Bletchleyite
Veteran Member
Does it contain an issue number? If so it's the same thing under a different name.
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Surprised that some people pay for everything by card
- Thread starter DaleCooper
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Does it contain an issue number? If so it's the same thing under a different name.
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Xenophon PCDGS
Veteran Member
I asked that specific question of the £24 annual fee payable in advance as this seems to be nothing more of a cynical ploy incentive to ensure the card user uses the card often enough to obtain "benefits" to obtain more than covered by the £2 average monthly fee equivalent which has to be paid irregardless of card usage.
Of course, they have designed it so that some people will be psychologically 'encouraged' in the way you mention. Also, undoubtedly many people will have taken out the card when they would be better off with a simple 0.5% cashback card with no fee. That's up to the consumer to figure out. People who are organised and can do basic arithmetic benefit from other people's laziness.
Bletchleyite
Veteran Member
A bit like BT charging an extra <something> (£1?) a month to anyone who doesn't make any phone calls - this is to encourage you not to simply not bother plugging a phone handset in.
It is unusual to have a Maestro card in the UK these days. The only banks I know of that still issue them are Clydesdale and Yorkshire (both in the same company) and then only certain accounts. I took out a Post Office bank account specifically for the Maestro card as I wanted it for Dutch train tickets, as Dutch Railways didn't accept MasterCard or Visa very much at the time. However, they have recently written to me to say that they will be replacing it with Visa Debit, defeating the whole point of getting that account. The Quidity prepaid card still appears to be issued as a Maestro.
I have a Debit MasterCard from Metrobank and whilst it works wherever MasterCard is displayed, as you'd expect, it doesn't work where Maestro is accepted but not MasterCard. So your new card may well not work in some locations in the Netherlands and Germany, where Visa/MasterCard is not universally accepted, including many high street shops such as HEMA and Zeeman.
Of course, ideally you want to be using a card which doesn't charge a loading fee for the currency exchange. Clydesdale/Yorkshire are particularly expensive as I recall. See Money Saving Expert for the best buys.
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That's bad, but not the main problem. They have a £1.50 minimum fee.
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I keep getting badgered by my bank to open a credit account - they send application forms unsolicited every month or so. They usually go straight into the 'one day file'. Likewise, for the things I'm purchasing at this point in my life, I don't have much need of a CC and would prefer to avoid the potential problems with them
I got a credit card when I went to uni , the bank pretty much threw it at me . I then spent wayy too much on it and got into the kind of problem you can get spending money you dont have lesson now learned . Luckily I kept up my minimum repayments so was fortunate enough to be able to open a new card when I graduated that had an 18 month balance transfer offer . I transferred the balance and paid it off over the space of about 6 months vowing to close the card once id done and never use a credit card again .
Ive since kept it mainly so that I can get a decent credit history as in a few years I will be looking at a mortgage . In addition to this you do get more protection when buying online and its more widely accepted overseas . If I'm traveling abroad I always have my credit card for emergencies as master card is usually universally accepted .
Bletchleyite
Veteran Member
Yes, credit cards are very useful things to have, but you need to be disciplined in their use, and if you can't be then you're better off not having one.
A Visa card or MasterCard should be accepted wherever the symbol is displayed regardless of whether it is debit or credit. So in that sense you don't need a credit card to go abroad. But a credit card is almost compulsory for car hire and also sometimes for hotels.
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I do try and use a crd for most things - Im just surprised that Sainsburys dont let contacless yet in their stores. Mainly because i dont like carrying loose change in me pocket.
However now when I go out drinking I only take cash so I dont erm, spend more than I should.
However now when I go out drinking I only take cash so I dont erm, spend more than I should.
A number of companies recognise these as credit cards, and therefore will charge you credit card surcharges.
Some have their systems in order and recognise as debit cards though.
Kite159
Veteran Member
I have a Post Office mastercard for when I go abroad or buy items online from other countries as it charges no exchange fee and the conversion is the mastercard rate which mostly matches the actual exchange rate.
