28° Mastercard Cash Advances while overseas [No more free cash advances from 1/1/14]

[Gulliver]

I've given a Wizard card to my daughter to use in US, and she's using it for ATM withdrawals well as credit transactions, without incident. (She didn't have to search for any specific ATM or anything. Maybe she just got lucky??)

I try to keep the account in debit when she needs to withdraw cash, so doesn't seem to be any issues with doing that. (Though it's hard to keep it that way with the incoming transactions )

But if the card has been activated, and the verification process done (ie a doctor etc witnessing your signature) (in lieu of 100 point check) so account doesn't get frozen), I don't know any reason why there should be any troubles.
(That theory doesn't help those having hassles hey!)

 

[aspro2]

Has anyone used there Wizard Mastercard for cash adavances in France...particularly away from Paris.

I've had no probs in France.

Canada/Quebec on the other hand was quite difficult -- relatively few MC/Maestro/Cirrus ATMs.

 

[lovetravellingoz]

Thanks for the quick replies.

I will put in for one then as she is off in 6 weeks.

I can geta free Citibank for her off my free for life gold...so will get that for purcahses for her...and the Wizard for cash...to utilise its no fee status.

Thanks.

 

[Gulliver]

Wizard also has no FX fee, so we're using Wizard for ALL international trans.
What does CitiBank charge? I assumed it would be more than the FF points are worth??

 

[NM]

Wizard also has no FX fee, so we're using Wizard for ALL international trans.
What does CitiBank charge? I assumed it would be more than the FF points are worth??

Citibank Readicredit has no fees for ATM withdrawals, but they have recently added a foreign exchange transaction fee of around 2% (can't remember exact amount) which has made it far less attractive for overseas Cash withdrawals than in the past.

 

[bobsi18]

Hi there all... Just found this lovely forum I've just applied for a Wizard CC after finding out about it on searches. Previously, when overseas, I always used my Commonwealth eftpos card to get money (at $5 a withdrawl!). Never used my cc, because of the high fees. Have just found this card, but still a little confused, can someone clarify?

- there are no fees for an international/with Australia cash advance, right?

- is interest charged straight away on these cash advances (like a standard cc) or do you get an interest free period? I just re-read the website and saw that it does get charged straight away...

- if I were to put the card into credit by adding extra money, and then do a cash advance, would I be charged interest?

Hope this makes sense, very excited to have found a decent card!

Cheers

 

[Gulliver]

- there are no fees for an international/with Australia cash advance, right?

Right

- if I were to put the card into credit by adding extra money, and then do a cash advance, would I be charged interest?

No.
So long as you keep from ever having a +ve balance owing, you won't pay interest. Nor fees. Nor FX penalties.

The only problem for me is that I can't take advantage of 55 days interest free on credit purchases if I'm doing this.
(Everytime I want to withdraw cash, I have to pay off full balance plus amount withdrawing.)

Instead of getting an additional card for my wife, she's applied for her own.
We should be able to use one for purchases and the other for cash.

If only it accumulated FF points too.

 

[bobsi18]

Fantastic. Thanks for the reply. I've also just applied for a Virgin CC - Was thinking that whilst overseas I'll only use the Wizard (I don't mind missing out on the interest free days while travelling, it's easier to keep track of it all if it's my own money) and when back in Aus I'll use the Virgin (to take advantage of their points system and interest free days).

edit: did my own research again, should do that before I post!!

 

[Gulliver]

...when back in Aus I'll use the Virgin (to take advantage of their points system and interest free days).

What is Virgin costing you? Did you know that Citibank Gold is currently free for life, and pays 1 FF point per dollar spent?
I've heard that thier service sucks, but the only issue I have is they seem to treat every call like a telemarketing opportunity - they won't do as you ask until they've done thier sales speil.
But I'm cheap, and happy to live with poor service to save money

If you're interested, check out the thread re Ezy MasterCard being withdrawn.

 

[bobsi18]

What is Virgin costing you?

free...

Did you know that Citibank Gold is currently free for life, and pays 1 FF point per dollar spent?

unfortunatly i'm not anywhere near getting a gold card, don't earn anywhere near enough - i'm just a uni student with high hopes

I currently have a card with Commonwealth, and it's free (i.e. no annual fee) - but that's as a student, and my student card expires next year... Not interested in paying the fees associated, as I don't use the card nearly enough to warrant it.

 

[moa999]

What limits has Wizard given everyone.

I was only given a $1,500 limit (despite having $17k on my Plat Amex Credit).
Not that it overly matters - but can blow out $1,500 pretty quickly if putting it into credit (and not using the cash-out feature)

 

[skywalka]

What limits has Wizard given everyone.

