Plan ahead to get your credit card PIN

In 18 years of travel all over Europe I have never been asked for a pin when using a credit card. Of course, you need one when using a debit card/ATM but that is standard in the US also.

I've needed a pin each time I've used it in Europe, as I have a chip card. No chip, things are likely fine.

Most people are not aware that many credit cards do have PINs, and if only for cash advances, it is still worth knowing.

While fees vary, a cash advance has the bad rep for interest accruing immediately as opposed to at the end of a thirty day cycle, I know on mine the actual transaction comes without fees (as with a charge) and with online account management, you need not wait thirty days to pay off the advance.

If managed well, use of a credit card cash advance at an ATM can be useful when large withdrawals are needed and nearly anytime as a back-up or an emergency supply of cash...if you know your PIN.

I have been asked several times for my CC's pin number when traveling through Holland, and Belgium. It's a new trend that has been spreading through Europe. One notable example is Dutch Rail, they will not sell a train ticket via a credit card without a PIN number, regardless of wether it's a chip or magnetic strip card; they have large sings over the counters explaining this in English. Also, for the record a BofA CC pin number is valid for purchases...I have been there done that;)

I called my credit card companies to get the PINs for my 2 cards before my trip. I wanted the numbers in case my ATM card didn't work and I needed cash. But I would advise people to NEVER use a credit card at an ATM if you can help it, because the interest is insane and it's a shameless way for the credit card companies to line their pockets.

"In the US, purchase transactions using PINs can only go through as a debit transaction...which is why your CC pin was refused.

No, read my post again, Michael -- it's a DEBIT card, not a credit card, so the PIN should work. All of my other debit card PINs work.

Ahhh, my bad....your pin should indeed work.

In regards to the topic raised by Tyler, It may very well be that since it is a "foreign" card, the transaction defaults to a credit transaction as opposed to Debit. I know when I use my US Debit/ATM card in Europe at a point of sale (use it like a credit card), my only option is Credit, not Debit.

To follow Sarahs post, I will reiterate that while the interest rate is high, time is needed to accrue that interest. When I do resort to a CC Cash Advance, it is nearly always on a card with no balance, then I go online that day, or the next, and transfer money to pay off that advance from my bank account. In total, the fees and interest are the same or less than an ATM transaction.

However, due to the way a CC company splits up your payment, if you already have a balance on your card, you can not selectively pay off only the advance without also paying off any other balance.

Following the last two posts (I spend atm cash, seldom charge, and never have a card balance), but I was reading the junk on the cc statment the other day and it said that, if I had a cash balance, it would accrue interest at 9.9 pct/yr.

That works out to less than one percent per month. If I charged five grand and payed it off at the end of the month, it would cost me fifty bucks. FTFs on charging that five grand would be maybe a hundred bucks.

What the heck am I missing? It looks like there's middle ground between charging and using cash.

I pay off my credit card each month and have never paid any fees or interest. I thought I would look up my Capital One card's fees for cash advances and was surprised that nothing was listed, just a note that there were fees for cash advances. I have requested details. For a European withdrawal my old credit card would charge me 3% for the withdrawal, 3% for currency conversion with interest starting immediately at over 20%. There was probably a minimum finance charge to boot. Check fees carefully before considering a cash advance.

I just received a new (renewal) VISA debit card from Citibank in Spain, where I have a Euro account. I called the bank to activate it (you can call Spain for two cents a minute using Google Voice!), after which I tried using it at a lunch place here in San Francisco. I asked the cashier to treat it as a PIN transaction, but when I put in my PIN, the charge was declined. I know the PIN works because I tried it first at a Citibank ATM.

Next day, I tried the card again at a restaurant. Charge accepted -- but I didn't use the PIN this time.

Maybe I should try using the PIN again -- or maybe, since it's a "foreign" card, the PIN doesn't work overseas?

By the way, for those curious, this new card does not appear to use "chip and PIN" technology -- it just has a magnetic strip. So, I guess Spain has not converted yet?

In the US, purchase transactions using PINs can only go through as a debit transaction...which is why your CC pin was refused. The CC companies do this because they make more money on CC transactions compared to debit transactions. By law in Europe the fees charged for CC & debit are more or less the same.