Paying for hotels, with credit card or debit card?
Apr 20th, 2009, 05:11 PM
#1
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Paying for hotels, with credit card or debit card?
Is it cheaper to pay for hotels using a bank debit card than a bank credit card, in terms of the add on bank usage fees? I don't want to carry that much in Euros but don't want to get hit with bank fees if I can figure out a way not to. Thanks!
Apr 20th, 2009, 05:56 PM
#2
either way you will pay small fees to your own bank or cc company. Though not enough to sweat over IMO. Generally speaking, using an ATM to get cash is ever so slightly cheaper than using a cc -- but for some banks it could be the other way around. Don't over analyze and just enjoy your trip.
Apr 20th, 2009, 06:06 PM
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I always use ATMs just to get cash for daily expenses, and use cc's for hotel and restaurant bills. If you pay the cc off at the end of the month and have one that doesn't charge exorbitant fees for overseas charges, you should be ok. But you should KNOW what charges your cc and debit cards charge. Ask your bank and then figure out what is best for you. It's astonishing how many people have no idea what they are being charged for either type of card; witness the recent Buying Euros thread on here.
Apr 20th, 2009, 06:58 PM
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Credit card rather than debit. If there's a problem you can always dispute a charge with a credit card... it might be a lot trickier with a debit card.
Besides, a hotel usually wants an imprint of your credit card at check in... they won't want a debit card as there might not be enough in the account to cover the charges...
Rob
Besides, a hotel usually wants an imprint of your credit card at check in... they won't want a debit card as there might not be enough in the account to cover the charges...
Rob
Apr 21st, 2009, 04:30 AM
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>Generally speaking, using an ATM to get cash is ever so slightly cheaper than using a cc ...<
It is much cheaper. Getting cash on a CC is a "cash advance". Interest accrues from the moment you get the money. Some banks have a minimum interest amount.
It is much cheaper. Getting cash on a CC is a "cash advance". Interest accrues from the moment you get the money. Some banks have a minimum interest amount.
Apr 21st, 2009, 06:58 AM
#7
ira: "<i>Getting cash on a CC is a "cash advance"</i>
I did not mean getting cash w/ a cc. Of course, that is a bad idea.
I meant getting cash w/ an ATM card to pay the hotel -- vs -- paying the hotel by cc.
I did not mean getting cash w/ a cc. Of course, that is a bad idea.
I meant getting cash w/ an ATM card to pay the hotel -- vs -- paying the hotel by cc.
Apr 21st, 2009, 08:42 AM
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YOu need to ask your bank if there is a difference in add-on fees for foreign charges on their CC versus their debit card. My guess is they are the same, all the ones I'm familiar with have the same markup on debit card "purchases" versus credit cards they issue. That's not necessarily the same on cash withdrawals at ATMs using a debit card, which can be less markup (but not always).
Apr 21st, 2009, 02:52 PM
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Thank you ALL!! Thanks to seaurchin, I wouldn't have thought I could get a room for less with cash, worth looking into. And thank you parisamsterdam, excellent point about disputing it if I have to. I learned today that my credit union has zero charges for using the debit card, while the credit card is anywhere from 3 - 8%. Thanks everyone!
Apr 21st, 2009, 08:37 PM
#11
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You are welcome, moraben. It can't hurt to ask and I have had the hotel desk tell me about the discounts without my asking. In fact it may be common because, for example, in the last few trips I have taken, a least one or two hotels during my vacation have offered this.
Have fun!
Have fun!
Apr 21st, 2009, 09:00 PM
#12
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You wouldn't want to use a debit card even in this country, because the hotel will 'authorize' an amount above the cost of your entire stay (to cover incidentals, and to guarantee they will be paid). It can take days for the hold to drop from the hotel, and will limit access to your funds.
Apr 21st, 2009, 09:24 PM
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I always charge hotels and major meals on my credit card so that I will earn miles; however, I might be better off paying the $5.00 my bank charges for a foreign transaction and getting $500 per day (when needed) instead of paying the 3% fee the credit card levies on overseas transactions. If there's a discount for cash, it would be even more advantageous.
The reason I keep using the cc is that the miles paid for tickets for two to Spain in 2004 and Ireland in 2007 and will pay for two more this year.
The reason I keep using the cc is that the miles paid for tickets for two to Spain in 2004 and Ireland in 2007 and will pay for two more this year.
Apr 22nd, 2009, 03:55 AM
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moraben--get a different credit card. I never heard of one adding 8%! That is outrageous. There are some that add nothing. Our credit card (USAA) passes on the 1% Visa/MC fee, but nothing else. We get a 1% rebate from the card, so it's a wash.
Apr 27th, 2009, 03:13 AM
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www.usaa.com I thinky you have to meet eligibility requirements to become a member--from the website:
Who is Eligible?
Active-duty officers and enlisted personnel.
Children whose eligible parents have or had a USAA auto or property insurance product.
National Guard and Selected Reserve officers and enlisted personnel.
Officer candidates in commissioning programs (Academy, ROTC, OCS/OTS).
Former military personnel:
Retired officers and enlisted personnel.
Former officers and enlisted personnel who separated from the military on or after January 1, 1996.
Also: Capital One credit card users have reported that Capital One doesn't even pass on the 1% Visa/MC fee.
Who is Eligible?
Active-duty officers and enlisted personnel.
Children whose eligible parents have or had a USAA auto or property insurance product.
National Guard and Selected Reserve officers and enlisted personnel.
Officer candidates in commissioning programs (Academy, ROTC, OCS/OTS).
Former military personnel:
Retired officers and enlisted personnel.
Former officers and enlisted personnel who separated from the military on or after January 1, 1996.
Also: Capital One credit card users have reported that Capital One doesn't even pass on the 1% Visa/MC fee.
Mar 26th, 2010, 01:23 PM
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USAA in another thread (you can search for it) says they have expanded their financial services & offer it to pretty much everyone now, if that's something that appeals.
Also, Charles Schwab offers a debit & credit card that doesn't charge foreign transaction fees and reimburses for any ATM fees. The credit card (if obtained before 3/31/2010) will also give 2% back on all purchases. They will stop offering the credit card after that date.
Also, Charles Schwab offers a debit & credit card that doesn't charge foreign transaction fees and reimburses for any ATM fees. The credit card (if obtained before 3/31/2010) will also give 2% back on all purchases. They will stop offering the credit card after that date.
