Buying foreign currency on a credit card?

barryberry

I'm just about to go on Holiday - I've got a 0% on new purchases credit card.
But if I buy foreign currency before I go,will it count as a purchase or a cash withdrawal?
If it counts as a cash withdrawal then I'll get charged a fee and a high rate of interest?

CLAPTON

cash...................
cash rules too.........

jd87

It's safest to work on the assumption it will be treated as a cash withdrawal. I did once do this and it was treated as a purchase, and I have heard other people say this too, but I think it's just luck.

cosmic_girl

I did this earlier this year before I went on holiday, unaware that it is treated as a cash withdrawal but found out on my statement that it was when I was charged £5 or £6 for the privilege. I suppose if I'd thought about it, it makes sense really x

co123456

Probably cash advance unless you have an M&S &More card which doesn't treat purchases of cash from its Bureau de Change.

http://money.marksandspencer.com/cards/credit-card/overview/

Personally, I keep a Nationwide current account open for my travels and overseas purchases.

YorkshireBoy

As far as I'm aware, only the M&S &more card treats foreign currency as a purchase*...and then ONLY if bought from M&S bureaux de change (online, telephone, or in-store).


* Currently 0% for 10 months on a new card.


EDIT: Cross posted with cheeryoleary.

AdamGrif

100% a cash withdrawal and you will probably see a cash advance fee, too.