American Express
Dec 23rd, 2014, 08:42 AM
#21
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in finding an ATM when a retailer or restaurant didn't accept my AmEx>
keep in mind that using a credit card at an ATM for cash in many cases - not sure about AMEX - but Visa and MCard means a predatory interest rate from the time you take it out - ATM cards charge only what you local bank charges - mine is a flat $5 fee per cash withdrawal from your savings account - debit cards too I believe.
In any case a student on a typical student budget will find AMEX rather useless - yes upscale hotels and restaurants take it but not nearly all the smaller ones.
A student needs an ATM card from your local bank hooked to a checking or savings account and a Visa or MasterCard - both invaluable and AMEX for typical students rather useless.
keep in mind that using a credit card at an ATM for cash in many cases - not sure about AMEX - but Visa and MCard means a predatory interest rate from the time you take it out - ATM cards charge only what you local bank charges - mine is a flat $5 fee per cash withdrawal from your savings account - debit cards too I believe.
In any case a student on a typical student budget will find AMEX rather useless - yes upscale hotels and restaurants take it but not nearly all the smaller ones.
A student needs an ATM card from your local bank hooked to a checking or savings account and a Visa or MasterCard - both invaluable and AMEX for typical students rather useless.
Dec 23rd, 2014, 09:55 AM
#22
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Flanneruk - My husband is a very experienced traveler … me not so much internationally but always use Amex and always stay and eat at upscale places so I never thought. Wanted her to have a cc for emergencies and to book Ryannaire (Sp?). She knows nothing about it (was going to be an Xmas surprise as it has a $4k limit) and she has saved over $5k (as a Dean's List student at a top university) from various jobs. After getting the Amex it was my traveling husband who said that it would be useless for her. Now, as a working student she can't get another credit card so she's stuck with the Amex.
The Amex would be strictly for emergencies.
How dare you judge whether or not she should be studying abroad or what she's capable of. She's the youngest of 5 … I'm not a helicopter mom … all I've done for this trip is write a check for the deposit so maybe you should keep your opinions to yourself since you're clearly talking out of your arse!!!
The Amex would be strictly for emergencies.
How dare you judge whether or not she should be studying abroad or what she's capable of. She's the youngest of 5 … I'm not a helicopter mom … all I've done for this trip is write a check for the deposit so maybe you should keep your opinions to yourself since you're clearly talking out of your arse!!!
Dec 23rd, 2014, 09:58 AM
#23
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Greg,
That's exactly the scenario we have now. A MasterCard attached to her account which is in my bank and I can make transfers. We also use the Ca$h app where I can put money in her acct from my phone and since it's the same bank there's no hold time.
Thanks for the input … much appreciated!!
M
That's exactly the scenario we have now. A MasterCard attached to her account which is in my bank and I can make transfers. We also use the Ca$h app where I can put money in her acct from my phone and since it's the same bank there's no hold time.
Thanks for the input … much appreciated!!
M
Dec 23rd, 2014, 10:01 AM
#24
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On the subject of credit cards, we often use Discover but not overseas. Yes, we also have American Express and Aadvantage Mastercard. But before our recent trip to Spain we got a Visa BankAmericard and it has a chip (also travel rewards). That worked well in Europe and we also used Visa debit card at ATMs. More and more overseas cards need a chip it seems. Also to mention, we paid in cash a good deal. Note: we are older so don't know about students teveling!
Dec 23rd, 2014, 10:02 AM
#25
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Also, a problem with a debit is when paying for a hotel, they put a hold on funds in your acct for the total amount of stay plus a set fee per day for anticipated incidentals.
Another reason why I wanted her to have a cc … the reason she can't get another is they gave her a $4k limit and with her income, she can't get more. Not sure if there's enough time to lower it and apply for another … she leaves in 2 1/2 weeks and got home from school yesterday.
I suppose it will be fine for emergencies and when she wants to stay in a bit of a nicer hotel … she'll be with a friend so will be sharing room costs.
Thank you to all for your comments which support my husband's experience
Another reason why I wanted her to have a cc … the reason she can't get another is they gave her a $4k limit and with her income, she can't get more. Not sure if there's enough time to lower it and apply for another … she leaves in 2 1/2 weeks and got home from school yesterday.
I suppose it will be fine for emergencies and when she wants to stay in a bit of a nicer hotel … she'll be with a friend so will be sharing room costs.
Thank you to all for your comments which support my husband's experience
Dec 23rd, 2014, 10:24 AM
#26
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OK! Thank you all. I shared the surprise and she did some research and was able to get $2k on a Capital One with 0% til September.
So with her debit which will be her primary method of paying and withdrawing at ATM's, the $2k on C1 and the $4k Amex for true emergencies, I feel like she's covered.
Thanks for the great advice.
So with her debit which will be her primary method of paying and withdrawing at ATM's, the $2k on C1 and the $4k Amex for true emergencies, I feel like she's covered.
Thanks for the great advice.
