Halifax Clarity card vs Revolut

cogito

I have one of these and use it extensively when travelling because of the advantageous exchange rates. Some friends who will be travelling with me shortly have Clarity cards and Revolut cards.

I am struggling to see any advantage in having both and wonder if I'm missing something.

eskbanker

Regardless of any specific variances between the benefits and features of these products, it's always a good idea to have multiple means of payment available to you, especially when travelling abroad.

This can offer protection against failures within individual card companies, payment networks, declined transactions, loss, theft, etc....

badger09

eskbanker wrote: »

Regardless of any specific variances between the benefits and features of these products, it's always a good idea to have multiple means of payment available to you, especially when travelling abroad.

This can offer protection against failures within individual card companies, payment networks, declined transactions, loss, theft, etc....

Couldn't agree more.

I have Halifax Clarity with decent credit limit as my main card when abroad, and Post Office with lower limit as backup.

Due to their error, Halifax cancelled my card 2 days before I flew to Thailand. I discovered this on arrival at my hotel when the card was declined. I was able to use the backup card, and the limit would have been enough to cover normal expenditure.

However, I had to be admitted to hospital and they insisted on a substantial deposit. Fortunately, husband has another card, though the exchange rate isn't as favourable.

Never safe to rely on just one source of funds;)

zerog

Halifax Clarity uses the mastercard exchange rate 1-3 days after the day you spend the money.

Revolut uses an interbank exchange rate on UK working days and marks up the rate on holidays. You can also convert currencies at your leisure, if you want to time the market.

Halifax is a bank which you can phone up and speak to for free using Skype from anywhere in the world. If they can't resolve your complaint, you can go to the Financial Ombudsman.

Revolut is a fintech startup with poor customer service that you can only message through the app.

Halifax Clarity transactions are subject to Section 75 of the Consumer Credit Act, and can be charged back through Mastercard.

Revolut is a prepaid card that you need to load up with funds before you spend.

eDicky

cogito wrote: »

I am struggling to see any advantage in having both and wonder if I'm missing something.

Yes, you will be struggling a lot more if you travel with only one card and encounter any problem or loss...

OceanSound

Have both!

'you can't have your cake and eat it' simply doesn't apply here.

Best to take at least two cards with you when travelling. From different banks/fintechs (e.g. Halifax, Barclays, Revolut, Fineco). Also try and have at least one card from Mastercard and one card issued by Visa. Any issue with the card operator (Visa or Mastercard), you're covered. Operator networks rarely go pear shaped, if they do, come back quickly (become not pear shaped), but you're covered because you have the other card.

cogito

eDicky wrote: »

Yes, you will be struggling a lot more if you travel with only one card and encounter any problem or loss...

I always carry at least two and usually three cards as back up. I was really just trying to evaluate Revolut as being complementary to The Clarity card. From the answers I have received, there appear to be few advantages.

OceanSound

cogito wrote: »

I always carry at least two and usually three cards as back up. I was really just trying to evaluate Revolut as being complementary to The Clarity card. From the answers I have received, there appear to be few advantages.

Yes, but the advantages dished out arn't specific to Revolut...We've been telling you about the advantages of carrying an additional card (when all the while you knew this already):doh:

BTW, with regards to your OP, I think I know where you are coming from. GIven the choice of Clarity vs revolut, clarity is far superior. Revolut is a prepay card afterall.

For example, drawing cash from ATM while abroad. If you have standard revolut account, there is a limit of £200. Anything over, there's a 0.5% surcharge on the exchange rate. Even if you do a cash withdrawal for less than £200 in a month, but do it 'outside FX market hours' there's a surcharge of 0.5%

I always carry at least two and usually three cards as back up.

What's your third card?....If it's a card that offer no fee non-sterling transactions and cash withdrawals, then there may be little point in carrying a revolut card also** (even though everyone seems to be dazzled by it).

** - okay, if you have curve, you don't have to carry the revolut card. But if it's one of your main underlying cards it's usually advisable to carry it.

londoninvestor

zerog wrote: »

Revolut is a prepaid card that you need to load up with funds before you spend.

Given the structure of your post, I think you're suggesting that's a disadvantage. But it has its upsides - it's useful if you already have a balance in a non-sterling currency and want to spend it!

masonic

Nobody has mentioned the impact of cash advances from a credit card on your credit file, but this could be another reason to use both.

OceanSound

londoninvestor wrote: »

Given the structure of your post, I think you're suggesting that's a disadvantage. But it has its upsides - it's useful if you already have a balance in a non-sterling currency and want to spend it!

I see your point. If visiting the U.S. Convert Pounds to US dollars when the pound is strong. Go on holiday to US. Spend the dollars (without having to worry about fluctuations in currency).

Any unspent US dollars we can convert back to pounds or keep until next holiday (probably not advisable as you don't earn interest on any prepay card balances).