Banking Advice for travelling to Florida

granty1892

going on holiday to Florida next month, bringing about €2,000 with me.:D

I was thinking of changing €1,000.00 into cash, putting €500 into my credit card and putting €500 into my current account.

BUT, i've been told the interest is 1.5% EVERY TIME you use your CC and the commission when you withdraw from c/a is ludacris.

Do you wise forummers think i'd be better off just changing all my money into cash and just get a money belt and then a safe??

thanks

BuffyBot

It's a rapper?

Anyway there is a lot of "it depends". Are you putting your credit card into a positive balance? If so some, but not all, cards will allow you to withdraw from them without charge. They also may not cover that cash if your card was stolen etc.

Withdrawals/card payments will attract fees otherwise yes - but it can still make sense to use them sparingly as opposed to have large amounts of notes.

granty1892

Unfortunately i'm not putting the CC into a positive balance so i was thinkin of just scrapping the whole CC idea that was until somone informed me that there are no charges when you withdraw cash from ur CC when abroad??

BuffyBot

Incorrect. You'll get charged cash advance fees/foreign exchange fees. Also there is no interest free period for cash - you pay interest on it from the day you withdraw unlike with purchasers (which qualify for your interest free credit if your card has it)

novarock

if i were you i would just use the credit card in the US - bring no more than 600 dollars a week in cash.. Just handier.

granty1892

so basaically use the cash for 'small purchases' ie lunch, a t-shirt etc

and use the CC for the larger purchases ie in a restaurant, buying in bulk etc

coylemj

granty1892 wrote: »

so basaically use the cash for 'small purchases' ie lunch, a t-shirt etc

and use the CC for the larger purchases ie in a restaurant, buying in bulk etc

Correct, use the CC everywhere that will take it, cash otherwise. And don't even attempt to book a hotel and say you're paying cash, they will treat you like a leper and probably refuse to take a booking over the phone.

Also bear in mind that they don't use Chip & Pin in the US for credit card transactions so it's no harm to have your passport with you when using it.

borderlinemeath

You can use your CC for everything in the US, even a cup of coffee. The only thing you really need cash for is tipping.

Be warned - the last time I was in Florida in 2009, my card was cloned - by somebody working in the hotel at the reception. (A really nice hotel I might add) I had only used it in the car hire and then it was swiped in reception and the next day I was contacted by my bank saying that it had been cloned (they had tried to book flights to Oman after trying a couple of small transactions, and one of these was in the hotel coffee shop).

BOI were really quick off the mark and put a stop on the card, I could contact them if I needed to use it, but luckily was with family who had plenty of cards I could use.

This is why the USA should implement chip and pin.

Jose1

I've had similar experience with car hire in Florida. I usually bring cash with me (be sure not to bring along anything larger than $20's). Last time I was there (last December) I used my credit card only once, that was when hiring a car. Hey presto, my card was subsequently illegally used twice for transactions in Australia, of all places?

Go figure!