Halifax Clarity Credit Card & TravelMoneyMax.com

bongoali

Hi All,

I am looking to buy some foreign cash for my vacation.

This website
http://travelmoney.moneysavingexpert.com/

Says that "After ALL charges (incl delivery)," the Halifax Credit Card would be the best method (i.e. take cash out of ATM while abroad).

Does anybody know if the 12.9% interest on cash withdrawals included in the "ALL charges" on the travelmoneymax tool? i.e. does the tool assume you pay in full at the end of the month and get charged one month;s interest.

Please help if you can.

Thanks

Herbalus

Strictly speaking the charges there are associated with cash so don't apply to the Halifax. That said, it also means Halifax doesn't have any that might apply to cash, and just has the interest. Any quote on there is just a guide as exchange rates will be different when you actually pay for things.

12.9 APR is 1.0162% per month, so if you took out £100 worth of euros/dollars/gambian pennies and didn't pay it back for a month, you would be charged 1.0162%, so £1.02 pence. That's a lot better than taking cash, and if you repay sooner then that cost is less.

Obviously you need to know if applying for card is right for you.

bongoali

Thanks Herbalus.

1% per month sounds reasonable!!! Even if I factor in the interest to the travel money tool, the cash via the Halifax credit card is the cheapest option.

Cheers...