Any suggestions: a form of plastic (NOT credit card) that I can count on?
As my Oz savings continue to grow I am starting to be concerned with more and more how I am actually going to carry this money when it's time to go.
I know some travelers really swear by them but I HATE credit cards (and very well may not be able to get one without a huge variable interest rate.)
I hear about the hassle and huge service charges of travelers cheques.
Debit cards aren't the worst option perse, but the fact that I am sure a hidden surcharge will be tacked on every little transaction (especially since it's oveseas) and the fact that this plastic will do nothing to help me build my credit isn't the greatest.
Does anyone know of any good prepaid bankcards that would have a positive effect on my fico score, be widely accepted in Australia, allow me the full atvantage of the current exchange rate and be easy to replace if necessary?
I know it's a lofty question, but I am ever the optomist. If any of you know of a good bank/card that won't screw me over let me know
As for credit cards, they charge you a fee for traveling abroad, however if you pay it off right away that is good for your credit score.
We have our savings in a money market account, which pays 4.5% APR, and with our debit card, we can transfer money into the checking account and pay bills online. I love the internet! That way our travel budget can be drawing interest while we are away.
by those who can't hear the music."
if i am correct, american express do prepaid credit card. You can top them up online and when you are done with them, you can bin them. You get a pin number as for a debit card but what is good is that your pin number will work in any cash machines (some pin numbers' format do not work in some countries)
Hope this helps
They call themselves "the world's bank" and I was never charged an atm fee or transaction fee for using the card.
From what I read they have branches/atms in many countries around the world.
Lis's Travel Tips 30 years of travel experience.
"American Express has determined that it will no longer be supporting the Travelers Cheque Card. We would like to thank you for using the American Express Travelers Cheque Card and apologize for any inconvenience caused by this decision.
As of October 31, 2007, your Travelers Cheque Card has automatically been cancelled, and you will be issued a refund for any remaining outstanding balance on your Card."
I don't know about Australia, but in the US, all these checkcashing chains have their own pre-paid credit cards. They work like a debit card, have the visa or Mastercard logo, you can check the balances online. And even sign up for cell phone text messages on transactions(my favorite feature). I liked the thing more than any other card I ever had.
I think for a fee they even report good info to the credit reports too. Which is what you wanted.
I even got a portion of my paychecks to get direct deposit into them too. Which maybe you can wire funds into it if needs be.
That one was called NetSpend. I haven't used it in more than a year, but I may get another one if I ever get to go somewhere again.
I don't know Australian rules for opening accounts however. This sounds similiar to what I was talking about. But I know nothing about this particular one.
Australia news link
Everywhere's nice if you are just passing through or you have money, it's a different story to live there.
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