Butch Posted June 26, 2022 Share Posted June 26, 2022 On the back of the "finnair" thread, I think that by not having had a CC I've maybe done myself an injustice in recent years. Ideally, I'd like a CC that has no annual fee and gives a good Exchange rate on foreign purchases without a big penalty like a Debit card does (250 php or baht transaction fee + crap rate). One upon which I can withdraw cash against it might also be useful. Also, maybe one which offers perks free Travel insurance or breakdown cover etc, FF points with Star Alliance or perhaps an airline other than Ryanair (although not important). If any BM's have any suggestions then they'd be appreciated. I bank with Barclays and I've zero confidence in their products so Barclaycard is out of the window. Wife has AMEX but that has an annual charge. Now remember, I'm a total novice when it comes to CC's, this will be my first one. I'm a Credit Card virgin, you might say... Link to comment Share on other sites More sharing options...
john luke Posted June 26, 2022 Share Posted June 26, 2022 53 minutes ago, Butch said: On the back of the "finnair" thread, I think that by not having had a CC I've maybe done myself an injustice in recent years. Ideally, I'd like a CC that has no annual fee and gives a good Exchange rate on foreign purchases without a big penalty like a Debit card does (250 php or baht transaction fee + crap rate). One upon which I can withdraw cash against it might also be useful. Also, maybe one which offers perks free Travel insurance or breakdown cover etc, FF points with Star Alliance or perhaps an airline other than Ryanair (although not important). If any BM's have any suggestions then they'd be appreciated. I bank with Barclays and I've zero confidence in their products so Barclaycard is out of the window. Wife has AMEX but that has an annual charge. Now remember, I'm a total novice when it comes to CC's, this will be my first one. I'm a Credit Card virgin, you might say... A few things worth considering Whilst you many end up with a no annual fee card, do not immediately eliminate all cards which have an annual fee. Look at them see what each offers, (such as free holiday insurance, free mobile insurance, free car breakdown/recovery service) and see which represents the best value against the monthly or annual fee charged. Credit limit and interest rate do depend on your credit score. If you have banked with Barclays for some time and have a good reputation with them, they may be the best one to go for initially. Mastercard and Visa are accepted everywhere (almost) Amex is less widely accepted. Except for dire emergency a credit card should not be used for obtaining cash from an ATM as you will be charged interest on a daily basis from date of transaction until date the money is paid off. If you are going to use it abroad, check there is no foreign currency surcharge, which can typically be around 3%. I would suggest that you apply for credit cards one at a time. Best not to apply for more than one at the same time. An application for a credit card may initially lower your credit score, however after a while the fact that you have available credit which you are not using with enhance your credit score. Always set up a direct debit for payment of full amount on monthly statement; whilst basic know when your monthly payment is due and make sure you have the funds in your current account on payment date, otherwise your bank will impose an interest charge on any overdraft you use on your current account. Probably a change in your spending procedures, but with all reward/cashback cards to maximise benefits buy everything on the credit card (large and small) and pay of the balance by direct debit every month. Outside UK some sellers charge a fee if you pay by credit or debit card rather than cash. Long term it is good to have more than one card, to cover such eventualities as the chip on the card becoming corrupted or particularly when abroad to cover an eventuality when the bank lock your card for security reasons. I have no connection with the Financial Services Industry; the above are personal observations and must not be treated as Financial Advice. 1 3 Link to comment Share on other sites More sharing options...
Butch Posted June 26, 2022 Author Share Posted June 26, 2022 Thanks @john luke A few good pointers there. AMEX have been very good to the Mrs, but not always widely accepted, especially in the RP much to her disappointment. I'm about to go through the link you provided and see what the results are. VISA seems the more sensible option. One issue we inadvertently hit was that when booking flights on the wife's card, they hit her with a %fee for booking (possibly 2%) plus an "admin fee" (was Easyjet) which, on 4 tickets soon added up. However, Cathay and Singapore didn't, thankfully (and at just over 3 grand for 3 tickets, I'm pleased about that). I know that charges are usually in the T&C's and fairly well established as well as notified at time of payment, but it is still a bit of a minus for me. On balance though, for 3 Tickets twice a year, it is perhaps a small payment for the insurance. Just checked the web link, There's plenty offering 0% for the first 23/ 24 months, so will look further into this. Link to comment Share on other sites More sharing options...
nampla69 Posted June 26, 2022 Share Posted June 26, 2022 Try comparison websites like TotallyMoney. Com lots of others I just like this one ... 1 Link to comment Share on other sites More sharing options...
