Front load credit card to avoid interest?

Aitche

I'm about to go travelling, I have a Halifax Clarity card which is great - I only use it when I go abroad, the rates are excellent, however, I was wondering if I could get round paying interest on cash withdrawn by front loading before I left?

callum9999

You can physically do that, but it might result in Halifax either blocking the card or refunding the amount you loaded on there.

I load my Clarity card but I tend to do it the same day I am withdrawing from it and for a similar amount, so it's only ever a couple of pounds or so in credit. I wouldn't want to risk leaving it in a large amount of credit for an extended period of time.

Fruit_and_Nut_Case

Aitche wrote: »

I'm about to go travelling, I have a Halifax Clarity card which is great - I only use it when I go abroad, the rates are excellent, however, I was wondering if I could get round paying interest on cash withdrawn by front loading before I left?

This should be a FAQ, if this forum had FAQs. Some previous threads...

• using halifax clarity card abroad
• Halifax clarity card
• Pre-load a Halifax Clarity credit card
• loading a halifax clarity card ?
• halifax clarity credit card

You're welcome.

eskbanker

To be fair, it is one of Halifax's own FAQs on their product info page:
http://www.halifax.co.uk/creditcards/clarity-card/#Can_I_put_money_on_my_card (link doesn't actually take you straight there, it's on the 'common enquiries' tab)

Aitche

Having read:

Can I put money on my card to increase my available credit whilst on holiday? Credit cards are not designed to be used this way. Using the card in this way breaches the product's Terms & Conditions, which state:
7.7 You must not make payments or transfer funds from another credit or store card to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money was sent.


on the halifax site, I wondered if it were possible. Never fear, I won't ask any more stupid questions.....thanks for your help.

B_G_B

Aitche wrote: »

Never fear, I won't ask any more stupid questions.....thanks for your help.

Far better to ask a “stupid” question now, than end up in a mess later.:)

YorkshireBoy

Its all about numbers really...

3...is the number of pence it'll cost you in interest per day per £100 withdrawn from an ATM if you're on their typical rate of 12.9% APR.

5...is the number of pence it'll cost you in interest per day per £100 withdrawn from an ATM if you're on their highest rate of 21.9% APR.

6...is the number of pounds it could cost you to withdraw the same £100 on your back up debit/credit card when Halifax block the card for your breach of the T&Cs.

15...is the number of pounds it might cost you in telephone calls from overseas to try and get the card unblocked.

And finally...

784...is the number of pounds I could have had since I first said "I wish I'd a pound for every time this question has been asked on here".

Aitche

Far better to ask a “stupid” question now, than end up in a mess later.:)

Yeah, that's what I thought...I've not been in here before, some people seem a bit prickly...

I've set up a quick payment from my current account (also with Halifax) in addition to the direct debit to pay in full at the end of the month. If I pay it off each time I use it after I use it, it'll never be in credit and they can hardly stop my card for being paid....I hope. I have a back up card (debit not credit) but the exchange rates aren't as good.

bigfreddiel

Slightly off topic but here goes, I keep my Amex card 1p in credit.

I rarely use the card now, and if unused for a year you get charged £20

Keeping it in credit and not used it for two years I've saved £40

Cheers fj

SnowTiger

A few points to add...

You can, of course, pay off your Halifax Clarity balance as you go, so any interest could only be pennies.

Unfortunately Halifax will only accept online payments from a Halifax bank account. Get a Halifax Rewards account and you could fairly easily make a tenner a month.

For cash withdrawls, get an N&P Classic Gold Account. It offers free use and cash withdrawls abroad via a Visa card, whereas Halifax Clarity is Mastercard. It's useful to have a card on both networks.

You can accidently pre-load a Halifax Clarity card by making a purchase which is refunded or making a payment to the card a couple of days before a Direct Debit is due. I've done both a few times, unintentionally: my card is currently about £90 in credit.

B_G_B

SnowTiger wrote: »

Unfortunately Halifax will only accept online payments from a Halifax bank account. Get a Halifax Rewards account and you could fairly easily make a tenner a month.

I agree, may as well go for the extra free monthly benefit by using the Reward current account.
You can make online payments from non Halifax accounts if you wish to though.
http://www.halifax.co.uk/creditcards/help-guidance/existing-customers/
Check under the Making Payments tab. From another bank section.