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

[moa999]

Have discovered similar in terms of timing = if you pay off before the withdrawal is processed you pay off the purchase not the cash advance.

My strategy when traveling is now to put everything on the card, and when i withdraw cash top-up 3 days later.
The cash advance is paid off first so finance charges minimised.

Versus alternatives still way in front anyway.

 

[Shanye2233]

im in croatia and went into the atm with the mastercard logo it asked me before processing a option either to proceed with conversion rate of 500kuna to 90AUD or proceed without conversaion rate . Whats the difference and whats the better option . I choose without the convrsaion rate.

 

[travelislife]

im in croatia and went into the atm with the mastercard logo it asked me before processing a option either to proceed with conversion rate of 500kuna to 90AUD or proceed without conversaion rate . Whats the difference and whats the better option . I choose without the convrsaion rate.

Yep you picked the better option. Xe.com is stating 5.82 to the dollar, which is more than the 5.55 you would have got if you had taken the option you stated above.

 

[MEL_Traveller]

im in croatia and went into the atm with the mastercard logo it asked me before processing a option either to proceed with conversion rate of 500kuna to 90AUD or proceed without conversaion rate . Whats the difference and whats the better option . I choose without the convrsaion rate.

always ask to be billed in the local currency and NOT AUD

If they convert to AUD for you you will 99.9 times end up with a bad conversion rate.

 

[Alanslegal]

Im still searching for flights out of BKK to CDG on the 19th not keen on goin to CAI with this new Islamic gov.

im in croatia and went into the atm with the mastercard logo it asked me before processing a option either to proceed with conversion rate of 500kuna to 90AUD or proceed without conversaion rate . Whats the difference and whats the better option . I choose without the convrsaion rate.

Even with an islamic government - which I have no issues with - you made it to your destination

Would have been super if you could stop by and at least have a climb of the Great Pyramids. I did skip/chicken out on the camel ride though

 

[smit0847]

Sorry if this isn't the right thread for this - I tried searching.

I've just been approved for a 28 Degrees card with a $2,000 limit (I asked for no more than $10K limit). I'm surprised how low the limit is considering both Citibank and AMEX have both insisted on doubling my credit limit in the past 6 months (I have an excellent credit rating - 0 debt and a good job). Is this normal for the limit to be so low? Is it worth asking for an increase? I can pre-load (presumably only my credit limit?) but was hoping for a 5 - 6K limit.

What happens if my card is stolen/lost/skimmed when I've pre-loaded - do I lose my own money but not any credit?

Thanks

 

[Cynicor]

Low limit is a common complaint with this card, and it can take a while to build it up. I think 6-monthly is the general time frame to request an increase in limit.

I'm uncertain as to the pre-loading. People seem to think the money is not protected but I think it would be under the T+Cs. I have not done a search to confirm this, maybe others can help.

 

[beardoc]

Sorry if this isn't the right thread for this - I tried searching.

I've just been approved for a 28 Degrees card with a $2,000 limit (I asked for no more than $10K limit). I'm surprised how low the limit is considering both Citibank and AMEX have both insisted on doubling my credit limit in the past 6 months (I have an excellent credit rating - 0 debt and a good job). Is this normal for the limit to be so low? Is it worth asking for an increase? I can pre-load (presumably only my credit limit?) but was hoping for a 5 - 6K limit.

What happens if my card is stolen/lost/skimmed when I've pre-loaded - do I lose my own money but not any credit?

Thanks

In my experience they will bombard you with pre-approved increases in limit as you use the card. Now you have to opt in to limit increase offers, but if you do, I imagine it wouldn't be long before you have a higher limit.

 

[rweir]

The cash advance is paid off first so finance charges minimised.

Versus alternatives still way in front anyway.

eh? citibank plus transaction is free and means you won't pay any finance fees. bankwest platinum has no forex fees either.

 

[Baysider]

sounds like the $330 may have come off first, then the $74. So you would have been paying interest on the cash advance. Transactions are only posted M-F, so weekends will show during the week.

Agree, have seen this.

 

[Cynicor]

eh? citibank plus transaction is free and means you won't pay any finance fees. bankwest platinum has no forex fees either.

I have seen this written a lot over in whirlpool. Does it mean what they think it means, or is the exchange rate poorer and the forex commission is just build in.

Anyone have any real life transactions from it?

 

[Baysider]

I have seen this written a lot over in whirlpool. Does it mean what they think it means, or is the exchange rate poorer and the forex commission is just build in.

Anyone have any real life transactions from it?

I have heard that the conversions are similar to 28 Degree

 

[serfty]

There are comparisons up-thread and elsewhere between Citibank Plus and 28° - generally 28° gives up to a 1% better forex rate.

Citibank Plus is way better for Forex Cash than most of the Oz based products out there and some might perceive that not being a credit card is an advantage. However it is slightly behind the 28° in rates.

While the Bankwest product has no specific fee for Forex transactions, there is still a significant arbitrage built in to the rate - e.g. today Bankwest would give you USD96.0¢ for AUD100¢. At the current cross rate the 28° would give around USD98.2¢.

Bankwest - foreign exchange rates

 

[moa999]

So if you're just BankWest Classic/ Gold you end up at a bad rate (+2%) plus another FX fee (2.95% for Classic,Gold) --- ouch

 

[Chicken]

Anyone have any real life transactions from it?

Start reading from this post downwards.

 

[Cynicor]

Sorry, I should have been more specific- I was talking about the bank west card, I am relatively full bottle in the citibank rates, thanks.

As I suspected, (thanks Serfty) Bankwest build their bit into the rate offered. Poor form really.

 

[oz_mark]

While the Bankwest product has no specific fee for Forex transactions, there is still a significant arbitrage built in to the rate - e.g. today Bankwest would give you USD96.0¢ for AUD100¢. At the current cross rate the 28° would give around USD98.2¢.

Bankwest - foreign exchange rates

Conversion to Australian currency is done by the scheme (Mastercard for most current bankwest cards), not by Bankwest. Given that, I would expect it to be in line with the GE cards.

 

[Flashback]

Just tried this on my recent trip to Australia and had no issues using it, even got a rate of 1:1 :mrgreen:

 

[Must...Fly!]

Argh, 28 degrees/GE Money diong it to me again

Purchase Deutsche Bahn tickets to the value of 180EUR - no problem sir!

Then try purchase tickets through TGV-Europe and Eurostar - NO SIR THAT'S NOT ALLOWED

3 hours later attempt purchase of more tickets from Deutsche Bahn to value of 150EUR - NO SIR, THAT'S NOT ALLOWED

End result: Those were the last two tickets in low-fare first inventory, and what I tried to book has not been returned - so now I have to pay an extra 43EUR. When I finally can pay, that is.

I'm getting pretty damn sick of this card.

 

[serfty]

Hey - it's cheap!

I rarely use my 28degree for anything other than overseas cash advances - and always have a backup even when doing that.