santander/abbey zero card

[ScouseIan]

Sorry if this has been asked before. forum search useless.

I'm going away next week to Greece (flying). I've got this credit card so it is going to get used for everything I can. My question is about cash withdrawls. At the moment, the euro rate is about 1.16. On th high st we get about 1.12-1.14. So converting £100 I will actually 'lose' about £3. If I withdraw cash with my abbey zero card whilst in Greece I should get a rate of 1.16 (I hope, I haven't used it yet) but will pay interest at 27.9%. Over one month this is less than the £3. Plus if I pay the credit card off as soon as I return then the interest on £100 should be less than £1.

So if I'm changing £1,000 to euros I should be £20 better off doing it that way. Better in my pocket than the banks.

Does this make sense to anyone else? Anybody got experience of this?

Regards

Ian

 

[smiley]

Hi Ian

Do you have to pay a charge for withdrawing our the wall?

If so take this off as well.

 

[ScouseIan]

No, no charge. Sounds too good to be true doesn't it.

 

[vectisrambler]

Why not pay your cash withdrawals 'up-front' before you leave and pay no interest at all?

 

[ScouseIan]

Yes I was thinking of doing that Phil. But I haven't had many responses on here about the basic experience of the card (ie, whats the catch) so I didn't extend the question to that. The other problem is that I think any payments made are used to pay off debts, then purchases and finally cash. But its a good idea all the same.

Cheers

 

[tigger2]

Hi

This is rated as one of the best cards to use abroad. The next best one is the Nationwide flex card but this is a debit card, there are no charges with it.

We always use this when abroad as you get the bank rate not the tourist rate.

There is a website that is helpful, it is http://www.moneysavingexpert.com you will find info about the Abbey Zero card.

Hope this helps

Tigger

 

[JoannaLesley]

I was checking this out on the MoneySupermarket web site last night and there was a Saga Platinum card which seemed as good an option as the Abey Zero and the Nationwide cards. Worth checking out, but you need to be over 50.

Jo

 

[ScouseIan]

It was through moneysavingexpert.com that I got the card. I was asking a question that I couldn't find on their site. Its ok, I'm going to try it anyway. I'll post back the costs when I find out.