Credit Card

[Mike]

Hi all.

can any one tell me if i was to get a credit card and was to buy some euros from the post office, would this be classed as a cash advance or a purchase?

cheers

mike

[MARSDALEBEAR]

Cash advance ISTR

[Nick M]

Cash advance for definite.

[scruffythefirst]

I just took euro's out of a cash machine at the resort when i got there - the exchange rate from my debit card was pretty good.

[Guest]

I do a lot of travelling and always use a cash machine in the country where I want to spend the money (usually dollars or euros)  The exchange rate is better/as good as anywhere else, no commissions and this outwieghs any cash advance.  Best policy is to use credit card for payment wherever possible to reduce your requirement for cash, but when you do draw cash, try to get all you need in one go.

Happy travelling

John

[Mike]

Thanks all.

mike

[JasonR]

If you use a credit card in a cash point abroad, AFAIK you get charged the cash handling fee (and interest until you pay it back), if you use a debit card you don't get charged the fee.  I have always found it is the best way to convert money - just as long as there are cash points where you are going.

[SteveF]

I have a Nationwide flex account - which gives me an ATM/debit card. They don't charge commission or a handling charge on foreign ATM withdrawls, and you get the banks exchange rate. It uses the VISA system - so is accepted pretty much world-wide - all you have to do is put enough money in the account before you go away

[JonnyBoy]

on the subject of international money payments..

i just got billed twice by the new web hosting company i have started to use. To their credit, they noticed the error and refunded the second payment. To my amazement, 90 dollars cost me 50 quid, and when they refunded the 90 dollars back, it cost them 46 quid!

go figure!

Nationwide Flex is the cheapest way to spend money abroad! I will be getting a nationwide account to transfer cash out to Canada.