Halifax Clarity

FiftyPents

Hi all,

I'm going to America next month with my partner, and we have around 1300 pounds to take with us for a weeks spending.

I've seen this halifax clarity credit card, and was thinking I could spend/withdraw using this card whilst over there, and then pay it off when back? Or could I even pay my money onto the card beforehand?

Is this the best option for getting the best exchange rate when going abroad?

Doshwaster

See this thread; https://forums.moneysavingexpert.com/discussion/comment/65369912#Comment_65369912

FiftyPents

Doshwaster wrote: »

See this thread; https://forums.moneysavingexpert.com/discussion/comment/65369912#Comment_65369912

Thanks, so that answers the 'pre-loading' question.

So is this the best advised option?

knightstyle

As has been said many times you can arrange payments from your bank to your Clarity card to take place in the future, you choose the date.
So you arrange for a payment to be made a few days after you arrive, then withdraw cash from a free machine in the days before the payment is made. Then you will only pay a few pence in interest.
Oh don't forget to tell Halifax the dates of your visit.

Katiehound

Absolutely tell Halifax when and where you will be away- they really like to know as the card may be blocked otherwise!

Wammer

You will get the full Interbank rate. I used it recently to pay for something in USD and got a rate of $1.68.

Assuming you get the 12.9% rate, even if you withdrew the whole £1300 on your first day in cash, it would only cost around £3.20 in interest if you paid it back as soon as you got home. Obviously if you used the card to pay for goods and only withdrew some cash it would be a lot less.

YorkshireBoy

Wammer wrote: »

Assuming you get the 12.9% rate, even if you withdrew the whole £1300 on your first day in cash, it would only cost around £3.20 in interest if you paid it back as soon as you got home.

Better than that...it's only £3.04 for a week (it looks like you used the APR, where you should use the annual non-compounded rate - which, at 12.2%, is 12 x monthly rate of 1.0162%).

And even better still, if there's the usual 2 delay between the transaction date and the posting date, for 5 days it'll be a very low £2.17

Wammer

I always use the APR just to get a rough idea, knowing it will be slightly less. I didn't know what the non-compounded rate was so will try to remember that for future, but don't count on it.

littlereddevil

We just got a new HC card and used it all over America. I didn't know to tell them I was away but had no problems at all

Fortyfoot

I load my card before I go and never tell them.
Fortyfoot

photome

Fortyfoot wrote: »

I load my card before I go and never tell them.
Fortyfoot

great if it works, not so good if they block your card while you are away.

For the sake of a couple of quid is it worth it