Travellers Cheque Cards - What's the catch

davemaxted

Hi
Does anyone have experience f the recently launched Amex Travellers Cheque cards? Is there a catch with the Thomas Cook Promotion? If I load the card with 700 Euros, will they really give me 65 more? (On the Amex site a free european / USA flight is on offer)
Skeptical of Coventry

iceliquid

This debate was raised a few months ago as well...

I have read reviews and reports on this newish type card.......and summarised the disadvantages from another posting.....

I would not recommend the Amex cheque card to anyone. The exchange rate is 4% higher than the standard one which is crazy as a basic credit card would charge no more than 2.5% handling fee.

To top it all off Amex still charges an ATM fee when you withdraw So in this case a normal debit card (Delta or Maestro) will be better (again, the Nationwide debit card is free to use abroad).

American Express card is not very popular on the continent as Amex charges a high handling fee for merchants that accept it. It will be hard to find a small to medium size shop that accepts the card....

the list goes on!

alanrowell

Also TC's are supposed to be a backup IF THINGS GO WRONG, would you risk losing ALL your money into a machine that might decide to eat the card

davemaxted

iceliquid wrote:

American Express card is not very popular on the continent as Amex charges a high handling fee for merchants that accept it. It will be hard to find a small to medium size shop that accepts the card....

...OR in the UK for the same reason!

Thanks for the advice
Dave

Bokken_2

davemaxted wrote:

iceliquid wrote:

American Express card is not very popular on the continent as Amex charges a high handling fee for merchants that accept it. It will be hard to find a small to medium size shop that accepts the card....

...OR in the UK for the same reason!

Have a look at the American Express discussion in the Credit card forum and read the last ten entries or so to give you a reason to use your travellers card to your advantage.
Like wise I wouldn't use it for what it is intended for when there are other credit cards offering a better service ie.Nationwide.