Which credit card to use overseas?
 

Can anyone suggest the best credit card to use overseas, specifically in India or Europe?

it is goood that you specified India and Europe - because when saying overseas I think of the Americas first ...

If you consider only acceptance (and not miles/points/insurance/service etc), than in Europe it is:

1) Mastercard/Eurocard
2) VISA
3) Northern and Central Europe: Diners; Southern Europe: American Express
4) Northern and Central Europe: American Express; Southern Europe: Diners

[This message has been edited by Rudi (edited 12-12-1999).]

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I agree with Rudi. Visa and Mastercard are pretty much universally accepted in Europe. I would add that if you are travelling to the United Kingdom, Amex is more accepted than Diners and you can certainly use it in virtually all hotels and 'tourist towns'. In fact, I only carry my Amex card in the UK but I always take my Mastercard to the Continent. http://www.flyertalk.com/forum/smile.gif

Less Frequent:

I would advise checking with you bank to see if they charge a fee for foreign purchases. I know that some banks are now charging 1% or more instead of just giving you the straight interbank exchange rate.

I carry a MasterCard, Visa, and American Express when I travel.

I find that pretty much covers every place that takes plastic at all...

I believe that Visa is accepted in the major cities of India.

Between American Express and Mastercard I've never had any trouble in Europe, including Russia, Turkey, and Ukraine.

My primary consideration would is whether the issuer charges a surcharge for foreign currency transactions...and of course whatever reward points one might get.

I vote for Visa if you have only one card. I usually leave my raft of cards home when I travel to limit my hassle if my wallet is stolen. I even charged my hotel in Cambodia on Visa a month after the UN took over. It took 6 months to clear but it worked!

You didn't mention exactly where you were travelling in these parts of the world -- major cities and resorts or into the countryside -- but having made a film in India, I've had plenty of experience in handling payments of all kinds.

With respect to that country: at major hotels, restaurants, etc. in the main cities any of the three major cards are accepted, as well as Diners. Visa and Mastercard can generally be used in smaller centres only at major outlets (i.e. chains of hotels, banks) but not at many smaller hotels, restaurants and shops. Cash is required for most transactions, and the 500 Rupee note the main denomination. You'll have bundles of them if you need to go into the smaller villages and towns for any length of time. Bank branches will cash traveller's cheques for a fee, and cash advances can usually be had on Visa and Mastercard. (Withdrawls from US/Cdn chequing or savings accounts don't seem to be possible and come out as cash advances keyed to you principal credit card.)

Hope this helps you.

which affinity credit cards charge less than 2% premium for purchases in other than US$? I will be traveling to Mexico in a month and just realized my two affinity cards (citibank and Amex Starwood) both charge 2% transaction fee for currency exchange.

Is there a list somewhere?

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Two wrongs may not make a right, but three lefts do.

Rudi is always right, so this post isn't trying to pick up a fight! Actually, in France, Visa is more accepted. French merchants used to accept Carte Bleue (excuse my spelling). CB is now Visa.
In the future, you may have to check all your cards because some banks may add charges above and beyond Visa or Master Card. Currently, Amxex is slightly more expensive.

Consumer alert:

Check any credit card agreement changes that come in the mail. Some banks are going to start charging up to 4% above the wholesale exchange rate. I believe that a standard 1% has been standard for all visa/mastercard credit purchases.

With the Euro now a standard currency, for travels in EU-member countries, any idea how to get a EU-member bank to issue U.S. residents a bank card? If so, what is the most economical way to transfer money between the U.S. and the EU?

You see a lot of Mastercard/Eurocard plastered on store-fronts in the UK.

If you try to get a cash advance, even at an ATM that has a similar symbol on the back like STAR or Cirrus, you may not get any cash. It worked for me with my Wells Fargo MC at LGW but not at LHR or in town at ATMs. Talking to Wells Fargo customer service didn't help, they said "Yes, any machine with the Cirrus or STAR symbol will issue you cash." Suprise!

Anyone else have a similar problem?

Thanks all. I guess my question was more like the question that Blade asked. Which are the specific cards (Banks, companies, etc) that avoid as many percentage surcharges as possible, not to mention annual fees and the like. Also, I guess I don't know the basics either. Is there always a transaction fee or exchange fee or some other kind of fee?

LessThanFrequent..

My advise is based on regualr travel to India, and the fact that I used to live in Europe. A few simple guidelines:

1) Never limit yourself to one card. So ensure you have two credit/charge cards. Mainly to ensure you can pay in most places, and secondly to ensure you have enough credit available in an emergency. Therefore I suggest you obtain one Visa or MC, and Amex.

2) Ensure adequate cash access. As mentioned above, you will need to carry cash in India, in small denomination notes as well. So ensure you have an ATM card - Cirrus - has worked well for me, and there are ATMs in India (look out for ANZ Grindlays Bank).

3) Take traveler's checks. Always useful in emergency. There is no commission if you buy and encash at Amex (they make profit on the float instead). You can rarely cash a TC direct at a retailer in Europe or India.

4) Amex will give you an emergency cash advance over the counter at their offices. (The one in Delhi is in Connaught Place and took under 15 mins)

5) Now your concern over fees. All card issuers are able to charge you for converting each foreign charge into US$. They can set whatever rate they wish. This rate is however lower than buying foreign cash at an airport counter. As each issuer differs so much, I suggest you contact those relevant to you and work out who is cheaper. Ultimately you will have to pay someone.. either the card issuer, your ATM provider or the Traveler's Cheque (if you encash at hotel).

Anyhow. Enjoy your trip !