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Travelling with a Credit Card?

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  • 10-05-2006 10:13am
    #1
    Defcon 5
    Closed Accounts Posts: 52 ✭✭


    Hi guys I would appreciate some help with this query I'm the process of attaining a Bank of Scotland Visa card the rates :

    Summary Box and Interest Rate Table
    Introductory rate Monthly Rate (%) APR (%)

    Balance transfers 0% for 6 months (from account opening) 0.759% (variable) 9.5%

    Purchases 0% for 6 months (from account opening) 0.759% (variable) 9.5%

    Cash N/A 0.759% (variable) 11.2%

    Im travelling around south east asia I was primarily going to use my card for cash withdrawals and I thought the % I would be charged for doing this was 11.2% but my girlfriend says that there are additional charges for using an atm , I'm getting a visa can someone please clarify what charges I can expect when using an atm or what is the best way of withdrawing money when abroad using a credit card, thanks guys :rolleyes:


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    #2
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Using an credit card like that doesn't make a lot of sense to be honest. I certainly wouldn't do it.

    You'll be charged what is called a "Cash advance fee". According to BOSI's website "We make a handling charge of 1.5% (at least €1.90) for Cash Advances". This is a seperate matter from the higher rate of interest charged on any amounts you take out from an ATM.


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    #3
    MrPudding
    Registered Users Posts: 9,788 ✭✭✭MrPudding


    I remember when I had a BoI card. They made a big deal out of the fact that if you put your card into credit there were no charges for cash advances. So you loaded you holiday money onto it and you could withdraw it through ATMs at no cost.

    Not sure if they, or any other issuers still do this.

    MrP


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    #4
    esskay
    Closed Accounts Posts: 220 ✭✭esskay


    I am just after passing through asia and am in Oz at the mo. I use a BoI card and have paid loads in cash advance fees. Tis a balls!!!


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    #5
    Defcon 5
    Closed Accounts Posts: 52 ✭✭Defcon 5


    If loading your credit card isnt the thing to do how would I manage having access to cash safely abroad while incurring the lowest charges??

    And there I was thinking a credit card would solve all my foreign currency problems? :rolleyes:


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    #6
    keithclancy
    Registered Users Posts: 9,208 ✭✭✭keithclancy


    Simple - Take money out in larger amounts ...
    Taking out cash in small amounts is a bad idea as you pay 2.50 in most countries for Visa transactions.

    Although if you ask BOI for Cirrus on your ATM card you can use it at more than 1 million atm points worldwide, theres a 2 euro charge and of course no interest.

    The cool thing about a Visa card though is if you get robbed or lose your wallet or something they'll have a temporary replacment card out to you next day :)

    really handy and saved my trip to the czech republic... advised them of the situation at 5pm and they had a card out to me in the hotel at 1pm the following day :)


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