[cho]

Hey guys, is it better to go to the bank and switch my cad to usd? Or better off using my creditcard?
It's gonna be a day trip looking at about spending 200ish
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[murd0c]

I would use your credit card. Most places in the states don't use debit cards only credit. As well you receive failry decent rates from your bank.

I would just get cash if you are only planning on spending $200

[aznorris]

I have always used credit card when shopping down in the states. I'm not sure what the difference in rates between banks and CC companies but guessing its minimal?

[cho]

I use my cc for gas when I go to point Roberts I usually get 35 dollars worth and on my statement its about 37
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[Expresso]

Depends on how you value your time and money. If you exchange for cash, you will probably save at most 1-2% vs. just using your credit card.

[jack3d]

Just use the credit card. If you dont spend all your money you wont have to go and exchange it back to Canadian

[TheNewGirl]

Use your CC they'll charge you less than the fee if you change your money or anything.

Usually it's current rate + 1.5 - 2.5%. If you don't have a CC you can buy yourself a VISA gift card and do it that way, then you can spend the left over when you get home.

[shenmecar]

just use your credit card if its only $200.

[cho]

just use your credit card if its only $200.

and can i use your gps ^^

[insomniac]

Use your CC they'll charge you less than the fee if you change your money or anything.

Usually it's current rate + 1.5 - 2.5%. If you don't have a CC you can buy yourself a VISA gift card and do it that way, then you can spend the left over when you get home.

i usually use credit card lol.

cho if youre gonna get these visa gift cards then get them from vancity. vancity charges 4$ for unlimited amount but safeway/retail stores charges you activation fee AND tax.

edit: i think activation is 2$ per card

[MG1]

Nice Avatar.......... rear shot any good? Sorry for getting off topic.

So Vancity, huh? Anyone can go in and get visa gift card for 4 bucks above going exchange rate? Also, is the exchange rate the bank exchange rate?

[insomniac]

lets say you buy a 25$ gift card, or 50, or 100$ or 200$ gift card. you pay the amount your gift card is worth AND a $4 fee for activation at vancity.

the gift cards should work internationally so i guess visa does the money conversion?

edit: on the visa site it says that the exchange rate is the rate you buy your item or the day after

http://usa.visa.com/personal/using_visa/exchange_rates_faq.html

[winson604]

I tend to have a habbit of exhanging at least a couple hundred of cash. I would usually pay cash on some things and CC others like gas or bigger purchases. If you don't really care about 1 or 2 bucks then really if we're talking about $200 bucks here at a difference of 2% depending if you exchange or CC then that's $4 we're talking about. Personally I don't care but some do and that's fine with me.

[ilvtofu]

lets say you buy a 25$ gift card, or 50, or 100$ or 200$ gift card. you pay the amount your gift card is worth AND a $4 fee for activation at vancity.

the gift cards should work internationally so i guess visa does the money conversion?

edit: on the visa site it says that the exchange rate is the rate you buy your item or the day after

http://usa.visa.com/personal/using_visa/exchange_rates_faq.html

WTF would be the point of that? Might as well just use your existing credit card, and some places don't accept the visa gift cards in my experience.
Not sure why OP is worrying about $2 savings though lol, I use mastercard and they charge me about 1-2% for USD IIRC

[shenmecar]

and can i use your gps ^^

yeah, gimme a call.

[RevRav]

Last time I check....Vancity's gift VISA is only available in CAD. No USD available...so why brother?

[insomniac]

WTF would be the point of that? Might as well just use your existing credit card, and some places don't accept the visa gift cards in my experience.
Not sure why OP is worrying about $2 savings though lol, I use mastercard and they charge me about 1-2% for USD IIRC

im just pointing that out because TheNewGirl was like "oh just get a visa gift card"
http://media.tumblr.com/tumblr_l9qohnKjFK1qzzud0.jpg

[TRDood]

$200 essentially there's no difference in savings.

Just go to the bank and get the cash. I tend to use cash for restaurants and gas. CC for store purchases.
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[need2speed]

Get cash makes it so much easier
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[icemiko]

I have a USD credit card that I use.

[98twofourty]

at silver reef casino last saturday i exchanged 265 cad to 265 usd id do that if i were you, assuming the dollar hasnt changed.

[MG1]

at silver reef casino last saturday i exchanged 265 cad to 265 usd id do that if i were you, assuming the dollar hasnt changed.

Now that, my friend, is useful info. There are places that take Canadian at par. No extra charges. Any other places along I-5?

I imagine most casinos are like that. Canadian at par.

[ilvtofu]

+1 for silver reef. Damn they've been doing that for many years now, my grandpa passed away a few months ago but he used to exchange quite a bit of USD for my mom back then.

[shift_rh]

withdrawing cash from the atm in the states using your debit card is probably the cheapest way if you run out of usd in the states.

it's based on current day exchange rate plus the $1.50 transaction fee.

[syee]

The $4 charge on $200 ends up being 2%, which ends up being the same as the credit card premium over their standard exchange rate so you wouldn't end up saving any money in the end. (but wasted some time getting the card)

I'd just say use your credit card and be done with it. No need to go to the bank and line up for anything. If you really want to penny pinch, hit up VBCE (they usually are about 1c less than your bank's rate) but even then, you're really only saving $2. I'd only go if you're really close to one or have a LOT of money you want to exchange.

[TheNewGirl]

When I go down and plan to spend more than my credit limit on my card I buy $500 ones at Royal Bank and it only costs me $4.

My sister who has no credit cards at all buys them all the time for online shopping and for going down to the states. At $4 on $500 it's still WAY cheaper than exchanging money at the bank. You pay Visa's exchange rate (which is usually +2.5%). So for $504 you get $487.80 US when we're at par. The bank would give you closer to $475 if you did straight up cash.


I suggested is as an alternative if you don't have a CC that will carry the amount you plan to spend though. CC is still the best option.

[InvisibleSoul]

The best place to get cash exchanged is probably the VBCE...

http://www.vbce.ca/

It should always be at last a couple points cheaper than using your credit card.

I know that both my PC Mastercard and MBNA Mastercard both explicitly state that they charge an extra 1.5% fee on currency conversions.

However... if you're not dealing with large denominations, it's not that big of a deal... maybe the convenience of using plastic is worth the extra fee.

[MG1]

+1 for Vancouver Bullion and Currency Exchange.

I've exchanged other currencies there and never thought to exchange US. It should be basically at par right now, yes?

[cho]

went to the bank
203.46 cad for 200 usd