www.CostaRicaTicas.com :: View topic - Credit card for colones

Any opinions on using a Visa Credit card to get colones at a favorable exchange?
I have chase united visa that helps me accrue miles with united and star alliance. I usually come down with cash and usually pay the Chickas, bar tabs and restaurant checks in dollars and get the colones as walking around currency for cabs... Snacks .. Etc.... Occasionally I'll go to the scotia bank ATMs to get dollars. Doing so is about a 10-15 $ fee

I do t get charges an foreign transaction fee on the card, and I'd like to start using it more...
Is it possible to get colones at the current exchange rate with a visa? I see the money changers in the airport with signs for visa etc...

Just wondering if anyone has done this

APR percentage is a moot point as the goals would be to pay the bill ASAP

the fees and united miles acrual is more important..

Schwab sounds like a good deal though... I can get similar from USAA... how is Schwabs exchage rate?

any other input on using a VISA?

Daddy123 wrote:

Interest starts accruing immediately (not the usual 30 days) and I don't believe cash advances qualify for miles..

From my experience, the Schwab exchange is the same if not better than that day's XE rate.

Author:	Col Ingus [ Mon Apr 14, 2014 1:19 am ]
Post subject:	Credit card for colones
Any opinions on using a Visa Credit card to get colones at a favorable exchange? I have chase united visa that helps me accrue miles with united and star alliance. I usually come down with cash and usually pay the Chickas, bar tabs and restaurant checks in dollars and get the colones as walking around currency for cabs... Snacks .. Etc.... Occasionally I'll go to the scotia bank ATMs to get dollars. Doing so is about a 10-15 $ fee I do t get charges an foreign transaction fee on the card, and I'd like to start using it more... Is it possible to get colones at the current exchange rate with a visa? I see the money changers in the airport with signs for visa etc... Just wondering if anyone has done this

Author:	Rac [ Mon Apr 14, 2014 7:59 am ]
Post subject:	Re: Credit card for colones
I posted this a few days ago in a thread about INTERNATIONAL EXCHANGE RATES. Look for that thread here on CRT. ========================================== I never bring very much cash into CR. I simply use a Schwab ATM card to withdraw colones from my Schwab Bank account. Schwab has NO fees for the having or using the card. There is no minimum activity level and no minimum balance requirement at Schwab. I make a mail-deposit into my Schwab bank account before I depart for CR. Schwab will refund any other fees that any other bank charges me to use my Schwab ATM card. In CR, the Bank of Costa Rica (BCR) does not apply any ATM fee for using their machines, even if I use a non-BCR card. The exchange rate that Schwab uses for ATM transactions is fair. I've checked it on a few transactions for the exact hour of the transaction, and found it to be fair. I have no relationship or connection with Schwab other than this easy-to-use ATM card.

Author:	Hioctane [ Mon Apr 14, 2014 1:40 pm ]
Post subject:	Re: Credit card for colones
Daddy123 wrote: Any opinions on using a Visa Credit card to get colones at a favorable exchange? I have chase united visa that helps me accrue miles with united and star alliance. I usually come down with cash and usually pay the Chickas, bar tabs and restaurant checks in dollars and get the colones as walking around currency for cabs... Snacks .. Etc.... Occasionally I'll go to the scotia bank ATMs to get dollars. Doing so is about a 10-15 $ fee I do t get charges an foreign transaction fee on the card, and I'd like to start using it more... Is it possible to get colones at the current exchange rate with a visa? I see the money changers in the airport with signs for visa etc... Just wondering if anyone has done this This will almost certainly be considered a cash advance which will be around 20% APR interest starting on the day you pull it out. The best way is, as Rac says, and open a Schwab account if you are from the US.

Author:	pchef2001 [ Mon Apr 14, 2014 2:57 pm ]
Post subject:	Re: Credit card for colones
Where are there Schwab ATMs in SJ?

Author:	Rac [ Mon Apr 14, 2014 3:32 pm ]
Post subject:	Re: Credit card for colones
You can use a Schwab ATM debit card at any ATM anywhere in the world. If the ATM owner (bank, bar, hotel, casino, airport, etc.) imposes any fee for using the Schwab card, Schwab will credit your account at the end of the month for that fee. Schwab, itself, imposes NO fee for using their debit card. In CR, the Bank of Costa Rica BCR does not impose any fee for using a non-BCR ATM card. The Schwab debit ATM card is FREE to use anywhere in the world. The currency conversion is a fair rate if you withdraw local (non-U.S.) money. I like my Schwab ATM card. If you want one, send a PM to me, and I'll tell you how to do it on the internet. I'll say again.......I have no connection with Schwab except for my ATM card and the related Schwab Bank account.

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Author:	pchef2001 [ Mon Apr 14, 2014 3:34 pm ]
Post subject:	Re: Credit card for colones
Thank you for the feedback

Author:	Col Ingus [ Mon Apr 14, 2014 4:50 pm ]
Post subject:	Re: Credit card for colones
APR percentage is a moot point as the goals would be to pay the bill ASAP the fees and united miles acrual is more important.. Schwab sounds like a good deal though... I can get similar from USAA... how is Schwabs exchage rate? any other input on using a VISA?

Author:	Hioctane [ Mon Apr 14, 2014 6:22 pm ]
Post subject:	Re: Credit card for colones
Daddy123 wrote: APR percentage is a moot point as the goals would be to pay the bill ASAP the fees and united miles acrual is more important.. Schwab sounds like a good deal though... I can get similar from USAA... how is Schwabs exchage rate? any other input on using a VISA? Interest starts accruing immediately (not the usual 30 days) and I don't believe cash advances qualify for miles.. From my experience, the Schwab exchange is the same if not better than that day's XE rate.

Author:	Rac [ Mon Apr 14, 2014 10:05 pm ]
Post subject:	Re: Credit card for colones
+1 on the exchange rate.

Author:	Col Ingus [ Wed Apr 16, 2014 5:14 am ]
Post subject:	Re: Credit card for colones
Hioctane wrote: Daddy123 wrote: APR percentage is a moot point as the goals would be to pay the bill ASAP the fees and united miles acrual is more important.. Schwab sounds like a good deal though... I can get similar from USAA... how is Schwabs exchage rate? any other input on using a VISA? Interest starts accruing immediately (not the usual 30 days) and I don't believe cash advances qualify for miles.. From my experience, the Schwab exchange is the same if not better than that day's XE rate. Thanks....def will look into things

Author:	Baqueta [ Thu Apr 17, 2014 1:56 pm ]
Post subject:	Re: Credit card for colones
Cash advances do not accrue mileage. PLUS besides they tack on a $10.00 or 5% percent of the transaction fee plus a higher APR than normal purchases. Use a debit card for pulling from ATMs in CR.

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