Money saving expert credit cards forum

Learn how in the Forum Introduction Guide. Credit Cards Debt-Free Wannabe Savings and Investments. Utilities Old Style MoneySaving MoneySaving in Relationships. Grabbit Shop don't drop Freebies Competitions. Join s of MoneySavers in the Forum's many discussion boards. For all the latest deals, guides and loopholes - join the 12m who get it. Helen S Edited by Johanna. Going abroad or spending on foreign websites? There's one way to spend that smashes most others.

Get a specialist travel credit card and you can spend overseas knowing you've got a near-perfect exchange rate worldwide. This step-by-step guide includes best-buy cards, as well as the cards to avoid, and shows you how to check what your card's currently charging you when you use it overseas.

Not sure which method's right for you? See our Cheap Travel Money Tips. Before you go on holiday, there are some things you need to know about how credit and debit cards work overseas. Get this wrong and it can cost you large, so please read the following even if you only have time to read and remember the headlines, it should help protect your pocket. Use your everyday plastic while on holiday and you could be hit by a host of hidden charges for full details, read the hidden holiday spending charges note.

But there are credit and debit cards that don't charge these fees, making them ideal to use when you're on holiday or buying from overseas websites. Use this checker to find out what you'll pay when using your existing cards. If you're paying huge fees every time you use your card abroad, check out our best buy cards below to find cards that don't charge.

Please select an credit or debit card from the list. Reset For full details, see full overseas cards charges. If you think any cards should be added to the tool, please email us. Ultimately, when abroad, you want to pay for only what you buy, yet using any bog-standard card means you're paying to pay, too.

But the winner is simple: As mentioned above, specialist overseas credit cards can be the best way to spend when you're on holiday. However, they can quickly turn into one of the worst ways if you're not disciplined enough to pay them off. Set up a direct debit to repay in full every month, or the interest charges dwarf the cheap-currency gains.

See the travel credit card best buys section for our pick of the top credit cards. Specialist overseas credit cards almost always beat their debit card counterparts We believe credit cards almost always beat debit cards if you're looking for the best way to spend overseas. However, there is one exception where credit cards don't usually win: But specialist overseas debit cards don't charge fees or interest for cash withdrawals, meaning they can often be cheaper.

For a great comparison of rates, see Martin's euro analysis. If you've got a top overseas card, always choose the local currency, as your card does the exchange and it's unbeatable.

If you're using a bog-standard credit or debit card, it's touch-and-go. Sometimes the card machine will show you the 'non-sterling cash fee'. If this is under 2. If it's over, pick the local currency.

Usually, the only way to know if you'll be accepted is to apply, but each application marks your credit file. But our Travel Credit Cards Eligibility Calculator quickly shows your odds of getting almost every top travel credit card so you can find the ones most likely to accept you, thus minimising applications.

It uses a 'soft search', which you will see on your credit file but lenders won't, to give us an indication of your credit score. We then match this against lenders' criteria for acceptance so we can show you the odds of getting each card however, we can't check you for Nationwide. Once you have this knowledge, it's easier for you to know which card to apply for. This means you're less likely to be rejected and less likely to need to apply elsewhere, which would add another mark on your credit file.

When you apply for any credit card, the provider checks you to match you up against its wish list for what is a profitable customer full info on this and how to boost your chances in our Credit Scores guide. This doesn't just dictate what products you'll be accepted for but also how good the ones you actually get are.

With travel credit cards, it has two main impacts:. They always give a variable APR depending on credit score. Every credit card APR the annual interest rate you pay on your card is a 'representative' rate. The rest can be, and sometimes are, charged more. Having said that, the aim is to repay the card IN FULL every month, so if you do this it's less of an issue, as you'll never be charged the APR.

Lower credit scores tend to mean you get a smaller credit limit. If this happens, don't automatically jump to get another card instead; at least use what they've given you.

Credit Cards - uqyhadet.web.fc2.com Forums

See the Credit Limit Too Low? Unfortunately, there's no system that can predict exactly how card firms will react. But, as a rough rule of thumb, the higher the chance the eligibility calculator gives you, the closer to the rep APR and the higher credit limit you should get.