Useful when buying something on ebay and Paypal gives you the option to paying in GBP which is a rubbish exchange rate
Useful when buying something on ebay and Paypal gives you the option to paying in GBP which is a rubbish exchange rate
Metrailway
Member
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Is that using a Visa Debit card? Martin Lewis describes Visa Debit cards as the cards from hell if you're looking for one to use abroad.
Mastercard credit cards are usually the best.
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Even MasterCard credit cards can vary widely in costs. You really need to check the fees for each particular card.
DelayRepay
Established Member
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I use my card to pay for most things now. Even my cups of tea (78p) at work.
It's quicker than cash, I don't end up with a load of small change and I get 1% cashback on contactless transactions at the moment. It might not be a lot individually but it earns me about £5 per month.
I drew £200 cash out at the start of March for spending money and still have £140 left
It's quicker than cash, I don't end up with a load of small change and I get 1% cashback on contactless transactions at the moment. It might not be a lot individually but it earns me about £5 per month.
I drew £200 cash out at the start of March for spending money and still have £140 left
Stonesourscotty
Member
Nearly everything i bought in Australia was by Card eg Paywave or Paypass i find the Card machines with Paypass here quite rare other than Coop Asda and Spoons
Used my Visa Debit card in Poland, Holland and Belgium recently. From what I can tell I get the official exchange rate and no charge. Have also used it in Australia, New Zealand, Chile, Peru, Bolivia and Argentina.
Which bank are we talking about here?
http://www.moneysavingexpert.com/travel/overseas-card-charges#debit
shows that all banks other than Metrobank, Norwich & Peterborough and Santander Zero (not open to new customers) charge either a fee or load or both for debit cards.
It was Nat West so it looks like I was charged a small fee. Naff all compared to changing money at a travel agency etc.
--- old post above --- --- new post below ---
By the way has anyone else spotted today that because of nasty European laws loads of credit card companies are cancelling their cash back because it turns out lots of retailers got fed up of the credit card companies transaction charges.
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I don't call a minimum of £1 a 'small fee'. For small amounts that would be worse than that charged by money changers that only charge a spread, rather than a commission.
We are only offered cashback because of the high fees that merchants are charged. Those fees are ultimately passed on to the consumer. So whilst cashback may seem 'generous', you are only getting back some of the fees that shops are paying on your behalf.
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^^ That's not particularly accurate and fees are likely to change with the new interchange legislation. Essentially it depends on the business and the nature of their cash flow. Cards will be cheaper for some, cash will be cheaper for others. (Even putting to one side the tax-dodging)
Indeed. The 'Foreign Purchase Fee' on a Natwest Debit Card is 2.75% (minimum £1.) On a Natwest Credit Card there's no 'Foreign Purchase Fee' but a 'Non-Sterling Transaction Fee' of 2.75% (no minimum.) So if you have both then putting transactions under around £37 on your credit card gives you a smaller fee. In fact the exchange rate for a Natwest Mastercard is usually slightly better than when buying foreign currency in cash from the bank, which makes the 2.75% fee negligible but a transaction of £1 in a foreign currency on a Natwest Debit Card would mean you'd pay around double the actual charge.
I'm with you, I tend to just use cash and will draw out a large wedge rather than using my card all over the place. I'll be honest, when I compared it what I drew out at the cash machine and what came out of my account it looked pretty much like the exchange rate at the time.
WillPS
Established Member
Every month I get out a £10 note, and that's my cash allowance for the month (I generally buy in Starbucks for my team at work on Fridays, and I often get cash for these). The only things I spend cash on regularly are the fee for the pub 'stickies', parking meters in Sheffield and occasionally a milkshake from the van.
In fact, increasingly I find myself buying vouchers from Morrisons (using my credit card) then using these at Starbucks/Greene King pubs etc. - that way I get triple the "rewards" on my Barclaycard and a fuel voucher.
In fact, increasingly I find myself buying vouchers from Morrisons (using my credit card) then using these at Starbucks/Greene King pubs etc. - that way I get triple the "rewards" on my Barclaycard and a fuel voucher.
