Love Italy. Going for 2 weeks plus a cruise. Have a credit card that does not charge exchange fee. Am I better off buying Euros or using the credit card?
Posted by
Tresana, Highlands Ranch, CO, USA
23653 posts
My personal opinion is that using cash is the best way to go. Use a debit card at an ATMs for best exchange rate unless your debit charges high fees. A VISA/Mastercard is well accepted but we just find it easier to use cash. Generally cash at a hotel will get you a 5% discount.
Posted by
Vernon, Canada
32393 posts
Jack, As Frank mentioned, you'll need cash in some cases, as some merchants in Italy don't accept credit cards. Just curious, is your card an American Express product? Cash is easily obtained from ATM's in Italy, and that method usually provides the most favourable exchange rate. I usually pack along €100~ for "travel expenses" as I usually have money left over from previous trips. I assume the "exchange fee" you're referring to is the currency conversion fee? You'll still be paying currency exchange between US Dollars and Euro's. Happy travels!
Posted by
Seattle, WA, USA
7737 posts
Don't forget that there are other sections of this website with helpful information. Check out the "Money Matters" section at http://www.ricksteves.com/plan/tips/tips_menu.htm
Posted by
Elk Grove, CA, USA
6898 posts
Just remember that when you use a credit card to get cash, you are borrowing from your card issuer. Using a CC for hotels or shopping purchases is just fine. However, when you use an ATM card to get cash, you are withdrawing cash from your own account.
Posted by
Seattle, WA, USA
7737 posts
Agreed. It never makes sense to do a cash advance on a credit card, unless you're in a dire emergency and have no other options.
Posted by
Cesena, Italy
791 posts
As others mentioned carry some cash with you as some smaller places don't accept cards.
Posted by
Renton, WA, USA
240 posts
carry cash!! Remember, you can sometimes have a better chance of getting a "good deal" if you use cash!
Posted by
Boulder, CO, USA
719 posts
Hi Jack,
Most people will recommend cash as much as possible, saving CC for big purchases (hotels, feasts, large souvenirs,etc.). I tend to use my CC for everything over here, to get the rewards, and since you have no foreign exchange fees, this may make sense for you. However, in Italy, I've found that vendors don't really like CC, and you're likely to get a better deal if you offer cash (which I retrieve from ATMs from my checking account). Rarely will your reward earned outweigh a discount offered by a hotelier, etc.