cash or credit

[jakoky]

Hi there, we leave for DL 2 weeks today ....and for all of us canadians, our dollar is making this trip much better....but i am really torn about what to do for our trip for money....As the dollar is higher than it has ever been so the thought of converting all our money to american is so tempting, but the thought of carrying tons of cash scares me...my idea was to bring a small amount of cash, maybe some travellers cheques, then use my mastercard and either prepay what i think we'll spend or pay it when we get home....are travellers cheques hard to cash down there? My biggest concern is my kids as they will each have a few hundred dollars and i worry they will "misplace" it....what do others do when it comes to the money matter.....cash or credit???
thx so much
sharon

 

[Mom2micayla]

Personally I prefer my debit card. No worries about misplacing my money or losing it. But then I don't have to worry about the currency exchanges.

Traveler's Checks aren't hard to use here at all. They are considered the same as cash.

Can you buy the traveler's checks in US$ and still get the same exchange rate? I'd probably do that. I'm assuming that your traveler's checks are trackable and guaranteed to be replaced if they are lost like ours are, right?

 

[jakoky]

yes, u are right about the travellers cheques...so if lost, they could be replaced which would reduce one worry.....that may be our best option and that charge for them is minimal, i think on 1000 dollars it is only about 10-11 my cost......thx so much
sharon

 

[eargal]

I live near the border in WA state and visit Canada fairly often. When crossing the border that direction we tend to get a substantially better exchange rate using debit or credit cards than you would by exchanging funds directly. I would do a quick check to see what rate you would get on traveler's checks and then call your bank to find out what rate they are currently using on card purchases. You might be suprised.

 

[blackjackdelta]

We carried very little cash when we were there last August. We used our debit card for everything. We had no problems.

Jack

 

[Dukland]

I live near the border in WA state and visit Canada fairly often. When crossing the border that direction we tend to get a substantially better exchange rate using debit or credit cards than you would by exchanging funds directly. I would do a quick check to see what rate you would get on traveler's checks and then call your bank to find out what rate they are currently using on card purchases. You might be suprised.

yeah, what she said. debit and credit cards typically do give you a better rate. I would be going that route. Better rates and safer than having a bunch of cash.

 

[Rapunsel]

I know here in Western New York sometimes the Canadian ATM cards do not work here if they are not connected with a US baank..

Just a thought..

I personally would pre-pay my credit card and get some in US cash. And then charge the rest. We get the best rate when we go to Canada and charge it.

 

[jakoky]

thx so much for all your help...i think i will get a few hundred in cash, some travellers cheques and then use my credit card for the majority of the trip.....the more i charge, the less money i need to worry about packing and losing....thx so much for all your help
sharon