Road Tripping in the USA!
- Thread starter [TW]Fox
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Actually no you won't - you'll get a very good exchange rate, but it'll then be modified by the 3% charge and, if applicable, the cash withdrawal fee.
Some card products ie Halifax Clarity do not load the exchange rate and charge no other fees either (Bar interest on cash withdrawals).
lol, 'the only downside'? yea and the fact you genuinely do get, to quote you, 'an absolutely crap exchange rate'.
Prepaid cards are for people who can't get credit, it's a bit of a Fisher Price My First Travel Money solution and they should be avoided unless you have no other option, IMHO.
Take the right credit card and just use it like you would in the UK.
Get a credit card. Cheaper and safer, especially if you fill up with gas out here as there are skimming cards on far too many of them
Why do people get in such a pickle with "travel money", this is such a dated concept. The world is such that you do not need to take "travel money" anywhere as you did in the 1970s.
Ignore the fact you are crossing a border completely, make sure you have the right card(s) (Flexplus debit for ATM usage, Clarity for purchases for example). You wouldn't take "travel money" if you were going on a UK based holiday, so why take it anywhere? The ATM and Card merchant network is linked world over, there doesn't need to be this differential just because you leave the UK.
Ignore the fact you are crossing a border completely, make sure you have the right card(s) (Flexplus debit for ATM usage, Clarity for purchases for example). You wouldn't take "travel money" if you were going on a UK based holiday, so why take it anywhere? The ATM and Card merchant network is linked world over, there doesn't need to be this differential just because you leave the UK.
To be fair in my last trip I spent a lot more cash and used my card a lot less than I expected to. Especially in restaurants where I didn't like them taking the card away, or sometimes it was just quicker and easier to leave some cash on the table and walk out. With ATM fees it does make sense to consider taking a reasonable amount of cash.
On my last trip I withdrew a total of 40 USD and paid $0 in ATM fees and a pennies-amount in interest on the Clarity for the cash withdrawal. Couldn't care less about them taking the card away. Even completely trivial items like a 70c Soda at a gas station are a simple swipe away.
I therefore still maintain that it makes no sense to take a 'reasonable amount of cash'.
But with the right card if you do decide you want 'a reasonable amount of cash' simply withdraw it from an ATM! Miles cheaper than getting ripped off by crap 'holiday money' places.
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We eat out a lot and i understand the desire to pay in cash for the reasons you have stated, it makes restaurants easier.
But get the cash out when you are there just as you would here! There is zero point taking any additional cash than you would within the UK. You just need to remove the fact that you have crossed a border from your mind.
[TW]Fox;27938075 said:
I'll admit that I'm not clued up on how all this works and I'm just speaking from personal experience. When I've used any of my cards, credit and debit, the transaction ultimately cost more than on my Fisher Price My First Travel Money solution.
Because you didn't take the right credit or debit card - which is the entire point being made
i'd rather stick with my one debit, one credit card, arrangement than have to apply for all kinds of different cards for different purposes. My bank charges quite a bit for ATM withdrawals therefore I find it easier to have cash. Hope that's OK.
Meh, I was in the middle of moving over here so taking out new credit cards/bank accounts didn't make sense. Travel Card ftw, dammit If you want to spend more money to avoid applying for a single additional card then obviously its entirely your decision to make, just don't recommend it to others as if its some sort of sensible solution as it's not
You don't need 'all kinds of different cards' - you need at most one additional card, a Halifax Clarity or similar product. You make it sound like some sort of protracted ordeal to which buying a huge pile of USD from a travel agent is some sort of easier option. As I said at the beginning of the discussion the only real reason avoid this method is if you cannot obtain the product in question for whatever reason.
To sum up, cash allows:
No additional cards
Can monitor exchange rates before the trip to try to get a good rate
Can keep help track of spending throughout the trip
Easier in restaurants etc
Keeps down ATM fees (obviously will top up)
Can be used in an emergency even if there's a problem with the card(s)
Works for me. Clearly doesn't work for you.
No additional cards
Can monitor exchange rates before the trip to try to get a good rate
Can keep help track of spending throughout the trip
Easier in restaurants etc
Keeps down ATM fees (obviously will top up)
Can be used in an emergency even if there's a problem with the card(s)
Works for me. Clearly doesn't work for you.
Soldato
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Don't have a credit card. Only have a debit card + american express corporate card.
Cash it is then lol.
Cash it is then lol.
Don't have a credit card. Only have a debit card + american express corporate card.
Cash it is then lol.
You'll need a credit card unless you want the car rental experience to range from 'absolutely enormous pain' to 'impossible'.
Unless you can use that Amex, which would be fine.
Man of Honour
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I suppose it depends how much money you're planning on spending over the trip but I rather suspect in most cases the amount saved by getting a better exchange rate will be negligible where you're exchanging within say one month of leaving, if it's further ahead than that you're leaving money tied up for quite a while which could be an inconvenience if nothing else. Maybe there's an element of enjoyment in looking out for the best rate and fixing it but it seems like a bit of a hassle when with a decent credit card you'll be getting a good rate (as far as I'm aware).
You could quite easily make a list where credit cards score over cash but as you say in your last line it's whatever works for you.
I got a Clarity card mainly for going abroad and it's been pretty good so far, I do still quite like having cash for some purposes but I use cards far more often than I used to both home and abroad.