Credit Card Advise wanted

[waddo]

TRNC resident, UK citizen, maybe still an EU citizen (lol), retired, on pensions all paid by UK (DWP/MoD, etc), no private pensions. Currently holding UK credit cards. Thinking of the future - or lack of - and realise that I am principle card holder/account holder to joint accounts. No problem with accounts as they automatically transfer to wife when I die BUT credit cards will die with me.

Looking for new credit cards for myself and wife.

Any suggestions for the readers please???

[Chriswright03]

Cannot speak highly enough of the Revolut card which is a pre load card that you put your money on as and when you want to and then use it wherever. Lots of info on here about it Waddo. It isn't credit but debit so not sure if that is what you are after. No charges for using it here plus you can take money out of the atm without charges 'most' of the time. I believe there is a small charge at weekends but I never use it for that. There is no charge for currency conversion either.

http://www.kibkomnorthcyprusforum.com/v ... ut#p227606

[pc4854]

Your wife can have her own card on the same account with Nationwide as mine does and maybe other banks as well but not sure what happens if one of you dies. Assume that the account will still operate on her card if you pop your clogs. The great thing with Nationwide card is no commissions charged on any foreign transactions but of course you have to accept their exchange rate, which is pretty fair I think.

[waddo]

Chriswright03, Many thanks for that, I have had a quick look at the Revolut card and agree with you on all things but I have not yet found out what happens to the card (and the cash on it) when I suddenly snuff it! We only keep the credit cards we have (Lloyds/Nationwide) and use them sparingly to ensure they stay valid because they do us that essential "emergency" backstop if we suddenly need funds of up to £20K - that being our credit limit between the two cards. They would allow us to payback any "emergency" costs over time instead of reducing our minimal savings to zero! That is why I look for new credit cards but the Revolut card will become part of our lives later on this year, once finances have finally stabilized for us.

[waddo]

pc4854, We already have Nationwide/Lloyds credit cards but sadly as I am the principal account holder on our joint account, when I snuff it the cards (automatically) die and she has to apply for one herself! As you know, you can't have a Nationwide/Lloyds credit card (or bank account - quiet now) if you do not live in the UK! Neither bank cares that we have not lived in the UK for the past 12 years and so long as we don't make a noise about it, they just ignore us. It makes me wonder how the people who work abroad (gas/oil) manage to have UK accounts when they may also have lived abroad for many more years than us?

I understand it is all about money laundering but if I had enough money to afford to wash it I would be well happy - lol, as it is I just try to stay legal and ensure that my wife will have an easy transition to single life in the - far distant I hope - future.

[Yes and no]

pc4854, We already have Nationwide/Lloyds credit cards but sadly as I am the principal account holder on our joint account, when I snuff it the cards (automatically) die and she has to apply for one herself! As you know, you can't have a Nationwide/Lloyds credit card (or bank account - quiet now) if you do not live in the UK! Neither bank cares that we have not lived in the UK for the past 12 years and so long as we don't make a noise about it, they just ignore us. It makes me wonder how the people who work abroad (gas/oil) manage to have UK accounts when they may also have lived abroad for many more years than us?

I understand it is all about money laundering but if I had enough money to afford to wash it I would be well happy - lol, as it is I just try to stay legal and ensure that my wife will have an easy transition to single life in the - far distant I hope - future.

You can have a Revolut card each,link the 2 and you can transfer to your hearts content, you can have your wages paid to the Revolut card so I presume you could have your pension paid on to it also,just a thought like,might make things easier for you.

[waddo]

Now that is an idea worth thinking about! Having pensions paid into the card may be a good answer depending on how safe and secure the card is? Very dangerous game to have all eggs in one basket! Thank you for the information, lots to think about now.

[Yes and no]

Now that is an idea worth thinking about! Having pensions paid into the card may be a good answer depending on how safe and secure the card is? Very dangerous game to have all eggs in one basket! Thank you for the information, lots to think about now.

I’ve had a Revolut card for over a year now used it in cyprus,India,uk,Miami, to name a few, and found it to be perfectly safe. I like the transfer to cyprus bank account,it’s free! The exchange rate is the local rate wherever you are in the world,so nobody is making on you, so if you had the pension paid on it you could just use it freely not worried about the exchange rates. I don’t get my pension for another 20 odd years yet,but if I did I think I would consider having it paid on to it. Good luck whatever you decide to do.

[sammydavis]

Waddo - we are in same position and have tried to get another credit card. We live here permanently and so with a non-uk address, N'Wide (with whom I bank) and other credit card companies will not allow it without a UK address. We have retained our MBNA card for emergency use, (this was taken out when we had a UK address before coming here ) but are now having to pay high interest on any purchases etc. Would love to know the answer to this and be able to do a 0% balance transfer. From the above comments, Revolut card is not what I think of as a credit card, whereby one can in effect borrow money or pay for goods and pay off as and when.

[Chriswright03]

Revolut is not a credit card Sammy as you quite rightly point out and all you are doing is pre loading it with your own money and then using that.

Waddo I am unsure about what would happen with the money on the account in the event of your death but I would fully expect it to be the same as any other bank where it is sorted out via a will. I am sure an email to them would produce an answer. Also as has been pointed out if you have a joint account the problem would be resolved.

[Agobard]

If you have a joint account here in TRNC, your wife could apply for a card on this. If she is the main card holder, the card would continue if you passed on by.

[wanderer]

Best cc is Halifax Clarity for exchange rate and no world fee for currency
Cant help with no UK address as the banks are a pain for security
Starling for converting cash into local currency but not a credit card
Always have credit cards in your own name wife the same avoids the death issue its the opposite rule to current accounts
Current accounts are joint and several so if one pops off the other carries on
Credit cards are appendages to the card holder and the card dies with the names holder cosignatory just left hanging with no facility

[sammydavis]

So by the above comments, can i assume that once living here, it is not possible to find a credit card because of no UK address??? How do other folks manage or does the card always have to be issued from the country one is living in?

[PapaBravo]

I too, have been considering an electronic card like Revolut, but have some concerns. I checked a few on Google Play Store and read the 'Comments' section on each of them. Most comments were either 5 Star, or 1 Star, and among the latter there were some horror stories - accounts being frozen without warning, no 'human' to talk to etc; you need to read them yourself to get a feel for what their service is like. I am aware that people are more likely to complain about problems they have, rather than complimenting the company on good service, but it is difficult to ignore the number of 1 Star comments posted against some of the companies. I have to add that many who suffered problems used the account as their primary bank account, so that if the account was frozen (for whatever reason) they were left without any funds to pay living expenses - now that is scary!

I will probably go ahead, but keep only limited funds in the account and definitely will not use it as my primary bank account. My preference, at the moment is Starling, which had fewer bad reviews, but have just been told about Monzo, so will now research them.

[PapaBravo]

Update on Msg 14. Have just read the comments on Monzo and there were way fewer 1 Star reviews. One thing I noticed however, some of the reviews on the site (both good and bad) seemed to be 'word for word' the same reviews I have read on other mobile bank sites. Make of that what you will!

[steve8290]

What you have to consider with cards such as Revolut even though they are a prepaid card that you have to put funds on, many people and companies are using these for "money laundering." The authorities are monitoring these cards, so if you use the card for normal purposes, have wages, pensions etc transferred into the card and you use it in a normal manner then you will have no issues. I have had my card now for almost 4 years and have never had any issues with it.