I was only given a $1,500 limit (despite having $17k on my Plat Amex Credit).
Not that it overly matters - but can blow out $1,500 pretty quickly if putting it into credit (and not using the cash-out feature)

GE Money manage the Wizard card.

When I wanted to increase the, uselessly low, limit on my, new, Coles Myer Source Mastercard I tried using the online application. Declined. So, I rang their support & got someone in India. They probably just used the same method as their online form to decline me.

Still not satisfied I trawled through their site & on this page: GE Money Contact Details Personal Loans, Credit Cards, Motor Loans, CareCredit and Insurance, if you look carefully you will see a contact email address. I fired off an email & got a call the next day. The guy who called was in Australia & very helpful. They would match a credit limit that I already had with a rival card as long as I could prove my account was in good standing.

 

[bits]

I have a Wizard Mastercard with a credit limit of $1250. Last week I put my card $3000 into credit (for the purpose of withdrawing cash from ATMs fee free).

Last Fri 9/3/07 I withdrew $1000 from ATM - no problems.
Then Mon 12/3/07 I withdrew $1000 from ATM - no problems.
Today Wed 14/3/07 I try to withdraw $1000 from ATM - however, problem occurs now as the ATM says insufficient funds (this is not the case as the account is still in credit by $1469).

I call the service centre and they offer the following explanation:
They say that as my credit limit is only $1250 the system will only allow me to withdraw a maximum $1000 from ATMs per statement. Apparently a monthly statement was sent out on 9/3/07, and as I have already withdrawn $1000 this cycle on 12/3/07, I would have to wait until next month to withdraw the remaining cash. However, I am still able to use the credit for purchases.

If the system is set up like that, doesn't it sound a bit stupid?

 

[adrian]

I wondered if there would be some kind of limit. That makes sense (for them), and is good to know for future reference.

I used mine earlier this month in South America - found it great to use, as I was able to withdraw small amounts when I needed them, rather than bigger transactions, and get stuck with left-over cash at the airport. I probably used it 7 or 8 times, and only had problem with one ATM.

I have a $3k limit, plus I put $1k on the card before I left. I only spent/withdrew about $700, so didn't get to test the $1k withdrawal per statement theory.

 

[lovetravellingoz]

II call the service centre and they offer the following explanation:
They say that as my credit limit is only $1250 the system will only allow me to withdraw a maximum $1000 from ATMs per statement.

???? mmm is the $1000 because of your $1250 limit.......or because it is a blanket $1000...for all cards per statement???


I am off to Bali soon....and as fraud is rife intend to minimise use of CCs and basically pay for everything with cash.....

I had been intending to use the Wiard Card for this as it is fee free...but $1000 would not go far over two weeks. so your post ceratainly grabbed my attention!!!!


My daughter had used the Card in France....but she only withdrew hundres.

 

[lovetravellingoz]

On the Wizard site it says amongst frequent questions

How much cash can I withdraw on my Wizard Clear Advantage card?
If you're withdrawing from an ATM, you're limited to $1,000 per day (and for over the counter withdrawals, $3,000 per day) for security reasons.


No mention there of a per statement limit?????

 

[bits]

I know the website FAQ says $1000 per day can be taken from an ATM. Therefore I am assuming the explanation I was provided means that the max $1000 withdrawal per cycle limit applies to my actual credit limit of $1250 and that it is not a blanket limit for everyone.

If this is the case, I suggest those who want it use the card overseas for large ATM withdrawals actually apply for a credit limit increase before leaving Australia.

I'd like to clarify this but the website doesn't post the credit card PDS, so I'll have to dig up my hard copy. Also, I'm not very impressed by the way the explanation was given by the customer service rep, she seemed to have to constantly put me on hold to clarify everything with her supervisor and then when she told me the explanation she seemed to be reading from a prepared response.

 

[kpc]

- if I were to put the card into credit by adding extra money, and then do a cash advance, would I be charged interest?

NO!!!...that's the great thing...I have now used the card in NZ, Malaysia, Singapore and Germany. I put money in prior to going OS, and use it like a debit card whilst overseas. It gives excellent exchange rates with no fees

 

[adrian]

NO!!!...that's the great thing...I have now used the card in NZ, Malaysia, Singapore and Germany. I put money in prior to going OS, and use it like a debit card whilst overseas. It gives excellent exchange rates with no fees

Same here - and it really has been that much better than anything else I have used in recent years. But I do need to sort out how much I can withdraw per day (or per cycle!!!!!)

 

[lovetravellingoz]

I
If this is the case, I suggest those who want it use the card overseas for large ATM withdrawals actually apply for a credit limit increase before leaving Australia.
.

My limit is currently $4000 which is fine for my cash advance requirements...as long as some lower per cycle limit does not come into play.