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  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 19th May 15, 6:22 PM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    0 WOW
    MSE News: Mastercard vs Visa for using abroad which wins?
    • #1
    • 19th May 15, 6:22 PM
    0 WOW
    MSE News: Mastercard vs Visa for using abroad which wins? 19th May 15 at 6:22 PM
    Specialist overseas credit cards give you the best deal when you're spending abroad, but are they all the same?...

    Read the full story:

    Mastercard vs Visa for using abroad which wins?




    Click reply below to discuss. If you havent already, join the forum to reply. If you arent sure how it all works, read our New to Forum? Intro Guide.

    Last edited by MSE Luke; 22-07-2016 at 4:29 PM.
Page 2
    • NiftyDigits
    • By NiftyDigits 7th Jun 15, 11:07 AM
    • 10,287 Posts
    • 4,379 Thanks
    NiftyDigits
    9. When I use my credit card abroad will I incur any charges for doing so?

    There is a 2.99% foreign conversion charge per transaction. For all our Credit Cards except our Everyday Credit Card that has no fee.


    ...Heng Leng refers to the 'Everyday' card.
    Originally posted by eDicky
    How did I miss that?
    • Mikeact
    • By Mikeact 21st May 16, 7:34 AM
    • 2 Posts
    • 1 Thanks
    Mikeact
    As an Avios user, I will stick with Lloyds/Amex, Supercard and Curve, also Caxton and my home debit card for dire emergencies. But then, I could also use my Revolut card.
    • alchemst
    • By alchemst 30th Jun 16, 7:10 PM
    • 3 Posts
    • 0 Thanks
    alchemst
    WHICH IS BETTER TO USE ABROAD ? SuperCard or Postoffice Card
    Both offer 0% charges for use in shops/taxis/restaurants etc etc...

    I have both , but which is better to use Abroad for holiday?
    • Mikeact
    • By Mikeact 1st Jul 16, 7:36 AM
    • 2 Posts
    • 1 Thanks
    Mikeact
    Think about it...
    You're maybe missing a point.
    Use either if you are not that bothered. But, if you collect points etc., from another regular credit card you may have ie, Tesco or Waitrose maybe, then use one of those cards linked to Supercard. Every overseas expenditure then earns you points as if it were a UK spend.
    Last edited by Mikeact; 01-07-2016 at 7:37 AM. Reason: Spelling
    • marklee
    • By marklee 12th Jul 16, 9:07 PM
    • 66 Posts
    • 22 Thanks
    marklee
    Super helpful article, thank you.

    I stumbled across it today after discovering quite how terrible the exchange rates being used by Visa on my Nationwide Select Card were today.

    Using the Visa Europe and Mastercard convertors, for transactions on 12 July...

    USD / GBP:
    Visa: 1.285
    Mastercard: 1.324
    You get 3% more dollars with Mastercard vs Visa

    JPY / GBP:
    Visa: 129.99
    Mastercard: 136.2
    you get 5% more yen with Mastercard vs Visa

    Pretty outraged at the scale of the difference. I complained to Nationwide and they shrugged "Understand your concern, but it's nothing to do with us, complain to Visa." Think I'm swapping to Halifax Clarity.
    • zagfles
    • By zagfles 12th Jul 16, 10:01 PM
    • 14,242 Posts
    • 12,401 Thanks
    zagfles
    Super helpful article, thank you.

    I stumbled across it today after discovering quite how terrible the exchange rates being used by Visa on my Nationwide Select Card were today.

    Using the Visa Europe and Mastercard convertors, for transactions on 12 July...

    USD / GBP:
    Visa: 1.285
    Mastercard: 1.324
    You get 3% more dollars with Mastercard vs Visa

    JPY / GBP:
    Visa: 129.99
    Mastercard: 136.2
    you get 5% more yen with Mastercard vs Visa

    Pretty outraged at the scale of the difference. I complained to Nationwide and they shrugged "Understand your concern, but it's nothing to do with us, complain to Visa." Think I'm swapping to Halifax Clarity.
    Originally posted by marklee
    I suspect most of that is down to timing of when the daily rates are set - the pound has been very volatile today it moved about 2.5c against the dollar in the last 24 hours. Check over a few days and you'll likely see a much smaller difference.

    VISA definitely have a bigger spread though - just reverse the currencies and multiply the rates and you can see that VISA has a spread of around 1.3-1.5% for both USD and JPY whereas Mastercard's spread is tiny.
    • marklee
    • By marklee 13th Jul 16, 1:24 PM
    • 66 Posts
    • 22 Thanks
    marklee
    I suspect most of that is down to timing of when the daily rates are set - the pound has been very volatile today it moved about 2.5c against the dollar in the last 24 hours. Check over a few days and you'll likely see a much smaller difference.
    Originally posted by zagfles
    I'm very intrigued now as to how Visa sets its rates.

    For example, if you look at today's rate for JPY / GBP, it's 134.28. However, at the end of yesterday, the interbank JPY / GBP rate was ~139.32, and it's been trading around 138 / 139 all day today.

    The inverse rate on GBP / JPY is also better than the market, creating an arbitrage opportunity for Japanese cardholders.

    Whole thing seems very odd - not only does Visa have a wider spread than Mastercard, but Visa also seems to be pretty poor at tracking more volatile exchange rates than Mastercard.
    • Nick Young
    • By Nick Young 16th Jul 16, 12:43 PM
    • 1 Posts
    • 0 Thanks
    Nick Young
    Hello All,
    I have just obtained a Halifax Clarity card to find out the following:-
    1. There is a 2.95% fee for using this card abroad.
    2. There is a cash fee of 3% (minimum 3)
    3. If withdrawing cash abroad, you'll pay an additional non-sterling transaction fee of 2.95%.
    Thus not the amazing card for overseas use as Martin makes out!
    Nick
    • eDicky
    • By eDicky 16th Jul 16, 1:16 PM
    • 4,701 Posts
    • 2,834 Thanks
    eDicky
    Hello All,
    I have just obtained a Halifax Clarity card to find out the following:-
    1. There is a 2.95% fee for using this card abroad.
    2. There is a cash fee of 3% (minimum 3)
    3. If withdrawing cash abroad, you'll pay an additional non-sterling transaction fee of 2.95%.
    Thus not the amazing card for overseas use as Martin makes out!
    Nick
    Originally posted by Nick Young
    You've got it wrong somehow, Nick, there are no such fees for the Clarity. What makes you think so?
    • A_T
    • By A_T 16th Jul 16, 1:58 PM
    • 677 Posts
    • 488 Thanks
    A_T
    Are you sure you've got a Clarity Card? It's not always easy to tell.

    If digits on the card 5-8 are 0300 you have a Clarity. If not you haven't.
    • fifeken
    • By fifeken 16th Jul 16, 2:58 PM
    • 2,365 Posts
    • 1,227 Thanks
    fifeken
    Are you sure you've got a Clarity Card? It's not always easy to tell.

    If digits on the card 5-8 are 0300 you have a Clarity. If not you haven't.
    Originally posted by A_T
    Is that for more recently issued ones? I've got a Clarity Card and it's not got the numbers you say.
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