09-21-2017, 05:48 PM
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#21
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Lifetime Suspension
Join Date: Sep 2011
Location: Calgary
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Quote:
Originally Posted by tvp2003
I also got the Amazon Visa (issued by Chase) for this very reason -- I'd be curious to know if there are any others out there. Won't help the OP in this case but FYI there is no annual fee.
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I got this card as well. Purely for US trips.
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The Following User Says Thank You to Canehdianman For This Useful Post:
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09-21-2017, 06:00 PM
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#22
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Franchise Player
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Quote:
Originally Posted by Wormius
I don’t think the Amazon Visa has any additional perks. It just waived the foreign exchange fee. If you’re going to a restaurant you would be better off using a Costco capital one with 3% cash back, or for gas/groceries use the Scotia momentum infinite visa for 4% back.
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You also get 2% cash back on Amazon.ca purchases and 1% cash back per $1 spent everywhere else.
For a no fee card it's pretty decent. Especially for shopping online and US travel.
Last edited by DownhillGoat; 09-21-2017 at 06:02 PM.
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09-21-2017, 06:40 PM
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#23
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Franchise Player
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Just lift somebody's wallet - it will save you thousands
__________________
If I do not come back avenge my death
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09-21-2017, 07:24 PM
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#24
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First Line Centre
Join Date: Jul 2015
Location: Calgary
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I use cash, because I have a US dollar account, so I can just put any left-overs back there. If you choose that method, however, do not get the account at BMO. I can't access the funds from the US, must make a cash withdrawal before leaving Canada, which isn't helpful if you want access to a larger amount. My friend has a US account with RBC and she got a debit card that works in the US and accesses her US account.
It's not the US, but a few years ago, I tried three different methods while travelling in Barbados - exchanging cash, using a credit card, and using my debit card to withdraw from a local ATM. The debit / ATM gave me the best rate, by far, for transactions.
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09-21-2017, 10:10 PM
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#25
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Scoring Winger
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Quote:
Originally Posted by stampsx2
Except for the annual $65 usd charge
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They waive the fee if you have a USD account with them
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09-21-2017, 11:15 PM
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#26
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#1 Goaltender
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Unless you have USD hanging around, you will be paying for the conversion to get the USD regardless of the method of payment. I did a bunch of real time comparisons when I was wintering down there between my Canadian CC and my US visa from my US account filled with money I transferred via XE trade. There are some more complicated ways to get a better exchange rate than XE, but nothing simple.
In the end, factoring in the rewards I have on my Canadian card (approx 1.5%) it was very nearly a wash.
I still have a US bank account and Visa, but I will usually use my Canadian CC because it is more convenient as well as the extended warranty and purchase protection. I go for several short trips a year, as well as 2-3 longer trips, and I would just pull a small amount of US cash from a bank machine with my Canadian bank card (or from a currency exchange place) and just use my Canadian CC for most things, if I were you.
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09-22-2017, 07:50 AM
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#27
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First Line Centre
Join Date: Feb 2010
Location: Calgary
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I generally use my Visa card (with the bank's extra 2.5% fee) when in the states, it's just easier than carrying a ton of cash. But I also collect travel points, so as others have said, it offsets the 2.5% to an extent.
But I always make a point of taking $100-$200 cash as well for smaller things or little incidents that can pop up. Like my company CC not being accepted by the swipe machine in the cab I took from Manhattan to Newark at 3:00am, having the cash on hand was a life saver.
Before our last trip I was looking into the Marriott Rewards card without the foreign transaction fee, but the annual fee seemed like it would eat into the savings pretty quick, and I found you can get better pricing on Marriott hotels through Expedia... so the rewards weren't super appealing.
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09-22-2017, 10:19 AM
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#28
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Franchise Player
Join Date: Apr 2004
Location: 127.0.0.1
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Banking in the US is like being in a 3rd world country. My bank card wouldn't work anywhere because the strip is worn off and they don't have chip technology. Still have to sign CC slips for purchases. very 80's ish.
__________________
Pass the bacon.
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09-22-2017, 10:41 AM
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#29
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First Line Centre
Join Date: Aug 2009
Location: Calgary
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^^^ or their few and far between debit machines.
Anybody ever try to get cash back at a grocery store or Walmart?
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09-22-2017, 11:14 AM
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#30
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First Line Centre
Join Date: Oct 2011
Location: Winchestertonfieldville Jail
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Get an Amazon credit card, free to sign up and saves you the 2.5% charge... its an awesome card and I use it whenever I travel to Europe/US
https://www.chase.com/online/canada/...ca-rewards.htm
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09-22-2017, 11:50 AM
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#31
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Powerplay Quarterback
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I try to deal with US dollars as much as possible when I travel to the US. I have the TD US Dollar credit card and I also keep a US Dollar bank account at TD (Borderless Plan), which I use to pay my US dollar credit card bill. To replenish funds in my US Dollar bank account, I convert Canadian dollars using Norbert's Gambit.
