I've just had a letter from Barclaycard
Headline: "No cash withdraw fee for using your card abroad"
Paragraph that immediately follows: "with your Barclaycard there's just one straightforward 2.99% fee for foreign transactions and cash withdraws when you're away."
No fee = 2.99% fee!
Umm, not quite what it says.
There's a fee - 2.99% - yes. But that's a "foreign transaction" fee, applicable whether it's a cash withdrawal or a purchase. There is no difference between a purchase or a cash withdrawal, ergo there is no cash withdrawal fee.
If you want a credit card to use overseas, go for a Halifax Clarity card. There are no cash withdrawal fees and no loading on the exchange rate. All you pay is interest on any cash withdrawn, which is charged at a relatively low rate of 12.9%. You can minimise even that by transferring money from your bank account to cover the amount of your cash withdrawal, so you only pay interest for a couple of days.
Chris
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