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10-2-2019 1:23 pm  #1


Pros and Cons of using a CC

So, on my last trip, i was looking forward to mebbe saving a few extra quid on my bacci by using a CC with no foreign transaction fees.

I thought at first I'd saved another fiver or so but once I got the actual amounts into my account, it cost me about £7 more than if I'd paid in sterling. I was a bit shocked as I thought the exchange rate was pretty favourable at the time of purchase.

So, for people who go across regularly, it may not be a good thing but in my case, even an extra tenner on the cost is negligible as I only went across once a year and still saved over 3-1/2K £ on my years worth of bacci.

I did save a bit last year when I went using my CC and also I did buy a fair few choccies/extras at the shop which would no doubt not have the same discounted exchange rate.

Might be worth people checking the shops discounted sterling rate before deciding whether or not to use their card on their next trips.

Just a thought you understand as I would still use a card anyway because it saves having to carry a few grands worth of cash around, which can cause problems with BF on leaving the UK.


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11-2-2019 12:04 am  #2


Re: Pros and Cons of using a CC

Always pays to check beforehand but as you say there is a price for convenience and security and it's up to the individual what that price is.

On the w/end you travelled sterling was high so I checked the prices. Either the sterling prices have gone up or euro prices have come down. The gap between the 2 is less now and that's what put you slightly out of pocket.

Maybe warrior would know which prices have moved on his favourite brand.


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11-2-2019 6:01 am  #3


Re: Pros and Cons of using a CC

Warrior was telling me that he saved about £30 on his wine coz of using his CC for his purchase so I can only think that A, Real's discounted exchange rate was very good compared to the actual exchange rate and B, I negated the CC savings by buying a fair bit of non-bacci stuff there as well.

He did say that the diesel he bought at Real's Service Station worked out at £1.19 a litre so that was a good saving coz at Asda on the day we left it was £1.24.

No worries for the reasons I stated but thought it may be worth mentioning it.


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11-2-2019 8:54 am  #4


Re: Pros and Cons of using a CC

Pidou exchange rate was 1.12 last week, i got 1.14-1.15  paying on cc, so quite a saving.
Not much at real though using cc, also if you buy uk brands it works out better to pay sterling at real, I bought 200 cigs marked up at £62 but would have been more on cc in euros,plus when i got to the till they gave a £1 discount aswell, so £61.


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11-2-2019 8:55 am  #5


Re: Pros and Cons of using a CC

Diesel was a bonus so filled up, still got just under 1/2 tank left ha ha.


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26-2-2019 12:10 pm  #6


Re: Pros and Cons of using a CC

This morning the pound has been over €1-16, probably the highest it's been since June 2016.

Taking that into account and checking out the prices on Addy websites, it seems prices have been adjusted accordingly because there is very little difference between paying in sterling cash or a transaction fee free CC. Personally I would use a CC for a number of reasons where there is no price difference.

On the other hand Pidou are still offering €1-12. Use a fee free credit card and you will save 70p+ on a £20 spend or about£7-35 in £200. 

As always ensure the transaction is done in euros.


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30-3-2019 7:12 pm  #7


Re: Pros and Cons of using a CC

To avoid any doubt as to what your credit card exchange rate is at the point of purchase, Visa do a ''travel tools app'' for Android and I-phone. In the appropriate Play Stores.

Screenshot-
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Last edited by eezyrider (30-3-2019 7:16 pm)


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01-4-2019 8:21 am  #8


Re: Pros and Cons of using a CC

On reflection, Visa's app is about as useful as a chocolate teapot!

Since I installed this on my phone, the exchange rate has not changed, so it is not a live rate. Also it seems that whatever the rate is at the point of purchase, the actual rate charged is determined when Visa process the transaction which could be up to 2 days later, although my card tends to show the transaction on my account on the day it is used.

Back to using my old method to determine live rates:-

https://www.currencies.co.uk/live-exchangerates/


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01-4-2019 8:32 am  #9


Re: Pros and Cons of using a CC

I find the actual exchange rate you get is determined at the time it actually billed to your account and can change on the day, one time it was 1.14 ,still a saving, but by the time it had gone through probably 2 days later i got just over 1.15.     Doesn't work at real though as they must adjust prices day to day along with the current rate,so it can cost you more paying with your cc in euros.


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01-4-2019 10:49 am  #10


Re: Pros and Cons of using a CC

warrior wrote:

I find the actual exchange rate you get is determined at the time it actually billed to your account and can change on the day, one time it was 1.14 ,still a saving, but by the time it had gone through probably 2 days later i got just over 1.15.     Doesn't work at real though as they must adjust prices day to day along with the current rate,so it can cost you more paying with your cc in euros.

Agreed.

You do get privileged rates at Real, especially on UK brands. My Café Crème, the exchange rate they offer is usually about €1-38. 
 


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