Travel Money

[1cat4jan]

Since you said your cards are low limit - what about "pre-paying" your own card before you go away

 

I assume things are different - this happened a long time ago

 

We knew we were going to put a large charge for furniture onto our credit card and although we had the cash to pay for it, wanted the miles or whatever perk we got on the credit card, so I overpaid my card by a substantial amount assuming then we would have extra funds on the card over the credit limit.

 

It BACKFIRED. For some reason, the CC company could not figure it was an overpayment and we had less than our credit limit to work with - not more.

 

I still wonder how the heck that could've happened even with computers not being as smart as they are today, but it was sure weird.

[4merlurker]

Hi, I always use the VTM for business and vacation travels. Last year in my Allure OTS cruise, we used in every port of call without problems.

 

 

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This is good to know. I think I will visit my local AAA. I believe I can purchase the VTM there.

[Shak]

I think it is best to know the fees involved before making this decision. Here is AAA VISA Travel Money Agreement.

 

Shak

 

http://www.aaa.com/AAA/999/sycs/TMVTMTerms.pdf

[secret1122]

Since you said your cards are low limit - what about "pre-paying" your own card before you go away ... At least with a bank visa/mc you have some sort of protection...

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I do this all the time. Many times when I pay my monthly credit card statements, I have extra money in my account and will overpay my credit card by a few hundred or few thousand dollars. My credit card will just show a credit (this is what defines a credit card compared to just a bank card) which starts me off the next month in the positive. This usually keeps my next bill a little lower which is nice.

 

I use my credit card for just about everything in order to earn more points. This nets me about an extra $2,000 every year in cash back awards. I've never been given any grief from the credit card companies about having credit balances on the card. Why WOULD they care? It's free money for them to use, interest free until you build up a positive balance.

[Beth C]

I do this all the time. Many times when I pay my monthly credit card statements, I have extra money in my account and will overpay my credit card by a few hundred or few thousand dollars. My credit card will just show a credit (this is what defines a credit card compared to just a bank card) which starts me off the next month in the positive. This usually keeps my next bill a little lower which is nice.

 

I use my credit card for just about everything in order to earn more points. This nets me about an extra $2,000 every year in cash back awards. I've never been given any grief from the credit card companies about having credit balances on the card. Why WOULD they care? It's free money for them to use, interest free until you build up a positive balance.

 

I did this to get points for my tuition back in the day when I had a low limit card... transferred the line of credit to the visa, waited a couple days to process then paid tuition with the visa. Have done this for cars too over the years to get the points...

 

Maybe different banks have different rules - you would think they'd be happy to get extra $$ from people considering they're usually fighting with people to pay them back!

[4merlurker]

Called my local AAA office:

 

AAA members pay $4.95 for the card. (sorry, I didn't think to ask about non-mbrs :o ) You must load a minimum of $100 the first time. You can purchase a companion card for $1.50. Both cards draw off the same balance. You can use as a debit card with a pin# or you can use like a credit card with a signature. Out of the country there is a 3% conversion fee per transaction. If you use an ATM there is a $3 charge.

 

I think I will purchase a card with $200 on it. Should be more than enough for some drinks and snacks while we are at Atlantis. I'm sure I can spend whatever's left over when we are back home LOL - or maybe for gas on the way home. :)

[skittl1321]

How about using a Pre-Paid Amex card? I know we used to carry travelers checks with us but you can hardly find those anymore.

 

I would stick with VISA or maybe Mastercard. Outside the US many places do not take Amex (or even Discover). The other two are much safer bets for universal use. Even inside the US, many do not take Amex or Discover.

[secret1122]

Maybe different banks have different rules - you would think they'd be happy to get extra $$ from people considering they're usually fighting with people to pay them back!

Agreed. Besides the free loan they get from you, even if it's only for a couple days, don't forget they also make a percent off every sale you charge on the card. They should be happy you're making use of the card as often as possible.