Quote:
Originally Posted by ben voyonsdonc
Credit card companies usually charge a foreign transaction charge of around 2.5% on top of any exchange rate. Not all though. You should see what you credit card company charges.
An advantage to using a credit card is that some companies offer trip insurance/health insurance if you book flights on their card and some offer rental insurance on rental cars.
Also, it sucks to drop or lose money. If you lose a credit card, they can send you a replacement super quickly.
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So if you spend $1000 in the u.s. you get charged $25. Doesn't seem too bad considering you get insurance and extended warranties and the peace of mind of not carrying loads of cash around with you.
Problem is, if you return with $150 u.s. you get dinged again when you exchange back to Canadian. If you're short cash you'll get dinged $5 at the ATM machine.
Sounds like I might be answering my own question.