Currency or Credit

[badger1518]

Hi all

Thanks for the advice on travelex but i have one more question guys. Would we be better off to get currency or could i put the money on my credit card and use that abroad. Would i still get as good exchange rate or better using the card over there?
Thanks
Steve Gale

 

[allie5]

We got a Nationwide CC especially for our trip last December. The tourist rate was around $1.83 when we went, but we got no less than $1.90 (up to $1.94) using the credit card. Plus there was no fee for withdrawing cash from ATMs.

We intend to use it again in Oct as the rate was fantastic. We wont bother with any Travellers cheques next time.

 

[mickg7dyd]

Hi,
I always use my Nationwide c/c as they don't charge any commision (2.75% on some cards) also take a small amount of cash for tips and to use at places that don't accept cards.

Mick.

 

[daxus]

It works out pretty much the same as the Travelex rate if you use a non-Nationwide credit card. And better than Travelex if you do. This is because although credit card companies take a fee, typically 2.75%, this is taken off of the actually exchange rate, not the rate that companies like Travelex offer, which has already had their cut taken out of it. Fotr example the current exchange rate is about $1.88 / £1, so deduct 2.75% which is $1.828. Whereas travelex are offering $1.827. Pretty close....

So unless you have a Nationwide card, do whatever you find most convenient.

Have fun.

 

[daywalker]

I'm not sure if loading your credit card up and then drawing cash from it is a good idea, I 'think' that you may still get charged a cash advance/handling fee.

Honestly for the time it takes to open a new account, get a nationwide flex account to draw cash from and a nationwide credit card for purchases, repeat to fade.....................................................