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Trip Planning Florida Florida Holiday Planning Questions, Suggestions and Tips. |
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18 Jul 19, 04:42 PM |
#1
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Apprentice Imagineer
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Credit Card vs Currency Card
Just had a question posed to me by CC company whilst I was querying something.
She asked me why I was using a currency card in the USA and why was I not just using my CC - To be honest the only thing that I could think of to say was that the exchange rate would fluctuate with each transaction and there would be a transaction fee each time I used it, she just went Oh OK in that sort of way people do when you say something stupid. Please tell me that I am not stupid and am not missing a trick here by not using my CC. We do take it but really only in case we run out of money on the Currency card. |
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18 Jul 19, 05:35 PM |
#2
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Imagineer
Join Date: Feb 13
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In my opinion, there is no good reason not to use the credit card.
You don't have to mess around putting money on and off; cc is fully covered for fraud, you dont have to spend your own money and just settle when you get home. To me there are no advantages of a currency card as long as you have something like Halifax Clarity with no fee and get the inter bank exchange rate (the best rate achievable). Some will say that a currency card allows you buy currency when the rate is good, but in reality you have as much chance of losing money this way as no one knows how the currency markets move (if they did they would be billionaires). To me the only benefit for a currency card is for those who cant get a credit card. Edited at 05:36 PM. |
18 Jul 19, 07:30 PM |
#3
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Getting to know the DIBB
Join Date: Apr 19
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I would recommend trying Revolut. You can either preload it if you want to guarantee the current rate or you can pay as you go from your GBP balance. You also get mid-market rate so is better than currency cards like FairFX. Also, if you have a balance in other currencies you can change it back to GBP at whatever the rate is at the time.
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18 Jul 19, 08:07 PM |
#4
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Imagineer
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Another vote for Halifax Clarity. You get the base rate rather than the tourist rate, no transaction fees and it’s far more secure as they’ll cover fraudulent transactions etc.
__________________
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19 Jul 19, 10:53 AM |
#5
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slightly serious Dibber
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I would echo what tspill has said but add, any purchases over £100 you get s.75 protection so say you were to buy a tablet in bestbuy and it was defective on return home, your CC company would be equally liable
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19 Jul 19, 01:12 PM |
#6
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Earning More Ears
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I haven't used a currency card but I do have the Halifax Clarity CC and I have never had any problems with using it in the states and I didn't have any transaction fees.
The rate didn't fluctuate much over the two weeks I was there only by a few pence but I was stuck with the rate whilst I was out there as opposed to buying when the dollar hits a good rate. Also another good thing about the clarity card is they don't charge you for cash withdrawals when you are abroad in case you are really stuck and need cash (although you do still have to pay the atm fee if it charges one for cash withdrawal) Hope any of that is helpful |
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19 Jul 19, 01:50 PM |
#7
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Apprentice Imagineer
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Halifax Clarity every time.
Beware most other CCs charge a 2.95% transaction fee on purchases, which will bring it in line with Currency Card exchange rate Did have a currency card for my daughter who was doing a solo trip to US, and she was too young for CC, and it worked fine for that. |
19 Jul 19, 02:14 PM |
#8
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Thread Starter
Apprentice Imagineer
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19 Jul 19, 02:51 PM |
#9
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Imagineer
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I suspect that's why they were asking why you were using a currency card and not their credit card. They wanted to pocket the 2.75% transaction fee every time you used their credit card abroad.
Otherwise, I agree with what tspill said. We use our credit card over there just like we would do over here. So there's no additional faffing about moving money into the currency card account; we just carry on as normal.
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DLC: Jun 1996 // DLP: Aug 2013 // WDW: Dec 1997 | Feb 2000 | Mar 2001 | Feb 2006 | Oct 2010 | May 2012 | Aug 2014 | Apr 2016 | Apr 2023
~ Trip Report Indexes ~ Edited at 02:53 PM. |
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