Is the Halifax card still worth it?

tia86

Sorry if this seems really silly, im still new to using credit cards as I have always believed in sticking to limits using debit cards.

I have applied for the Halifax card because I am going to Australia and APR they have given for me is 21.9% (so the higher end).

Does this still make this card the best to have?

If i'm honest I don't really understand this APR business...I have a Santander account, so would it maybe be a good idea to have that instead, or even as well in case one card gets refused when travelling??

Sorry if these questions are obvious.

kerber0s

If i were you going to Australia and also banking with Santander is to try and get their Santander Zero credit card as there is no fees for transactions abroad off the top of my head for each transaction abroad you make with the halifax card there is a 1.75 or 2.75% fee added on top for using the card abroad. Plus the APR is lower as well

With APR basically the rule of thumb is the lower the number the cheaper it is if you dont pay it all off each month.

I am going to Australia in Feb next year and have taken the Santander Zero card purely for the purpose of that trip

dzug1

Do you mean a Halifax Clarity card?

Even if you pay interest on cash withdrawals it's still going to be less than most ways of getting cash.

jackieblack

kerber0s wrote: »

for each transaction abroad you make with the halifax card there is a 1.75 or 2.75% fee added on top for using the card abroad.

Not if Halifax Clarity
Has no fees for purchases abroad, worldwide

tia86

Thanks - it is the Halifax Clarity

I applied as I saw it was recommended in the guide...I just wanted to check that even with the higher APR it is still worth it.


This is going to sound really dumb, but if I get the Santander card too will this be ok? I know banks are probably regulating the number of cards people have. Also what happens if I don't use one.

(I do also have a 'normal' one I use occassionally from HSBC just to build up my credit rating)

Thanks everyone

jackieblack

You'll only get charged interest if you don't repay in full. If you do repay in full, the interest rate is irrelevant.

If you've got tme before you go, no harm in applying for the Santander card (if you can face the hassle of having to deal with Santander ). Always handy to have back-up card.

Post Office CC doesn't charge for purchases abroad either.

rb10

In a word, 'yes'.

Pay it off asap, and you'll minimise the interest. Even 21.9% is cheaper than most other banks will charge.

If you spend regularly on the card (and set up a direct debit to make sure that it's paid off in full every month - that way you'll spend no interest on purchases) then they may well reduce the interest rate in the future.

BeardedMan

I am considering applying for this card for my upcoming trip to the US.

Please can someone confirm that if I prepay say £500 on the card prior to my trip and then whilst on my holiday withdraw dollars equivalent to £500 I would not be charged any interest.

And given that there are no other fees this would be the most cost effecient way of getting dollars in cash at the prevailing market rate at the time of withdrawel.

If anyone has a better idea please let me know

jackieblack

It's against the t&c on most cards these days to put the balance into credit, you may find the funds get returned back to your bank.

BeardedMan

Oh, I will double check the t&c's.

An alternative would be to pay off the amount due on the day I make a cash withdrawel. I may be charged a days interest but I guess I can live with that.

Sylvia1982

BeardedMan wrote: »

I am considering applying for this card for my upcoming trip to the US.

Please can someone confirm that if I prepay say £500 on the card prior to my trip and then whilst on my holiday withdraw dollars equivalent to £500 I would not be charged any interest.

And given that there are no other fees this would be the most cost effecient way of getting dollars in cash at the prevailing market rate at the time of withdrawel.

If anyone has a better idea please let me know

I believe you are looking for a prepayed travel card, there are several out there. I used the Travelex card when i went to Malta in March. It works like a Visa credit card but you prepay with one currency that you are going to be using.