Halifax Clarity Foreign Exchange Rates on MSE

fewcloudy

edwal13 wrote: »

And the current rate for a € against the GBP is???
And as you say ....its no lomger available on the terms you have it
And you better pay it off in full every time cos the APR is over 27%
Pros and cons . eh ....

try this update on December 10th ...
https://www.moneysavingexpert.com/credit-cards/travel-credit-cards/#bestbuys

I suggest you keep checking that Best Travel Credit Card link regularly and hope that the Barclaycard Platinum Cashback Plus returns. When it does, swoop in quickly and snap it up.
Meanwhile, it’s good to know I have the two next best cards as my backup.

And of course, they ALL need paying off in full, as per instructions in the link you sent...

edwal13

If there's one thing about doing a post here it sets a ball rolling, for me anyway. And the research with ''help'' from a couple of correspondents was useful.

I now know that the Halifax Clarity rate is the basic Mastercard rate and I now have that converter link on my bar, where to go to see it almost instantly.
https://www.mastercard.co.uk/en-gb/consumers/get-support/convert-currency.html Thank you for that.

But I was prompted to see if Visa do the same. Hey presto ... here is the link for that information https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html

Yesterday the Halifax Clarity rate was €1.204 against the GBP.

The Visa rate ... ie for the Barclays Cashback card was €1.181. Thats an advantage of €23 against €1000 in your favour when using Clarity, but it doesn't have a .25% cashback advantage.

In real terms spending the £846 .74 to get €1000 on Visa the cashback is worth £2.11.

The amounts involved in all these differences may well not be worth even the bother of discussion to many. The cashback facility too may be almost meaningless to most people except both aspects discussed here are still savings.

You will incur immediate interest on CASH WITHDRAWALS on Clarity, but not on straight-ahead purchases like restaurants, bars, supermarkets, travel tolls, car hire, hotels, souvenirs etc., all paid for on card. The interest on our last bill where we drew out €200 from an ATM was 60p. There was no interest on the rest of our €900 spending as long as we paid off the account in full. The interest rate varies and I think starts around 19%. The Barclays Visa Plantinum is more than 27%.

Currently MSE are showing the Halifax Clarity as their best-buy. The Barclays Cashback is now about 5th on the list and the only Visa one showing. All the rest are Mastercard....almost always it would seem to be the best actual rate on the day regardless of the card.

https://www.moneysavingexpert.com/credit-cards/travel-credit-cards/#bestbuys

To conclude ... this refers in its entirety to getting your cash or paying when you are actually out of the country. But if you know you must have some local currency on arrival at your destination go to an ATM straightaway in the point of touchdown and get some notes or as we do with Europe, don't spend every last penny on your most recent trip and hold a small amount in your hand for next time. Everybody has their own preferences but when making multiple Euro-trips every year we treat €euros just the same as GBPs in our pockets and always have some on standby. But we mainly give that Clarity card maximum use.

Thanks for the discussion and help.

Alexd52

If you are after the mastercard exchange rate and no interest on cash withdrawals, then Starling bank and debit card is worth looking at.

lisyloo

Mutton_Geoff wrote: »

I use Halifax Clarity a lot but never drawn cash from an ATM with it. I believe that cash withdrawals from credit cards can adversely affect your credit rating.

It's context dependent.
Many of us take holiday cash a couple of times a year and many posters say it does not affect a good credit rating.


If you have a number of other poor factors then what looks like borrowing cash could adversely affect your credit rating.


But it's certainly not automatic that it's adverse.

fewcloudy

edwal13 wrote: »

If there's one thing about doing a post here it sets a ball rolling, for me anyway. And the research with ''help'' from a couple of correspondents was useful.

I now know that the Halifax Clarity rate is the basic Mastercard rate and I now have that converter link on my bar, where to go to see it almost instantly.
https://www.mastercard.co.uk/en-gb/consumers/get-support/convert-currency.html Thank you for that.

But I was prompted to see if Visa do the same. Hey presto ... here is the link for that information https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html

Yesterday the Halifax Clarity rate was €1.204 against the GBP.

The Visa rate ... ie for the Barclays Cashback card was €1.181. Thats an advantage of €23 against €1000 in your favour when using Clarity, but it doesn't have a .25% cashback advantage.

In real terms spending the £846 .74 to get €1000 on Visa the cashback is worth £2.11.

The amounts involved in all these differences may well not be worth even the bother of discussion to many. The cashback facility too may be almost meaningless to most people except both aspects discussed here are still savings.

You will incur immediate interest on CASH WITHDRAWALS on Clarity, but not on straight-ahead purchases like restaurants, bars, supermarkets, travel tolls, car hire, hotels, souvenirs etc., all paid for on card. The interest on our last bill where we drew out €200 from an ATM was 60p. There was no interest on the rest of our €900 spending as long as we paid off the account in full. The interest rate varies and I think starts around 19%. The Barclays Visa Plantinum is more than 27%.

