reader Posted January 23, 2018 Posted January 23, 2018 Credit card and ATM questions arise from time to time. Thought it might be helpful if members post info on cards they find good deals for travelers. Benefits associated with the Amazon Rewards Visa Card (issued by Chase Bank, USA): - No annual fee - No international transaction fees - 3% back on Amazon purchases - 2% back on restaurant, drugstore and gas station purchases - 1% back on all other purchases Quote
Guest Posted January 23, 2018 Posted January 23, 2018 The opening post may be of interest to the many US readers here. Maybe the interest rate could be of use ? For UK readers, the Halifax Clarity credit card is good. No international transaction fees (typically 2.75%+ with debit & credit cards from other banks) No fees for foreign currency withdrawals (typically 2.75%+ with the others) No annual fee 1% interest rate To minimize interest paid, it's possible to log onto your bank account and make an immediate payment to the credit card. You still have to pay the unreasonable Thai ATM fees for foreign cards, so a Thai bank account usually is cheaper. Quote
reader Posted January 23, 2018 Author Posted January 23, 2018 ATM card issued in conjunction with State Farm Money Market account reimburses all foreign and domestic ATM fees if you have an automatic monthly deposit (i.e., social security, pension, etc.) made into your account. Quote
vinapu Posted January 25, 2018 Posted January 25, 2018 best cards I came across are ones with portrait of B.Franklin, exchanged for similar ones bearing portrait of the late Thai King bit bulky but no transaction fees, when travel always use those ChristianPFC, Andy2512 and TMax 3 Quote
Guest Posted January 25, 2018 Posted January 25, 2018 What Vinapu quotes is in fact cheaper than the vast majority of card withdrawals. Which is why I actually take cash as well, leaving credit cards purely a back up. My total transaction losses when handing over notes with her majesty the Queen on & getting Thai baht in return amounted to 0.4% on the recent trip. If you withdraw 20,000 baht cash from a Thai ATM card with the typical UK card, you lose 2.75% + 150 baht for the ATM, or whatever it is now. So total losses about 3.5%. Visa or Mastercard also take a small cut, but this is almost nothing. Even if using a Halifax Clarity card & logging onto your UK bank to pay it off immediately (avoiding any of the 1% a month interest), the extortionate Thai ATM fees make taking cash more economic. Quote
paulsf Posted January 25, 2018 Posted January 25, 2018 But from the other side....many of us have cards that have no foreign transaction fees and don’t have to pay the Thai bank ATM fees. So again it’s not a one size fits all. We all have different situations. Quote
TMax Posted January 25, 2018 Posted January 25, 2018 Cash is best for me, the card is used to pay for hotels and as back up in case of unforeseen expenses Quote
vinapu Posted January 26, 2018 Posted January 26, 2018 But from the other side....many of us have cards that have no foreign transaction fees and don’t have to pay the Thai bank ATM fees. So again it’s not a one size fits all. We all have different situations. nobody suggested otherwise but discussion above is very useful just to show what we need to watch, exchange rates and transaction fees feature prominently in those calculations. Sometimes my not be fees to pay but rate may be poorer than on cash exchange, for some it may be more advisable to buy domestically USD and exchange them into Thai baht / my case, although difference is narrowing to almost nil / , others may find most efficient to change their domestic currency direct . Even place when we exchange money may make quite q difference if amount is substantial. Quote