However, to book hotels and flights, I will use my Canadian travel credit card to take advantage of the travel medical/interruption insurance and car rental collision/loss damage insurance benefits. So I do get dinged there with conversion fees.
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09-22-2017, 07:38 PM
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#32
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Lifetime Suspension
Join Date: Jul 2015
Location: Hmmmmmmm
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Quote:
Originally Posted by squiggs96
This hasn't been required in at least two years by almost all the big banks. It's neither necessary, nor wanted by the banks.
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Wrong. My RBC card was locked because I used it overseas this past month.
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09-22-2017, 07:47 PM
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#33
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Franchise Player
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Quote:
Originally Posted by calgaryblood
Wrong. My RBC card was locked because I used it overseas this past month.
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He never said they wouldn’t lock it. He said they don’t require or want it reported.
They’ll still lock it, but reporting is no longer required. I called in to report mine and CIBC told me they don’t do that anymore. Then locked it down when I traveled.
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The Following User Says Thank You to DownhillGoat For This Useful Post:
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09-22-2017, 07:50 PM
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#34
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Lifetime Suspension
Join Date: Jul 2015
Location: Hmmmmmmm
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So then how isn't it required? I wanted to use my card and was told the same thing by a friend and then they locked it on me and I was SOL. Seems like if I called and let them know it would have been better for me.
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09-22-2017, 07:52 PM
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#35
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Lifetime Suspension
Join Date: Jul 2015
Location: Hmmmmmmm
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Quote:
Originally Posted by Cecil Terwilliger
I think only Scotia still encourages notification when traveling but no banks really require it anymore.
However that doesn't guarantee your card won't get blocked. But if it does, you just need to call them and they'll unblock it.
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Thats great when you're travelling to a country like America or Mexico but when you're travelling to places like the middle East and phone access is scarce and a 9 hour time difference, calling becomes much harder.
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09-22-2017, 11:44 PM
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#36
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Franchise Player
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Quote:
Originally Posted by calgaryblood
So then how isn't it required?
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Because they refuse to flag it? Not disagreeing with you, the banks stance is absurd. But they still claim it’s not required.
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09-23-2017, 10:39 PM
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#37
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Franchise Player
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RBC has a USD credit card from their US subsidiary that has no annual fee and does cash back. Then covert only the exact amount you spent on your trip when you get home.
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09-24-2017, 04:17 PM
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#38
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Franchise Player
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Quote:
Originally Posted by BigNumbers
For all the reasons you mention, I use a USD credit card with no fees, and pay off the USD card balance with a USD/CAD transaction myself, using a bullion exchange to pay off the card at market FX rates.
But to avoid that headache if that's not your thing, just using your CC is the 2nd best option. The second you have to exchange cash back to CAD after taking out too much USD for the trip, you're behind the eight ball.
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This is exactly what I do. Use a USD credit card, so there is no 2.5% currency conversion charge on each transaction. Then you can pay off the whole balance in one transaction at the end of the month.
And of course, you should find an efficient way to buy USDs here to pay it off. There have been multiple threads talking about where you can get a good exchange rate.
Also, if you travel regularly, have an ongoing cash supply. If you get your cash with a good exchange rate, cash is always the cheapest way to make purchases.
The number one thing to remember (regardless of the specifics of your strategy) is to minimize the number of currency exchange transactions you need (which is why a USD card is useful)
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09-24-2017, 04:37 PM
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#39
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First Line Centre
Join Date: Dec 2013
Location: Canterbury, NZ
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Does the US still hate debit? Last time I visited was in 2011 and paying with debit was really tough/not possible in a lot of places.
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09-24-2017, 04:56 PM
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#40
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Franchise Player
Join Date: Nov 2009
Location: Section 203
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Quote:
Originally Posted by calgaryblood
Wrong. My RBC card was locked because I used it overseas this past month.
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I'm not wrong. Just because something happened to you, doesn't mean what I posted was wrong.
Here's their link: https://www.rbcroyalbank.com/onlineb...avel-plan.html
Quote:
You no longer need to notify us when you travel
If you'll be travelling soon and plan to use your credit card or client card, you no longer need to tell us you’ll be away from home. We have industry-leading fraud detection systems that protect you and your accounts from suspicious or unauthorized transactions. Just make sure we have your up-to-date contact information so we can reach you if necessary. To view or update your contact information, sign in to Online Banking and select Profile and Preferences from the Banking tab.
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Originally Posted by Bingo
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Originally Posted by dissentowner
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