Are there any cards that don't charge interest on ATM withdrawals?

Highland76

SpreadableToast said:

Highland76 said:

jbrassy said:

when you withdraw cash using a credit card, it will impact your credit score which may not be helpful if you're going to apply for a mortgage or loan soon.

That’s only true if you don’t pay off any CC cash withdrawals quickly. 

Not really.  All that is reported is that you withdrew cash that month, how much the transactions were for, and how often you withdrew it, not how quickly you paid it off.  Generally, cash advances on your credit file are not a good idea if you're applying for a mortgage.  Doing it once a year when you go on holiday might be fine (although you might need to explain to a lender why you were withdrawing cash on the card) but doing it over an extended period of time is asking for trouble.

Well then perhaps you'd like to explain why its not had an effect on my credit history despite averaging around 5 overseas cash withdrawals EACH MONTH for 5+years on my Halifax Clarity & MBNA Everyday Amex/Visa pre-Covid19? Either I was very lucky or maybe, just maybe, lenders were fully aware that I was paying them off very quickly (usually within 7 days to minimize interest).

jbrassy

Well then perhaps you'd like to explain why its not had an effect on my credit history despite averaging around 5 overseas cash withdrawals EACH MONTH for 5+years on my Halifax Clarity & MBNA Everyday Amex/Visa pre-Covid19? Either I was very lucky or maybe, just maybe, lenders were fully aware that I was paying them off very quickly (usually within 7 days to minimize interest).

I don't think anyone is going to be able to explain that. The way your credit history / rating affects loan and mortgage applications is a bit of a black box. Only lenders really know how it affects your chances. The point is, cash withdrawals using credit cards do show up on your credit file and thus may affect your chances of being accepted for a loan or mortgage. If you want to play it safe, it's better to withdraw using a fee-free debit card such as Starling.  

[Deleted User]

jet01 said:

Starling Bank is rated above Monzo by MSE in their top picks for debit cards to use abroad because they do not have any monthly cap on amount you can withdraw abroad without charges. The same is also now true of the new Virgin Money current account (although their legacy accounts opened through CYBG do have pretty steep charges still). 

Curve also offer an allowance of £200 per month for foreign cash withdrawals before charges kick in, after which you will be charged a 2% fee or £2 whichever is the highest. The paid for product offers a higher free allowance I think. The convince of curve is it can be simply linked to your existing debit card without the need to open a new bank account. CCs can also be linked but you may be charged the cash withdrawal fees by your CC company if you use it to withdraw cash via Curve. 

Legacy Yorkshire/Clydesdale products are actually free in Pound Sterling, Euro, Swedish Krona or Romanian Leu in the UK/EEA. Not as universal as their Virgin branded products but hardly 'pretty steep'.

Stuart_W

The 118118money  credit card is also another fee free card for cash withdrawals, whether UK based or overseas. Interest free if the bill is paid in full. No foreign transaction fees etc like, just like the others mentioned here. Might be an option if turned down for any others mentioned. The dire interest rate doesn't matter when you're not paying any interest. 34.9% of zero is the same as 17.9% of zero.
https://www.118118money.com/credit-cards/

jet01

dahj said:

jet01 said:

Starling Bank is rated above Monzo by MSE in their top picks for debit cards to use abroad because they do not have any monthly cap on amount you can withdraw abroad without charges. The same is also now true of the new Virgin Money current account (although their legacy accounts opened through CYBG do have pretty steep charges still). 

Curve also offer an allowance of £200 per month for foreign cash withdrawals before charges kick in, after which you will be charged a 2% fee or £2 whichever is the highest. The paid for product offers a higher free allowance I think. The convince of curve is it can be simply linked to your existing debit card without the need to open a new bank account. CCs can also be linked but you may be charged the cash withdrawal fees by your CC company if you use it to withdraw cash via Curve. 

Legacy Yorkshire/Clydesdale products are actually free in Pound Sterling, Euro, Swedish Krona or Romanian Leu in the UK/EEA. Not as universal as their Virgin branded products but hardly 'pretty steep'.

But they do charge a minimum of £1.50 for both cash withdrawals and debit card transactions in all other currencies apart from those 4 in the rest of the world. 3.75% on withdrawals and 2.75% on card transactions. I would call that pretty steep to be honest, up there with some of the most expensive debit card charges for foreign use. 

lisyloo

jbrassy said:

In terms of debit cards, Starling Bank is the best as there are no fees and limits for overseas ATM withdrawals. The Barclaycard Rewards is also a good choice if you want a credit card. However, when you withdraw cash using a credit card, it will impact your credit score which may not be helpful if you're going to apply for a mortgage or loan soon.

Personally, I use the BC Rewards for general spending, then use my Starling for ATM withdrawals. It's also a good idea two have two cards so you have a back-up.

The “will impact” is definitely incorrect.
anecdotally some of us do this for holidays without it affecting our ability to get credit.
depends on how you manage it so it MAY affect your creditworthiness if managed badly.
if managed well on a couple of holidays a year should not be an issue in the context of a good credit history.

born_again

Gerry1 said:

born_again said:

Just remember many overseas ATM's have a local charge. No way round that one.

Cashback at the supermarket till?  Not sure if that's limited to debit cards, but worth a try.

If it's like the Uk then that will be a no.
Cashback is debit card only.

NoodleDoodleMan

Credit card - Barclaycard Rewards is best deal.

As long as you can pay it off in full when the monthly statement is due for settlement.

As somebody mentioned - a cycle tour in Europe in the prevailing circumstances is tempting fate, especially as travel insurance will be null and void (for all illnesses and accidents etc.) in countries where FCO advises no travel.