Using credit cards to best advantage

[Stargazer]

I will be taking my first trip overseas and am unsure how best to deal with money issues.

I have been reading a number of threads in relation to managing money overseas. There seems to be a general view that the Latitude 28 degrees MasterCard is a good choice as there are no FX fees attached to purchases. But does the bank charge a conversion fee when a statement is issued?

secondly it’s been pointed out that it’s best to use a debit card ( eg. Citi debit card - no FX fees) to withdraw foreign currency cash at ATMs. And this card should be loaded with A$ before travel.

my apologies for my stupid question but why not just use the Latitude 28 degrees card in ATMs? Why is a debit card recommended for withdrawing cash. I am just trying to understand the logic of using two types of cards.

any advice on how best to manage money to minimise FX fees and bank conversion charges would be gratefully accepted.

 

[DeKa]

my apologies for my stupid question but why not just use the Latitude 28 degrees card in ATMs? Why is a debit card recommended for withdrawing cash

A credit card will charge you a cash advance fee and begin charging interest immediately if you withdraw cash. This is not specific to 28 Degrees - pretty much all credit cards will do this.

The Citi card is a debit card so won’t be charged a cash advance fee as it’s your own money you’re taking out.

 

[AIRwin]

I will be taking my first trip overseas and am unsure how best to deal with money issues.

I thought your first overseas trip was back in 2011/2012?

Newbie needs your help!!! [Basic travel Advice]

Hi all, I need your advice. I will be taking my first trip overseas shortly and need to get up to speed quickly in terms of the following: Do you rely on credit cards or other forms of currency (eg travellers cheques, cash in local denominations etc) Tips on making check in easy Tips on making...

www.australianfrequentflyer.com.au

 

[Stargazer]

Hi AIRwin, never took the trip Overseas. Life got in the way. Since then only two domestic trips taken. My frequent flyer points have been growing and now is the time to take my first overseas trip.

 

[AIRwin]

Hi AIRwin, never took the trip Overseas. Life got in the way. Since then only two domestic trips taken. My frequent flyer points have been growing and now is the time to take my first overseas trip.

Welcome back!

 

[SYD]

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