Best Credit Card to Use in Europe

[jonsmom]

I am travelling to Europe next year.  Most of the private tours I am doing do not want to accept credit cards. Euro only.  My question is what is the best way to get cash?  Is it to use my debit card that I use here on a daily basis?  Capital One does not charge a transaction fee.  Perhaps do a cash advance.  I have never needed to use cash advance, so not sure how that works.

 

Any and all advise is more than welcome.

[Hlitner]

The best way to get cash is by using bank ATMs in your ports.  The machines are very common in Europe.  You should notify your issuing bank, in advance, of your trip and itinerary to avoid any security issues.  European ATMs normally expect a 4 digit PIN and you need to know that PIN in numbers as there are no letters on their machines.  You do not want to use 
"Cash Advances" on a credit card since you will be charged interest (from the day of withdrawal) and possibly additional fees.  Use your debit/ATM card.    The problem you might have is there is a daily withdrawal limit which can sometimes be limited by the European system.  We have a $500 daily withdrawal limit on our ATM cards but there have been times when we have been capped at $300 by the Europeans system.   So if you must have lots of Euros to pay for tours you should plan in advance and have some extra Euros.

 

Many others here on CC like to get some Euros before leaving home, even though you do not get a great exchange rate in the USA.  Some banks such as Wells Fargo do sell Euros and there are also some online services.  But you will lose some money on the rate of exchange and other fees (if any).

 

As to using credit cards in Europe, both MC and Visa are very widely accepted.  But you should notify your credit card company in advance of your trip.  The best credit cards are ones that have no foreign exchange fees....such as Capitalone, Schwab, or Andrews FCU.   AMEX is also common but not accepted in as many places as MC and Visa.  Many merchants do not like AMEX because that company charges them a higher percentage.

 

Hank

 

[Jim_Iain]

It is best to use a debit card that offers to rebate ALL ATM charges.   I use First Republic but also see Schwab often recommended.    There is a difference between NO ATM FEES (Charged or not by your bank) and a Transaction Fee that the local banks charge often as high as $10-15.

 

Also when using the ATM's it will ask you if you want the transaction in USD or Euros.   Always choose the local currency as they do not have as good of a currency exchange rate as your credit card will automatically give you.  

[wrk2cruise]

I have a Capital One card I use for travel due to no foreign transaction fees which are typically 3%.  I also have a bank account with Capital One which I only keep enough money for what I might need in cash on a trip.  This account comes with ATM cards which also don't charge foreign transaction fees like my local credit union does.  I feel safer this way as I don't carry anything linked to my main bank accounts so if my ATM card is jeopardized I'm only out what's in that small bank account.

[jonsmom]

• Thank you all for your replies.  Perhaps I will open a Capital One account and put the amount I need to use for vacation in it and use that to pull $$ from - this way I won't be compromising my Debit card that is linked to my local bank where my checking and savings accounts are.

[Loracpin2]

We always use our Bank ATM card in Europe to withdraw either Euros or BPS and have never had to use a Pin number. As a previous poster said, just make sure prior to leaving, you let your bank know what Countries you will be visiting.

[Hlitner]

1 hour ago, Loracpin2 said:

We always use our Bank ATM card in Europe to withdraw either Euros or BPS and have never had to use a Pin number. As a previous poster said, just make sure prior to leaving, you let your bank know what Countries you will be visiting.

You get cash out of an ATM without a PIN?  Have never seen that anywhere in the world.

 

Hank

[mom says]

2 hours ago, Loracpin2 said:

We always use our Bank ATM card in Europe to withdraw either Euros or BPS and have never had to use a Pin number. As a previous poster said, just make sure prior to leaving, you let your bank know what Countries you will be visiting.

 

How do you do that? And where? I've lost count of the number of countries I've visited, and I don't ever recall withdrawing cash from an ATM without using my PIN.

[WonderMan3]

3 hours ago, wrk2cruise said:

I have a Capital One card I use for travel due to no foreign transaction fees which are typically 3%.  I also have a bank account with Capital One which I only keep enough money for what I might need in cash on a trip.  This account comes with ATM cards which also don't charge foreign transaction fees like my local credit union does.  I feel safer this way as I don't carry anything linked to my main bank accounts so if my ATM card is jeopardized I'm only out what's in that small bank account.

 

Great idea!

[Loracpin2]

56 minutes ago, Hlitner said:

You get cash out of an ATM without a PIN?  Have never seen that anywhere in the world.

 

Hank

Senior Moment!!!! Don't use a PIN when I use my bank card to purchase. ALWAYS use to get cash!!!!!  

[PROCRUISE]

Just another vote for Capital One credit card. Have used mine all over the world and saved quite a bit of money on not having to pay foreign transaction fees. Enjoy your trip!

[Expat Cruise]

I like to use Capital One cards outside the United States. I have several, and a few of them I have selected low limits, so if a issue the lost to the Credit Card Provider would be very small.  I do carry other cards with no limits like my Amex Card  if needed.

[smtcan]

When we travel abroad we always take a small amount of local currency in case we can’t find a bank machine right away.  An experience with an out of order machine at an airport taught us that.  We just take enough for a cab and a snack, then rely on our debit cards for the rest of the trip. Since we travel in Europe most years, we draw out €100 and/or £100 before returning home which gives us our starting cash for the next trip.  We  also have cards on both our accounts in case we hit a problem with one.

[Toofarfromthesea]

18 hours ago, jonsmom said:

• Thank you all for your replies.  Perhaps I will open a Capital One account and put the amount I need to use for vacation in it and use that to pull $$ from - this way I won't be compromising my Debit card that is linked to my local bank where my checking and savings accounts are.

This is similar to what we do.  We have a debit card used just for traveling that is not connected to any of our other accounts, so if it gets compromised all that is at risk is the balance on that card, not any of our other accounts.  We can still transfer money into that travel debit card from other accounts, but that debit card cannot initiate any transactions with our other accounts.  We use that debit card just to get cash, and use our Chase Reserve credit card for actual purchases.

[Hlitner]

16 hours ago, Loracpin2 said:

Senior Moment!!!! Don't use a PIN when I use my bank card to purchase. ALWAYS use to get cash!!!!!  

 I also have plenty of senior moments but never remember those moments (which is another senior issue).

 

Hank

[Longboysfan]

I recently went to Europe.  Notified the bank my dates going and coming. Got money from ATM. 

But more than enough that I did not have to go back every day.

 

Reminder there are scammers there near the ATM's sometimes - so guard your number and the machines work the same as here.

 

Just look at the front of them and what banks they cover.

[bigbenboys]

I use my same debit card as I use at home. What I did was unlink my debit card/checking account from my savings account and set up a line of credit as overdraft protection for my debit card/checking account. The only time I have had my debit card hacked was local or through internet charges. My problems have only been here in the US, not overseas. I do bring some cash with me and do use ATM machines overseas.

[QT911]

Take your debit card - call your bank and see if they have a "sister bank" wherever you go. For example, I bank at Bank of America and Deutsche Bank is a "sister bank" so I used Deutsche Bank ATM with less fee. I always get a few Euros before I leave (in case I need to use cash immediately for train/bus when I arrive at airport). I can pick up Euros at the main branch in my city at no cost - see if you have that option. Exchange rate works most favorable using ATM if you need cash, otherwise just stick with credit cards with no foreign transaction fee.

 

FYI - my Bank of America credit card now has PIN option, which is perfect for Europe travel if you need to buy things using credit card at a kiosk (ex. train ticket, where you do not have human to process the purchase). Europe is chip & PIN credit card.