Saving/paying/ any $$$ help that can be offered :)

[mommymanda]

I finally booked. We put our $200 deposit down for The Beach Club resort Aug 23-29. Thanks to this site I was able to feel confident in the choice I made and all the things we are going to do.

Now I some help from fellow Canadians about what to do about money while I'm there.

We have an Amex card for the trip. We have cash for 90% of the trip and at this point are going to book than pay off with the cash. That way I can earn airmiles and we can use the points for other things this summer.

We did not get a DDP, my idea was to find out if I can hold a balance on the AMEX and put money on it until our trip so I'm above our limit by the time we get there with enough to cover food (same idea as those who buy the gift cards to cover their meals I guess). Since we are planning to drive I was also going to put funds we'd need for gas and our hotel home on the card.

I'd be putting Canadian funds on the card from home (hence 90% of the trip is saved, its mostly the exchange I ignored).

Since we rarely take trips to US, and those few have been cash only trips I don't know how to plan without.

I am reading about fees and such on cards, where do I find the info if my credit card has them? Is an AMEX even an option? I also have a CIBC Visa and Visa Debit, but I know the debit will charge me $3.00 in fees to use at a machine and I am pretty sure I have a fee for using it across the border. I know using debit I'm charged per use, is that the same for a credit card? Or am I just charged a XXX fee for using it out of country each day?

Sorry I'm a bit of a ramble, hoping someone gets what I'm trying to say and can help me out Thanks

 

[tone.def]

On top of a crappy exchange rate that credit card companies have (inflated exchange of the day), they do charge anywhere from 2-3% extra. So My advice would be to buy US cash at home or get a USD credit card from your bank (I have one from BMO).

You can charge purchases to your room as an on-site guest, so you don't have to worry about swiping your card a few times a day.

 

[ixmnrs]

I agree, AMEX / CDN credit cards are pretty expensive overall. A quick google search will show you what foreign exchange transaction fees are charged and which cards are best. I usually put the big stuff (package, hotel) on credit; usually don't subscribe to the DDP either, and convert a little USD every month to offset the flucuations in the CDN $ (which is pretty bad right now) I accumulate the USD and use that for food and stuff while at Disney (or in the US in general). I find that the Continental currency exchange in the malls offers slightly better rates for exchange than the major banks; but I also have an ING Direct US Account and regular CDN account where I do conversions for the most part. It is tempting to use the cards for the miles / points, etc. but this way, the after holiday bill is not that bad. I found traveller's cheques very inconvenient to use.

 

[mommymanda]

I agree, AMEX / CDN credit cards are pretty expensive overall. A quick google search will show you what foreign exchange transaction fees are charged and which cards are best. I usually put the big stuff (package, hotel) on credit; usually don't subscribe to the DDP either, and convert a little USD every month to offset the flucuations in the CDN $ (which is pretty bad right now) I accumulate the USD and use that for food and stuff while at Disney (or in the US in general). I find that the Continental currency exchange in the malls offers slightly better rates for exchange than the major banks; but I also have an ING Direct US Account and regular CDN account where I do conversions for the most part. It is tempting to use the cards for the miles / points, etc. but this way, the after holiday bill is not that bad. I found traveller's cheques very inconvenient to use.

Bringing cash has been my original plan, same as you I was going to go in exchange a few hundred at a time, as I save it. Since we are driving there/back I need our gas funds, food money, spending money, and money for the hotel on our way home. I just feel odd travelling with what will most likely be $2000+ cash. However, if it means saving a chunk in fees we'll figure it out.

 

[CanadianPaco]

So My advice would be to buy US cash at home or get a USD credit card from your bank (I have one from BMO).

.

Same advice from me! I also have a US banking account. I transfer a little money into each pay all year round. Forced savings!!

 

[prairiesarah]

Same advice from me! I also have a US banking account. I transfer a little money into each pay all year round. Forced savings!!

This is what we have done too - I applied for a BMO US$ Mastercard and opened a US$ account. I am able to transfer $ from my Canadian account to US account at any time, so we had the $ saved. Then we used the US Mastercard to pay for everything and just paid it off as soon as we got home with the money I had in the US account. I wasn't worried about going over the limit, but I am sure I could have prepaid some money onto it before we went if that was an issue. I took my AMEX (and Canadian Mastercard) along too just in case of emergency, but never needed them. It was worth it apply for a US$ Mastercard to save the transaction fees and increased exchange rate that we would have incurred had we used a Canadian $ credit card. Also would highly recommend if you have the $'s and you know you will need X amount in US $ to transfer it sooner rather than later as from all accounts the exchange rate is only going to get worse.

 

[nervous1sttimer]

Get a Sears Mastercard. I LOVE mine. It's administered by Chase, and I find they have a WAY better exchange rate than my Scotiabank cards, plus there is no foreign exchange conversion fee. Works everywhere, and I just pay it off with CDN dollars when we get home.

You get Sears points too, if you care about that. This year I got my kids Halloween costumes for free using the points I had earned just shopping in the States.

 

[Canadian Girl]

Get a Sears Mastercard. I LOVE mine. It's administered by Chase, and I find they have a WAY better exchange rate than my Scotiabank cards, plus there is no foreign exchange conversion fee. Works everywhere, and I just pay it off with CDN dollars when we get home.

You get Sears points too, if you care about that. This year I got my kids Halloween costumes for free using the points I had earned just shopping in the States.

I always use my Sears card at Disney. And it is free. The gift cards are a bonus ($10.00 for every thousand spent).

 

[katt789]

I never use debit when I'm down there, and a friend's debit card wouldn't work in Oct.

I will usually withdraw cash before getting there, or on arrival day, usually $200 or more depending on how long/if I plan on buying souvenirs or not (i go often enough I usually only need food haha).

If I go over, I use my cibc visa card for stuff and haven't had any big issues or charges with it!