Dollars v pre loaded card v credit card??

[c3h3a3r]

Hi, I am trying to figure out what's best to do for our trip at the end of July. We are staying off site for 2 weeks, so will need a lot of money for food/drinks/snacks. Previously we took a small amount of dollars and the rest on a pre loaded card. But then if there's any money left on the card, you have to pay to take it off again. I have a halifax clarity credit card (which doesn't charge you to convert currency abroad) but with conversion rate changing daily I'm really at a loss for what to do for the best. Any advice greatly appreciated. TIA.

 

[scottishgirl87]

I feel your pain and unfortunately there's not a one size fits all answer! I was planning to mostly rely on my Halifax Clarity this trip but when the dollar took a tumble last week we ended up loading some dollars onto renewed FairFX cards. So now, I think we'll be splitting between all 3 options - credit card, prepaid card and a small amount of cash. The dollar has slowly climbed back up to $1.42 so fingers crossed it doesn't fall below that again.

Also, I don't know what prepaid card you have but in the past with FairFX we have been able to withdraw the remainder back in the UK for the ATM fee of $2 and I think they also now allow transfer back to your bank for free but I'm not 100% on that.

 

[c3h3a3r]

Pre paid card was a Thomas Cook one back in 2011. Probably a good idea to put some dollars on a card whilst the dollar is at a better rate. Thank you

Next question will be how much to take.....lol

 

[Minniesgal]

We just use our credit card and find that easiest of all as we only need to transfer the amount of money we use

 

[wayneg]

Easy choice for me, I use Halifax Clarity card or use cash I bought at a far better rate. I go to US in 2 weeks, no way would I exchange now, I will use cash I bought at $1.60+ or my credit card with no fees. I wouldn't convert at current rates personally.

 

[saintrob]

I always use my Virgin Altantic credit card and am willing to accept the fees due to the amount of miles I can gain. The flight rewards more than compensate for this.

 

[c3h3a3r]

Guess I'll keep watching the conversion rates....

 

[Elise79]

We use our PO card (same as clarity with no exchange fees) or our US debit card which I draw a small amount of cash out of. I have the US bank account to pay our DVC annual dues by monthly DD so when the rate is better I transfer more than needed to cover them and build up a reserve. At the moment I have just been transferring the approximate amount of our dues payments.

Hedging a little on to a pre-paid card like FairFx wouldn't be bad. I would only do a little at a time

 

[wayneg]

We use our PO card (same as clarity with no exchange fees) or our US debit card which I draw a small amount of cash out of.

PO card has fees for ATM withdrawal, £3 or 2.5%. No withdrawal fee with Halifax Clarity. I found this out in New Hampshire a few years back. I don't withdraw money often but thats when I stppped using PO card as much and started using Clarity more.
http://www.moneysavingexpert.com/credit-cards/travel-credit-cards

 

[Elise79]

PO card has fees for ATM withdrawal, £3 or 2.5%. No withdrawal fee with Halifax Clarity. I found this out in New Hampshire a few years back. I don't withdraw money often but thats when I stppped using PO card as much and started using Clarity more.
http://www.moneysavingexpert.com/credit-cards/travel-credit-cards

We don't ever draw cash on a cc - you get charged interest immediately.

I draw cash on our US debit but if I didn't have that I would just take it with me.

 

[adamlatham smith]

i would not use you bank card in usa as it may cost you use to do so i would remmed a Prepaid Currency Card like Caxton FX
you can walk in you a shop any pay like a normal back card or take money out from atm with you no fee in usa but the cash point may cost in some place like gas stations etc

 

[Elise79]

i would not use you bank card in usa as it may cost you use to do so i would remmed a Prepaid Currency Card like Caxton FX
you can walk in you a shop any pay like a normal back card or take money out from atm with you no fee in usa but the cash point may cost in some place like gas stations etc

There are some cards that do not charge for spending abroad these include the Halifax Clarity and Post office Platinum. In fact they are some of the best ways to spend as they give you full interbank rate on the transaction as long as you pay off in full each month.

 

[Tahariel]

I have the Lloyds Avios Credit Cards (Master Card and American Express) which can be usedabroad for free, so I'll be using them together with some cash. Can always transfer some extra money onto the credit card when needed. I prefer that method to carrying around loads of cash.