How do you all take your money on holiday?
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EveryWhere wrote: »I did write...of sorts. So if for some reason you were unable to get any of the myriad of fee free cards available, there is still another possibility, for even the formerly bankrupt.
No fees at all on purchases and as little as 0.6% off the full Mastercard rate(so still better than any BdC) on ATM withdrawals.
Always useful to keep your thinking cap on.
Yes it's still better then most other current accounts, they normally charge the fee, plus a percentage of the transaction.0 -
Well Done.
If you are using creditcard for cash withdrawal it will be good and less hassles if you avoid using it for purchase.
If the intention is to use it solely for purchase in foreign curenncies (not cash withdrawal) there are reasonable number of creditbuilder CCs which is much easy to get such as Aqua, Capital one, etc. This will complement you Clarity card if you want to seperate between cash witdrawal and purchase.
https://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards/
You also get cash back about 0.5% for any purchase you do.
Why is it hassle for purchases? Is it because it takes longer to clear in your account? I'm going on holiday in November (right after Brexit so that'll be fun if there's disruptions). I plan on paying all the transactions off a few days after I come back. I may book some activities online in Euros, so will need to do both cash and purchases.0 -
Why is it hassle for purchases? Is it because it takes longer to clear in your account? I'm going on holiday in November (right after Brexit so that'll be fun if there's disruptions). I plan on paying all the transactions off a few days after I come back. I may book some activities online in Euros, so will need to do both cash and purchases.
The Clarity charges interest on cash advances from the day you take it. Purchases no interest as long as you pay off the full bill when you get it.
I guess he means if you want to avoid paying any interest on cash withdrawals at all, you'll need to cover your cash withdrawals immediately.
But if you also have purchases on the account, it makes it slightly more complicated to do so.
If you want to pay off the cash withdrawals asap in order to avoid being charged interest, you will have to wait until they actually appear on the account and then make a transfer that covers them.
They allocate the payment to the item with the highest interest rate. That will be the cash advance.
But if you intend to pay them off when you get home , you pay around £2 per £100 per month for ATM withdrawals.
In other words, if you take £500 in Euros cash out at the start of the holiday and pay off the whole bill one month later, you'll pay £10 in interest for the cash withdrawal..
That Virgin card doesn't seem that bad now, does it?
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EveryWhere wrote: »The Clarity charges interest on cash advances from the day you take it. Purchases no interest as long as you pay off the full bill when you get it.
I guess he means if you want to avoid paying any interest on cash withdrawals at all, you'll need to cover your cash withdrawals immediately.
But if you also have purchases on the account, it makes it slightly more complicated to do so.
If you want to pay off the cash withdrawals asap in order to avoid being charged interest, you will have to wait until they actually appear on the account and then make a transfer that covers them.
They allocate the payment to the item with the highest interest rate. That will be the cash advance.
But if you intend to pay them off when you get home , you pay around £2 per £100 per month for ATM withdrawals.
In other words, if you take £500 in Euros cash out at the start of the holiday and pay off the whole bill one month later, you'll pay £10 in interest for the cash withdrawal..
That Virgin card doesn't seem that bad now, does it?
Ah I see. I'll keep that in mind.
In fact if it's a week after Brexit, I may get some cash out beforehand just in case the economy takes a dip like it has done each time there's been an election/referendum! (just watching Martin Lewis saying do half and half if you're worried about Brexit!)
I'll probably just use it for spending instead of cash withdrawals so I don't run the risk of interest. It's only a 5 night holiday, so a small amount of cash would be fine.0 -
In fact if it's a week after Brexit, I may get some cash out beforehand just in case the economy takes a dip like it has done each time there's been an election/referendum! (just watching Martin Lewis saying do half and half if you're worried about Brexit!)
That is another type of discussion e.g currency speculation, Spread betting.
If your prediction is correct, you could profit, however if you get it wrong the currency moves against you, you would incur a loss. But what Martin Lewis is saying is a rational approach if you are worried about Brexit as noone here has a crystal ball. But assuming you are not exchaging a lot of money you will also need to take into consideration about your time to travel + cost of traveling (2x) and possible loss if your guess is wrong..
Getting the no fee specialist DC/CC card is about getting the best possible exchange rate at the point of exchange.0 -
Gloomendoom wrote: »Carrying some cash while you are there might be essential, but you don't need to take great wads of it with you from the UK.
Our holidays sound similar to yours. If we haven't driven there, we hire a 4x4 and spend practically every day out and about exploring. We are away at the moment, staying in a small village.
I think we brought the grand sum of 20 Euro with us in cash. Withdrew a 100 from an ATM at the airport when we arrived and top that up from ATMs as and when we need to.
I've been doing it this way for the last 25 years in Europe, North America, Asia and Australia. It's never been a problem.
Agreed but it just comes down to personal preference. Thats the way we prefer to go about it. There isnt a right or a wrong way.0 -
That is another type of discussion e.g currency speculation, Spread betting.
If your prediction is correct, you could profit, however if you get it wrong the currency moves against you, you would incur a loss. But what Martin Lewis is saying is a rational approach if you are worried about Brexit as noone here has a crystal ball. But assuming you are not exchaging a lot of money you will also need to take into consideration about your time to travel + cost of traveling (2x) and possible loss if your guess is wrong..
Getting the no fee specialist DC/CC card is about getting the best possible exchange rate at the point of exchange.
Yeah I plan on spending around £400-£500, so not massive amounts. Some of that would be card purchases, some of it cash. If I’m happy with exchange rate I’ll change it up. If it’s really low I’ll wait to see! The economy doesn’t like uncertainty and brexit, currency always takes a dip after brexit votes (based on history) so I think it’s wise to take it out before brexit. It will recover but not in time for my holiday!0
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