33056
Established Member
Mostly use cash abroad, always obtained well before leaving the UK. The only thing we usually use the credit card for is hotel bills; have one that doesn't charge fees for use in Europe and always make sure it is paid off in full every month.
In the UK I generally use cash for day to day purchases and card for larger ones but hardly ever at a garage, even if it costs £50 to £60 - luckily we don't use the car much so it normally only needs filling up once a month or less.
In the UK I generally use cash for day to day purchases and card for larger ones but hardly ever at a garage, even if it costs £50 to £60 - luckily we don't use the car much so it normally only needs filling up once a month or less.
martynbristow
Member
If your travelling abroad then card is safer, you can't loose all your money as easy. Plus you can get more cash.
The transaction fees hit you however CaxtonFX and Kalixa offer competing cards with lower rates. 1.5% commission or so, comparable to any other currency converter. There are a few pit falls but OMG is it easier and cheaper. It's now available for all currencies and you can with draw cash too.
Otherwise Halifax had a Clarity card which had 0% overseas rates and the Alliance & Leister a similar deal.
With minimum spends, contactlesd is cheaper and you pay a % with no gateway fee so there should be no minimum. A standard debit card costs ~40p in fees so the merchant gets a hefty bill for small items. Although the actual fees vary for bank, aquirer etc
Small business can use micro payments, square pay etc which is ~2% so no transaction is to small
The transaction fees hit you however CaxtonFX and Kalixa offer competing cards with lower rates. 1.5% commission or so, comparable to any other currency converter. There are a few pit falls but OMG is it easier and cheaper. It's now available for all currencies and you can with draw cash too.
Otherwise Halifax had a Clarity card which had 0% overseas rates and the Alliance & Leister a similar deal.
With minimum spends, contactlesd is cheaper and you pay a % with no gateway fee so there should be no minimum. A standard debit card costs ~40p in fees so the merchant gets a hefty bill for small items. Although the actual fees vary for bank, aquirer etc
Small business can use micro payments, square pay etc which is ~2% so no transaction is to small
Unless you loose your card in which case you are boogered.
. Hard currency kept in multiple places about the person and a drop wallet for me. Obviously not if I'm just going to Yorkshire for the day. Ha ha.^ Agree completely. If you lose your card, you lose your ability to pay for anything now and the ability to get any cash! Plus, whoever has your card only needs to know your PIN to get at your money (and given how many people broadcast their PIN, it's easier than you'd think - some people even write their PIN on the back of their cards).
If you're abroad, this can be problematic. You need to stop your stolen card (which will involve a pricy call back to the UK), but you also need to get money to survive until you get home. Your insurance company and your bank should be able to help you, but it's not going to be an easy or pleasant experience.
I find cash much easier to use abroad. In a lot of countries, it is generally much more widely accepted. In the UK, we seem to use card a lot more than elsewhere, and you can't simply expect your card to be as widely accepted as it is here. I remember going to a small town in Germany over Easter in 2009 (IIRC), for example, and a friend was going to rely on his card. He found it extremely difficult not only to use his card, but even to get cash from an ATM (with all ATMs in this town being inside the banks, which were closed for Easter!). Furthermore, smaller businesses abroad will only rarely accept cards, and I find myself in Europe often spending my money in these kinds of places.
If you're abroad, this can be problematic. You need to stop your stolen card (which will involve a pricy call back to the UK), but you also need to get money to survive until you get home. Your insurance company and your bank should be able to help you, but it's not going to be an easy or pleasant experience.
I find cash much easier to use abroad. In a lot of countries, it is generally much more widely accepted. In the UK, we seem to use card a lot more than elsewhere, and you can't simply expect your card to be as widely accepted as it is here. I remember going to a small town in Germany over Easter in 2009 (IIRC), for example, and a friend was going to rely on his card. He found it extremely difficult not only to use his card, but even to get cash from an ATM (with all ATMs in this town being inside the banks, which were closed for Easter!). Furthermore, smaller businesses abroad will only rarely accept cards, and I find myself in Europe often spending my money in these kinds of places.
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