What is best, Credit card or Pre-paid mastercard for holiday?

18 replies
Found 30th Dec 2010
We are off to Tenerife in May, Husband doesnt want us to take our bank cards over at all. He has no trust in places abroad.

So he was talking about getting a credit card to take cash out of cash points over there. But I don't think you can withdraw cash through machines with credit cards? Thought you had to cash a credit card cheque into the bank?

We have the money to pay back what ever was spent on the credit card, so would we be best getting a Thomsons pre-paid mastercard which charges 2 euros to withdraw cash each time. I would assume a english credit card company would charge more than 2 euros each withdrawal?

18 Comments

Fairfx

1.5 Euro per ATM withdrawal.

Original Poster

deek72

Fairfx



Thank you, will have a read through that one now

£9.95 for the card unless we top up instantly with £500. Definatly one to look at about april though when we can put that all on it. 1.5 Euro is great too
Edited by: "beth3735" 30th Dec 2010

Or try one of the Euro cards - you load cash onto the card at a fixed rate, and then have no penalty for taking money out at a foreign ATM. I use the Caxton FX card and have had no problems so far. You usually get a slightly better Euro rate than at high street operators eg the Post Office etc.

Have just looked at the exchange rate - Today's Rate: 1 GBP = 1.1465 EUR

Original Poster

suzyerogers

Or try one of the Euro cards - you load cash onto the card at a fixed … Or try one of the Euro cards - you load cash onto the card at a fixed rate, and then have no penalty for taking money out at a foreign ATM. I use the Caxton FX card and have had no problems so far. You usually get a slightly better Euro rate than at high street operators eg the Post Office etc.Have just looked at the exchange rate - Today's Rate: 1 GBP = 1.1465 EUR



That claxton FX card looks great too. Thank you.

" Husband doesnt want us to take our bank cards over at all. He has no trust in places abroad. "

Why not?, I use my cards abroad on a regular basis, never any problems.

beth3735

That claxton FX card looks great too. Thank you.



You're welcome - just remembered...when I applied for one I think I paid £10 for it, but then this was added to the card as credit, so you didn't actually pay anything for it (think that makes sense!)

Original Poster

Inactive

" Husband doesnt want us to take our bank cards over at all. He has no … " Husband doesnt want us to take our bank cards over at all. He has no trust in places abroad. "Why not?, I use my cards abroad on a regular basis, never any problems.



He works for HSBC, and sees too many problems he says. Just think he is paranoid. I would rather take them incase we run out of money! Worse thing to happen with 3 kids abroad

Banned

top card is halifax clarity card - no fees and intra-bank exchange rates so better than caxton etc
Edited by: "csiman" 30th Dec 2010

Banned

And NEVER use a credit card to withdraw cash anywhere!

Original Poster

csiman

And NEVER use a credit card to withdraw cash anywhere!



This is what I thought as the exchange costs and withdrawal would be expensive!
Will look at the Halifax Clarity card Thanks

Some great stuff on the thread.

Anyone know which one is the best to avoid Ryanair etc booking fees? I was looking at the Claxton FX but it seems to charge for UK transactions regardless of which type of card?

Banned

beth3735

This is what I thought as the exchange costs and withdrawal would be … This is what I thought as the exchange costs and withdrawal would be expensive!Will look at the Halifax Clarity card Thanks


I applied for one a couple of weeks ago and I dont work and still got one.

I will just schedule a transfer in to the account the amount I expect to withdraw whilst on holidays so interest will be minimal.

Original Poster

csiman

I applied for one a couple of weeks ago and I dont work and still got … I applied for one a couple of weeks ago and I dont work and still got one.I will just schedule a transfer in to the account the amount I expect to withdraw whilst on holidays so interest will be minimal.



I think this one seems the best, as we really dont want to run out of cash while away with the 3 kids.
What do you mean transfer to the account? Do you have to have a halifax account? I read it as a credit card and you cannot top up.
Maybe I have read it wrong though. I do work, but husband on better wage, so going to apply in his name see if they give us a good limit to go with. He can they sort out paying it back too

Banned

beth3735

I think this one seems the best, as we really dont want to run out of … I think this one seems the best, as we really dont want to run out of cash while away with the 3 kids.What do you mean transfer to the account? Do you have to have a halifax account? I read it as a credit card and you cannot top up.Maybe I have read it wrong though. I do work, but husband on better wage, so going to apply in his name see if they give us a good limit to go with. He can they sort out paying it back too


it is like a credit card but with zero fees (except interest on the amount withdrawn)

as the interest is charged from the date of withdrawal, its best to schedule a deposit from any current account for the amount you plan to withdraw whilst you are actually on the holiday

so interest will be minimal

Original Poster

Thank you csiman Will get him to apply when he gets home. Sounds the best deal out there tbh.

I've used the Caxton Global Traveller card for a few trips now - never any problems. Very eay to load up online before you go, and you can load money on via text whilst you are away which is great. It doesn't charge you to withdraw from a cash machine and doesn't charge you a percentage for paying for things in shops, restaurants etc. You can't really loose - I'm a big fan. You can check how much money you have on it at any time via text and it only costs £1.50 to transfer your money back into your current account if you have any left when you get home. Winner!!

if you find the link for fairfx through MSE (ill find it later for you if you cant find it... PM me...) you can get the card for free when you top up £10.

I bought one (a $ card) for when I go to the states in the new year. rate is a lot better than high street and i've bought a few 'family and friends' cards to bring with me incase i lose my main one over there!

Banned

Caxton

I've used the Caxton Global Traveller card for a few trips now - never … I've used the Caxton Global Traveller card for a few trips now - never any problems. Very eay to load up online before you go, and you can load money on via text whilst you are away which is great. It doesn't charge you to withdraw from a cash machine and doesn't charge you a percentage for paying for things in shops, restaurants etc. You can't really loose - I'm a big fan. You can check how much money you have on it at any time via text and it only costs £1.50 to transfer your money back into your current account if you have any left when you get home. Winner!!


Note that the exchange rates are where caxton etc make their money so not as good as the halifax clarity card at all.

intra bank exchange rate is currently €1.159 to the £

Caxton currently offering €1.1355

2% commission fee basically and a £1.50 fee to get any spare cash back off the card
Edited by: "csiman" 30th Dec 2010
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