Dec 23rd, 2014, 10:33 AM
#27
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The credit limit of $4K means you cannot accumulate more than that at any one time. But I didn't think there was anything to prevent you from paying off the charges before the closing period to free up the credit to stay away from the $2K/$4K limits.
Dec 23rd, 2014, 11:08 AM
#29
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BC she was given a decent credit limit, she is unable to get a Visa or MasterCard.>
Well do you have a credit card or can get one - and then you could also put her name on it - like high school kids here often have and students often get invitation for low-credit credit cards as they like to hook them. At least try for one or she will have to carry a lot of money along as have those in the know above said that AMEX is for business-type travelers staying at fiarly posh hotels and eating in fairly posh restaurants.
Not sure how Visa or MC Gift Cards work but they may work well too.
Well do you have a credit card or can get one - and then you could also put her name on it - like high school kids here often have and students often get invitation for low-credit credit cards as they like to hook them. At least try for one or she will have to carry a lot of money along as have those in the know above said that AMEX is for business-type travelers staying at fiarly posh hotels and eating in fairly posh restaurants.
Not sure how Visa or MC Gift Cards work but they may work well too.
Dec 24th, 2014, 07:12 AM
#30
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My student daughter has an Amex that is linked to our cards - but finds it pretty much useless in the places she visits. Some of the low cost airlines don't take it, and youth hostels certainly don't. She has another card that she can use, and uses Paypal, which is useful for some transactions such as concert tickets.
Dec 24th, 2014, 07:52 AM
#31
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This is probably the world's most misleading sentence fragment: "The world's largest international airline, Ryanair."
How is it the "largest international airline" when at least four airlines, all of which fly internationally, transport more passengers?
How is it the "largest international airline" when it does not rank in the top ten for revenues, passenger-kilometres, fleet size, or number of destinations?
Or perhaps the appellation is misleading and designed to make consumers think that because an airline flies primarily short hops across (now open) borders, it is grand in scope.
How is it the "largest international airline" when at least four airlines, all of which fly internationally, transport more passengers?
How is it the "largest international airline" when it does not rank in the top ten for revenues, passenger-kilometres, fleet size, or number of destinations?
Or perhaps the appellation is misleading and designed to make consumers think that because an airline flies primarily short hops across (now open) borders, it is grand in scope.
Dec 24th, 2014, 08:40 AM
#32
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Big Russ, in just about every little town in America you will find a place who proclaim, 'world famous burgers'. Hyperbole is not confined by any means.
A simple example of hyperbole by flanneruk, hyping (from the word hyperbole) a UK airline is hardly noteworthy. Of course it isn't the 'world's largest international airline' just as every second burger joint in the USA is not 'world famous'.
I am surprised at how many posters here use an AMEX card. While someone who travels once a year for a 2 week vacation may not think they need to concern themselves about losing 2.7% on every transaction they use it for, anyone who travels frequently or for extended periods of time or spends larger amounts of money should be.
If you spend $10k then the 2.7% extra you pay is $270. If you spend $30k a year then it is $810. At some point it becomes a signifigant number to you. Since we are talking about a student here, consider a youth going on a Gap Year of travel who could indeed spend $30k in that year. To them, $810 is signifigant.
Or consider someone who is losing only $270 per year on their annual vacation but does so every year for 10 years. That then becomes $2700. Over the last 25 years I estimate that using a 'perfect exchange' credit card and debit card has saved me somewhere in the area of $20k plus. That kind of puts any comments like, "it's worth only carrying my AmEx and dealing with the occasional fees and ATM stops because the perks are great" into perspective.
For a 2 week vacation ok, but if the amount builds up, it becomes foolish to give away money to your card issuer that you would not need to give away if you simply changed your card to one better suited to the international traveller.
A simple example of hyperbole by flanneruk, hyping (from the word hyperbole) a UK airline is hardly noteworthy. Of course it isn't the 'world's largest international airline' just as every second burger joint in the USA is not 'world famous'.
I am surprised at how many posters here use an AMEX card. While someone who travels once a year for a 2 week vacation may not think they need to concern themselves about losing 2.7% on every transaction they use it for, anyone who travels frequently or for extended periods of time or spends larger amounts of money should be.
If you spend $10k then the 2.7% extra you pay is $270. If you spend $30k a year then it is $810. At some point it becomes a signifigant number to you. Since we are talking about a student here, consider a youth going on a Gap Year of travel who could indeed spend $30k in that year. To them, $810 is signifigant.
Or consider someone who is losing only $270 per year on their annual vacation but does so every year for 10 years. That then becomes $2700. Over the last 25 years I estimate that using a 'perfect exchange' credit card and debit card has saved me somewhere in the area of $20k plus. That kind of puts any comments like, "it's worth only carrying my AmEx and dealing with the occasional fees and ATM stops because the perks are great" into perspective.
For a 2 week vacation ok, but if the amount builds up, it becomes foolish to give away money to your card issuer that you would not need to give away if you simply changed your card to one better suited to the international traveller.
