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Gitangali Mar 25, 16 12:14 pm

Best Credit card to use in Cancun
I have read about credit card/ATM fraud etc, Can I buy a VISA prepaid debit card in US and use it in Mexico? Walmart sells 500 Visa debit gift cards, this should work as a credit card plus you should be able to get Cash if required from the ATM machine. Also what is the best credit card to use from the exchange, foreign transaction fee point of view? I have bunch of credit cards

JDiver Mar 28, 16 3:43 pm

Visa is possibly the best and most accepted credit type card in Mexico, followed by MasterCard. American Express is a distant third, Discover in the dust. Diners rare unless it's (as many are) a MasterCard. A Vida card should be usable globally wherever Visa is accepted. In Mexico, look for the Visa logo on the ATM / cash machines.

Boraxo Jul 19, 16 6:51 pm

Your Subject does not match your inquiry.

As prepaid debit cards work differently than credit cards, you will need to consult the issuer and read the T&Cs to determine if they work outside the country of purchase. I would expect a prepaid visa card to work in Mexico but who knows how these transactions are processed. I would not want that to be my only source of funds.

There are many threads in TravelBuzz on the best credit cards and ATM cards to avoid forex fees. There are even threads in Mexico that speak to this issue. In short there are many banks that issue cards without forex fees. Visa and MC are accepted everywhere. Amex is accepted by most decent restaurants and hotels. I have never had a problem using no-fee CapOne and Chase cards which use the interbank forex rate. In my experience you can charge almost everything except taxi rides so I rarely need more than USD $100 during a one week family vacation.

All Mexican bank ATMs now charge a fee of 20-60 pesos to withdraw cash (the fee varies, so make sure you check before accepting the fee). So it makes sense to do fewer larger transactions to avoid fees. Also you should AVOID non-bank ATMs - there was a nice post from Krebs on all of the skimmers that he found hidden in ATMs at hotels & resorts in Cancun as well as ATMs on the street. He did NOT find any skimmers at banks so think about that when selecting your ATM. You own bank may charge you ATM and forex fees - check the other threads for suggestions on no fee cards like Schwab and Fidelity (1%).

JDiver Jul 20, 16 8:47 am

Nice summary, Boraxo! Gracias.

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