Euro-Denominated Credit Card advice.

vava_voom

Hi, I am looking for advice on whether this facility exists. I can't see on my existing c/cards websites etc. Given I'm a resident of the UK.

I currently have a :

Halifax Mastercard
British Airways Premium Amex (with annual fee)
Virgin/MBNA American Express (with annual fee)

However, I use my cards quite frequently abroad - namely in Europe. So I'd like to know whether its possible to get a credit card but that is Euro-denominated. I get quite hefty non-sterling transaction fees attached each time, and I'm looking for ways to avoid these.

Does anybody here have one?

Thanks in advance.

jonesMUFCforever

Halifax clarity?


Any Euro card would have to be paid back in Euros - there would be a charge to send money from a UK Bank to Euroland.

vava_voom

I guess paying off the balance each month in a bank is not possible then. I get currency changed at near spot-rate through work, so I can get euros quite easily at pretty much the e/rate.

I just assumed that you would be able to get a Eur or USD credit card, albeit residing in a UK country.

I'll enquire next time i'm actually in Natwest, Halifax or Santander. Maybe i'm just trying to save money thats not possible to do.

grumbler

vava_voom wrote: »

However, I use my cards quite frequently abroad - namely in Europe. So I'd like to know whether its possible to get a credit card but that is Euro-denominated. I get quite hefty non-sterling transaction fees attached each time, and I'm looking for ways to avoid these.

And what is your plan for paying € balance off from a £ account without fees?

A recent thread: Euro credit cards
MSE article: Cheap Travel Cards

jonesMUFCforever

You can get a Euro card but it will be an offshore card or one from a Euro country.
The problem you will have is paying the card back in Euros as you will have to purchase them through someone willing/able to send them in a format that can be accepted by the issuer - You will pay a bank for an IMT and who knows what you will end up paying if rates go against you.
I can see no real advantage unless you are a big business.

NiftyDigits

vava_voom wrote: »

I guess paying off the balance each month in a bank is not possible then. I get currency changed at near spot-rate through work, so I can get euros quite easily at pretty much the e/rate.

I just assumed that you would be able to get a Eur or USD credit card, albeit residing in a UK country.

I'll enquire next time i'm actually in Natwest, Halifax or Santander. Maybe i'm just trying to save money thats not possible to do.

Your plan is not a good one. Halifax Clarity gets you the 'spot rate' in the first place. So no reason to go through the extra hoop.

If in London, you can obtain a Metro Bank debit and credit card. No charges within the EEA.
Saga Platinum, Post Office Mastercard. All CCs that get you the full Mastercard 'spot rate'.

guesswho2000

NiftyDigits wrote: »

Your plan is not a good one. Halifax Clarity gets you the 'spot rate' in the first place. So no reason to go through the extra hoop.

If in London, you can obtain a Metro Bank debit and credit card. No charges within the EEA.
Saga Platinum, Post Office Mastercard. All CCs that get you the full Mastercard 'spot rate'.

Agree with this, the only benefit OP'd have would be if the exchange rate suddenly changes to your advantage between the purchase and repayment - if you spend on a € denominated card and repay in £, then you'll win, but you'll also lose if it swings the other way.

In reality, a day to day shift of such proportions is unlikely, so using a £ denominated card, which charges no fees, to pay in € (remembering to refuse dynamic currency conversion!) is your best option - you can repay it in £, of course!

Amex offer US$ and € charge cards, but these must be repaid in the currency of the card - so you can (I assume) pay them with your debit card, as normal, but you'll be stung for the forex fee there (unless you have a fee free one, N&P being the only one now available UK-wide, to my knowledge (Metro would be ok for the € one)).

EDIT: In addition to Nifty's suggestions above, in case you're a Nationwide account holder, the Select credit card is also forex free for purchases only, and the Flexplus debit card for cash withdrawals only (I have both as backups to my Halifax Clarity card).