Help me decide on cash/DD/Traveller's checks/credit card...

[beattyfamily]

Now that it's getting close and with Thanksgiving next week, I'm stressing about everything, even the little things like this! HELP!

Ok here's the deal:

We do not use our credit card for vacation without either putting some money on it before we leave or paying it as soon as we get home. This credit card, although the balance is low, is near the limit so whatever I put on it is what we can use on it. I don't want to put too much on it and end up somehow not using it all at WDW so I want a happy medium to cover the National rental car and maybe incidentials at the hotels or gas whatever.

I also could bring and use my debit card but I wouldn't want to give it to a hotel (and can't use with National car rental) but could use it as a VISA at restaurants or for gas etc...don't like this idea really.

I have $2238 to work with for Sat thru following Sun (really 7 days) at WDW and Universal with 4 sit down meals.

I was thinking:

$375 in Disney Dollar (which I already have)
$38 (set aside already in envelopes for tips)

Here's where I'm not sure what I want to do:
$700 on CC to use
$700 in Travellers checks (first time doing this; free at AAA; these would be to put toward the hotels for charging back to the room)
$425 Cash to carry (put most in safe use as needed)

Total: $2238

What would you do?

Thanks!

 

[safetymom]

We use our debit card for all of that. I also use it when renting a car. Never had a problem with the several debit cards I have.

For renting a car we rent at Hertz. I am #1 Gold and the debit card is in my profile so it isn't a problem.

 

[TRAPPED-PARENT]

I've used a combination of

- Credit cards (for hotel, big meals, big ticket items, gasoline)

- Traveler's checks (for large expenses where I either do not want to use a credit card, such as airboat rides - these are also good for obtaining more cash without using an ATM - like at the grocery store, etc)

- Cash (for in the parks and smaller incidentals)

Like you, I like to have money set aside before the vacation, so will just keep part of it in the bank and then use it to pay off what we charged on the trip.

I know this is not a popular opinion, but I am not sure why people bother with Disney Dollars ... you are just restricting yourself to where you can spend the money. What if your car breaks down and you need "emergency" money ... you certainly can't use your Disney Dollars! [Now I sound like my mother!!!]

Have a good trip!

 

[WDWisTheBest]

I also think that the Disney Dollar approach is not one that I would use as much as others do. But, you already have them, so you are set for Disney-type expenditures. Depending on how much you want to spend at Disney, perhaps you might want to use some of the cash toward the credit card balance. Then you would have extra money available for other expenditures such as gas, emergencies, etc. Many posters send money to the credit card company in advance of the charge for the lodging at Disney or other anticipated and fairly-well known expenditures.


You might want to watch the debit card like a hawk though. I would keep it in the safe with the cash unless needed. What would happen to your stress level if the debit card were lost or stolen?

No matter what you decide to do in the allocation, you will have lowered your stress level by knowing that you don't come back home with unplanned debts. Good going and enjoy your trip.

 

[disneyatl]

Charge to your room key and then you wouldn't have to take much cash into the parks. You can pay off your charges with cash every day at the front desk. Just a thought.......

 

[beattyfamily]

Thanks for the replies...

I will probably pay the $700 on my CC, bring the $375 in Disney Dollars and use them first, Bring the rest in cash and travellers checks to cover room charges. I've heard you can give the front desk DD, Travellers checks or cash and pay the difference on the CC. That is what I'll do. I will probably carry $50 - $100 a day cash. I just have to have some on me for emergencies.

I will NOT use my debit card but bring it 'just in case'.

Thanks again.

 

[WDWisTheBest]

Sounds like a good plan. Using the Disney Dollars first for lodging seems like a good idea as well.

Hope you enjoy your stay at WDW.

 

[disneysteve]

Originally posted by beattyfamily
This credit card, although the balance is low, is near the limit

A few comments ...

First, I'm not quite sure what you mean above. Do you mean the card has a low credit limit but you owe almost that much? If so, keep in mind that charging up near your limit can adversely affect your credit rating. Consider requesting a higher credit limit from your card issuer.

Second, I agree with the folks who question the point of Disney Dollars. I realize that you can return them when you get home (with your receipt), but it seems a waste to bring a form of payment that is only good in limited places.

Third, I think traveler's checks are a pain, but that's just my opinion. Much easier to use a credit card (or cash if you so choose).

We recently got back from Disney. I took about $400 cash and came home with almost all of it. We used our credit card for everything we possibly could. We like to run up our Marriott rewards whenever possible. Only time we used cash was for ice cream, popcorn and a couple of other little things. We do pay our card in full each month. Otherwise, I'd never go that route.

Steve

 

[Mom2Ben02]

One of my many hats is a banking one. I use my debit card for everything! That said, I would never use a debit card for paying for a hotel room or a rental car. The norm seems to be that a rental car co holds $300, even if your car is only $150. They don't actually debit it from your checking, just hold it until the car is returned, etc. Same with a hotel - you may have probs with your checking, and those $28 bounced check fees add up real quick.

What I would suggest is checking with your bank to see if they offer "pre-paid" American Express Travel Card. These are relatively new. Basically, you "charge" the card with whatever dollar amt you want to bring, and there is no cash to carry, no travelers checks/disney dollars to lose, etc. You can also recharge it in case of emergency. Here is the link for more info!

http://www10.americanexpress.com/sif/cda/page/0,1641,18622,00.asp

I am so excited - I finally answered a post instead of starting one!

Karen

 

[safetymom]

I don't know what bank you work for but I have never had a problem with my debit cards.

I travel all the time and use my debit cards. For the car rental they hold the amount of the rental and $50. That is fine because I know at the beginning of the trip I will have enough to pay for the car.

