Travelex Supercard vs Halifax Clarity card

reclusive46

Cisco001 wrote: »

What is the charge if you link in to Visa debit card?

Nothing for a debit card.

Si67

Cisco001 wrote: »

What is the charge if you link in to Visa debit card?

Presumably nothing, otherwise it would make Supercard totally pointless!

Cisco001

reclusive46 wrote: »

Nothing for a debit card.

So the best thing to do is, link that card with debit card in UK.

Once you arrive, find the nearest free ATM, withdraw local currency.

Then, find somewhere with free wifi or mobile roaming to switch to your cash back credit card through app.

It is because Halifax Clarity charge cash in advance fee.

reclusive46

Cisco001 wrote: »

So the best thing to do is, link that card with debit card in UK.

Once you arrive, find the nearest free ATM, withdraw local currency.

Then, find somewhere with free wifi or mobile roaming to switch to your cash back credit card through app.

It is because Halifax Clarity charge cash in advance fee.

From what has been said on twitter, I think you may be able to link one card for cash as the primary and one primary card for purchases, so that might not even be necessary.

Si67

Cisco001 wrote: »

It is because Halifax Clarity charge cash in advance fee.

No it doesn't!!! Nearly all credit cards charge a cash advance fee, but certainly not Clarity.

It does charge a low interest rate from when the withdrawal is made until it's repaid, but typically only 12.9%APR, or 1.075% per month, and even that miniscule amount of interest can be reduced or even eliminated by repaying early.

Cisco001

reclusive46 wrote: »

From what has been said on twitter, I think you may be able to link one card for cash as the primary and one primary card for purchases, so that might not even be necessary.

In that case, the only time need to use clarity card is when one need to purchase high value things which need S75 protection...

Cisco001

Si67 wrote: »

No it doesn't!!! Nearly all credit cards charge a cash advance fee, but certainly not Clarity.

It does charge a low interest rate from when the withdrawal is made until it's repaid, but typically only 12.9%APR, or 1.075% per month, and even that miniscule amount of interest can be reduced or even eliminated by repaying early.

Unfortunately, mine is 21%. Call them earlier, they are reluctant to lower it.

Even you can eliminated by repaying early, what better than you have a card not charge it at all?

Si67

Cisco001 wrote: »

Even you can eliminated by repaying early, what better than you have a card not charge it at all?

True! In that respect the Supercard wins on convenience, although if you have a smartphone (which you need for a Supercard anyway) it's very easy to make a payment to Halifax via mobile banking.

grumbler

Mastercard vs Visa for using abroad - which wins? - a new MSE article

Si67

grumbler wrote: »

Mastercard vs Visa for using abroad - which wins? - a new MSE article

Thanks for that. I wonder if this thread prompted the article (U-turn)! We certainly didn't get the credit though.


So, MasterCard is better, and sometimes the difference is significant (as I found with that sample of 12th May).


One observation I would make about the article is that is mentions the Wholesale rate, whereas I thought MasterCard users (especially Clarity) received the Interbank rate. Could anyone clarify this?

Just to put the Halifax Clarity card interest into perspective...
With the average difference being 0.6%, this would give the Halifax Clarity user about 18 days to repay the money withdrawn from an ATM before the interest makes Clarity as expensive as Supercard*.


*Regarding interest, if you have the higher rate Clarity card, 21%, then the payback time to break even is reduced to about a week.