Halifax Clarity Card-O% fees etc.

petermog

I see there are no cash withdrawal or Currency Conversion fees with the Halifax Clarity Card but interest is charged from day one. Could the interest be avoided by putting an amount equivalent to what you expect to spend before you leave for your holiday as a card payment (so the card is in credit) and draw up to this amount without fear of interest.

YorkshireBoy

The T&Cs prohibit loading the card.

opinions4u

Don't preload.

Just send a Faster Payment as soon as it appears on your statement.

The interest will be minimal.

guesswho2000

As above, and the interest will be a lot less than you'd lose in awful exchange rates should you have got the cash in the UK before going abroad

bigadaj

Interest is minuscule. Recently paid off around £600 in ATM withdrawals on average ten days after cash taken and it cost less than £1.50 all in.

jago25_98

Just a quick one to say don't use it to advance cash abroad because you will be charged. The reason you might have the impression that you won't be is because they say you won't but actually they will and this is how:

1) the ATM abroad warns you that your credit card may charge you

2) you ignore that warning because you know you can avoid that fee with the clarity card or at least keep it very low by paying off instantly or very quickly

3) what actually happens is the ATM/bank abroad charges your credit card company

4) they then pass that charge onto you! (and I think you then get interest on it... not sure)

You're kind of getting double teamed.

I don't remember reading this anywhere but I think this explains how I managed to get some large charges last month. This really should be in the MSE guide if confirmed.

guesswho2000

jago25_98 wrote: »

Just a quick one to say don't use it to advance cash abroad because you will be charged. The reason you might have the impression that you won't be is because they say you won't but actually they will and this is how:

1) the ATM abroad warns you that your credit card may charge you

2) you ignore that warning because you know you can avoid that fee with the clarity card or at least keep it very low by paying off instantly or very quickly

3) what actually happens is the ATM/bank abroad charges your credit card company

4) they then pass that charge onto you! (and I think you then get interest on it... not sure)

You're kind of getting double teamed.

I don't remember reading this anywhere but I think this explains how I managed to get some large charges last month. This really should be in the MSE guide if confirmed.

The ATM will warn you if a fee will be levied, but it will be by the ATM, not Halifax.

Some countries charge for almost all withdrawals (Thailand being one, except for those from the rare Aeon ATMs, 150 THB (£3) per withdrawal).

lisyloo

Just send a Faster Payment as soon as it appears on your statement.

If you have safe access to the internet then you can send a faster payment as soon as you have withdrawn the money and pay zero interest.

Of course whether you want to spend time on the internet when you are on holiday is up to you, the interest is often cheaper than a cup of coffee.
Also be aware of internet charges. In some hotels the charges for using the internet are more than the interest. Cruise ships are extortionate but then I guess it's often via satellite, so bear that in mind.

jago25_98

guesswho2000 wrote: »

The ATM will warn you if a fee will be levied, but it will be by the ATM, not Halifax.

Some countries charge for almost all withdrawals (Thailand being one, except for those from the rare Aeon ATMs, 150 THB (£3) per withdrawal).

This isn't how it was worded on the ATM's I used. I always read the warning. I will have to take a picture. It says "Your card issuer may charge you..." when in fact Halifax don't charge and it is the ATM that charges.

Many people see the Halifax Clarity no cash fee possibilty in the UK and the no fee abroad and put the 2 together. This needs to be clearer - yes you get no fee POS charges abroad, yes you get the possiblilty of no/low cash advance fees but I don't think it's possible to get no fee cash advance abroad because ATMS will always (I think) charge you, because it is a credit card, unlike in the UK.

lisyloo

but I don't think it's possible to get no fee cash advance abroad because ATMS will always (I think) charge you, because it is a credit card, unlike in the UK.

I'm sure this is incorrect.
I've certainly had fee free cash advances in France and Egypt.
In some countries it's very common to charge fees e.g. Thailand, USA

But there is no hard and fast rule.
I have never had an issue understanding an ATM, it's always been clear.

Sometimes it's unavoidable but it's still cheaper than other methods.
If it's widespread in the country to pay $3 for an ATM then you have no choice, the only thing you can do is make make fewer (bigger) transactions.

I personally don't think it's a big deal to pay for the facility.

grumbler

jago25_98 wrote: »

...ATMS will always (I think) charge you, because it is a credit card...

Why would ATMs discriminate against CCs? For an ATM there is no any difference. It's the card providers that normally charge for CC cash advances.