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

[hummel]

Has anyone uses this card in Rome, Italy? Arrived today and out of the 3 ATMs I tried only one gave e cash.. But it says it was a cash advance. The others said I could not use for international withdraws.

Any thoughts? Have been using for the last few weeks across Europe with hassle. Is their certain ATMs I should be looking up for?

 

[MEL_Traveller]

Has anyone uses this card in Rome, Italy? Arrived today and out of the 3 ATMs I tried only one gave e cash.. But it says it was a cash advance. The others said I could not use for international withdraws.

Any thoughts? Have been using for the last few weeks across Europe with hassle. Is their certain ATMs I should be looking up for?

can't help you on the preferred ATM to use, but saying it was a cash advance is correct.

 

[serfty]

Used 28deg in Rome ATM's 2 years ago without issue - just did "cash advance" IIRC.

 

[moa999]

Interesting "Survey" from 28Degrees today.
Chance to win an ipad took about 10 minutes.

Thrust of survey was running through cards that had various elements of
- Call centre fee
- International ATM fee
- Transaction fee (1%)
- Credit fee - fee if card >$100 in credit
In almost all scenarios I suggested I was likely to close or reduce usage of the card.

Also some questions around lounge access, interest free on big puchases - for fees.

Given the focus of this card is international travellers, or shoppers - I would think, particularly with the Amex changes, that they would do well with a Travel insurance attachment.

 

[Danger]

The simplicity of this card is a big plus for me. I've got other cards for travel insurance and the like. Keep it simple and keep your customers. If GE Money must, introduce another card with these features but I really hope they just leave this one alone.

Thrust of survey was running through cards that had various elements of
- Call centre fee
- International ATM fee
- Transaction fee (1%)
- Credit fee - fee if card >$100 in credit
In almost all scenarios I suggested I was likely to close or reduce usage of the card.

The introduction of even just one of these points would probably see me cancel.

 

[rweir]

The simplicity of this card is a big plus for me. I've got other cards for travel insurance and the like. Keep it simple and keep your customers. If GE Money must, introduce another card with these features but I really hope they just leave this one alone.
The introduction of even just one of these points would probably see me cancel.

It is hard to believe they'd leave it as cheap (in terms of annual fee, transaction fees and exchange rates) as it is while adding any other features, so ditto - really rather they don't fiddle with it and make it more expensive and instead release a new product.

 

[Cynicor]

Call centre fee or annual fee I could bear, depending on the price. If I put through ~30k of travel/foreign purchases a year I could tolerate around a $100 or $200 fee max, depending on future planned expenditure. I could see my family have a few more supp cards and a few less accounts and a bit of an honour system thing going...

 

[DeKa]

Maybe more people should stop using this card for cash advances after loading with cash, and use this one for purchases and Citibank Plus for cash...

 

[ashleyn]

Has anyone uses this card in Rome, Italy? Arrived today and out of the 3 ATMs I tried only one gave e cash.. But it says it was a cash advance. The others said I could not use for international withdraws.

Any thoughts? Have been using for the last few weeks across Europe with hassle. Is their certain ATMs I should be looking up for?

No problem with Cash advance last week, I stick to ATM's that have Cirrus or Mastercard stickers.

 

[Chicken]

The introduction of even just one of these points would probably see me cancel.

And what are you going to use? I haven't found any other card with no annual and no forex commission.

It is hard to believe they'd leave it as cheap (in terms of annual fee, transaction fees and exchange rates)

It's a credit card. People are supposed to use it for purchases, and GE make money from interchange fees from purchase transactions; except it seems everyone is using it as an ATM card.

Maybe more people should stop using this card for cash advances after loading with cash, and use this one for purchases and Citibank Plus for cash...

That's what I've suggested previously. The margin is very very slim on the way this card is marketed, hence I previously mentioned that people should make a few purchase transactions with their card, allowing GE to make some money and keep this scheme going.

Instead, it seems human nature is greedy, and most people use it as an ATM card, basically scammed GE with the scheme. Do people really think GE is going to be a charity and run this with pointless level of profit?

So the party is now ruined. *sigh*

 

[kpc]

So the party is now ruined. *sigh*

I fail to see how you reached this conclusion...

Maybe more people should stop using this card for cash advances after loading with cash, and use this one for purchases and Citibank Plus for cash...

Interesting thought; as posted below...

I just received an offer to open a Citibank Plus account, and if I deposit $3000 for 2 consecutive months, I will receive 10000 reward points. Sounds like a no brainer for me; and it will be a good backup for the 28 degrees Master card. It is a targetted offer which I need to take up by 31st July.

I signed up for the Citibank Plus account tonite to use as a back up...+ for the 10000 bonus reward pts, of course

 

[cove]

My survey stopped as soon as I put in a family member's occupation.
We use the card in London as both a credit and cash card to be fair to GE. Using Citi Select produces a ton of points but at a cost of about a true 1 cent per kris point.

 

[Chicken]

I fail to see how you reached this conclusion...

Every question in that survey (yes, I did it too), is fee, fee, fee, more fees.

I don't mean a random fee hidden here and there, but it's just fees everywhere in bold.

One of the fees is called account in credit fee, where you pay this fee when your account is over $100 in credit.

So, they are thinking of putting a stop to people using it as an ATM card.

 

[cove]

kpc that is a really excellent offer from Citi.
Enjoy those points.....try to get at least 5 cents retail value out of them and that makes a $500 note....very nice.
I must read all of Citi's communications thoroughly.

 

[MEL_Traveller]

Every question in that survey (yes, I did it too), is fee, fee, fee, more fees.

I don't mean a random fee hidden here and there, but it's just fees everywhere in bold.

One of the fees is called account in credit fee, where you pay this fee when your account is over $100 in credit.

So, they are thinking of putting a stop to people using it as an ATM card.

westpac earth did the same thing... was completely fee free for a couple years then they decided to do the money grab and start with all the usual foreign fees and charges.

however - out of all the options, charging to have the card in credit is the best option as it is easily worked around for minimal cost. In fact if this charge was introduced it would more than likely save card holders money.

 

[rweir]

charging to have the card in credit is the best option as it is easily worked around for minimal cost. In fact if this charge was introduced it would more than likely save card holders money.

how do you figure?

 

[serfty]

how do you figure?

See MEL_traveller's posts up thread.

 

[Chicken]

charging to have the card in credit is the best option as it is easily worked around for minimal cost. In fact if this charge was introduced it would more than likely save card holders money.

???

Did you read my post?

If you put money into your card, so that your credit card is in credit, GE will charge you a fee.

So your suggestion only costs money, not saves money.

 

[serfty]

???

...

I think you have misunderstood that post.

MEL_traveler's technique is NOT to put the account into credit.

Take the advice I gave rwier & look up thread. (I don't have the opportunity to search myself at the moment.)



Posted on a wing and a prayer ...

 

[Cynicor]

In brief, it's keeping the account in debt, making withdrawals and paying tem off by bpay same day. By bpay and the 28 degree terms, your account gets paid the same day and the cash advance is paid off first.

And not all of the options were high fees. The annual fee with no ATM, forex or credit fee option were the only options where I said I was likely to keep the card. All others I said I would close it.