Halifax Clarity

ade1982

So as it's a Mastercard / Visa, the best way to use it is to just purchase on the card, or withdraw the cash in Euros and then use the cash? Or no difference?

YorkshireBoy

ade1982 wrote: »

So as it's a Mastercard / Visa

Why is that relevant?

the best way to use it is to just purchase on the card

Purchases are good.

or withdraw the cash in Euros and then use the cash?

If you're not bothered about incurring a few pence interest, or the hassle of making ad-hoc payments to avoid it, that's good too.

Or no difference?

Interest is charged on cash, but not on purchases.

unimaginative_user_name

One other thing to bear in mind is that the exchange rate is also very good and more than makes up for the few pence in interest on ATM withdrawals.

warnski

CLAPTON wrote: »

'no fee' doesn't mean 'no interest'


the interest is charged from the day of withdrawal to the day of payment

on your first statement the interest shown would be to the statement date only.

so on your second statement the interest is from the first statement date to the day you actually paid in full.
this is often called 'trailing interest


all CC work this way.

Ah I see, I was just worried they were gonna keep charging me interest every month for no reason!

Thanks for putting me out of my ignorance!

ic

Something important to note - whenever using the card, if you are prompted to select your own (GBP) or the local (EUR) currency, select the local currency. If you select your own currency, the card will be charged in £s, and the shop/machine will have applied their own conversion - at their own rate. Watch for shop assistants and waiters that select the option on your behalf (securing their shop or restaurant the conversion charge) - you should always be asked to check the amount before entering your PIN. check amount -> select currency -> enter pin.

reclusive46

ollyc wrote: »

Hi all, I have a quick question on cash withdrawals with the Clarity card.

We're off to The States and unsure of how much cash we will need. If we pre load the credit card with cash so we have a healthy credit and make a cash withdrawal would this stop any interest payments or would we have to make an additional payment to cover the withdrawal?

I would assume that no interest would be charged since we are already in credit but I've made bad assumptions in the past!

I realise any interest payments will be less than any other form of cash withdrawal and perhaps any exchange rates prior to traveling but keen on saving as much money as possible.

Many thanks,
Olly

Edit - just read that its more than likely against their Ts&Cs and will probably result in my card being stopped.

Probably best just to withdraw and transfer the money on line as we go to keep the balance low.

Will the balance be paid off in the order in which we spend or will all cash withdrawals be cleared last to gain more interest for the bank?

Sorry for all the questions,

Thanks,
Olly

Also bare in mind as its the USA you will barely need any cash and its quicker to pay by card (Most transactions under 50 dollars are just swiped and no signature required (Chip and PIN/Signature roll out is in the US is currently very small).

Although bare in mind that if you are visiting places like New York City or Los Angeles / San Diego (And some other places but very rare, one I can think of in Miami) some restaurants will only take American Express, so if you don't have an AmEx make sure you do have some cash. These restaurants will normally tell you when sit you down or it will be on the menu though.