Using Halifax credit card as a currency card

LJC1968

Hello, I'm going to Japan in a few months for 3 weeks and was wondering if it would be advantageous to over-pay my Halifax credit card before travelling and use this as a cash card at the ATMs? That way, if there's a credit balance on the credit card, there should be no interest to pay so long as I remain in credit? The options are to 1) take cash, 2) get a currency card (I understand there are disadvantages to this (fees)) or 3) overpay my Halifax credit card and use this in the same way as a currency card (as the Halifax credit card doesn't charge fees). Any advice on any disadvantages to 3) would be most welcome! Thanks. Lisa

jackieblack

This has been discussed many times before.
Pre-loading is against the t&c and you may find your payment returned and/or account blocked.
Anecdotally, there have been people on here who have done it and got away with it with no problems.

I'd just use the card when you get there. Interest charges on cash withdrawals are minimal (some use online pmt to repay as soon as the transaction hits the account, others wait until they get home. In either case it's such a small amount that, personally, I don't think it's worth the risk.

LJC1968

OK, many thanks for that, much appreciated - I'll take your advice and just pay it when I get back.

photome

Too me the negatives regarding overpaying are too much compared to the minimal interest charged for using it properly.

Can you imagine the Halifax stance if everybody preloaded

chattychappy

I love Japan, have a great time!

Halifax Clarity is good for travelling, is that the Halifax card you have? Not all cards are the same...

jackieblack

chattychappy wrote: »

Halifax Clarity is good for travelling, is that the Halifax card you have? Not all cards are the same...

Good spot! (I just assumed )

SHill

Ensure you have direct debit set up to pay that card 1) minimum amount or 2) pay the balance off.

You can always check your spend online..

Have you contacted Halifax and let them know that you are using the card abroad?

dresdendave

Just in case you haven't been to Japan before. Many ATM's will not accept non-Japanese cards. ATM's in 7-11 stores will, and have an English option on screen. I believe ATM's in Post Offices are OK as well but you will find far more 7-11's nearby than PO's.

worried_jim

Or simplify your life and get a Monzo account.

https://monzo.com/

YorkshireBoy

To put a little perspective on it:

Assume:

1. Clarity card
2. You have the current representative 18.9% APR
3. You draw out £1,000 linearly over the 3 weeks

Maximum* interest = £500 x 0.17472 / 365 x 21 = £5.03

Is it really worth the risk of pre-loading and thereby breaching the T&Cs for a fiver?


* Will be less if a DD takes whilst you're away.

connor090

I am also confused about that.