Buying Travellers Cheques with cc

kdee_2

Have applied for a Virgin card with 0% interest on balance transfer. We are going abroad and I really want to pay by my existing MBNA for the travellers cq's but don't want to pay interest (which is charged immediately for this type of transaction).
The question is: is the best way to pay for them on MBNA and then do an immeditate balance transfer onto Virgin? Will that work or are there better methods of buying the TC's by CC rather than debit card?

Galstonian

Where are you going? Why can't you just use the card? Its not the best card for overseas transactions but is still cheaper than most ForEx, certainly travellers cheques. If you have a Nationwide or Liverpool Victoria card they are the best overseas.

kdee_2

the hotels we are going to require cash and I don't want to carry large sum of cash with me. So I'd rather take TC's and transfer them.

CC are not an option, I've been stung before with CC's, huge parts of Holland for eg won't accept them.

realaledrinker

You will pay a 2% charge for the BT on MBNA (plus interest from day one unless you are in a 0% BT period with them).

May be a bit late, but you can put foreign currency & TCs on a M&S &More card with no fees if you buy them from their in-store financial services desk (& through the post I think too).

Galstonian

A few things. You cannot transfer from MBNA to Virgin (MBNA issue Virgin too). You can transfer to a current account as a BT. Why not do this and just pull the cash from an ATM in Holland (assuming it is Holland you are going to)?

kdee_2

I'm not going to Holland, that was just an example. I can do a balance transfer from MNBA to Virgin, all that happens is they adjust my credit limit accordingly so that have not been given twice the credit amount.
I know what I want to do and am just looking for the best way of doing it. Thx Realaledrinker, will look into &more though as you say, time amy be tight

Galstonian

kdee wrote:

I can do a balance transfer from MNBA to Virgin, all that happens is they adjust my credit limit accordingly so that have not been given twice the credit amount.

From the Virgin credit card Terms and Conditions:

As the Virgin Credit Card is issued by MBNA you can't transfer a balance from another credit card issued by them

You can't transfer a balance from MBNA to Virgin. You could ask them to transfer a credit limit but that's not the same thing at all.