Halifax Clarity Card

zagfles

eDicky wrote: »

I made one, that's why I asked how the payment would be allocated. Paid it three or four days later and would have been able to test what they told me but my DD was taken the next day so couldn't. I share your view of the incompetence of regular bank and card CS staff, but the new 'challenger' or fintech outfits such as Tandem are more likely to get it right in my experience.

Here's her words:
"Hi Richard, the system is set up to pay off any cash withdrawals before the statement balance.
Thanks"
(Me)"...and I have already made a payment of £150 to pay off the withdrawal, on the understanding that this will be allocated to the cash withdrawal before any other part the balance even if already appearing on my statement."
"No problem, your payment would have covered the cash balance and you will still see a small amount of interest in your next statement for the days we charge interest. Our system will ensure that it will request the right direct debit amount to ensure you are still considered a full payer!"

Well if she's right, they must either treat DD customers differently to non DD, or they must do some retrospective allocation of payments, eg in the example I gave earlier, £100 goes towards statement if no later payment made, or the cash advance if a later £100 is paid by due date.

Which doesn't make commercial sense for the bank at all. They have to pay the ATM provider when you make a cash advance, so to allocate payments in this way is not only complicated but likely loses them money. I can't see them lasting!

eDicky

Can I withdraw cash on my Tandem Credit Card?

If you withdraw cash in the UK, we charge a fee (2.5% or a minimum of £2.50). Interest is charged from the day the cash withdrawal is processed. There are no fees on cash withdrawals abroad, but we'll still charge interest from the day the cash withdrawal is processed. When you make a payment to your card, cash withdrawals will be paid off first before other balances to ensure your interest charges are minimised. You can withdraw up to 30% of your credit limit, and not more than £500 per day.


Can I use my Tandem Credit Card abroad?

Yes, we!!!8217;ve designed our card for people who travel. You can use your card around the world in any shop or ATM where Mastercard is accepted. There are no foreign transaction fees and you!!!8217;ll continue to receive cashback on all your purchases as at home. There are also no fees on cash withdrawals abroad, but we do charge interest from the day the cash withdrawal is posted to your account. This can take up to 5 days from when you made the cash withdrawal depending on the processing time of the ATM provider. If you make a payment after the cash withdrawal is posted to your account, it will be paid off first before other balances to ensure you minimise interest charges.

https://www.tandem.co.uk/credit-card-faqs

zagfles

eDicky wrote: »

Can I withdraw cash on my Tandem Credit Card?

If you withdraw cash in the UK, we charge a fee (2.5% or a minimum of £2.50). Interest is charged from the day the cash withdrawal is processed. There are no fees on cash withdrawals abroad, but we'll still charge interest from the day the cash withdrawal is processed. When you make a payment to your card, cash withdrawals will be paid off first before other balances to ensure your interest charges are minimised. You can withdraw up to 30% of your credit limit, and not more than £500 per day.


Can I use my Tandem Credit Card abroad?

Yes, we!!!8217;ve designed our card for people who travel. You can use your card around the world in any shop or ATM where Mastercard is accepted. There are no foreign transaction fees and you!!!8217;ll continue to receive cashback on all your purchases as at home. There are also no fees on cash withdrawals abroad, but we do charge interest from the day the cash withdrawal is posted to your account. This can take up to 5 days from when you made the cash withdrawal depending on the processing time of the ATM provider. If you make a payment after the cash withdrawal is posted to your account, it will be paid off first before other balances to ensure you minimise interest charges.

https://www.tandem.co.uk/credit-card-faqs

But also:
How is my balance paid off?

We repay balances with the highest interest rate, before repaying those with lower rates. We will always pay off existing balances that appear on your bill before newer transactions.

eDicky

zagfles wrote: »

But also:
How is my balance paid off?

We repay balances with the highest interest rate, before repaying those with lower rates. We will always pay off existing balances that appear on your bill before newer transactions.

Haha, well spotted. Let's see what they have to say about it...

eDicky

And, when I pointed out the contradictory nature of their FAQs about how a balance is paid off, Tandem say:

"Hi Richard, I can see what you mean, I've passed this conversation on to the team who produce the FAQ's and other content, so they can try to make this clearer. Thanks for bringing this to our attention."

They confirm again and it seems to be definite that cash withdrawals are always paid off first, regardless.

zagfles

eDicky wrote: »

And, when I pointed out the contradictory nature of their FAQs about how a balance is paid off, Tandem say:

"Hi Richard, I can see what you mean, I've passed this conversation on to the team who produce the FAQ's and other content, so they can try to make this clearer. Thanks for bringing this to our attention."

They confirm again and it seems to be definite that cash withdrawals are always paid off first, regardless.

I doubt they've thought it through. Give them the scenario in my post #10 and see what they say would happen. If the cash advance get paid first, then none of the balance on the bill has been paid and there'll be interest and late payment charges etc.