Currently MSE are showing the Halifax Clarity as their best-buy. The Barclays Cashback is now about 5th on the list and the only Visa one showing. All the rest are Mastercard....almost always it would seem to be the best actual rate on the day regardless of the card.

https://www.moneysavingexpert.com/credit-cards/travel-credit-cards/#bestbuys

To conclude ... this refers in its entirety to getting your cash or paying when you are actually out of the country. But if you know you must have some local currency on arrival at your destination go to an ATM straightaway in the point of touchdown and get some notes or as we do with Europe, don't spend every last penny on your most recent trip and hold a small amount in your hand for next time. Everybody has their own preferences but when making multiple Euro-trips every year we treat €euros just the same as GBPs in our pockets and always have some on standby. But we mainly give that Clarity card maximum use.

Thanks for the discussion and help.

I got lucky with my Barclaycard Platinum Cashback Plus, I realise that, but it’s no longer available. I used Clarity and Zero before when they were best for me, and I’ll use them again if they are still the best when perks on current Platinum Cashback Plus expire.
I like being able to withdraw cash and forgetting about it. With Clarity and Zero I had to remember to transfer money from my bank account onto those cards ASAP after a cash withdrawal or be charged interest. No biggie, but works for me, I like it. And although it’s irrelevant as I pay off in full, my interest rate is 19.95%, must be different if you got a Platinum today.
The MasterCard/Visa rates provided are indicative rates not definite ones. There’s a thread right now on here on that topic. There’s also a page on this website explaining MasterCard v’s Visa, it’s interesting.
A few younger colleagues have a Starling debit card, and I think that may be better than Clarity, Zero, and my precious Cashback Plus:eek: however I was put off by it being app based, and only having a £300 per day limit on cash withdrawals.

edwal13

Yes Alexd52 is also talking about a Starling debit card but surely this is dependent on having an actual bank account with Starling?

I have a perfectly good current account arrangement with Barclays and a visa debit card plus I use that account for supporting Paypal transactions too.

And then the Halifax Clarity Mastercard is for TAKING ABROAD for best rate on the day for cash withdrawals and purchases. And here at MSE that very card is their current best buy.

A Starling debit card would be no good to me because it's not a acceptable guarantee for purchase of things like car hire or hotel accounts. Nobody accepts debit cards for such transactions. A debit card guarantees nothing. A credit card does.

raghav.tarique

edwal13 wrote: »

Yes Alexd52 is also talking about a Starling debit card but surely this is dependent on having an actual bank account with Starling?

I have a perfectly good current account arrangement with Barclays and a visa debit card plus I use that account for supporting Paypal transactions too.

And then the Halifax Clarity Mastercard is for TAKING ABROAD for best rate on the day for cash withdrawals and purchases. And here at MSE that very card is their current best buy.

A Starling debit card would be no good to me because it's not a acceptable guarantee for purchase of things like car hire or hotel accounts. Nobody accepts debit cards for such transactions. A debit card guarantees nothing. A credit card does.

What is this nonsense you're talking about. Debit cards are wildly accepted for car hire and hotel rooms.

The Starling debit card is equal to or cheaper than the Clarity Card in all situations.

Also there is no such thing as the 'Clarity Card Rate'. It's the Mastercard wholesale rate on the day the transaction settles.

edwal13

When you go to collect a hire car you have to guarantee that the excess on the insurance arrangement and any other charges that you might incur while you have that car in your possession are covered.

A debit card is your personal banking arrangement at home and nobody knows what is in that account to which it applies. Even though it might be a healthy balance one minute that balance could be shifted very quickly to stop anybody withdrawing from it. Even if a hire care company were to be able to look at that balance, which they can't, it provides NO GUARANTEE of payment as might be required.

A credit card is therefore required at point of collection even if you have previously paid the hire fee using whatever means, that might well include a transfer by debit card. But then they have your money ...that part of the deal is paid for.

They set up an amount on your CREDIT CARD that is a guaranteed payment to cover any future costs that become payable like damage that has no waiver attaching and speed camera fines that they get billed for and pass on to you as the offender, not them as the car owner.

The only way to ensure payment is to have your agreement that they can go after-the-fact to your credit card and get their money. In that respect whatever the amount is they need guaranteeing you must have the headroom on the card offered to know the deal will happen in their favour.

The same with running a tab in a hotel. Meals, mini bar, anything, they can't get to you via a debit card after the fact but they can get your credit card to cover it, even if you leave without paying your account in full.

