Originally Posted by
tom911
I see you're Canada-based. Can you clarify which card (debit, credit) hits you with the 19.5% interest? Is it, like Fredd suggests, a cash advance on a credit card?
It's an Aeroplan Visa credit card. If I put that in a bank machine and take out cash, its considered a cash advance and attracts interest immediately. However, if I use my debit card, that is just taking money out of my account and no interest is charged.
For most purchases though, just using your credit card is the easiest, and then Visa or MC does the currency conversion for you on your statement. Most Canadian cards have about a 2.5 or 3% foreign exchange fee if the transaction isn't in Canadian dollars.
Some places you'll need cash, I don't think the Toronto transit system takes cards of any kind, but I've never tried.