The MSE Credit Club is a game-changer. For years the credit market has been shrouded in mystery but our revolutionary tool brings together the key components to give you the full picture, and crucially, what it means for your acceptance chances and how to boost your creditworthiness. A credit score alone isn't enough to borrow, as there are other factors at play it's why many with perfect scores still get rejected. Credit Club shows you Free Experian Credit Score - how lenders rate your past credit behaviour.

MSE Affordability Score - how lenders assess if you can afford a product. Your Credit Hit Rate - how likely you actually are to be accepted when you apply. While the right card is absolutely the best way to spend abroad, the wrong one is absolutely the worst way. Any of the methods in this guide beat them. Nine debit cards have nightmarish charges every time you use them overseas.

Money Saving Expert: Credit Cards, Shopping, Bank Charges, Cheap Flights and more

But these cards have another sneaky charge: The cards from hell Halifax Debit Card Spending penalty: The cards below don't have a specific spending penalty, but instead charge a minimum exchange fee, meaning these are hell for small spends. Full list of charges for major UK credit and debit cards. This all depends on what card you have. If you've a top overseas credit card, spending is always cheaper. Even on cards with no cash withdrawal fees, you'll usually still pay interest on the withdrawal until you pay it off the Barclaycard below is the rare exception to this.

This goes double for non-specialist credit cards. You'll pay the non-sterling transaction fee on all transactions overseas, but you'll also pay a fee and interest on cash withdrawals. On debit cards, perhaps counter-intuitively, spending is still cheaper. That's because while there's no interest on a cash withdrawal, there's usually still a fee as well as the non-sterling transaction fee when you use a cash machine.

So, again, spending is cheaper.

If you're looking for a new card to give the cheapest way to spend overseas, check out the best buy specialist overseas cards. But some banks and credit card providers waive these fees. They give you the near-perfect Mastercard, Visa or Amex rate without any non-sterling transaction fee. It's these cards that are in this guide, as they allow you to spend the right way overseas.

And of these, cards using Mastercard's rate will usually give you the biggest saving. Top travel credit cards These specialist cards have near-perfect spending rates but tend to charge fees or interest on cash withdrawals.

We've picked out the top credit cards that allow you to spend for free overseas here. It's a Mastercard too, which pushes it ahead of cards - including Barclaycard below - from other issuers with lower interest rates. The cashback will be credited to your card account within 90 days. However, it's pipped to the top post by the Creation card above, which has slightly lower interest charges for taking out cash.

So if you'd rather stick to a 'big name', this could be the card for you. Are there any limits on cash withdrawals? Therefore it's best to prioritise spending where you can. The Creation Everyday is our top pick as it has no fees on spending and its interest rate on cash withdrawals is one of the lowest.

Plus as it's a Mastercard, it's widely accepted overseas. It's only slightly better than the Halifax Clarity card above on cash withdrawals - there's not actually much difference in the interest you'd be charged on cash withdrawals: Its offering is very similar to the Halifax and Creation cards above, as it recently cut the interest you'll pay on cash withdrawals.

To get them, you'll need to turn on 'Retailer Offers' via online or mobile banking. And, while it has a high interest rate on cash withdrawals abroad, if you pay off your balance in full each month on or before your statement date, you won't actually be charged any interest making it the top way to spend overseas.

The card's fee free overseas until the end of August Although that puts a time limit on it, it's five years away which makes it better in the long term than the card above, especially if you frequently withdraw cash.

It is a Visa though, which means the exchange rate you get on overseas spending tends to be very slightly lower than the rate on Halifax above, so factor that into your decision. As an added bonus, it gives 0. However, primarily use this only to spend as its There are a few other cards that don't charge non-sterling exchange fees when you use them to spend overseas.

If you're choosing a card, remember that Mastercard's exchange rate almost always beats Visa's rate, so factor this in when making your decision.

We've included Creation, Halifax Clarity, Barclaycard, Santander and Aqua at the top of the table for comparison, but if you already have one of the cards below, it's usually not worth switching as the gains are small. Here are the 'best of the rest' of the cheapest overseas spending cards. For all the latest deals, guides and loopholes - join the 10m who get it. Getting the right plastic is crucial to cutting your overseas spending bill. And this new kid on the block is available to anyone.