The Halifax Clarity card has always been shown for years on here at MSE on their travel money maximiser account since it first came on the market, as the best exchange rate EVERY TIME that they know. It is a card guaranteed by Mastercard and not Visa. Visa seems always to be less than the Mastercard exchange rate.

Today Visa is 1.175 but Mastercard is 1.197. We know they fluctuate and there's not a lot in it, just about £15.60 less currently on a transaction for €1000. So you make a choice about which card suits you.

This is copied and pasted from my next car hire confirmation ....

Dear xxxxxx
Thank you for booking through xxxxxxx.
Your voucher is now available online to print by clicking through the “Manage my Booking” button below. You can also review your reservation, or make changes here too.

Manage My Booking
Please carefully check to make sure all your travel details are correct.

Things to remember when picking up your car
• Your voucher.
• A valid credit card in the main driver's name.
• Your Driving Licence (Both parts if applicable).

You see, no mention of a ''valid debit card'' . Debit cards are about YOU and they ain't interested in you!!! They are interested in guaranteed money in the case of problems, that they can check immediately online, and only a credit card can provide that.

raghav.tarique

edwal13 wrote: »

When you go to collect a hire car you have to guarantee that the excess on the insurance arrangement and any other charges that you might incur while you have that car in your possession are covered.

A debit card is your personal banking arrangement at home and nobody knows what is in that account to which it applies. Even though it might be a healthy balance one minute that balance could be shifted very quickly to stop anybody withdrawing from it. Even if a hire care company were to be able to look at that balance, which they can't, it provides NO GUARANTEE of payment as might be required.

A credit card is therefore required at point of collection even if you have previously paid the hire fee using whatever means, that might well include a transfer by debit card. But then they have your money ...that part of the deal is paid for.

They set up an amount on your CREDIT CARD that is a guaranteed payment to cover any future costs that become payable like damage that has no waiver attaching and speed camera fines that they get billed for and pass on to you as the offender, not them as the car owner.

The only way to ensure payment is to have your agreement that they can go after-the-fact to your credit card and get their money. In that respect whatever the amount is they need guaranteeing you must have the headroom on the card offered to know the deal will happen in their favour.

The same with running a tab in a hotel. Meals, mini bar, anything, they can't get to you via a debit card after the fact but they can get your credit card to cover it, even if you leave without paying your account in full.

The Halifax Clarity card has always been shown for years on here at MSE on their travel money maximiser account since it first came on the market, as the best exchange rate EVERY TIME that they know. It is a card guaranteed by Mastercard and not Visa. Visa seems always to be less than the Mastercard exchange rate.

Today Visa is 1.175 but Mastercard is 1.197. We know they fluctuate and there's not a lot in it, just about £15.60 less currently on a transaction for €1000. So you make a choice about which card suits you.

This is copied and pasted from my next car hire confirmation ....

Dear xxxxxx
Thank you for booking through xxxxxxx.
Your voucher is now available online to print by clicking through the “Manage my Booking” button below. You can also review your reservation, or make changes here too.

Manage My Booking
Please carefully check to make sure all your travel details are correct.

Things to remember when picking up your car
• Your voucher.
• A valid credit card in the main driver's name.
• Your Driving Licence (Both parts if applicable).

You see, no mention of a ''valid debit card'' . Debit cards are about YOU and they ain't interested in you!!! They are interested in guaranteed money in the case of problems, that they can check immediately online, and only a credit card can provide that.

Right and how does a 3rd party reservation system know how much available credit you have? Is it £250 or £12,000?

"Your debit card is now welcome at Hertz.

Here at Hertz we like to make hiring a car personal. You decide what to drive and where to drive, and now you can choose how to pay.

We welcome debit cards across all our locations. We want your journey with us to be easy, so giving you options on how to pay puts you in the driving seat. No complicated processes – a simple deposit that works the same for credit cards as debit cards. Go your own way. Pay your own way."

edwal13

Good old Hertz, eh? But you know full-well what I said about ''not taking debit cards'' was/is perfectly correct, otherwise why would Hertz be making this strong pitch in the way they are that they are making the move now when they never did? ....times change .... your debit card is NOW welcome .... ....we like to make hiring a car PERSONAL .... yeah .... I bet they feel they need to offer 'something' new when they charge the prices they do!!!! I'll stick with my credit card at Faro car-collect and not risk an argument at the Sixt desk. I suggest until it becomes the norm across the industry in both hotels and car hire etc. that people should not just carry a debit card, it should be belt-and-braces!!! I doubt the Amex loyalty folks would bother anyway.

But let's be clear right now in informing the majority ... until ALL the car hire companies change and are willing to offer both methods of guarantee and PRINT IT OUT in terms and conditions, don't think you can buck the system turning up with something they won't accept.