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think its genreally accepted that the clarity card is the best/safest way of spending abroad, so ive just applied and been accepted.
whats the best way of using it? pay for every meal/bar bill by handing card over? or visit an ATM each day and take £100 of local cash out of the machine for that days spend say?
something else?
and as i only took it out for foreign spending, should i still make a small purchase each month back here then pay it off straight away, just for credit rating? or are there no consequences to just not touching it for months on end, then only once or twice a year abroad?
thanks
EDIT: oh, and if you take out money each day 'over there' by ATM, will you be clobbered with higher exchange rates, or will they actually be better than over here?
Have used it all around Oz / Thailand and throughout Europe. Paid with card and taken cash out. Exchange rate is Bank of England rate and always pretty good. No charges for use either.
I wouldn't bother with using it here just pay it off when you get back. That's what we have always done.
Dont forget that if you use it in an ATM they will start to charge interest on cash straight away, so if you wait until your statement to pay the balance, you will be charged interest. If you pay for things with the card, you wont be charged interest unless you dont pay off the whole balance when you get the statement.
If you withdraw £100 a day at ATM and dont immediately pay it off, it could cost you a lot in interest.
As above, paying with the card is cheapest and therefore preferable. Taking cash out costs in interest from the moment you take the cash out but provided you pay your balance in full each month it isn't that much. Best travel money evahhhh.
Yep as above use it to pay for stuff rather than taking money out. Although if you pay it off as soon as your hope then it won't cost you that much, it's not the way I use it though and I just take cash with me. I don't use the card other than when on holiday.
I just used mine in france, paid by card for tolls, fuel etc and for drinks and meals etc often used atm cash, not had the bill yet so hope no suprises 🙂
thanks chaps, i didnt know about the interest thing as soon as money leaves the ATM. one of the reasons its always best to ask here first 🙂
ok, looks like ill just use it for paying for stuff then. when you do this do you generally use it for every bar tab, every meal, or just goods?
thanks again.
Make sure you tell em you're going abroad and you have something else. Then when you try use it India, and they block it you're not left borrowing money from your tour guide and spending a fortune calling the UK to sort it out...
Currently in France with my Clarity card. As above, it's a very good rate for purchases, especially now that cards need to declare the loading they add for foreign transactions. One of my other cards is 2.75% loading!!
If you withdraw cash, then you pay 12.9% (I think) from the moment you withdraw the cash.