Credit Card Charges

[Bustaty]

Wondering what would be most cost effective for me.

Canadian here and on board charges will be charged to our Canadian Credit Card. The Canadian dollar is the strongest it has been in 28 years. I know the rates get set, perhaps a few times a year and want to make sure we can take advantage of the good conversion.

Therefore, can I pay my bill at end of cruise in American dollars and forgo the credit card? Or would it be smarter to get an American Credit Card. Not terribly finance savy here, anyone with a suggestion?

Thank you.

[Kiwifruit]

Exchange rates used by credit card companies change on a daily basis. I always find it most convenient to charge as many things as possible to my credit card (which in my case is Australian). The exchange rate you get on credit card transaction would certainly be better than what you would obtain if you were to buy US cash.

[scdreamer]

Check with your credit card company to see if they charge any fees to convert the foreign charges into your currency. A couple years ago we used our favorite air-miles card on an extended trip abroad in order to get the best exchange rate, but the unexpected fees we were charged by the credit card bank (supposedly to compute the rates - don't they have computers for that???) ended up costing us more than it would have cost to use and convert travelers checks or to use another card.

[LHT28]

Most CDN cards charge a transaction fee of 1-3 % depending on the card company this is on top of the exchange rate.

With our dollar being stronger now I might be tempted to take some U.S. funds and pay off my shipboard account depending on the exchange rate when you sail.
You could always get traveller's cheques when rate is good for paying off S/S card onboard

Today it is about $1.12
http://www.oanda.com/convert/classic

[ClaudiaF]

you can pay in cash at the end of your cruise if you decide not to charge it

[Benita]

Does Capital One operate in Canada? It does not charge foreign conversion fees or fees for using foreign banks. The rewards program is not great, so we only use it abroad, but it does save about 3% due to lack of these charges.

[Rickey 88]

Does Capital One operate in Canada? It does not charge foreign conversion fees or fees for using foreign banks. The rewards program is not great, so we only use it abroad, but it does save about 3% due to lack of these charges.

Not sure what you mean by "does Capital One operate in Canada"....
If you meant to ask, would one of their cards by accepted in Canada, the answer is "yes". However, since you appear to be located in the US, and I would not think that they would want issue a card to a US resident from their Canadian office, which is located in Scarborough, Ont.

[Benita]

What I meant was, would Capital One issue a card to a Canadian? If they would and that person used the card for purchases in other currencies, they would not be charged the foreign currency fees, as Capital One does not charge these fees.

[Bustaty]

Thanks everyone, looks like I have a few options here to investigate.

[CathyCanada]

I always bring cash and after the first day put some on my account. You can always buy the money at less than the credit card companies charge. I also have a US credit card through TD-Canada Trust but you do pay an annual fee so to get one just for travelling would not be worth it.

We sailed on the Insignia last fall in the Med and loved it! Great ship, great itinerary and great fun! Enjoy your cruise!

[green hornet]

I would get a US credit card, and pay it off when you get back. They nail you on exchange rates, probably 5% over the real cost.

[1932Canal]

I would get a US credit card, and pay it off when you get back. They nail you on exchange rates, probably 5% over the real cost.
I am in the process of getting a TD U.S. Dollar Advantage Visa Card. The annual fee is US$25.00. That being said, since I travel to the US (from Canada) at least a couple of times a year, it is to my advantage to deal with Exchange rates back here in Canada and not through an International bank or Credit Card. However, doing what I am doing may not suitable for everyone. Therefore, if your Credit Card is with a NON US currency be sure to advise the Purser's department that you want everything billed to your Credit Card in US Dollars, and let the Credit Card Company do the Exchange Rate Conversion. They'll charge you a percentage fee for sure but it'll be less than the Cruise Line will charge you.