cheapest money abroad

jimarnold_2

I have 2 zero rate overseas credit cards - which give me a better rate than i can get at bureau de change
one is a Halifax clarity which doesnt charge for ATM withdrawlswithdrawls either - just interest
If I put all over the counter payments on one card and just use the clarity to withdraw from ATMs then transfer the money from my bank account - or even prepay - will I effectively be getting the better rate for cash ?
And pretty hassle free

bagand96

Yes that's correct.

Pre-loading the Clarity is against the conditions of the card (it is a credit card after all). Not sure what Halifax would do but if you pre-loaded the card with a large amount then they could in theory reverse the transaction.

Just withdraw cash as you say, then send the money to the card once it's appeared. The interest even for for a few days would be tiny, and even taking that into account you'll still be getting a better rate.

If you do use the Clarity for purchases, as long as any cash withdrawals show on the account, then money you send will pay off the cash transaction first - credit cards must allocate funds to the most expensive debt first - which is the cash as it attracts interest straight away. That said, splitting cash and spending over 2 cards is a great way to keep things simple.