Canadian cruisers!!

[SensFan11]

With an infinity travel visa from TD can get a US dollar visa (no fees). No need to have Am address - it is just linked to your CDN TD visa.

 

True...I have one of those...but to get it, you need the TD all inclusive account, which includes both a C$ Infinity Visa and a US$ Visa, plus an account with unlimited transactions and other perks...for $30/month or with a minimum $5000 balance.

[ParRoo]

I have a TD Aeroplan Visa and book with a U.S. Travel agent with no issues.

 

If you get the pre loaded credit cards, check the fine print. Last year I had planned to use Amex ones that I received as a gift. Then I discovered there were exclusions, one of which were cruises.

[moopetguy]

Could you use your US cash to purchase a US money order at RBC and send it to your US agent by register mail?

 

Possibly -- this method isn't very quick, though. I think for a TA to confirm a booking at a certain price, they'd (rightfully) expect a deposit right away. Since the deposits are at least a few hundred dollars, if I decided to use my CAD credit cards for the deposit and send the full payment by money order (if they would accept it), I'd still be taking a sizable hit on the exchange rate.

 

How about getting a no fee TD US Visa card?

 

I checked TD's web site and it has a $39 USD annual fee. It might be waived if you are an existing TD customer with a certain level of status, account type, or combination of products.

[moopetguy]

At Walmart, Target and many other stores in the US I've seen prepaid credit cards offered for sale...and I once bought a $200 Amex to give as a gift. There's usually a fee associated with these cards - around $5-10.

 

Thanks, I will try to do some more research on what prepaid credit cards are available along with their restrictions (as alluded to below). I know there are fees with these cards, just as CAD prepaid credit cards do. Obviously I'd buy the appropriate denominations for cards (e.g. largest possible) to minimize the percentage of fees I'm paying.

 

I have a TD Aeroplan Visa and book with a U.S. Travel agent with no issues.

 

If you get the pre loaded credit cards, check the fine print. Last year I had planned to use Amex ones that I received as a gift. Then I discovered there were exclusions, one of which were cruises.

 

The TD Aeroplan Visa Infinite would have a $120 annual fee for me. I'm not an existing customer of TD. Also, your U.S. TA would either charge your Aeroplan Visa Infinite in USD (and Visa would apply their exchange rate and foreign transaction fee), or the TA would charge in CAD (with whatever their exchange rate is). In either situation it's not going to be as low as 1.10 CAD = 1.00 USD.

 

Thanks for the tip about the restrictions on some prepaid credit cards. I didn't realize they'd have restrictions such as "no cruises". That's weird...I wonder why? :confused:

[tinkertwo]

I'm considering making a booking with a U.S.-based TA (I have once previously). But, of course that means I need to pay in USD, over the phone, with a credit card.

 

For the itineraries I'm currently considering, I have sufficient USD currency in an RBC USD High Interest eSavings account (converted at a much better exchange rate than available now). But, I need some suggestions on how to transfer/load that into some USD prepaid credit card product.

 

I've done some research on my own so far but the products I've found either require a U.S. address or SSN (e.g. Amex Bluebird), or require you to deposit funds in CAD (e.g. Cash Passport), which obviously isn't what I want to do.

 

I don't make purchases in USD frequently, so getting a regular credit card in USD doesn't make sense because the ones I know about have annual fees (e.g. RBC's USD Visa card has a $65 USD annual fee). I also don't have any U.S.-based bank accounts or a U.S. mailing address.

 

This is why I am looking for a one-time, USD prepaid credit card solution.

 

eta- just checked and the fee is now $35. sorry.

 

Does anyone have any further suggestions I can look into? Thank you!

okay, just trying to help here but if its the wrong solution then sorry.....

I am going back to a u.s. cc. BMO's card has an annual fee of only $25 but if you charge to it a minimum of $1000 a year it is waived. I know you said you won't use it often but you never know and you will be saving a lot of money by making the purchase to a card and then paying it with the funds in your bank account. assuming your charge will be more than the $1000 this would be a solution you may want to consider.

again, I know you have said this will not work but I just wonder if a less expensive card may help.

Edited February 6, 2016 by tinkertwo

[moopetguy]

okay, just trying to help here but if its the wrong solution then sorry.....

