Which of your cards is cheapest abroad?

Phil127

With reference to the above piece in today's email, my wife and I have Tesco credit cards. Whenever we travel abroad my wife telephones Tesco finance a few days before departure and notifies them of the country or countries we are visiting including any stopovers. We then use the cards as normal wherever we are. We have always received reasonable exchange rates, have never had charge for using the card abroad and we receive the Club Card points.

stilltheone

Be assured that there are charges for using your Tesco Credit cards abroad. At least 2.75% shaved off the exchange rate and cash withdrawal charges and interest if used to withdraw cash.

Phil127

I didn't say we received the best exchange rate, however it has always been quite acceptable. Unlike a Santander Credid card I mistakenly applied for previous to using the Tesco card, which boasted no charges for using it abroad. When the statement arrived the exchange rate was terrible. We never ever use the card to withdraw cash.

stilltheone

Phil127 wrote: »

I didn't say we received the best exchange rate, however it has always been quite acceptable. Unlike a Santander Credid card I mistakenly applied for previous to using the Tesco card, which boasted no charges for using it abroad. When the statement arrived the exchange rate was terrible. We never ever use the card to withdraw cash.

Completely missing the point of your post.
Tesco used to have some quite dodgy practice until recently...offering some of the worst rates in the business.
Read here

Certainly would not be on my list of best value credit cards.

knightstyle

Halifax Clarity, 1.13 to 1.11€ to the £ in June and no charges if you pay in full. Cash gets same rate but interest charged, pay immediately and only a few £ interest. Works out better than Nationwide debit of cash from Post Office who only gave 1.03€ last week.

Thomas_Crown

I used my Nationwide credit card in Europe during my holiday in May/June & I was pleased with the exchange rate used ie. up to 1.13 Euros = £1.00 & no charges.

zagfles

Phil127 wrote: »

With reference to the above piece in today's email, my wife and I have Tesco credit cards. Whenever we travel abroad my wife telephones Tesco finance a few days before departure and notifies them of the country or countries we are visiting including any stopovers. We then use the cards as normal wherever we are. We have always received reasonable exchange rates, have never had charge for using the card abroad and we receive the Club Card points.

The rates are only "reasonable" when compared to so called "tourist rates" you get at the PO or banks for changing cash, which are a rip-off.

For ATM withdrawals or spending abroad, banks don't set their own rates, they use VISA/MasterCard rates (which are pretty close to interbank) but nearly all of them mark up the rate by 3% or so. Some eg Halifax Clarity, MetroBank, doen't mark the rate up at all so you save the 3% or so.

chattychappy

I spend tens of thousands on credit cards outside of the UK, mostly outside Europe.

Tesco Clubcard is certainly loaded by about 2.75%, though it used to be worse.

Santander Zero, PO Credit Card and Nationwide Gold (Europe only) are the only cards that I have used that are genuinely loading free (pretty much on the interbank rate).

All of the above is based on my personal experience.

(I don't have Metrobank/Clarity.)

Of course it can still be worth paying the loading. Eg if you have a 0% on purchases deal you might be happy to pay the loading in return for the extended credit rather than avoid a loading only to pay a 3% BT fee to shift the balance. You get a few clubcard vouchers too.

I never phone the CC when I'm travelling - came to the conclusion it doesn't make any difference as to whether a card gets blocked.