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Best Credit card for Mexico, south/centeral America.
I'm looking for a cc card with no foreign transaction or atm fees. What would you suggest?
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Unsure if there's a "no-fee" ATM card, though Discover had no/low fees while I traveled through Canada. My other cards incurred hefty user fees.
Also, even if ATM cards have no bank (issuer) fee, the vendor (ATM location) may tack on fees. |
My US American Airlines AAdvantage Aviator credit card has no foreign transaction fees. My debit card in Mexico is Bancomer. Many American expats here in my area tend to favor Capitol One, I just have not gotten around to researching it much.
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As mentioned, nearly ALL USA ATM cards have fees ... plus the Mexican bank will tack on another fee of their own. But it's a FLAT RATE fee ... and this is why it's best to withdraw large amounts at one time. Usually about $3 per withdrawal plus whatever the Mex. bank charges. (yes, it's a racket!)
So, Fee is the same if you withdraw $50 or $500. Credit Card. Best to just shop around the big companies, see who does NOT charge foreign transaction fees. My Citi master card DOES charge foreign fees, as does my Discover and Well's Fargo Visa. Banks change policy on this a lot so let us know what you find out ... if Capital One do not charge then I'll sign up for one of those next trip! :thumbup1: There are several who DO NOT charge ... just can't name them. In Mexico it's a crap shoot regards ATM cards. Some cards work at ATM's, some don't. I found one Mexican bank (Bancomer I think) that worked with one of my ATM cards and I just would go that same bank every time. Fees are killer. Nothing to be done that I know of ... aside from dealing with locals who may want to buy CASH dollars and will pay a good rate. (some Pemex stations will change dollars ...no fees, sometimes OK rate.) At fancy tourist type business's they usually accept credit cards but many smaller business's will not accept cards, small Hotels and such. The FEES charged are TOO HIGH so they boycott these banks. But on my last trip I found that now more Mex. business's are again accepting CC whereas a few years ago not many would. YMMV. bier |
assuming the OP is american, charles schwab offers a no fee debit/atm card, but you have to have good credit.
bank of america charges 3% on atm withdrawals....bastards |
Our Oz bank charges a flat rate of $4 which is OK since we can usually get $1000 at a time from the ATM and some ATM operators charge no fees.
BUT couple of days ago in Ecuador - where the single withdrawal limit is universally US$200 with a daily limit of US$1000, the ATM fee was $8 so total fees of more than $10 to get a huge $200 out. THAT is a ripoff. |
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------------------------ You should travel with more than one card ... at least one Visa card and one Master card. You might even make it 4 cards .. Visa credit, Visa debit, Master credit and Master debit. |
The Banks in Mexico charge you a fee for using the ATM, even if your bank doesn't. For me the best way is to go to the Banamex ATM and withdraw 8000 MX $. You have to pay a fee from about 30 Pesos (about 2 USD). Other banks charge more. Banjercito charges only 18 Pesos but they have very few ATMs as far as I know.
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Ok, there's always an atm charge, I can live with that. Should one take both a credit card and debit card?
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How much currency do you keep on you? How would you hide it?
My plan was to just get enough currency to get me through the county than distribute it in various pockets and hide some on the bike. I know I'm making this way more complicated than what it is. |
I should have stated I'm leaving Portland and headed to Tierra Del Fuego in January.
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IMO, you need two credit cards and two debit cards. As sometimes one card will not work. Try to use debit cards that are on different networks. (see back of card)
Good to have hiding places for cash. Just be sure to remember where you've stashed it! I normally keep under $100 US in my wallet with more money hidden. Some use a "dummy wallet" as well. US Dollars cash should also be well hidden and saved for times when you cannot access cash via ATM or use credit card. Be sure to plan ahead at borders and either exchange or spend remaining cash from the country you are leaving. Be careful with money changers at the borders. They are very slick. develop a system and stay with it. January departure is good for all of Mexico and Cent. America. Dry season, cooler. You may get wet coming South from Portland. !Que le via muy bien! bier |
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Cops can locate hidden money fairly quickly. I can attest to that... |
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Be low key, blend in, try not to stand out. Be polite, S M I L E ... and try to speak Spanish, no matter how badly. Always say Buenos dias/tardes/noches to begin every conservation, request or reply. Politeness matters.
You may get the odd crooked transito cop (traffic) but mostly they will leave you alone if you look somewhat "respectable" and follow the rules best you can. :thumbup1: Federal Police are another matter. Generally speaking they leave tourists alone. Play your tourist role quietly, don't break the law ... you should be fine. :scooter: |
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