Cash, Card or Travellers Cheques?

[k-herm]

Hi all,

In your experiences what do you use/what is the cheapest way to pay for things while in Florida?

I was just about to order a lot of travellers cheques from travelex but then I thought, would I be better off using a credit card for most purchases (meals, presents). Are switch cards any use or should I always use a Visa or Mastercard?

Thanks in advance.

 

[Goofyish]

Using a credit card will give you a better exchange rate then getting cash or TCs (unless the exchange rate falls a lot while you are in Florida ).

You will get a rate that is somewhere between the bank rate and the tourist rate with a credit card. Most credit cards charge a fee for foriegn transactions (this is applied by reducing the exchange rate). A few credit cards don't charge for foriegn transactions- Nationwide for one.

I usually take a little cash and a few TCs and then use my credit card (or if staying at Disney charge to my hotel room and then pay by cc at check out).

You can also get cash from ATMs (cash machines) - you usually get a charge for this so best for a few large withdrawls rather than a lot of little ones).

 

[Beejayjay]

This is a matter of preference to some extent. Each way to go has it's benefits and disadvantages.

Travellers cheques are convenient - just about all retailers take them, often without ID - and you have the added peace of mind of knowing they will be replaced if they are lost or stolen of course. I usually take at least some of my funds in TC's.

Credit cards again afford you purchase protection, but I've found that if you use them to draw cash, the fee's can add up and you get a nasty surprise when the bills arrive. It's only a few percent on paper, but if you use your card a lot... The exchange rates tend to be competitive however.

I find the ATM cards like Switch very easy to use. Switch isn't a recognised system in the USA, but now it is converting to Maestro, which is. Cirrus cards also seems to be widely accepted.Again, you get hit with a transaction fee, but it tends to be smaller. And you can further reduce these fees by making larger than usual withdrawals - make one big one rather than 2 or 3 smaller ones if you feel comfortable having lots of cash. I don't personaly find this a problem, especially since most hotels and many villas/apartments now provide a safe.

As I said, it's a matter of preference to a large extent - it depends a lot on how much security concerns you I guess.

Sorry I can't be more decisive !

 

[Grumpy John]

In all the years we have been going to Orlando (my two sons are 24 and 22) we have only ever used a credit card. We take a bit of cash to tide us over otherwise we ensure that the money is in our account in the UK and pay for everything on the card.

Never had any problems with ID etc. It also means you do not get a big bill until a few weeks after you get back.

At the end of the day it is all down to personal choice.

If you feel happier with TC that is what you must do. We all have our own preferences and what we feel comfortable with.

 

[k-herm]

Thanks for all your replies - it does seem that the credit card would be the most convenient option.

However, we are not going for another 12 months and IMHO I would be doubtful as to whether the exchange rate will stay at the 1.7 or so that it is now.

So it might be a good idea for me to buy some TCs now in anticipation of the exchange rate being rather poorer next October. I guess this would also have the advantage of paying for more of our holiday before we go rather than waiting for a huge CC bill once we're back and it's all a memory.

Ohhh, I don't know

 

[Miffy2003]

I take a mixture of cash and TC's. Mostly because with the TC's I use $100 a day TC at the beginning of the day and then "live off" the change for the rest of the day. This way we have budgeted and paid for our spends before we get there. Also as you say you can lock in a good exchange rate.

We always have a CC too and use this occasionally for "bigger" purchases and would always take at least one in case of emergencies (such as seeing a really nice Snowglobe, for example )