Andrew

I travel with two different ATM cards (two different financial institutions), a few credit cards, and some USD cash I can change to local currency in an emergency. This has always been sufficient.

dreamon

My understanding is that if you put an Australian credit card into a positive balance and then withdraw those funds overseas you will not be charged interest because the money you are using is yours, not the credit card provider's. You will however, pay the 3% transaction fee plus an ATM fee if it is not an affiliated bank - which is exactly the same for an Australian debit card (except some Citibank accounts). Of course, things could have changed and only the bank will give the most up to date information.

I've also heard the rumour that those positive funds do not have the same protection but don't know whether that's true. The banks don't particularly like you putting your credit card account into a positive balance.

A 'checking account' is not a term used in Australia I think (at least I'm not familiar with it). A savings account can be set up so you can write cheques against it - but cheques are going the way of the dodo anyway - can't remember the last time I wrote or received a cheque, must be years.

Personally, I wouldn't have the same PIN for both of your cards, Coolmover. More secure to have separate PINs but I guess you know that already.

thursdaysd

It would, of course, have been extremely helpful if the OP had bothered to disclose that he was Australian in his first post, given that the information is not in his profile. What holds true for the American banking system, the one used by the majority of posters here, is unlikely to hold true for the Australian system. The existence/non-existence of checking accounts being just one difference. Over and out.

Christina

If it's like the US, it is bank-specific, not a rule for the country. But in competitive businesses, maybe they all do the same thing. I know in the US, my credit cards do NOT allow you to use it as a free debit card but overpaying the funds. I called one once and asked about that when someone on a travel forum had that "tip". They said no, that doesn't work, they still charge the large fee for a cash withdrawal as they aren't your bank account, and they have rules for a reasons. I think one I called said she wasn't sure if they charged interest or not but she was sure they still charged the large fee just for doing it (a cash advance). I had no intention of doing it anyway, was just curious.

And some credit card companies in the US don't allow you to have a large positive balance, they actually refund the money. They do allow some slight positive balance as that can happen with refunds, etc., but they won't allow you to deposit hundreds of dollars and use it like a debit card. And I could see that they wouldn't protect such a balance in any way, why would they? It's not a purchase, that's what they protect.

Alec

What I have done on a handful of occasions when I had to make a cash advance on my credit card, was to deposit the likely amount (amount advanced and possible charges) by internet banking as soon as the transaction has gone through to minimise the interest charged. As it happened, I was only charged a few day's interest so worked out quite economical.

Coolmover

I thank each and every response and to one I admit I should have said I am Australian with Australian bank CC--i am sorry

But I have learnt from your response,s and have opened a small account with another bank who has Visa debit card

So I have my banks Master Card debit and my banks Visa CC

Plus a backup Visa debit card with the other bank

Thanks for response and patience

Heimdall

Hi Coolmover,

A backup debit card is a good idea, especially when travelling for extended periods.

I use online banking, and have debit and credit cards from the same bank. If I needed to use my credit card to withdraw cash in an emergency I could quickly transfer money to cover the cash advance on my credit card. That would limit my exposure to those high daily interest rates.

Those of us who have been following your many threads know you are from Australia, so that didn't take me by surprise. The term "checking account" is American for current account, the term we use in the UK.