Using My Credit Card For Money Exchange

[questions]

I am going to Europe for 2 weeks and wonder about charges for using my credit card and my atm/debit card. What are the cheapest ways to get cash (euros) and what fees are incurred using my cards?

[sweeps]

Capital One has historically been the best choice. This is a rare case where Cap One lives up to its name of being no hassle.

Currency Conversion Costs

[thekid]

The currency conversion rates used by CCs (at least mine) are a rip off. You would be much better off buying some of the currency (you can do some rate shopping) prior to leaving and bring travellers checks for the rest. I've seldomly seen worse conversion rates than those used by CCs.

[sweeps]

Actually you get the best conversion rates when using a credit card. It's the extra fees tacked on by CC companies that get you. Again, check out Cap One. Not only does Cap One not charge a fee, but they absorb the standard 1% fee from Visa/MC.

Discover is an option too *IF* it is accepted where you're going.

[thekid]

Must be another Canadian/US difference. Everytime I used a CC abroad, the exchange rate showing in my statement was worse than the one I got form cash conversions/travellers checks conversions (unless they add the fees into the stated exchange rate). Every card is different however, and the one you refer to would be a good bet without any fees and a good exchange rate.

[lmsmith67]

The credit card rates can be higher than the "actual" exchange rates, but you will also pay high fees for cashing travelers checks and exchanging currency in banks abroad. For safety, I'd have a bit of cash, but use my debit/credit cards. You can even get cash from foreign ATM's. The fees are not going to be as much as the ones you pay here at ATM's because most ATM's in other countries do not "surcharge". So unless you plan on spending an extraordinary amount of money on your credit/debit cards, it's the cheapest and safest way to travel.