Creation Credit Card - Going Abroad

alibali65

Looking to get one of these for a trip later in the year.

One question is, can I avoid interest on cash withdrawals by loading the card before and thus when I withdraw money its allready there to be taken off?

A_T

I think that is generally frowned upon and might well breach terms and conditions.

If you take your smartphone with you just use a banking app to pay it off. The interest will be peanuts.

alibali65

Thanks will check the T&C's Agree wit using the app I should be able to pay off the withdrawal within hours.

Yawn

One thing to note is that it may take a few days for the sums to appear in your Creation account. At least that's something that I've noticed. I guess they need to make their money somehow?

expl0rer

Yes, it takes a few days for the sums to appear, and interest is incurred over those few days you can't do anything about. But it's not much.

When I withdrew the equivalent of £210 in Costa Rica, the out-of-control-interest was only £0.18, so less than 0.1%. My APR is 17.9%.

Ben8282

Pre-loading the card is not a good idea.
Unless you are planning on making really massive withdrawals, is it really worth bothering about? If you withdraw £100 and leave it outstanding for a whole month it would only cost you about £1.60 at the most on a standard 18.9% APR card.
Remember that there are limits placed on how much may be withdrawn in cash abroad. Some holders of these cards have reported quite restrictive maximum limits.
If you do want to save interest by making payments as you go remember that any payment made to the card will be applied firstly to any statemented balance before being applied to unstatemented transactions. So your previous month's statement must have already been paid in full if you intend to pay off the cash withdrawals before they appear on a statement.
Also forget the 'paying off the withdrawals in hours' idea. You will need to wait until the transaction has actually appeared on your account in order to know the exact GBP amount to pay.

metrobus

If you withdraw eg 300 Euros you know that's around £250 pay that instantly and then the remainder (a few quid) when it appears a few days later.