Here's what you need to know:. To use it you:. It's also possible to get non-sterling transaction fee-free debit cards, but to do that you'll need to genuinely shift bank account. There are four current account providers offering debit cards without non-sterling transaction fees, although two of them are restricted to certain areas or are only non-sterling transaction fee-free in Europe. New app-based Starling Bank's current account charges no non-sterling transaction or cash withdrawal fees when you use its debit card worldwide.

It's only been open to applications for a few weeks, and there's currently around a two week wait between downloading the app and receiving your card, but initial feedback has been positive.

Let us know your experiences with it. Starling Bank is a new challenger bank, which opened applications to its current account in May For now it has no fees, though it's possible that this'll change in the future. The Metro Bank current account charges no non-sterling transaction fees or cash withdrawal fees when you use its debit card in Europe. But to open the account, you need to go to a Metro Bank branch, all of which are in London or southeast England, meaning not everyone will be able to take advantage.

More branches are opening, but in the same areas. Is this bank account any good? If you're looking to switch, there are bank accounts that will pay you interest or give you introductory bonuses for joining that could beat this. Read Best Bank Accounts to see what's on offer.

If you can't get the accounts above, then another good option for overseas debit card spending is the Virgin Money Essential current account.

It's also a good account for those with previous credit issues such as serious defaults or CCJs as you'll be ID checked but not credit checked in the same way you would with standard bank accounts, meaning it's open to all. To open the account you need to go into a branch but after opening you can operate it online. As an added bonus, this account pays 0. Can I apply for this basic account with a good credit score? This account features in our Basic Bank Accounts guide.

It's regarded as one of the easiest bank accounts to get, but there's nothing stopping good credit scorers getting this account for overseas spending too. We've found one other account that is useful if you travel a lot, though you'll have to live in the northwest of England or southwest of Scotland to get it.

If you have a standard, Reward, Offset or Cumberland Plus current account with Cumberland Building Society , it charges no foreign exchange fee or cash withdrawal fees on the debit card that comes with the account. On all of these cards, there is a processing time. So, you actually get the rate on the day the transaction is processed by your card provider, which is usually a day or two after you used the card, but could be up to a week later. This is important, as if there are movements in the currency markets between you making the purchase and your card provider processing it, then you could end up paying more or less for what you bought than you thought you were going to.

You'll tend to pay the same costs on foreign websites as if you were actually abroad and spending there. This is called dynamic currency conversion and usually should be avoided. Often the rate you get will be appalling and someone will be making big money out of it. If you've got one of the specialist overseas cards, you'll get a much better rate paying in the foreign currency rather than pounds.

Even if you're using a normal card, as you've no idea of the relative exchange rates, they could be playing you for a fool, so it's usually best to stick with paying in the foreign currency. For a great example of this, read Martin's euro exchange analysis. If you're travelling to Spain, watch out for this when withdrawing money from cash machines too. You'll often be asked if you want to have your money converted into sterling when withdrawing euros from ATMs.

The general rule is to say no, as you could get a worse rate than the one you'd be given by your own plastic provider. If this is less than your card's own non-sterling transaction fee eg, it's 2. But if you have one of the specialist cards featured here, they're always unbeatable, so select euros. To prevent fraud, most card companies track unusual transactions, and if there's evidence of them, they slam the brakes on and stop the card being accepted.

The best thing to do, unless you're a regular traveller who frequently spends overseas, is to call up the card company to let it know you're going abroad. Usually, though sadly not always, this stops any problems. If it happens to you while you're away, call the card company as soon as possible. There's no right answer to this, which is why this guide focuses on how to get the best rate at any moment. If the pound is strong and the euro or dollar weak, many people think, " I'm not going away for a few months, but I'll grab my cash now.

There's nothing wrong with doing this, but you need to understand it's currency speculation and you're effectively gambling on exchange rate moves. The fact the pound is strong at any time doesn't mean it won't get stronger, and therefore buying your currency early can lose you money.

