Help understanding Clarify CC

Hello123_2

Hi,

I have also posted in the holiday forum...I am having trouble understanding how the Halifax Clarify CC charges work?

If withdraw cash in UK, cost =
If withdraw cash abroad, cost =

If spend on card (eg pay for a meal) in UK=
If spend abroad, cost =

I plan on paying it all off in full (only want to use for holidayanyway) but won’t be able to pay it until we are home (3 weeks later).

We are planning on travelling to Africa & Indian Oceanif that makes any difference?


Hope someone can help please!!!

Fruit_and_Nut_Case

Hello123 wrote: »

Hi,

I have also posted in the holiday forum...I am having trouble understanding how the Halifax Clarify CC charges work?

FYI It's "Clarity".

Drp8713

My girlfriend has just been accepted for one a month before out holiday.

From what i can see if you spend on it home or abroad and pay in full at the end of the month then no charges or interest apply

If you withdraw cash abroad there are to charges but you accrue interest right away, however is unlikely to be a huge amount, im sure if you give your apr we could work it out.

Hello123_2

Fruit_and_Nut_Case wrote: »

FYI It's "Clarity".

Sorry, I was thinking I hope someone can clarify this haha!

I havn't actually applied yet but the rate will be 12.9%, 17.9% or 21.9%

what are the withdrawal fees?

Thanks in advance

bigadaj

No fees which is the big plus.

You pay the MasterCard rate on exchange which is as good as the ordinary person can get to the spot rate.

No further charges on purchases and on cash you just pay interest from the date of withdrawal. So if you get the best rate of interest then paying back one month after withdrawal means you pay 1%, very hard to beat.

You need to log onto Internet banking and pay on your return, don't wait for a statement as this just means delays and more charge. Some people can do this whilst overseas but for me the risk would be too great, we had our e-mail account hacked whilst on holiday in Costa Rica earlier this year, and the idea of doing banking or similar is too risky for me, when it would only. Cost £1 per £100 withdrawn to wait.

Hello123_2

Thanks for your reply.

So if i withdraw £1000 in Africa and pay it back 3 weeks later what would i be charged?

If i just spent on the card but no cash withdrawal, how would this differ?

Thanks so much

F_Bear

i got the 21.9% APR and my credit rate is pretty good.

used for 350euro withdralws in menorca and 700euros of purchases and got 1.16/7 euro to the pound over 2 weeks. paid on the day i got home and paid about £2 interest.

well worth it, no hassle and not worrying about getting robbed carry lots of cash.

JUST REMEMBER TO ALWAYS PAY IN THE LOCAL CURRENCY THO!! WHEN THEY ASK IF YOU WANT WITH OR WITHOUT CONVERSION ALWAYS SELECT WITHOUT.

this will mean u'll get the mastercard rate of the day. with conversion the bank/merchant your using will use their rate of the day, which will be rubbish

guesswho2000

As F_Bear I got 21.9%, however on cash this is great, considering the next best, being Santander Zero, which is not available to new customers, charges 27.9 on cash - bear in mind purchase rate doesn't matter if paid in full!

£1,000 withdrawn anywhere would cost (for an entire month) between £1,010 & £1,020 (including the original £1k, obviously) - ensure you ALWAYS withdraw, or indeed pay, in local currency - never sterling.

If you just made purchases with the card, with no cash, and repaid in full when the statement rolled in, you'd pay no interest or commission whatsoever.

Hello123_2

I just applied and got declined...no idea why!!!! Can't believe it :-(

Have got great credit history no late payments, no defaults, full time employed, homeowner etc?

Now what's the alternative for spending abroad as we need 3 types of currency and i'm worried about carrying a lot of money!

YorkshireBoy

Hello123 wrote: »

Now what's the alternative for spending abroad as we need 3 types of currency and i'm worried about carrying a lot of money!

First things first, you should try and find out why you were declined before racking up further searches.

1) Check your credit files (with all 3 CRAs) for any errors or omissions.

2) Ask Halifax. They may give a clue, ie overindebtedness, ID failure, etc. Then again, they could say, simply, "you failed our credit score"...meaning it could be anything!

As to alternatives, start here...

http://www.moneysavingexpert.com/travel/cheap-travel-money

Drp8713

New CapitalOne aspire world? Up to 1.25% cashback and no foreign load fees. Not so good for cash though.

Also http://www.mytravelcash.com/travel-money-products/multi-currency-prepaid-credit-card.html?refcode=mytwstd0003&offer=mtcgtd

I thought this looks good, not mentioned on many best buys though so maybe exchange rate is not the best