The hotels usually don't hold anything. My cards are Visa and Mastercards. I also haven't had a problems using it when checking it and using the cards to pay my balances or use for room charging.

So I would suggest checking with your bank before using a debit card on vacation but it always works great for me.

 

[mickeysaver]

We have saved money and disney dollars. We have a lot of things prepaid. I have about $800 in disney dollars and around $2000 in my checking account set aside for vacation. I will be using my check card. I have plenty of pennies for pressing and we have some change left to exchange for disney dollars and some of it will be quarters rolled and kept for the presses. I have never used traveller's checks, but I know they are a great and very safe way to go. I love the KTTK card. I don't have to present my check card all over the place, but I still get the ability to use it for my purchases. We never use credit cards....I swear they are the devil's own creation. Maggie

 

[disneysteve]

Originally posted by mickeysaver
I have about $800 in disney dollars and around $2000 in my checking account set aside for vacation.We never use credit cards....I swear they are the devil's own creation. Maggie

Maggie - Don't forget, Disney Dollars are a cash equivalent. It is no safer to walk around with a purse full of Disney Dollars as with a purse full of US cash. If you lose them or they get stolen, you're out that money, so be careful. Consider leaving most of it in the hotel safe and just taking out what you need each day.

It's far safer to use a credit card. If that gets lost, just call the issuer and they'll send out a new one and you won't be responsible for more than $50 in unauthorized charges (and many companies wave that if you report the loss promptly).

And you can't beat the credit card reward programs. We have 2 reward cards - AOL Visa and Marriott Visa. We've had the AOL card for about 7 years and have not paid a penny for internet service since getting the card as we always charge enough to generate sufficient reward points. As for the Marriott card, we've had that about 1-1/2 years. This past August, we took a week-long trip to Massachussets and only paid for one hotel nite. The rest was paid for with reward points. As long as you use credit cards wisely and pay the balance in full each month, it amounts to an interest-free loan. Can't beat that.

Steve

 

[Julia M]

I've done vacations two ways:

1. bring a limited amount of travelers checks and use the credit card for most things. One disadvanatge to this method is it can be easy to go over your budget. One way that helps me is I divide up the travelers checks per day (keeping the master list of numbers on them) in an envelope. Then, when I cash the travelers checks, I know when I've "spent my limit". The other thing I do is save all the credit card receipts in the envelope, and write on the outside what I've spent, keeping a running total. It helps me remember what I've spent.

2. The other thing I've done is bring the credit card for emergencies, and again, divide the travelers checks into envelopes. In this case, I keep an envelope for the car rental, hotel, and money for the trip home (so I can buy an overpriced meal in the airport, for example). What's left is divided per day. However, if I know I need more for one day, I account for that (like the HDDR, or two sit down meals in a day). Any extra is taken out at the end of the day, to be saved, or cariried over to the next day (your choice)

Since I have a rewards credit card, I will admit I tend to use it more these days. But I am good at staying to my budget, whatever it is. Sometimes I have plenty of leeway and sometimes not.

My only advice would be to avoid disney dollars. Use credit cards or travelers checks. An if you use credit cards, bring along a spare. if you lose your primary card, it's easily solved (call and cancel) but can take awhile to get a new one. Then you can us card #2. JMHO.

Julia

 

[40plus]

When we go the DW and I decide how much we probably be using for the day then add 100. Before leaving home we spit the total budget at home 50-50 cash and Am Express T. Checks after deciding total amount of vacation fund available. < No charge to AAA members> To prevent over spending and for security we put the rest in the Resort Safety Deposit box. To prevent over use of C.C's we prepay for tickets and Hotel before arrival. Then save C.C's for emergency usage only and for Rental car Deposit. Hope you have a safe and fun trip.

 

[beattyfamily]

Thanks everyone for the advice and well wishes!

It's too late on the Disney Dollars as I've already bought them; $375 worth!!! What can I say, we enjoy spending them till we run out!

I've already pre-paid every thing I could. All that's left is the rental car, spending money, souvenirs, tips and food.

I'll probably put at least $800 on the card before I leave and bring the rest in cash and travellers checks.

NO debit card for me thanks!

Thanks again!

 

[WDWisTheBest]

The temperature in the area today is 84 degrees, it is a beautiful sunny day, and it is ideal for WDW and surrounding areas.

Sounds as if you have done all you could in advance so just enjoy the trip down and the stay here.

As you have said, you will probably use the Disney Dollars first, and for the lodging too if it is onsite, and then do the rest as you said. I think it is a good idea to keep that debit card protected and putting the money on the credit card in advance is also a good idea. As Julia said, putting the credit card receipts together in one place is a good idea to keep a running tally of what was spent on it.

Be safe.

 

[beattyfamily]

Originally posted by WDWisTheBest
The temperature in the area today is 84 degrees, it is a beautiful sunny day, and it is ideal for WDW and surrounding areas.

Sounds as if you have done all you could in advance so just enjoy the trip down and the stay here.

As you have said, you will probably use the Disney Dollars first, and for the lodging too if it is onsite, and then do the rest as you said. I think it is a good idea to keep that debit card protected and putting the money on the credit card in advance is also a good idea. As Julia said, putting the credit card receipts together in one place is a good idea to keep a running tally of what was spent on it.

Be safe.

Thanks! I've been watching the weather on the 15 day website and so far so good!

I'll definitely use the DD first and I will keep track of all charges!

Thanks for all the advice!

 

[Cheshire Figment]

One other possible consideration is to use your credit card at the time you rent the car, and again when you check into the hotel. Then, the night before check-out from the hotel pay your entire bill with your debit card. Similarly, when you turn in the car, tell them you do NOT want it against the Credit Card but against the debit card.