Talk to me about credit cards!

because there's far too much information out there and it confuses me somewhat.

My knowledge on credit cards is seriously limited. I understand there's more protection on credi cards than there is on debit cards if I use mine online?

Mostly looking at using one for abroad. I did mention in another thread about the pre paid travel cards, which whilst useful, are a bit of a pain the arse to use. (it's more the having to top up and the fees after 12 months if you don't use them, etc)

Reply 1

Reue

Original post by OU Student

Mostly looking at using one for abroad

Halifax Clarity

Gives you a perfect exchange rate with no transaction fees. Commonly regarded as the top credit card for overseas use. http://www.moneysavingexpert.com/credit-cards/travel-credit-cards#halifax

Reply 2

Tiger Rag

Original post by Reue

Yes, I've heard good things about that. A friend uses that one for going abroad. When I was looking at switching banks, (I went with Nationwide in the end, who don't appear to do decent cards for going abroad) Halifax did mention that card.

Reply 3

Reue

Original post by OU Student

Get £125 switching to Halifax current account and then get the credit card too. There's nothing stopping you having multiple accounts with multiple banks. I have accounts with Halifax, Barclays, Nationwide and First Direct.

Reply 4

Tiger Rag

Original post by jevara

I never tried using prepaid travel cards but all I know is that they are used if you are usually rejected for credit or have a bad credit history. It's like you are using a pay-as-you-go mobile phone - if you have not loaded money on it, you can't spend on it. As for traveling abroad, it's the best option to use as you don't have to worry about overspending or theft because you won't be carrying cash around.

Yeah, this is true. :smile:

I got the travel card at first because where I was going away with a friend, it wasn't an issue if I ran out of cash and /or money on my travel card.

Nationwide also seem to do a prety good deal on credit cards for using abroad (you can only get these if you have certain bank accounts) so will have a chat with someone tomorrow. Their website seemed rather vague; but there was a bit more information on Money supermarket.

Reply 5

Tiger Rag

I had a meeting with someone in Nationwide yesterday. I've now been given a credit card. It was explained to me that it's better to buy things with it and use my debit card for withdrawing cash abroad, because there are less charges / it's cheaper.

Reply 6

Gurs

Original post by OU Student

Credit cards charge for ATM withdraws anywhere you use it, including when you aren't international.

When it comes to protection, your credit card supplier is obliged to protecting you for a single purchase of £100 or more. It has to be a single item that's £100 or more, for example if you buy two items worth £60 each, you aren't protected as a single item isn't over £100. So if you buy a pair of jeans worth £140, and it never arrives, your credit card will protect you for it, probably in the shape of a refund.

However most companies already protect you for such issues. I think the use that you'll get is that, as it seems you travel a lot, if a flight was to be cancelled and you don't have insurance and the company isn't refunding you, the credit card provider should refund it. But remember that the single ticket has to be £100 or more, excluding any charges. If you buy a two way ticket for £120, you will not be protected as you'll have two tickets that isn't worth over £100.

Keep in mind that in the case of a refund from the credit card supplier, I'm assuming that the process isn't as simple as a refund from the company it self.

Credit cards are confusing, but I'm pretty sure what I stated is all correct.