suz123nj

I use only CAPITAL ONE they have no 3% additional fee over the exchange rate.
I also used a AAA cash card that I could refill if needed so that it wasn't connected to any bank account. This method has worked three different trips.

apirone

Whats a AAA cash card? Can you give more info on that? How does it work and how do you go about getting if your a AAA member?

Thanks
Ann

NeoPatrick

suz, are you aware that that AAA prepaid card charges you 7% for all foreign purchases and ATM withdrawals? Kind of funny you'd worry about the 3% Capital One doesn't charge you, but turn around and pay 7% for an AAA prepaid card.

Pago

Capitol One Card is all we use overseas.

cruiseluv

Capital One. They charge no fees and no exchange fees

job816_2

I have never used a credit card for cash withdrawals. Do you get the same grace period to pay back the amount, as you do with purchases, before you are hit with finance and interest charges?

NeoPatrick

No. If you use a credit card to withdraw cash from an ATM, they start finance charges immediately. And there may be various additional fees as well, depending upon the card.

Incidentally, if you use a credit card to buy TC's at AAA (and I assume other places as well), it doesn't work like a purchase. It works like a cash advance and again they will start finance charges immediately.

job816_2

Neopatrick - you keep disappointing me with your responses. First I can't use Deutsche bank in Italy and now this. . . I know don't shoot the messenger

NeoPatrick

LOL

By the way, DO use Deutschebank in Italy. Although you'll still get charged the $5 fee, at least they will let you withdraw more than the 250 euros most Italian banks limit you to.

Sue4

Jody, it makes me mad for the same reason that the other posters on here are using cards (or at least are inquiring about cards) that don't have that 3% conversion fee! Yes, they have a right to make money. But lately it seems these banks are a little too damn greedy. They really like to take advantage of unsophisticated people. Maybe you're not aware of what's been going on in the credit markets, and the way it's affecting the housing market, stock market and many other facets of our economy.

It also makes me mad the way they send out solitations for credit cards, and extend credit to absolutely ANYBODY (college students, for example), and people who simply can't handle it.

Yes, I know the 3% conversion fee is just a drop in the bucket for those of us able to make our frequent trips abroad. However, what's best for them (the banks) is not necessarily what's best for me.

Ann1

To Nytraveler and NeoPatrick: Try using your Amex out of the big cities and in the country of France, etc. See how many people accept it. They say they charge the merchants too much and don't want to accept it.

NeoPatrick

Ann, why did you address that to me? I agree that AMEX is very hard to use in Europe. I pointed out how many times I see it being refused!

gracejoan3

Re AMEX....When in PAris in February, I had 4 different cards with me. I used AMEX the whole time, every place. I was surprised as it used to be that it was rarely accedpted. Not any more.

I now will be taking a Cap. One in October. It seems to be the ONLY one without the added charges.

Ann1

"but I can't tell you often I see places in Europe refusing them and asking for a Visa or MC instead"

NeoPatrick...it was just from the above statement that I mentioned your name. In Normandy and other countryside areas in Europe I can honestly tell you my Amex was turned down repeatidly. In cities, not as much, but it happens.

This does not refer to you,NeoPatrick, but I remember a few years ago, French bashers were saying that Amex wasn't accepted because it was American and they hate Americans. Not true, I ask the merchants why they don't like Amex and they all say the fees are too high. I agree with the merchants.

jody

We used our Amex card almost exclusively on our last 10 day trip thru Burgundy, only in a few smaller cafes was it refused so we used Visa.

gforaker

I don't think many people here are saying one should take only an AMEX card. Even here in the US, many stores don't accept it and one must use a Visa or MC. Most Visa and MC issuers (other than Capital One) charge 3% on foreign purchases.

All we are saying is don't leave the AMEX at home and if an establishment takes it, feel free to use it for the 2% exchange rate and other benefits.

HowardR

Another vote for the Amex card. True, it's not accepted in as many places as Visa or MC, but in four trips to Europe, mine was rarely refused.

nanabee

Giovanna makes an important point - Use mastercard or visa for purchases only.

Use your debit bank card for ATM transactions only.

When you use your MC/Visa to get money from the ATM machine you are taking out a loan from the bank at a 12-25% payback rate. This will come as a shock when you receive your monthly statement at the end of the month!

nanabee

One quick note, B of A's bank card will allow you to withdraw money in Europe at their partner banks for no fee. Their partner banks are BNP in France and Barclays in England.

CarolA

"Any Mastercard or Visa - leave AmEx, Diners Club etc at home as they are a waste of space in most places"

Just a note. Diner's Club is now a Mastercard which makes it the same as any other Mastercard. (Sadly as thier great customer service and rental car protection has gone way downhill!)