The credit card debate continues….
While I agree with parts of James’ last post on Jane Quinn’s book, I don’t exactly live by it. Don’t get me wrong, I’m all about spending less and paying down debt. Yet, living in the 21st century I’m not quite certain why she is still taking about checks. I’d also love to see the smirk from the car rental agent when you try to pay by check!
I’ve found yet another great advantage for getting a credit card. In the doctor’s office today I picked up a Money magazine and there was an article on how to get more bang for your USD when putting it up against the Euro (or anything else these days).
First I learned that the you’ll always get the best exchange rate paying at point of service rather than getting cash out at an ATM. I’ll admit that as much as I travel this was news to me. I often have to get cash out, before departure or in-country, since places don’t always take plastic.
At the bottom of the article they mentioned that Capitol One credit cards charge no fees on overseas transactions. Now this might not mean much for many of you, but as I’m headed to live abroad in a couple of weeks this is like money in the bank.
In fact, it is a 3% saving above other cards. Both my ING debit card and my United mileage card both charge 3% on transaction fees while abroad. Thus, until now I had been resigning myself to the fact that I’d be paying an extra 3% on all purchases made for the next couple of years.
Needless to say, I’ve already gone online to apply for the card. The Capitol One No Hassle Miles card earns you 1.25 miles per dollar you spend, has no annual fee, can be used on any airline with no blackout days, no limit to the amount of points earned, and no expiration on points. I don’t know if you can beat that, especially for those who travel abroad often.
Happy savings!
Miel
