USD Bank Accounts and Credit Cards

[tinkerone]

Would it nor be asier to just carry cash???

easier than what? we carry cash but i'm always afraid that i may find something i want and not have enough cash. with a us mc i don't have to worry. same with renting things like cars or hotels. why carry the cash that could possibley be lost when i can carry a cc.
just my thoughts.

 

[realfam]

We only carry so much cash. You never know what your gonna buy. We like having a credit card for big ticket items, and just in case of emergency.

 

[Skitch7]

I've read that several U.S. gas stations are no longer accepting payment by Canadian bank-issued credit cards.

Here's the source: i75online.com/CreditCard

Has anyone run into this issue recently? Is it just isolated to gas stations or more widespread?

Cheers...

 

[tinkerone]

I've read that several U.S. gas stations are no longer accepting payment by Canadian bank-issued credit cards.

Here's the source: i75online.com/CreditCard

Has anyone run into this issue recently? Is it just isolated to gas stations or more widespread?

Cheers...

i could not get into your source artical but clarify this for me. do you mean a us cc that was issued in canada or do you mean a cc that is in canadian funds? there is no way they would be able to know where your card was issued so i don't get it. mastercards are issued from the us as are visas.

 

[Skitch7]

I can't seem to post links here...

To clarify, it appears that some gas stations in the southeast US require you to enter your 5-digit zip code when paying via cc. Zip code verification used for fraud prevention I presume.

 

[knitdiva]

yes, many gas stations at least in the Orlando aera now require you to punch in your 5 digit zip code. Know that in your rush to get back to the airport!! No zip code, you have to prepay your gas.

 

[Yzma and Kronk]

yes, many gas stations at least in the Orlando aera now require you to punch in your 5 digit zip code. Know that in your rush to get back to the airport!! No zip code, you have to prepay your gas.

I'll second that. We ran into that last week when we were gassing up the rental to take back. If you don't know how much gas you need - they will hold your credit card (ummm, I don't think so....) or you can give them a cash deposit and they will either give you back the cash and put it on your credit card - or give you the change from the purchase.

Very complicated.....

Also, watch the cost of gas near the airport in MCO. The one across from Thrifty was over a $1. per gallon more than other stations. Gas up on the way to the airport.

 

[bluenosemickey]

Yes, there is definately an issue with US gas stations and Canadian addresses on file for the credit card. We have a US dollar RBC ventura visa card and we have to pre-pay for our gas. It's a pain, but there's no other way around it, you just have to guess at how much you need.

We even had some nice attendant try to put in his ZIP code and because it's not the one associated with the cc, it didn't work. It amazed me how the system knows this!

To get back to the topic though, we have an american RBC ventura account and this is what we use to pay off the american visa card. This way we can transfer american funds when the exchange is exceptionally good some days and get some "dollar cost averaging" during the months leading up to our trip.

There is an annual fee associated with the visa card, $100 I think, but we are able to get visa points for our purchases and use them towards airfare in the future.

 

[LuvSnowWhite]

Okay, I must be slow but what exactly is the advantage of having a USD credit card over a Canadian one? Also does anybody have or know if the Disneycard is worth having?
Maybe a USD card is better for families?
Can someone please go over this again?
Thanks.
Gina in Vancouver BC

 

[bunnyfoo]

Okay, I must be slow but what exactly is the advantage of having a USD credit card over a Canadian one? Also does anybody have or know if the Disneycard is worth having?
Maybe a USD card is better for families?
Can someone please go over this again?
Thanks.
Gina in Vancouver BC

For me, the advantage is that I have a little more control over the exchange rate and my vacation purchases (ie. hotels, meals souveniers).

If you use a Canadian credit card in the US, you could end up paying a different exchange rate on each purchase because the rate fluctuates daily. Most credit card companies will also add on a small percentage to the actual exchange rate - it's usually something like 2.5%. It doesn't make a difference on small purchases but I notice it a little more on bigger items.

Another thing I like about US $ credit card is that if you ever need to make a return or have money refunded to your account, you'll get the exact amount returned to you. Last year when I stayed at the Polynesian, for some reason I was charged an extra night. When I called Disney, they reversed the charge but I had to argue with MasterCard as to why they should refund the entire amount - my refund was charged at a different exchange rate than my purchase.

Also if you have a friend or family member who works at a bank, they probably get a small discount on purchasing foreign currency. So when you pay off your US$ credit card, that's another way to save money.

Btw, I don't think Canadians can apply for the Disney Visa since it's from a US bank.

HTH

 

[KLondon]

The big advantage of a USD credit card is that you avoid the hidden conversion fee. When you use a CAD credit card to make purchases in other countries (i.e. the USA), you pay the exchange rate PLUS a conversion fee in the neighbourhood of 2% of your transaction total.

With the USD card, you avoid the conversion fee and you can take advantage of exchange rates that will always be better than what you would pay on a CAD card - i.e. you are in control of when you convert cash from CAD to USD to pay off your USD card.

Bottom-line: You save significant dough.

Disclaimer: I working in the banking industry

 

[LuvSnowWhite]

OMG I had no idea about this conversion fee. Makes sense then even for singles who go to disney alone to have one of these.
thanks guys.
Gina in Vancouver BC

 

[beavdisfan]

try t.d. u.s. visa
no fee that i know of just got it last month

 

[Exp.626Stitch]

I went to the TD US visa site and it says that there is ana annual rate of $25.
Other than BMO is there any other banks that offer a no fee US visa?

 

[minnie56]

I have an RBC USD Visa. No annual fee.
I think fees are often related to what kind of bank account you have with the Bank? I also have no fees on my RBC Avion Visa.

 

[fanoftinkerbell]

RBC US dollar visa... I was just on the phone with them and they told me that it's a min $5000.00 limit and there is a $65 fee with it.

I spoke to the bank and was talking about travellers cheques and other various ways to hav emoney down there without having an extra charge on my CC.

 

[minnie56]

As mentioned above..the fee is often related to the type of account you have with the Bank. That's pretty hefty..

 

[realfam]

We have a BMO USD no fee mastercard and its fantastic! Just wish I could get one of those Chase Disney Visa's though

 

[shydonna]

I have an RBC USD Visa for four years, and I pay the annual fee, and I earn reward points to use toward park tickets, airfare, etc. It is definitely worth the fee IMOA on this card as the "perks" attached to it save me money on car rental, insurances, etc.
Plus, I don't have the pay the exchange rate on my CAD visa card (2.5% additional exchange fee on all card conversions, with all Banks).
Best option out there!

 

[DearDaisyinDurham]

We have a BMO USD no fee mastercard and its fantastic! Just wish I could get one of those Chase Disney Visa's though

ditto! bring the Chase Disney Visa to Canada!!!