nationwide clarity credit card ?

flopsy1973

hi the above card has been scored the best for foreign currency with no fees ? bit confused though should i be using it to purchase my currency here before i travel or use it once i get to iceland and then use it to withdraw cash or do i just stick to changing cash in bureau de change ? many thanks

gardner1

flopsy1973 wrote: »

hi the above card has been scored the best for foreign currency with no fees ? bit confused though should i be using it to purchase my currency here before i travel or use it once i get to iceland and then use it to withdraw cash or do i just stick to changing cash in bureau de change ? many thanks

think you mean Halifax clarity card
use it to withdraw cash when you get there

flopsy1973

yes sorry halifax card so what will i pay on the card using it to take cash out ?

gardner1

flopsy1973 wrote: »

yes sorry halifax card so what will i pay on the card using it to take cash out ?

not a lot....couple of quid for 2 weeks of cash withdrawals and you get best possible rate

[Deleted User]

I agree with Gardner - we use one when we're abroad and as he says it's "not a lot" - I can't remember exactly how much as we haven't been abroad for 18 months or so.

opinions4u

£1 interest per £100 cash withdrawn and left outstanding for a month, assuming a 12.9% rate.

Clear the balance in full 24 hours after withdrawal and the cost is 3p per £100.

Double this for a 21.9% rate.

Figures are a general guide. Make sure you tell them when and where you will be overseas before use.

flopsy1973

so would it be better to use the card here to take the cash out or use it in Iceland ? surely I wont be able to repay the balance 24 hrs after withdrawing cash on it ?

simongregson

You will be much better off using it to get cash from the machine in Iceland, as you will get a much better exchange rate. This is the case even if you leave paying it off until you get back.

You can pay off cash withdrawals as soon as you make them by logging onto your internet banking while you are away, the difference is 'not a lot' over a week or two away however.

Do not be swayed by bureau de changes in the UK saying 'no commission' - look at the exchange rate and comapare it with https://www.mastercard.com/global/currencyconversion/ which will give you the rate you will get from Halifax, you will see you lose 5-10% at most bureau de change.

photome

flopsy1973 wrote: »

so would it be better to use the card here to take the cash out or use it in Iceland ? surely I wont be able to repay the balance 24 hrs after withdrawing cash on it ?

Use it to withdraw from ATM abroad but make sure you choose the local currency without conversion.

Don't worry about paying off online while away. (You could of course pay it off 24 hours later online)

Pay off as soon as you get home and you will only pay a couple of pounds interest.

I withdrew $1600 in US a week or so ago.

I got 1.622 to the pound when best high street exchange was about 1.58. I paid off when I got home and it cost me £1.94 in interest

F_Bear

ive a clarity and it was the best thing i could have got for goin away. flying to malta for a week tomo and havnt any local currency to buy as will draw money out as soon as we get there.......pay for meals on a card like you do at home...........no worries about been robbed/losing money etc then just pay it off when you get home.

soon everyone will be using cards abroad, gone are the days of travellers cheques!