Downside to using credit card for spending money

[mickg7dyd]

Hi,
Anyone who is in the USA at moment and decided to use a credit card instead of buying currency in advance might be regreting it. This time last month you could buy dollars from Travelex $1.95 to the £. Today even if you used your Nationwide card (no fees) you get only $1.87. Maybe a good idea to do 50/50?

Mick.

:cool2:

[kristieuk]

Totally agree. All too often, the advice is to use the Nationwide card for the best rate, and of course that would apply if you were considering buying $ today or using the card - but you can't protect today's rate by using a card in the future, and that's the big down side.

I have played safe and bought as many " as I can afford while it's been at $2 = £. I would never bank on a future rate by planning to us the card. This has caught me out before. 50/50 may be best advice, but in my view, $2 = £ is about the best I would hope for.

[Snowy-girls]

This is the reason why i like my pre-paid Fairfx card.You get the rate on the day you put your money on.$2 for the £1 for me :cool1: when i go.x.

[lucy_love_]

we use our credit card mainly and only take a small amount of cash compared to what we spend. we put all our meals on the credit card.

dh travels abroad for his job and he also uses it then rather than getting lots of currency

i just pay the balance all the time when hes away and pay the balance as soon as we get home from holiday.

just suits us that way. also the company who we have the credit card with are **** hot on fraud and they are always sending letters asking us to ring and confirm purchases

[Lizzybear]

The rate may be worse but for me the security of using a credit card outweighs that, especially since not everywhere takes travellers cheques as readily as in Florida. There is no way i'd even consider taking more currency than we already are to California. I looked at the Fairfx card but didn't feel comfortable using it.

[madmumof2]

I love my FairFX card too. I know exactly how much I'll get when I spend it over there.

[jackieleanne]

Yeah I got my fairfx card as well as money but id never take travellers cheques they seem to much hassle. I also plan on using my credit card mainly for purchases at the end of holiday if we start to run out of money.

[stoneyloon]

For the security (and points), I too will be mainly using the CC. I plan to put everything Disney on the room card and settle up at the end of the trip. I have booked some $ too, for when we go offsite, tips etc....

[rickhasco]

I don't think the OP's rationale is a truly fair comparison. Many people only buy their currency just before they Fly hoping against hope that the following day, the rate will plummet and they can rest easy knowing they've got a bargain. I doubt anyone would be comfortable taking all the spending in cash for security reasons as has been mentioned so it's finding a happy medium. I think the Fairfx Card is a double edged sword. Great if the rate goes down after purchase as it's doing now. But buying currency is a gamble in my opinion and people locking in an approx 1.90 rate now thru Fairfx will feel gutted if in 2 months time, the £ bounces back and you can buy in at 2.10.(when the Nationwide Card wins)
It's all swings and roundabouts-best thing is to buy your currency then ignore the rates:thumbsup2

[stoneyloon]

best thing is to buy your currency then ignore the rates :thumbsup2 - Sound Advice :thumbsup2

[Shooby doo]

Just a little horror story to remind us all that things can go wrong. A friend has just come back,staying at the Days Inn I-Drive,he decided to take a small amount of cash & use his credit card for the majority of the holiday.3 days in they decide to have a pool day only to return to find their room trashed & an empty safe!:scared1: Passports,credit cards the lot,fortunately they were out there with friends who were able to lend them some money but if that hadn't been the case...... We normally take T-cheques because of the added security of them being replaced if stolen.
SD:thumbsup2

[Snowy-girls]

It's all swings and roundabouts-best thing is to buy your currency then ignore the rates:thumbsup2

Very true indeed :thumbsup2 .x.

Just a little horror story to remind us all that things can go wrong. A friend has just come back,staying at the Days Inn I-Drive,he decided to take a small amount of cash & use his credit card for the majority of the holiday.3 days in they decide to have a pool day only to return to find their room trashed & an empty safe!:scared1: Passports,credit cards the lot,fortunately they were out there with friends who were able to lend them some money but if that hadn't been the case...... We normally take T-cheques because of the added security of them being replaced if stolen.
SD:thumbsup2

So sorry for your friend,thankfully they was'nt hurt in the process+were not in the room when it happened.I read this all to often+now prefer hotels which have the safes behind the lobby counter or in a spare room.Still not 100% safe-but better than in the room.x.

[Lizzybear]

Just a little horror story to remind us all that things can go wrong. A friend has just come back,staying at the Days Inn I-Drive,he decided to take a small amount of cash & use his credit card for the majority of the holiday.3 days in they decide to have a pool day only to return to find their room trashed & an empty safe!:scared1: Passports,credit cards the lot,fortunately they were out there with friends who were able to lend them some money but if that hadn't been the case...... We normally take T-cheques because of the added security of them being replaced if stolen.
SD:thumbsup2

Oh no that's awful! :eek: I remember hearing a similar story on another forum except it was in a villa and a load of cash and TCs was stolen from a kitchen drawer. I must admit the room safes do make me nervous, guess you just have to hope it doesn't happen to you. My dad was in Spain a year ago and someone stole the entire safe from the room, joke was on the thieves though as it was empty!!