CC in retirement query

tgon

I retired early and draw an income that covers my costs (£15k pa) from investments. I've also savings for extra expenses and holidays, etc. I want to do a lot of travelling next year and the Halifax Clarity CC seems to be the best MSE option however I'm worried that my income is so low that I'll have a much reduced spend limit. My credit score is high and pre-acceptance is 95%. I always pay off the balance monthly.

[Deleted User]

Ignore the score.

If the acceptance is 95% then apply for it and see the outcome

pochisoldi

Go for it, otherwise you'll never know.
If you get a card with a suitable limit - bingo!
Speaking for myself - I would rather have a Clarity card with a £500 limit, than having to use another card which charges 3% commission.
Worst case scenario is that you have to pay the balance off the card early every month* so you can continue to use it.

(* "Early" meaning, before the due date, or before you get within £50 of your limit, even if it means paying off items which won't show until next month's statement)

knightstyle

We are retired with small pensions, we both have Halifax Clarity cards for our long trips to France. We applied in the local branch and explained our situation, credit started at £500 several years ago but is now at £4700.

I also have a Barclaycard from long ago which now has a limit of £16k talk about irresponsible, it would be even more but I asked them to reduce it a few years ago.

The_Fat_Controller

As said above, you can always make payments to the balance at any time so that you have available credit to use.

My Nationwide card allowed me to put my balance in credit so I could spend the credited amount PLUS my credit limit to purchase a car.

To make sure you do not incur interest set up a Direct Debit to pay the balance in full every month.

tgon

Thanks all.

A small credit limit won’t do the job of car rentals, flight purchases, hotels, etc. I should have applied when I was working if I’d thought further in advance. Seems odd that being ample in cash and capital isn’t an application question but that’s the way it is I guess. I’ll apply and see how I go. I can always use my usual CC with an £8k limit and take the hit with fees.

fwor

<spam removal, please ignore>

Voyager2002

tgon wrote: »

Thanks all.

A small credit limit won’t do the job of car rentals, flight purchases, hotels, etc. I should have applied when I was working if I’d thought further in advance. Seems odd that being ample in cash and capital isn’t an application question but that’s the way it is I guess. I’ll apply and see how I go. I can always use my usual CC with an £8k limit and take the hit with fees.

Flight purchases are generally in sterling: times when there is a benefit from paying in local currency are fairly unusual.


Hotels often cost less or the same from booking sites than paying directly. Most of these allow you to pay in sterling without additional cost.

Chandelier.

When it came to us going away on holiday, I applied for a couple of cards that offered the best exchange rates/zero commission/withdrawal fees, whichever they are. It then gave me different options to choose from should I need them.

I ended up with a Halifax credit card with a limit of £1200 and a Santander Zero card with a £3000 limit. I used both these cards above with no issues and it covered all costs. I paid them off straight away to deter any interest fees. I chose two, so once acted as a back up incase anything else happened or come up.

Have a good look around and maybe apply for a couple to give you options should you require them.

Happy travelling!

tgon

Voyager2002 wrote: »

Flight purchases are generally in sterling: times when there is a benefit from paying in local currency are fairly unusual.


Hotels often cost less or the same from booking sites than paying directly. Most of these allow you to pay in sterling without additional cost.

Thanks but I meant for purchases when I am abroad not booked from the UK.

Voyager2002

tgon wrote: »

Thanks but I meant for purchases when I am abroad not booked from the UK.

I have often booked hotels using a UK site while abroad: sometimes even when in the lobby of the hotel where I am about to stay.