It appears that most credit cards charge an additional 3% when money is withdrwan from international ATM's and for other charges. Do any of you have a credit card with just a 1% charge and hopfully low or no annual fee?
Dale
Posted by
dallas, tx, usa
1358 posts
This subject has been covered many times in the past. You may want to read the Graffiti Wall section http://www.ricksteves.com/graffiti/graffiti81.html.
You can also learn by reading the Graffiti Wall archives.
Some recommend calling your local banks to find how much they charge for ATM withdrawals in a foreign country.
When I got mine, Citibank was best. You can shop for one on the web by searching for "ATM credit cards".
Posted by
Bloomington, IL, USA
9371 posts
Dale, I would NEVER use a credit card in an ATM, either here or abroad. This kind of a transaction is a cash advance, which incurs finance charge from the moment you get the money. Instead, use an ATM card connected to a checking account. Open a separate account to put your travel funds in, if you like, to keep it separate from your regular checking account. And shop around for your ATM card, too. Mine is from a small local credit union, and never charges any additional fees when I withdraw money abroad.
As for credit cards for purchases, Capital One is the best -- no additional fee, no annual fee.
Posted by
Elk Grove, CA, USA
6898 posts
Dale, I agree with Nancy. I hope that you are referring to an ATM card and not a credit card. If you are actually talking about a "credit card", this shouldn't be done. With an ATM card, you are withdrawing your cash and incurring a small charge along with it. With a credit card, you are borrowing the bank's money and in some cases, the interest begins right away. The ATM card works the best in an ATM. Using your credit card for purchases is just great.
Posted by
Wichita
831 posts