Help with Credit Cards :(

areksnumbr1sxylady · 8 Apr 2013 at 15:43

Basically I am going away to USA for some time and I need to have ability to spend my UK money there... I can do it via current debit/credit cards... but I will face heavy transaction fees every-time around 3%..

So am looking at this ;

http://www.nationwide.co.uk/creditcard/landingpages/bt.htm?cmpid=Aggregators_97

But it all seems so complicated with those balance transfers fees, purchase fees.. what is this??

All I want is to have that credit card linked to my debit, and not pay any fees once I make a purchase in USA e.g in a shop paying for food.. Is that even possible??

Thanks

cheechm · 8 Apr 2013 at 15:44

Halifax Clarity Card.

/thread

Russinating · 8 Apr 2013 at 15:46

cheechm said:
Halifax Clarity Card.

/thread

This. I've got one and I never exchange cash before I go away.

They should also give you a hefty limit so you don't know have to worry unless you're away for months with no means of paying it off.

tom_e · 8 Apr 2013 at 15:49

Halifax clarity and set up a DD for the full amount to come from your current account.

areksnumbr1sxylady · 8 Apr 2013 at 15:54

Halifax sounds great, but it is a Mastercard... My current account is with barclays and debit card on Visa... Will that make any difference what so ever?

tom_e · 8 Apr 2013 at 15:55

Lazder said:
Halifax sounds great, but it is a Mastercard... My current account is with barclays and debit card on Visa... Will that make any difference what so ever?

absolutely none.

areksnumbr1sxylady · 8 Apr 2013 at 15:58

thanks guys for your help, I guess thats 1 problem solved... another million to go

Halifax it is.

Dangerous Dave · 8 Apr 2013 at 16:00

Nationwide Select Card is another option, it has a 12 month interest free deal at the moment so you can earn 12 months interest on what you spend if you drop what you spend into a savings account. I use this and have a Clarity card as a backup/for cash when I go abroad.

olv · 8 Apr 2013 at 16:02

How long are you going for? You could get a Travalex Cash passport which acts as a credit/debit card in your chosen currency but requires you to top up the card in advance. Benefits are a decent exchange rate and no local transaction fees and you can top up for free via bank transfer.

areksnumbr1sxylady · 8 Apr 2013 at 16:05

olv said:
How long are you going for? You could get a Travalex Cash passport which acts as a credit/debit card in your chosen currency but requires you to top up the card in advance. Benefits are a decent exchange rate and no local transaction fees and you can top up for free via bank transfer.

their exchange rates are much worse.. so If world rate is £1 = 1.53$ they exchange for like 1.46.

Another question about Halifax Clarity...

If I were to withdraw cash from ATM in USA, and the balance will be repaid in full within 56 days via current account... Will I get any fees added on me??

I got confused by this ;

"Maximum 56 days for purchases if you pay the full balance shown on your previous and current statement on time.
No interest-free period on balance transfers or cash withdrawals."

Does this mean If I pay outstanding balance within calendar month I will not get charged? But if I dont I will start getting charged their APR?

cheechm · 8 Apr 2013 at 17:11

On cash withdrawals you'll have a monthly rate of:

1.017% or 1.385% or 1.667%

So from the time you take out the cash to the time you pay it off, you'll pay a particular rate (depends what they give you). So take out £100 and pay it off 30 days later, you'll pay between £1.02 and £1.67.

I'm not sure if they still do the £5 cash back if you spend over £300 in a month?

[TW]Fox · 8 Apr 2013 at 17:23

olv said:
How long are you going for? You could get a Travalex Cash passport which acts as a credit/debit card in your chosen currency but requires you to top up the card in advance. Benefits are a decent exchange rate and no local transaction fees and you can top up for free via bank transfer.

There is absolutely no reason to do this unless you get rejected for a Halifax clarity card. It offers poor rates which are how it makes money for the issuer.

[TW]Fox · 8 Apr 2013 at 17:24

Lazder said:
If I were to withdraw cash from ATM in USA, and the balance will be repaid in full within 56 days via current account... Will I get any fees added on me??

Yes - interest at circa 20% APR from the withdrawl date to the payment date. This works out at about 1.5% per full month outstanding.

But you'll not withdraw huge amounts of cash anyway. There is almost nothing you cannot pay for quickly and easily by card in the States. Even 79c sodas in gas stations are a simple swipe of your card, with zero interest and zero fees if paid automatically by DD at the due date.

Essentially:

a) Get Clarity
b) Setup DD for full amount each month
c) Use card for everything, take cash when you need it, incur no noticeable charges

Job done. It's that easy.

Better than getting conned with crap rates from travel agents, or getting rubbish rates from silly cash passports. Just one simple credit card which you can use to pay for 99% of things just like most Americans do.

Russinating · 8 Apr 2013 at 17:38

As Fox says, very few places will not take card. I doubt you'll ever have to withdraw cash.

[TW]Fox · 8 Apr 2013 at 17:49

I think I took out a total of $60 on my last US trip. Card is just everywhere, you don't even need to sign for sub $10 stuff, just swipe and go. Makes contactless look like a pointless gimmick

areksnumbr1sxylady · 8 Apr 2013 at 18:12

[TW]Fox;24083160 said:
I think I took out a total of $60 on my last US trip. Card is just everywhere, you don't even need to sign for sub $10 stuff, just swipe and go. Makes contactless look like a pointless gimmick

Last time when I was in US, I had to pay 900 dollars worth of stuff... they just swiped the card, and I stood there like... dont you want a pin or signature? :confused:

reilly · 8 Apr 2013 at 20:29

Good choice, with the clarity I have just got one for my trip to American and Canada. Got a good limit to spend and also set up a DD for when I go. Another option is the TravelX preloaded cards. I bought $500, $100 cash $400 on the card, same rate, free and it works like a debit card, withdraw cash from a machine or pay. So I have cash, credit and preloaded Travelx card.

qqg3 · 8 Apr 2013 at 22:46

Lazder said:
Last time when I was in US, I had to pay 900 dollars worth of stuff... they just swiped the card, and I stood there like... dont you want a pin or signature?

Yup.

Chip & Pin technology pretty much doesn't exist over there, especially outside the big cities. Either they'll swipe and hand it back, or they'll swipe and hand you a receipt to sign. It's like hopping in a time machine!

(For clarity, chip and pin cards work just fine, but you probably won't need to enter your pin anywhere).

[TW]Fox · 8 Apr 2013 at 22:48

reilly said:
Good choice, with the clarity I have just got one for my trip to American and Canada. Got a good limit to spend and also set up a DD for when I go. Another option is the TravelX preloaded cards. I bought $500, $100 cash $400 on the card, same rate, free and it works like a debit card, withdraw cash from a machine or pay. So I have cash, credit and preloaded Travelx card.

Will people stop saying the Travelex cards are a good option? They are not. If you have a Clarity I cannot understand why you have bought a $500 Travelex card as well? It's completely unneccesary now you have the Clarity.

You are just giving money away with the inferior rate! You already hold the best card, thats all you need.

Diagro · 8 Apr 2013 at 22:52

Lazder said:
Last time when I was in US, I had to pay 900 dollars worth of stuff... they just swiped the card, and I stood there like... dont you want a pin or signature?

Its as if the US kiddies want to have there cards stolen and used for god knows what.

The US banks fraud teams must be over-run with claims...!