Credit Card Abroad

Traceywacey

I am going to Lanzarote in June. I watched the Martin Lewis show last night - he advised the best way to spend money abroad is with a credit card and he suggested the Post Office. I already have all the spending money in savings. My question is - is it possible to load credit onto the credit card so you don't have to pay interest? To explain - I want to add all my savings onto my new credit card, say £700, so I will be in credit and then when I'm away I can spend the credit without being charged any interest. Is this even possible?????? I cannot find an answer anywhere on the web.

Thank you in advance.

reclusive46

You don't need to do that.

On a credit card you don't pay the interest if you pay it off in full on the payment date at the end of the month.

So just set up a direct debit to pay the card in full and move the savings into the current account before the payment is due.

You won't be charged interest that way.

Just to be clear, you cannot load a credit card. This is against the terms and conditions.

grumbler

reclusive46 wrote: »

On a credit card you don't pay the interest if you pay it off in full on the payment date at the end of the month...

On purchases only. The OP has not made it clear what kind of 'spending' it will be.

And, BTW, Halifax Clarity is better than PO if the OP can get it.

• Cheap Travel Credit Cards

reclusive46

grumbler wrote: »

On purchases only. The OP has not made it clear what kind of 'spending' it will be.

And, BTW, Halifax Clarity is better than PO if the OP can get it.

• Cheap Travel Credit Cards

Indeed, I wouldn't be making any withdrawals on the post office. The Clarity is better.

If you live in London the Metrobank current account might be better.

Also if you've never had any credit cards before, your unlikely to be accepted for the Halifax or Post office credit card.

Traceywacey

Thank you - I had just found that Halifax Clarity is better and they also provided the answer. Thank you anyway.

Reclusive46 - 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.

This is only if you are using the Halifax Clarity card abroad at an ATM - I see I did not mention that in my 1st thread - I wish to withdraw some money from an ATM and was aware I would pay interest. Thinking about it now - I won't need too much cash so interest should be very little.

Thank you everyone for your help - really appreciate it.

chattychappy

Don't rely on any one method working. CCs have a habit of getting blocked when used overseas (regardless of whether you tell them in advance of your travels). Take backups - even if more expensive - eg a "normal" credit card that charges a loading. That will still be cheaper than getting stranded somewhere/using dodgy money changers/Western Union etc.

reclusive46

Indeed and Halifax seemed to have some sort of issue with half the merchants on my last holiday in Malaga. The card machine would just say couldn't contact issuer of card (And the same in Spanish) but another MasterCard I carry and My American Express worked just fine.

bigadaj

OP it might be tight in getting a Halifax clarity card if you apply now and go in June, took well over a month, possibly six weeks, for mine when I applied late last year.

I only use it abroad and it is excellent, used it on two trips so far and no problems, only initial problem as I applied for a trip in November and it didn't arrive, or at least card, pin etc until my return.

Used it for cash withdrawal in Spain two weeks ago, money taken out on Thursday, about £120, returned on Sunday, and paid by Internet banking faster payments on the Monday. MasterCard exchange rate used and incurred an interest charge of £0.20, at their better rate of 12.9%.

Traceywacey

Thank you again.

I have just applied and application was accepted and should be with me in the next couple of days. If it does take 6 weeks - it's fine because we're not going until the middle of June. Have set up DD to pay off the full amount and will remember to inform them when we go abroad. And, i'll be sure to remember to take one of my other cards with me too and let the bank know.

Thanks so much for all your useful advice.

bigadaj

Traceywacey wrote: »

Thank you again.

I have just applied and application was accepted and should be with me in the next couple of days. If it does take 6 weeks - it's fine because we're not going until the middle of June. Have set up DD to pay off the full amount and will remember to inform them when we go abroad. And, i'll be sure to remember to take one of my other cards with me too and let the bank know.

Thanks so much for all your useful advice.

In relation to the direct debit, I did the same but have more recently cancelled it. The problem I found was that with cash withdrawals you end up paying them off a couple of days after you get home to minimise interest. If you have a dd set up then it can take double the payment, and I actually went into credit by a couple of hundred.

I pretty much only use this for trips abroad so keep separate and just make sure I pay off within a day or two of my return.

This card is notorious for the time to issue but you should be OK for mid June.

Traceywacey

bigadaj wrote: »

In relation to the direct debit, I did the same but have more recently cancelled it. The problem I found was that with cash withdrawals you end up paying them off a couple of days after you get home to minimise interest. If you have a dd set up then it can take double the payment, and I actually went into credit by a couple of hundred.

I pretty much only use this for trips abroad so keep separate and just make sure I pay off within a day or two of my return.

This card is notorious for the time to issue but you should be OK for mid June.

Of course - I'm such and idiot. I will be paying it off immediately and only using the card for holidays so no idea why I set the DD up!!!! I'll get it cancelled - Thank you