Best Credit/Debit card

THESTYX

I am planning a trip to the USA later this year, and I was wondering which is the best way to exchange sterling for dollers. Would getting a card and loading it with US dollers here in the Uk be better than exchanging it in the US. I don't want to use travellers cheques as when I was in Italy last year it was a ripoff. I'm looking for the cheapest way of exchanging cash or using a card. Any advice would be helpfull.

lisyloo

You cannot pre-load credit cards.
It's agaisnt the Terms and conditions and your card could be stopped which you wouldn't want.

Taking cash out of ATMs is generally pretty cheap as several comapnies do 0% commission. You still have to check for interest and ATM fees.
Personally I use Hallifax Clarity which is 0% commission and 12.9% interest. This is pretty low if you pay off your credit card as soon as you get back from a holiday. My last cost was £4 for taking out £1200 for a 2 week holiday.

I could checkout Martins articles on this forum on this subject for the latest inforamtion.

Svenena

There's an article with advice on the main site: http://www.moneysavingexpert.com/travel/cheap-travel-money

chattychappy

Agree TCs are a rip off. The biggest rip-off is that despite the promise of rapid replacement for lost/stolen this often just doesn't happen.

There are some pre-pay cards that you can (must) pre-load. I know nothing about them.

Else the advice is use credit cards rather than cash most of the time. The ranking is something like:

1) 0% loaded cards such as: Clarity, Zero, Post Office
2) NW Gold Visa 1%
3) Most of the rest: around 3%
4) Tesco and other cards issued by the same group (HBOS? someone correct me?) - where they load their own exchange rate which is loaded anyway - rip off at around 5.5%

For cash, Zero + Clarity don't charge a fee for ATM withdrawals, but do charge interest from date of transaction. Minimal if you pay off within a few days. A bit more complicated if you mix purchases and and cash on the same card. You are not supposed to pre-load and may get the card/amount blocked if you do.

Whatever you do, don't rely on any card continuing to work. Replacements for lost cards are harder to get whilst overseas and cards often get blocked by so-called fraud monitoring systems. Supposedly some cards say you should phone them in advance of a trip - but this isn't guaranteed to prevent a rejection.

I just got my Zero card blocked. I've had it for at least a couple of years. Never call them (I travel alot). In the last 2 months I used it in Switzerland and Germany for the first time ever. (No block.) Then Vietnam (No block). Then a small transaction in a shop in Taiwan. Been to this shop many times over recent months - never been a problem before. But this time it triggers a panic at Santander Towers.

So expect the unexpected! Remember even a "loaded" card will still be cheaper than messing around with western union transfers from friends or taxis to embassies (who will do very little anyway)!

I always have 5 or 6 cards with me, but then I'm often away for months on end. But even for a short trip, I'd take 2 or 3 at least. (If you're travelling with someone, then probably 3 or 4 between you is enough.)

lisyloo

For cash, Zero + Clarity don't charge a fee for ATM withdrawals

Some ATMs in the US charge for the facility.
This is not a charge made by the credit card company, but by the providers of the ATMs.
Tends to be a couple of dollars.
Still a cheap way to do things, but don't be suprised if there is a small fee.
Seems to be particualr to the US in my experience.