Credit Cards and using abroad

[UKMuFFiN]

Guys, I havnt got a clue about credit cards but I need one for when I go traveling to Oz, Cook Islands and New Zealand, Halifax (who im with anyway) have sent me this Halifax One Mastercard application which looks pretty good with 0% APR for the first 9 months which will cover me until I get back and 12.9% after that.

My question is about using it abroad, does this 0% promotion work abroad because ive read the small print and they say:

General Card Conditions

5.4 If you make transactions in a foriegn currency, we will change the amount to sterling at the exchange rate used by the payment system. We will charge 2.75% of the value of each foreign-currency transaction

5.5 We may charge for the following special services,
...
Processing any foreign currency payment you send us - £10
...

Does 5.5 mean that I'l get charged £10 every time i pay off the transactions I make out there and I get charged 2.75% on them too?

So is this typical of credit cards or are there others that are better for use abroad?

Cheers guys.

[tiggerai]

I think the £10 is if you make a payment to the card in another currency. E.g pay it off in euros or something. It's not for purchases.

I've used my MC abroad and they just charge the 2.75% commission for the exchange.

[Taz]

If you draw cash you get hit by a fee (eg. at an ATM or a foreign currency shop). If you buy stuff then your credit card company just converts the foreign currency to GBP on your next statement - the conversion rate is usually very poor!

The Halifax point 5.5 would not normally apply to you unless you sent your credit card company a bagful of Euros or Dollars to credit to your account, in which case they would levy the £10 fee.

[UKMuFFiN]

Thats ok then, I can use my debit card to get cash out and use it to pay my credit card off too right? I wont use it that much anyway, just when I have to.

Props for the fast replies, all i did was take the dog out. :-)

[vinnyT]

This site- http://www.moneysavingexpert.com/creditcards - has all the info you need about credit cards (and just about everything else moneywise).

Enjoy your trip.

[UKMuFFiN]

Ahhh, is this that guy who's on radio 2 sometimes?

[vinnyT]

Ahhh, is this that guy who's on radio 2 sometimes?

yeah I think so, he's seems to be on anything related to (saving) money. He makes alot of sense too, ulike many other 'experts', he presents his points in an understandable manner.

[TooNice]

Last time I checked, the Post Office Master Card does not charge extra for foreign currency payments. I might consider them for my next credit card just for that.

[luap.h]

use that site - it really helps

I opened a Nationwide bank account specifically for going on my trip to the USA last year. Meant I didn't get stung for conversion charges

[b0redom]

Yeah, I 2nd the Nationwide one - we used ours all over the world (Africa, Australasia, S. America, Asia) you will get a slightly worse exchange rate though - that's how they make up for it IIRC.