Transferwise (or others) to move just over $10k
#16
Forum Regular
Joined: Mar 2012
Posts: 78
Re: Transferwise (or others) to move just over $10k
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#17
Forum Regular
Joined: Dec 2016
Location: Ex North Carolina, now in Yorkshire
Posts: 96
Re: Transferwise (or others) to move just over $10k
Uhh, because most car rental companies allow debit card for car rentals if you have a plane ticket.
Also, paying for insurance on a credit card? That's a good reason?
Would take all of 10 minutes to apply for one and a couple days to receive one. Hardly worth keeping one open for an indefinite amount of time.
Just budget your return and have enough cash available up front. Hardly rocket science.
Also, paying for insurance on a credit card? That's a good reason?
Would take all of 10 minutes to apply for one and a couple days to receive one. Hardly worth keeping one open for an indefinite amount of time.
Just budget your return and have enough cash available up front. Hardly rocket science.
Since we never run a balance on a card, (as we all know that just increases the true cost out of all proportion), we find it very convenient to use a credit card and also collect the air miles, which makes it very attractive, particularly for larger purchases such as air fares and car rentals and insurance. You don’t get miles, as far as I know, with a debit card.
An example, we’ve just shipped a huge amount of luggage across the Atlantic and put the charge on our credit card, then paid the whole card off the next day and now we have a bunch of extra air miles to boot. That’s a win win situation for us and surely many other people who use their credit cards for their own convenience and not for the banks to rip you off with interest charges. Plus, using a credit card over a certain £/$ amount offers it’s own insurance protection, unlike a debit card.
What I didn’t know was that one could apply for one in 10 minutes and receive it within two days. Thanks for the heads up.
TM57
#18
Re: Transferwise (or others) to move just over $10k
I transfer in over $10k several times a year and do not submit any reports about the transfer to anyone in the US. Transferwise usually ask the source of the money at the UK end to which I list UK pensions.
#19
Re: Transferwise (or others) to move just over $10k
I keep a couple of UK credit cards, personally I think you are right it is a good idea, and will be until US cards use chip and pin. Try using a US credit card in an automatic ticket machine or petrol pump. Better still try explaining to someone in a UK store that you are an American and therefore it is an American credit card and doesn't have a pin, while speaking in a very clear London accent. I find a UK credit card very useful, plus you get all the protection of a credit card purchase which a debit card doesn't provide.
#20
Re: Transferwise (or others) to move just over $10k
I keep a couple of UK credit cards, personally I think you are right it is a good idea, and will be until US cards use chip and pin. Try using a US credit card in an automatic ticket machine or petrol pump. Better still try explaining to someone in a UK store that you are an American and therefore it is an American credit card and doesn't have a pin, while speaking in a very clear London accent. I find a UK credit card very useful, plus you get all the protection of a credit card purchase which a debit card doesn't provide.
Anti fraud measures have come a long way and so the credit card only protection is a thing of the past.
My US debit has chip and pin.
#21
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Joined: Feb 2015
Location: New Jersey, USA
Posts: 564
Re: Transferwise (or others) to move just over $10k
I keep a couple of UK credit cards, personally I think you are right it is a good idea, and will be until US cards use chip and pin. Try using a US credit card in an automatic ticket machine or petrol pump. Better still try explaining to someone in a UK store that you are an American and therefore it is an American credit card and doesn't have a pin, while speaking in a very clear London accent. I find a UK credit card very useful, plus you get all the protection of a credit card purchase which a debit card doesn't provide.
Personally I always use my US cards when back in the UK (no foreign transaction fees and better rewards) and never really have a problem, especially now most places accept contactless so you can just use Apple Pay to avoid the signature awkwardness.
Asda pay at pump accepts US cards, admittedly with a max fill of £40 with a Visa card which isn't much use but Amex cards let you put £99 in. Tesco doesn't work though. I've paid for parking a few times and certainly with my Chase Sapphire Reserve the machine just doesn't ask for a PIN and approves the transaction.
Last edited by Olly_; Apr 4th 2018 at 1:18 am.
#22
Re: Transferwise (or others) to move just over $10k
I have a few UK credit cards open still with my US address on file - it's not going to do any harm so why close them if they have no annual fee?
Personally I always use my US cards when back in the UK (no foreign transaction fees and better rewards) and never really have a problem, especially now most places accept contactless so you can just use Apple Pay to avoid the signature awkwardness.
Asda pay at pump accepts US cards, admittedly with a max fill of £40 with a Visa card which isn't much use but Amex cards let you put £99 in. Tesco doesn't work though. I've paid for parking a few times and certainly with my Chase Sapphire Reserve the machine just doesn't ask for a PIN and approves the transaction.
Personally I always use my US cards when back in the UK (no foreign transaction fees and better rewards) and never really have a problem, especially now most places accept contactless so you can just use Apple Pay to avoid the signature awkwardness.
Asda pay at pump accepts US cards, admittedly with a max fill of £40 with a Visa card which isn't much use but Amex cards let you put £99 in. Tesco doesn't work though. I've paid for parking a few times and certainly with my Chase Sapphire Reserve the machine just doesn't ask for a PIN and approves the transaction.
Appreciate the comment about the Sapphire Reserve, that is the one I've had trouble in ticket machines in the past. I'll find something to try it in and see what happens. Always useful to have a working back up in case the UK cards don't get reissued for any reason.
#23
Forum Regular
Joined: Dec 2016
Location: Ex North Carolina, now in Yorkshire
Posts: 96
Re: Transferwise (or others) to move just over $10k
I keep a couple of UK credit cards, personally I think you are right it is a good idea, and will be until US cards use chip and pin. Try using a US credit card in an automatic ticket machine or petrol pump. Better still try explaining to someone in a UK store that you are an American and therefore it is an American credit card and doesn't have a pin, while speaking in a very clear London accent. I find a UK credit card very useful, plus you get all the protection of a credit card purchase which a debit card doesn't provide.
#24
BE Enthusiast
Joined: Jan 2017
Posts: 670
Re: Transferwise (or others) to move just over $10k
I keep a couple of U.K. credit cards too. Great idea. Also if you get a multicurrency with no fee you can essentially use it to transfer money from U.K. to US by spending £ as $ and it’s even better than transferwise (who I do use for bulk transfers).
Super handy for trips back to Europe also
Super handy for trips back to Europe also
Last edited by LouisB; Apr 5th 2018 at 12:07 am.
#25
Re: Transferwise (or others) to move just over $10k
Maybe I'm just more of a debit card guy it seems.
#26
BE Enthusiast
Joined: Jan 2017
Posts: 670
Re: Transferwise (or others) to move just over $10k
I use them that way, credit not needed, it’s more the features, benefits and versatility that attracts me. Nothing to be afraid of, when used sensibly...
If issued from U.K. chip and pin has been standard for literally years. Air miles and cash back are great. Plus I get extended warrantee with some. Win-win.
And, keeps your credit history good for when it might matter...
If issued from U.K. chip and pin has been standard for literally years. Air miles and cash back are great. Plus I get extended warrantee with some. Win-win.
And, keeps your credit history good for when it might matter...
Last edited by LouisB; Apr 5th 2018 at 12:07 am.