., <1%, if your APR is 12.9%

welshguy_456

My apr is 12.9% and to be honest if I'm saving that much by using the card abroad anyway, I dont really mind paying what would be £1 on every £100 taken out, its not a huge amount.

Is it true it would basically take me 2 statements to completely clear my balance? or once I have paid it there will be no more interest?

thanks for your reply

trisha

I have just taken a clarity card out, I thought that if I set up a DD to pay off the card in full each month I would avoid interest, is that correct ?

It seemed the best thing to do as we go away quite a bit and wouldn't be able to use internet banking unless it was in a cafe or hotel and I would worry about the safety of doing that.

Trisha

jonesMUFCforever

How much has your holiday cost? What relation is this to the fact you have a card you can use worldwide for next to nothing?

danouk

trisha wrote: »

I have just taken a clarity card out, I thought that if I set up a DD to pay off the card in full each month I would avoid interest, is that correct ?

Not for cash withdrawals. Purchases are interest free if the card is paid in full, but cash withdrawals attract interest, often at a higher rate, from the day they are made to the day they are paid. Depending on the timing of the withdrawal and payment you may see interest on 2 consecutive statements for a cash withdrawal (this is known as trailing interest).

You're right to worry about accessing internet banking on a public computer. Many are infected with malware which will capture passwords and ID information.

Venusflytrap

I also have the clarity card and have set up a DD for the full amount so I never have to worry about late payments or incurring interest.

Have to say that i have not withdrawn any cash with it so don't know how interest is compounded or rolled over. Would not expect that it would amount to much on 12.9% APR (just over 1% per month), compared to cash advance charges on other standard credit cards, if it is repaid quickly or within the statement period.

trisha

jonesMUFCforever wrote: »

How much has your holiday cost? What relation is this to the fact you have a card you can use worldwide for next to nothing?

With respect, how much our holidays cost is nothing to do with you.We are retired and in our seventies and have worked hard for them.

We have always used a Nationwide Flex card for cash withdrawals until the majority spoiled it for the minority, so are comparing costs !

Fruit_and_Nut_Case

jonesMUFCforever wrote: »

How much has your holiday cost? What relation is this to the fact you have a card you can use worldwide for next to nothing?

trisha wrote: »

With respect, how much our holidays cost is nothing to do with you.We are retired and in our seventies and have worked hard for them.

We have always used a Nationwide Flex card for cash withdrawals until the majority spoiled it for the minority, so are comparing costs !

trisha, I think the question may have been aimed at welshguy_456 who started the thread, not you.

Roger1

danouk wrote: »

Not for cash withdrawals. Purchases are interest free if the card is paid in full, but cash withdrawals attract interest, often at a higher rate, from the day they are made to the day they are paid.

True, though just to be clear, the OP has an APR of 12.9% with Clarity which is also the rate he will be charged for cash. Typically, that means about 1% for a cash withdrawal, assuming that the balance is paid in full each time.

I'm happy to pay 1%-ish for cash abroad with Clarity, with the ease of having it included with my purchases and direct debit payment of the total.

dzug1

welshguy_456 wrote: »

Also we would be taking a small amount of peso with us just to get to the hotel so could I just go to my local shop where I booked the holiday and again just buy lets say £100's worth of peso with the card?

thanks in advance

Yes you could - it would be treated as a cash advance just as in Mexico. However the shop will almost certainly charge a fee, added to which you'd get their exchange rate, not Clarity's