tortellini

Hello all,

since my ATM capacity is limited (I have a card belonging to the ATM network which allows me to get cash at Bank of America without fees), and since I need more cash I need a solution.

I do not want to withdraw the cash by using my credit card at a ATM machine, this is extremely expensive.

Do you know of any currency exchange office where I can buy US dollars and pay for the transaction with my credit card (so I would even get my miles) - ideally with a branch in Boston or Miami?

It should really be bookable online and in advance to know exactly the currency rate.

Thanks a lot!

P.S. is it true that if I buy something lets say for US$ 300, I can ask to charge my credit card 500 and get the change?

Bakpapier

If buying $ with your credit card would be at all possible at a not too expensive rate, that would be by far the easiest ways to MS and gain airline points, haha.

Withdrawing money with your creditcard: yes it costs money and how much depends on your credit card. For me it costs a whopping 4,50 per withdrawal, plus some percentage of the withdrawn amount though the latter is not so significant. Though of course I try to avoid doing that, I have had to withdraw the cash with my CC in Brazil on numerous occasions as they don't always accept my credit card. If you just withdraw a couple 100 $, and eat the 4,50 fee (assuming your CC has a similar rule) then it isn't THAT bad, is it?

lhrsfo

Normally withdrawing cash with a credit card attracts interest from that day, and often is excluded from points earned. And bureaux de change count as cash withdrawals. Cashback on top of a purchase likely won't work either as the merchant fees are percentage based rather than flat rate.

Perhaps a solution would be to open another bank account and get another debit card.

cbn42

I've never heard of any such thing. If you "buy" cash with a credit card then it is considered a cash advance, whether it's at an ATM or in person. Shops allow you to get cash over on debit cards or Discover cards, but not other credit cards.

Your best option will probably be to contact your bank and ask for your the withdrawal limit on your ATM card to be increased.

Palal

Here's another option - go into a bank, and ask for a "cash advance" on your DEBIT card (which is really just a cash withdrawal). That might be subject to some fees, depending on both banks, but I've had success of getting money above my daily ATM limit.

emma69

You will likely get hit with a cash advance fee if you do this (I did it once, by accident, used my credit card instead of my debit card - ouch!)

StartinSanDiego

Moderator Note: I'm going to move this over to the Credit Card forum, where the experts there can chime in on your cash advance options.

Unfortunately, you will not get miles for any type of cash advance.

bbtrvl

There are some currency exchange places that will do this, but it will always count as cash advance and you will have to pay the same large fees and interest as if you used your credit card at an ATM.

The real problem you have is that your EU bank does not want to dispense very large amounts of USD cash to you each day. Unless your EU bank increases your cash withdrawal limit, or you open some more accounts at other banks, you will have this daily limit on how much you can get.

In Boston or Miami, almost every merchant will take credit card except maybe for small purchases (<$10) so I question why you need such amounts of cash so fast.

If you are transferring to a private individual, perhaps an international wire would be more appropriate.

Not using credit card and not at every store. If you are using debit card and at a store that offers it, usually large grocery stores, you can ask for cash back. Many people use this as an alternative to ATM.

der_saeufer

In addition to the transaction being treated as a cash advance anyway, it's virtually guaranteed that a bureau de change will give you a significantly worse exchange rate than just getting cash out of an American ATM.

I'm also a bit confused as to what you need that much cash for--unless you're buying something like a car from a private party, you can pay for virtually anything with a credit card in the US. It's not an exaggeration at all to say that you can get through a month in the US with a credit card and maybe $200 cash. I often go a month between $100 ATM withdrawals, and it's not because I'm not spending money.

tmiw

That only works for American debit cards. Stores here seem to always run foreign cards as credit even if it's actually a debit card.

I think it depends on where in the US and what kinds of places you like to go to. Major retailers in large cities, sure. A lot of smaller businesses really don't want you using your card though and will commonly do various things (usually a $5-10 mininum and/or a 25-50c surcharge) to discourage you. Also, card terminals commonly still use dialup in rural areas, making cash a much faster experience--if card's even accepted at all.