Travel credit cards

DCFC79

Pegasus1992 wrote: »

Same here, my score with Experian is 999 out of 999 but I was still only offered 17.9. No idea how you're supposed to get 12.9!! Feeling quite insulted I emailed them to tell them it didn't matter anyway as I always pay it off and am only using them for the overseas benefits lol. No reply received.

Well if your Experian score is a triple 9 then surely you should be getting decent rates, I'd complain to Experian.

PeacefulWaters

Pegasus1992 wrote: »

Same here, my score with Experian is 999 out of 999 but I was still only offered 17.9. No idea how you're supposed to get 12.9!!

Perhaps Experian would offer you such a rate.

Creation may well score differently to Experian. At least they give you the advantage of having a credit card in their product range. It's much more use than a random number generator in my view.

Feeling quite insulted I emailed them to tell them it didn't matter anyway as I always pay it off and am only using them for the overseas benefits lol. No reply received.

What a waste of your time.

NiftyDigits

adindas wrote: »

But I am talking about money withdrawal on ATM.

Also if people are just there for a short trip 1-2 days (say). Are people really bother to visit the bank for just 150TBH, not to mention to find them ??? Also what about evening, weekend, bank holidays when the banks are closed ??

Bank exchange booths are still open.

coddyycoddyy

Sorry I'm confused!

When using lots of these credit cards for withdrawing cash abroad it says you will be charged interest until repaid in full.
-Does this mean if you don't pay in full as normal or daily until you pay?
-If daily, do you have to pay all off to clear the cash withdrawal (assuming you've paid by card too) based on first in, first out, or just the amount you've used in cash?

Finally, withdrawing cash on your credit card has a negative impact on your credit rating - is that the same when using these credit cards abroad?

Thank you in advance!

Closer

I'm new to this forum, but I've just been approved on the creation card at 12.9% with a £7500 credit limit, so it is possible.

RMcD94

Wouldn't it be better to just open a bank account with a European bank and transfer money over? Am I missing something there's no discussion on that nor even a hint about it.

Why couldn't you open a bank with say Deutsch Bank, get all their positive benefits and you can pay in Euros and the only time you have to worry about the exchange rate is when you transfer money from your UK Account to the Euro one.

NiftyDigits

RMcD94 wrote: »

Wouldn't it be better to just open a bank account with a European bank and transfer money over? Am I missing something there's no discussion on that nor even a hint about it.

Why couldn't you open a bank with say Deutsch Bank, get all their positive benefits and you can pay in Euros and the only time you have to worry about the exchange rate is when you transfer money from your UK Account to the Euro one.

Why don't you do the research and then post the results?

eDicky

coddyycoddyy wrote: »

-Does this mean if you don't pay in full as normal or daily until you pay?
-If daily, do you have to pay all off to clear the cash withdrawal (assuming you've paid by card too) based on first in, first out, or just the amount you've used in cash?

Daily interest is incurred on cash withdrawals.

Any payments made to clear your balance are used in this order:
1. Balance that has already been statemented.
2. Cash withdrawals.
3. Any balance not yet statemented.

So if you have an unpaid balance from your last statement, you need to pay that as well as your cash withdrawal (equivalent GBP amount) in order to clear it.

The effect of foreign cash withdrawals on your credit rating is generally considered to be insignificant, if you activity in general indicates good financial habits.

koru

RMcD94 wrote: »

Wouldn't it be better to just open a bank account with a European bank and transfer money over? Am I missing something there's no discussion on that nor even a hint about it.

Why couldn't you open a bank with say Deutsch Bank, get all their positive benefits and you can pay in Euros and the only time you have to worry about the exchange rate is when you transfer money from your UK Account to the Euro one.

As I understand it, the Mastercard wholesale exchange rate is about as cheap as you can get. If so, then transferring to a euro bank account would not get you better rates. It would mean you can transfer some cash into euros in advance, if you think the rate is going to worsen, but it is very difficult to reliably predict rate movements. Overall, this sounds like a lot of hassle for no obvious benefit.

a_semkin

Re Creation Everyday credit card: my friends took it last month specifically for foreign cash withdrawals. They are now abroad and it only allows them £300 a day (which is low compared to Halifax Clarity £500 daily limit, but at least this info was clear from the application). However there seems to be one more limit for cash withdrawals - it's only £500 A WEEK.

My friends found out when they couldn't get cash on their 3rd day of stay, and started calling Creation call centre only to be told about weekly limit. They even settled their previous withdrawal via internet banking - no, still need to wait for a week to get the next portion of money.

So, Creation is not exactly a good one, if you are going to a country where most payments are done in cash.