Conversely, the fact it's weak doesn't mean it won't get weaker. Playing the currency market is something highly paid traders can't always get right. Those who do make a fortune; those who don't lose a fortune. For more on this, read Martin's "Should I buy euros now?

If you're going to get the cash out on a specialist overseas card, then it's better to wait until you're there. Overall it's safer to use TravelMoneyMax and get the cheapest rate while you're here.

It's about the best exchange rate possible, as it reflects currencies' real interchange value. So the higher the 'load', the worse the exchange rate you get. Worse still, it isn't broken down on statement, so you won't notice. Withdraw money from an overseas cash machine and the card provider will add a fee, usually around 2.

Many people are aware of this charge for credit cards, but it's important to note it applies to most debit cards too. Many overseas banks, especially in the USA, also charge an additional fee for withdrawing cash. Little can be done about this, except trying a few different banks to find the cheapest. Thus taking larger amounts out to cover a longer period is cheaper than lots of small withdrawals, though make sure your cash is stored securely.

Sadly, a few card providers have decided to take profiteering from holidaymakers up a level. Spend on a Halifax, Intelligent Finance, RBS, NatWest, Santander or Lloyds TSB debit card and you'll pay a fee each and every time.

This means that the normal 'paying on the card's cheaper than making withdrawals' rule is defeated for these cards, so withdraw a large cash lump instead as it's cheaper. See the Holiday Cards From Hell section for more. Normally repay a credit card in full at the end of the month and you don't pay any interest.

Yet withdraw cash and even if it's paid off in full, many providers still charge interest, often at a higher rate than spending.

While this isn't exclusive to withdrawing cash abroad, in the UK it's rarely noticed as credit card cash withdrawals aren't common. Those who don't pay off in full will, of course, always be charged interest. With credit cards, the rate for purchases as opposed to balance transfers or cash withdrawals is used as the main rate to advertise the card.

So if that is described as Loans are slightly simpler as they only have one rate.

So if a loan is advertised as being 7. Of course, some people will be rejected outright for the card or loan too. NOT YET A FORUM MEMBER? If you go through it, it can sometimes result in a payment or benefit to the site.

It's worth noting this means the third party used may be named on any credit agreements. Plus the editorial line the things we write is NEVER impacted by these links. We aim to look at all available products. If it isn't possible to get an affiliate link for the top deal, it is still included in exactly the same way, just with a non-paying link.

For more details, read How This Site Is Financed. Aqua Advance , Aqua Reward , Halifax Clarity , Lloyds Avios , Nationwide Select , Post Office , Saga MoneySavingExpert. David's Park, Ewloe, CH5 3UZ. We think it's important you understand the strengths and limitations of the site. We're a journalistic website and aim to provide the best MoneySaving guides, tips, tools and techniques, but can't guarantee to be perfect, so do note you use the information at your own risk and we can't accept liability if things go wrong.

Its stance of putting consumers first is protected and enshrined in the legally-binding MSE Editorial Code. Your browser isn't supported. It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Forum Home Join s of MoneySavers in the Forum's many discussion boards.

Weekly Email News Blogs Martin's Blog Deals Hunters' Blog Team Blog. About the site How we're financed MSE FAQs Martin's Biography The MSE Charity Fund Free MSE car sticker MoneySaving Game Martin's Online Gallery MoneySaving Quizzes MoneySaving Polls. Search Main site Main site Forum News Blog. The MSE mobile menu not all pages are optimised yet. MSE Credit Club Cashback Eligibility Calc Airline Credit Cards Credit Card Rewards Loans Cheap Loans New.

MSE Credit Club Loans Eligibility Calculator Cheap Credit Card Loans Credit Scores Debt Help Debt Problems Mental Health Debt Guide Dont Bank With Debts Debt Solutions Money Makeover. MSE Credit Club Stoozing Calculator Rewards Checker News Regulator denies payday loan Big Reclaims Reclaim PPI for Free Packaged Bank Accounts Council Tax Reclaiming Flight Delay Compensation Reclaim Experian CreditExpert Govt.

Calculators Council Tax Calculator Benefits Checkup Tax Code Calculator Bank Charges Comparison Income Tax Calculator News The Queen's Speech - what it More than I actually paid.

