Cash, credit or travellers cheques?

[astroboy]

This is not strictly DL related, but I'm hoping someone will be able to help.

My partner and I are from Australia and will be heading to the US in November (LA, NY & Washington DC).

Our plans are almost finalised and I'm happy with how things are looking, however I really don't know what to do about the money situation.

Here's my question: Is it best to carry cash, credit or traveller's cheques in DL (and the US in general)? Or is a combination of all three the best bet?

When I say cash, I mean we will convert our Australian dollars to US before leaving and only take what we need for each day. I also hear it's a good idea to carry a bunch of one dollar bills around for tipping, but I'm not familiar with that as we don't really tip here.

To make things a little more complicated, the banks charge something like AU $4 every time you withdraw cash from an ATM in the US. Crazy eh? So I guess I'm trying to avoid the fees associated with that.

Anyway, I appreciate any advice you may have for me.

Thanks heaps!

 

[cinderkellee]

Astroboy -

I would bring a combination of all 3 currencies this way you are over prepared
and won't get charged if you take out money from an ATM machine, $4 is crazy! Travelers checks can be good in that if you don't owe the total amount you would get the change back in cash. And credit cards are always good.
I would not recommend however, bringing it all to the parks though. It is definately a good idea to keep your money locked in your hotel room and take out what you need each day. Most hotels have a safe in the room with a key or a combination that you can make up.
As far as tipping goes, usually it is customary to tip if you eat at a sit down style restaurant, bell hop to take your luggage to your room ....
So $1 bills would be good to keep handy. I know in NY I usually double the tax and if the waiter/waitress is really good I will give them an extra dollar.
Hope this helps!

 

[nemofanatic]

i WOULD ALSO KEEP IN MIND THAT WHEN YOU USE A CREDIT CARD OUT OF YOUR COUNTRY, YOU MIGHT RECEIVE AN CONVERSION FEE FOR ANY CREDIT TRANSACTIONS. I WOULD CHECK WITH THE BANK LISTED ON THE CARD. IN THAT CASE, I THINK THAT EITHER CASH OR TRAVELERS CHECKS WOULD BE BEST. TRAVELERS CHECKS ARE PROTECTED IF ANYTHING HAPPENS, CASH WOULD NOT.

I HOPE THIS HELPS YOU OUT

 

[carinv]

Hi Astroboy,

We have just got a Wizard credit card that has no annual fees, and more importantly, no international transaction fees!

We only got a $4000 credit limit, but it all helps I guess.

We are thinking of taking cash, some cheques and our credit cards.

I have heard that if we get our cash and travellers cheques from Travelex, they will buy back any we don't use for the price we bought them, no comission. Sounds like a good deal.

Good luck

 

[astroboy]

Thanks for the advice everyone.

carinv - I've decided to apply for a Wizard credit card, even though it looks like a deal to good to be true! About the credit limit... I actually want to try to use it as a debit card. ie. transfer some savings into the account to cover our expenses for the trip, so that we're not withdrawing money that we don't have. Hopefully the Wizard card will allow us to do that.

 

[Glynis]

I think a combo of credit/cash is a good idea. The stores will all take credit cards, but it's nice to have some cash on hand for some of the vendor carts. They don't take credit cards, and it's nice to be able to stop when you want for a Mickey bar, etc.

 

[carinv]

Hi Astroboy,

We have used our wizard card for our car rental, which we have booked through Yes Car Hire in England.

It is true!! No Currency conversions fees at all!

Our car hire was $1137, and we could have copped 2.5% with some cards. It is only $25, but that is better to be still in my pocket!!