Halifax Clarity - Travel Cash Abroad WARNING

RRRRodgA

Well to be fair Halifax advertise the Card as No Fees for Foreign Cash Withdrawls and Foreign Purchases. The key word here being Fees, these are always seperate to any Interest Charges and on Cash Withdrawls on all Credit Cards you pay interest on them the day you make a cash withdrawl.

What you will find however is despite the interest charge of approx 1.5% per month the exchange you recieved your cash out far outweighs that.

For example the exchange rate on the Mastercard today for $US is 1.558101
Tesco online currency is 1.508900

So after factoring in the approx 1.5% your rate works in at 1.534729

I find this is really still a good deal

I know you feel this is hidden away so to speak but it is quite early in the summary and the terms and conditions. However the way they advertise it is technically correct as they have eliminated the Fees for withdrawing cash abroad. Interest works just like any other credit card.

YorkshireBoy

RRRRodgA wrote: »

I know you feel this is hidden away...

For people that don't 'do' T&Cs and summary boxes, Halifax also provide a very useful "common enquiries" section on the pre-application page...

How much will I be charged for withdrawing cash abroad?

You will not be charged a fee by us for withdrawing cash from an ATM (cashpoint) anywhere in the world. Some ATM providers charge a fee, but this should be made clear to you at the time of withdrawal and is unfortunately outside of our control. You will still be charged interest from the date that the withdrawal is made, but unlike some credit cards which charge a higher rate of cash, you will be charged the same competitive rate as if you had made a purchase.

http://www.halifax.co.uk/creditcards/low-rate-no-fee/clarity-card/?pagetabs=4#How_much_will_I_be_charged

Bob_the_Saver

seriousDFW wrote: »

If you can afford to withdraw £1k on holiday, £17 should be peanuts.

Get a Metro bank debit card, pay nothing - cheaper than peanuts.

Bob_the_Saver

tomsco wrote: »

So if you cancel it, what card will you be taking next time you go on holiday? Because I'm guessing if you take another card it will probably charge a cash withdrawl fee.

See the above post

tomsco

Bob_the_Saver wrote: »

See the above post

He may complain that Metro Bank hid somewhere in the T&C's that they had to spend £17 to get to London to sign up for it.

ahxcjb

This is your own fault. It's clearly stated in the T&C's. Don't blame Halifax for your own failings.

Bob_the_Saver

tomsco wrote: »

He may complain that Metro Bank hid somewhere in the T&C's that they had to spend £17 to get to London to sign up for it.

Yes but you must offset that against the free dog biscuits they can give you, so if you ARE in London, poodle down or get a Rover ticket and open an account.

joewa

HI,
we are going on honeymoon next month and i have been accep0ted for this card
Can i just confirm that if we use the card abroad (no cash purchages ) and clear it off after first month, we dont get charged interest ????

Roger1

joewa wrote: »

Can i just confirm that if we use the card abroad (no cash purchages ) and clear it off after first month, we dont get charged interest ????

I'm not quite sure what you mean by using the card with no cash purchases.

If you settle your statement in full, you pay zero charges and fees for purchases and you pay interest for cash withdrawals working out at just over 1% a month if on the standard rate of 12.9% p.a. If using the card to obtain cash, you may end up with some residual interest on the next statement, depending on dates.

I once had £0.01 to pay because of this.

opinions4u

joewa wrote: »

HI,
we are going on honeymoon next month and i have been accep0ted for this card
Can i just confirm that if we use the card abroad (no cash purchages ) and clear it off after first month, we dont get charged interest ????

As long as there are no cash advances and you clear the alance in full between statement date and due date you'll pay no interest.