Flight Delays Compensation I took your advice and have claimed PPI from all the companies we had loans with. Cheapest Football on TV. Savings Top Savings Accounts Are Your Savings Safe? Best Bank Accounts First Direct: Fixed Rate Savings Charter Savings Bank: Top Cash ISAs The AA: Protect Yourself Consumer Rights Printed Mini Guide Section 75 Refunds Failed Delivery Shopping Tricks Freebies, Freebies, Freebies eBay Buying Secrets High Street Haggling Megashopbot.

Holidays Cheap Flights Travel Insurance Flight Delays Compensation Cheap Hotels Cheap Package Holidays Overseas Travel Tips Easyjet Tricks Motoring Cheap Petrol inc. Overseas Spending Travel Money Tips Top Travel Spending Cards Your Card: Overseas Charges Compare Travel Cash Airline Credit Cards News Calling Spain, Poland etc Insurance News Insurance News Admiral rapped by regulator Insurance Records Car Insurance The record's just 96p for a year's fully comprehensive cover.

First Time Buyers First Time Buyers Guide Help to Buy ISAs How much can I borrow? Mortgage Best Buys Cheap Mortgage Finding Home Movers Boost Your Mortgage Chances Mortgage Best Buys 20 Property Search Tips Free House Price Valuations Cheap Mortgage Finding Remortgaging Remortgage Guide Mortgage Best Buys Should you Remortgage?

Free House Price Valuations Cheap Mortgage Finding Managing your Mortgage Overpaying your Mortgage Mortgage Arrears Help Extend Your Lease Buy Your Freehold. Overpayments Calculator Would paying more on mortgage SAVE you cash? How Much Can I Borrow? Uncover how much a bank may lend you for a mortgage. Savings vs Mortgage Offset Mortgage? Shopping Rights Consumer Rights Armour How to Complain Section 75 refunds Mini Rights Printout Failed Delivery - fight back. Tools Cheap iPhone Finder Incl iPhone5 offers MegaShopBot.

Students Student Bank Accounts Student Loans Grad Accounts Education Grants Teen Cash Class News Eligible for carer's credit? Tools Free Tax Code Calculator Find if you're owed a tax rebate Income Tax Checker See what the tax man and more!

Get Our Free Money Tips Email! Cheap travel money alternatives Travel cash comparison tool Cheapest prepaid travel cards Not sure which method's right for you? The 10 need-to-knows when spending abroad Before you go on holiday, there are some things you need to know about how credit and debit cards work overseas. Specialist travel cards are so good for spending abroad because they don't charge fees for it Use your everyday plastic while on holiday and you could be hit by a host of hidden charges for full details, read the hidden holiday spending charges note.

How much does your card charge? Find how much you pay to use your card abroad. Please choose either a credit or debit card: How does the Eligibility Calculator work? Will my credit score affect the deal I get and my credit limit? With travel credit cards, it has two main impacts: To get the bonus, you need to spend on the card in a currency other than pound sterling, whether abroad or paying for something online.

You can minimise this cost: You don't get charged interest on spending abroad, provided you pay this off in full by the date shown on your statement. This rate is only for the Clarity credit card, not Halifax's own travel money bureau, which generally offers lower exchange rates.

You can get the Clarity credit card even if you already have a Halifax credit card.

Credit cards eligibility calculator - MoneySavingExpert

Some poorer credit scorers will get Eligibility Calculator MSE's free tool. Stats box Exchange rate fee: None Interest on cash withdrawals? Yes, until it's repaid in full Representative APR on spending: Need-to-knows There's no fee for cash withdrawals, though you'll be charged interest at But there's a trick to minimise this cost.

You're only charged interest until you've fully repaid the balance, so if you pay off the withdrawal amount as soon as you can via internet banking while abroad, or when you get home you can minimise interest. Need-to-knows There's no fee for cash withdrawals, yet you'll be charged interest at Need-to-knows There are no fees for spending or withdrawing cash abroad until 31 August You don't get charged interest on spending or cash withdrawals abroad, provided you pay them off in full by the date shown on your statement.