KWA Posted June 27, 2022 Share Posted June 27, 2022 10 hours ago, Butch said: I bank with Barclays and I've zero confidence in their products so Barclaycard is out of the window. If you can get over your distrust, Barclaycard Rewards Card is actually recommended as one of the top cards for spending overseas. There's a full write up here which details the good ones and ones to avoid. https://www.moneysavingexpert.com/credit-cards/travel-credit-cards/ 1 1 1 Link to comment Share on other sites More sharing options...
Lemondropkid Posted June 27, 2022 Share Posted June 27, 2022 2 hours ago, KWA said: If you can get over your distrust, Barclaycard Rewards Card is actually recommended as one of the top cards for spending overseas. There's a full write up here which details the good ones and ones to avoid. https://www.moneysavingexpert.com/credit-cards/travel-credit-cards/ I've got a Halifax Clarity Card recommend by them, the rates on it is excellent. I'll admit though I've been a mug for years and kept on using the debit card occassionally for cash. I've got a Starling Account now, and that that is also a recommended one- the rates on that are also excellent. However if you were just carrying a single card the Barclaycard wins it. I'd be tempted to switch if I wasn't so lazy!! I'll keep on carrying the 2 cards🙂 1 Link to comment Share on other sites More sharing options...
galenkia Posted June 27, 2022 Share Posted June 27, 2022 6 hours ago, KWA said: If you can get over your distrust, Barclaycard Rewards Card is actually recommended as one of the top cards for spending overseas. There's a full write up here which details the good ones and ones to avoid. https://www.moneysavingexpert.com/credit-cards/travel-credit-cards/ I have a Nationwide card as I have banked with them for 20 years with no problems at all. Their card came up as one of the best for overseas travel regarding fee's and exchange rate. 1 Link to comment Share on other sites More sharing options...
Spyder Posted June 27, 2022 Share Posted June 27, 2022 11 hours ago, Lemondropkid said: I've got a Halifax Clarity Card recommend by them, the rates on it is excellent. I'll admit though I've been a mug for years and kept on using the debit card occassionally for cash. I've got a Starling Account now, and that that is also a recommended one- the rates on that are also excellent. However if you were just carrying a single card the Barclaycard wins it. I'd be tempted to switch if I wasn't so lazy!! I'll keep on carrying the 2 cards🙂 I have a clarity card and used it for years when travelling. No foreign transaction fees. To get cash I take it in the bank rather than use ATMs. You are charged interest on cash but I bank online and pay it off straight away. 2 Link to comment Share on other sites More sharing options...
Butch Posted June 27, 2022 Author Share Posted June 27, 2022 (edited) Barclaycard looking very good, even if they did shaft me on my endowment policy in the 80's. "you'll be able to pay off your mortgage and retire" the advisor said. Yes it would, if my outstanding mortgage was £13.77 and my retirement budget £20 a month. Tossers. Anyway I got compo so it wasn't all that bad, but struggling to pay the £50 pcm in the 80's was no mean feat. Halifax running a very close second as well, time for a bit of small print reading on both I think... Edited June 27, 2022 by Butch 1 Link to comment Share on other sites More sharing options...
KWA Posted June 28, 2022 Share Posted June 28, 2022 21 hours ago, Lemondropkid said: However if you were just carrying a single card the Barclaycard wins it. I'd be tempted to switch if I wasn't so lazy!! I'll keep on carrying the 2 cards Always need 2 as a minimum in case one goes tits up. I've got the Halifax Clarity and a legacy MBNA one with no fees and 1% cashback. 2 Link to comment Share on other sites More sharing options...
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