Extra cash for New York - Credit Card/Loan?

hud316

Hi

I am going to New York next month and am looking for a little advice re: getting some extra spending money.

I am expecting to spend quite a bit and was thinking about having the security of an extra £1,000 available which may be needed/may not depends on the Mrs when we hit Macys.

Would I be better getting a loan or a credit card?

I've been told a credit card with a 0% on purchases would be better.

Ideally I'd like to withdraw the cash from a ATM before going but most 0% cards charge for this and they also charge a % for using abroad.

Can anyone help or advise as to what they think would be the best option for me to take.

P.S I have a good credit rating

thanks in advance for any help offered.

kieran1979

The best option is to only spend what you actually have!

anna42hmr

hud316 wrote: »

Hi

Ideally I'd like to withdraw the cash from a ATM before going but most 0% cards charge for this and they also charge a % for using abroad.

.

all credit cards charge for cash withdrawl because they charge interest from the day that it is withdrawn (others then may add foreign usage charges or cash withdraw fee etc)

your best bet imo is to get either the post office credit card or santander zero credit card and use that for purchases if you need to use it only. (they dont charge a usage fee for using abroad if its for purchases) and not taking out of an atm

i wouldnt recommend a loan as if you dont actually need the money then you are borrowing and paying interest uneccesarily.

hud316

cheers anna

thats the kind of advice I was looking for :T

Kieran1979 on the other hand, WAY up there on his high horse can keep his

hud316

hud316 wrote: »

Hi

I am going to New York next month and am looking for a little advice re: getting some extra spending money.

I am expecting to spend quite a bit and was thinking about having the security of an extra £1,000 available which may be needed/may not depends on the Mrs when we hit Macys.

Would I be better getting a loan or a credit card?

I've been told a credit card with a 0% on purchases would be better.

Ideally I'd like to withdraw the cash from a ATM before going but most 0% cards charge for this and they also charge a % for using abroad.

Can anyone help or advise as to what they think would be the best option for me to take.

P.S I have a good credit rating

thanks in advance for any help offered.

Can I also add I will be more than likely to pay off anything I use over the next 6 months

speedbird1973

If you are looking for cash only then consider an MBNA card. You can transfer cash into your account from that card and have it interest free. If you use the card itself you will pay interest. If you have time though it's an option

hud316

speedbird1973 wrote: »

If you are looking for cash only then consider an MBNA card. You can transfer cash into your account from that card and have it interest free. If you use the card itself you will pay interest. If you have time though it's an option

Thanks Speedbird, I'm not away until next month so would have time to apply

this looks like the kind of thing I am after...theres a 4% handling fee for money transfers so say for example I was to transfer £1,000 to my currount account that would cost me £40?

Its 15.9% APR

0% on money transfers</B> from your credit card to your current account for 13 months (4% handling fee). Remember for this great rate you need to transfer money within the first 90 days of opening your account. (this I will do)

Assuming I can pay this back over 6 months at the latest what would I be looking to pay back to clear this if I transferred £1000

Sorry if I'm being a dumbass over this but I just don't get all the APR stuff etc and want to make sure I get the best available option.

BigDave81

The credit card option would be much better if 0% on purchases but why take the cash out of cash point, just use the card for direct purchases and have the cash to pay for the other items when cards not applicable which you would have had as spending money anyway.

BigDave81

Also you may not be quite right with the getting a card within a month timeframe as there are a lot of posts where people aren't getting any cards or even confirmations for weeks and weeks on end! Best make sure when applying, or before applying ideally.

dazza.mk

hud316 wrote: »

I am expecting to spend quite a bit and was thinking about having the security of an extra £1,000 available which may be needed/may not depends on the Mrs when we hit Macys.

Definitely take a credit card for purchases made abroad.

With a credit card with Santander Zero/Post Office you theoretically only pay for what you spend at the best exchange rate going.

If you take an MBNA and take cash you will

1. pay the 4% Balance Transfer Fee on the £1000
2. Lose out on a poorer Fx rate to change the £1000 to $, and the reverse when returning to the Uk (assuming it remained as an emergency).


Of course you would then need to bear in mind the lead times of getting the card and PIN through (with an impending postal strike)

anna42hmr

get in quick as santander often have delays with getting cards issued, however my post office one only took a week. dont forget that postal strikes are threatened so make sure you leave it pleanty of time, as dont forget you will need to receive both the card and pin to use and they are always sent seperate and dont want one or other to arrive after leaving for hols