Any cash withdrawals in pounds will be charged interest from the day you make them at Make sure you pay off any purchases IN FULL or you'll be charged Only if not repaid in full Representative APR on spending: Need-to-knows This card's designed for those with poor credit history and will accept those with past CCJs or defaults providing they're a year old, or bankruptcies over 18 months old. The rate you'll get is set by Mastercard, which you can check here.

This card charges Some poorer credit scorers will get higher APRs of up to If you do withdraw cash, pay it off as soon as you can via internet banking while abroad, or as soon as you get home so you minimise interest costs.

Yes, until it's repaid in full Cashback: Mastercard Representative APR on s pending: Sterling cash withdrawals attract interest from the day you make the withdrawal. FAQs Unsubscribe Past Emails Privacy.

To use it you: Need-to-knows Cash withdrawals overseas have a 2. If your linked cards pay cashback or rewards, you'll get those for your overseas spending. Even if you link a credit card to it you still DON'T get the extra Section 75 protection you get by spending directly on a credit card. If you were a member of the pilot scheme last year, you'll need to re-register to get a new Supercard. You're not credit-checked, but Supercard will do an ID check, which will be marked on your credit file.

Stats box Loading exchange rate fee: Need-to-knows Starling Bank is app-only - you can download it for iOS and Android. The exchange rate you'll get is set by Mastercard, which you can check here. Money in your account will earn 0. The rate's dropping to 0. Mastercard debit In-credit interest: Need-to-knows The exchange rate you'll get is set by Mastercard, which you can check here. Outside Europe, you'll pay a non-sterling transaction fee of 2. You need to pass a credit check to open the account.

None Minimum monthly pay in: Need-to-knows The exchange rate you'll get is set by Visa, which you can check here. This rate tends to be very slightly lower than the Mastercard rate that many of the credit cards above use. Also watch out for any extra fees charged by the ATM provider. There is no overdraft facility as this is a basic bank account which means that anyone can get it, regardless of past credit history. You need to pass an ID check to open the account.

Visa debit In-credit interest: Hidden holiday spending charges. Technically, there are two types of loading on cards. The optional fee is added by the card provider, as its cut of the currency conversion. This can be split and altered, depending on each worldwide region. Cash withdrawal charges debit and credit cards Withdraw money from an overseas cash machine and the card provider will add a fee, usually around 2. A penalty for spending debit cards only Sadly, a few card providers have decided to take profiteering from holidaymakers up a level.

Unexpected interest charges credit cards only Normally repay a credit card in full at the end of the month and you don't pay any interest. Credit Cards With credit cards, the rate for purchases as opposed to balance transfers or cash withdrawals is used as the main rate to advertise the card.

Personal Loans Loans are slightly simpler as they only have one rate. Join in the MSE Forum Discussion: Travel Credit Cards NOT YET A FORUM MEMBER? By Helen S Edited by Johanna. Related News Calling Spain, Poland etc from your UK mobile?

Weirdly it's cheaper outside the UK 15 June BA compensation blunder wrongly DENIES passengers payouts for flight cancellation chaos 9 June Pound falls after election result - should you buy euros or dollars now? FREE MoneySaving email Week from 21 June MSE News Martin's Blog Deals Hunters. How this site works We think it's important you understand the strengths and limitations of the site. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service.

Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. We don't as a general policy investigate the solvency of companies mentioned how likely they are to go bust , but there is a risk any company can struggle and it's rarely made public until it's too late see the Section 75 guide for protection tips.

We often link to other websites, but we can't be responsible for their content. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. More tools from MoneySavingExpert Budget Planner Free tool to analyse your finances and scrutinise spending. Premium Bonds Calc Unique tool uses probability to estimate winnings. EBay Local Deals Mapper Find cheap pick-up only items near you - they often attract fewer bids. Credit Club Turbo boost your credit chances and get your free Experian credit report.

Credit Card Eligibility Calc Shows which top cards you're most likely to get. Cheap Energy Club Ensures the cheapest energy deal constantly. About the Site MSE's Editorial Code Site's Funding Sitemap Jobs Accessibility Email FAQs Site FAQs Forum Rules New to Forum? Martin Lewis is a registered trade mark belonging to Martin S Lewis.