I am going back to a u.s. cc. BMO's card has an annual fee of only $25 but if you charge to it a minimum of $1000 a year it is waived. I know you said you won't use it often but you never know and you will be saving a lot of money by making the purchase to a card and then paying it with the funds in your bank account. assuming your charge will be more than the $1000 this would be a solution you may want to consider.

again, I know you have said this will not work but I just wonder if a less expensive card may help.

 

Thanks for your input! It's worth thinking about if I do decide to go for a USD credit card after all. The fine print that seems to be common with the annual fee waivers is that you either need some status with the card-issuing bank (e.g. existing customer with a certain level of banking package and/or minimum balance, etc.) or if you spend beyond a certain threshold such as $1,000 with the BMO card, they waive the annual fee for the next year.

 

I realistically only have enough USD purchased at a low exchange rate to pay for one, maybe two cruises at most. So I wouldn't be keeping a USD credit card for more than a year or two.

 

Now, what I need to consider is whether taking the hit on my credit score by cancelling a USD credit card, perhaps after I've renewed my mortgage next year, is acceptable, and also compare the cost of paying a USD credit card's annual fee maybe just once (for the first year) is more or less expensive than paying the fees associated with purchasing likely multiple prepaid credit cards (I imagine the maximum denomation is maybe $250 or $500 each, so I'd need a few to several to pay off a cruise).

[Ourusualbeach]

Thanks for your input! It's worth thinking about if I do decide to go for a USD credit card after all. The fine print that seems to be common with the annual fee waivers is that you either need some status with the card-issuing bank (e.g. existing customer with a certain level of banking package and/or minimum balance, etc.) or if you spend beyond a certain threshold such as $1,000 with the BMO card, they waive the annual fee for the next year.

 

I realistically only have enough USD purchased at a low exchange rate to pay for one, maybe two cruises at most. So I wouldn't be keeping a USD credit card for more than a year or two.

 

Now, what I need to consider is whether taking the hit on my credit score by cancelling a USD credit card, perhaps after I've renewed my mortgage next year, is acceptable, and also compare the cost of paying a USD credit card's annual fee maybe just once (for the first year) is more or less expensive than paying the fees associated with purchasing likely multiple prepaid credit cards (I imagine the maximum denomation is maybe $250 or $500 each, so I'd need a few to several to pay off a cruise).

 

Unless your credit score is borderline there is no way that getting a credit card and cancelling it within a year is going to make enough of a difference in getting a mortgage renewal. We have churned though several cards a year to get various point offers and have never had an issue with a mortgage renewal.

[moopetguy]

Unless your credit score is borderline there is no way that getting a credit card and cancelling it within a year is going to make enough of a difference in getting a mortgage renewal. We have churned though several cards a year to get various point offers and have never had an issue with a mortgage renewal.

 

My credit score isn't borderline in terms of whether I can secure financing or not. I'll definitely have no problem renewing the mortgage (well, presuming my employment situation doesn't suddenly change ;)). My concern is whether I will be offered the best rate by competing lenders/brokers.

 

My understanding is that the best rates will only be offered to those with Beacon/FICO scores above 800. However, this could be wrong. The industry isn't exactly transparent with how it scores a debtor. Even when a lender tells you, "you have great credit, that's my best rate", I have my doubts as to the veracity of such a statement. There's usually still some wiggle room, especially if you can show them you got a matching or lower rate from elsewhere. They always seem to be able to take off another 5 or 10 basis points at a minimum.

 

I know that the average account age makes up a certain percentage of the score. I don't have many credit cards to begin with and I already picked up another card recently, so another new card will drag the average down further. Apart from the annual fees, that's why I'm concerned about getting a USD credit card and then cancelling it within a year -- there's a lingering effect of young accounts on the credit file.

[Funbobby68]

I did a bit of research on this whole US dollar credit card . And really unless your spending 3000.00 or so a year the annual fee would be about the same as the conversion rate on most Canadian credit cards at 2.5 % so unless you really plan on using it on a regular basis it not worth it IMO

[Cruise Junky]

I did a bit of research on this whole US dollar credit card . And really unless your spending 3000.00 or so a year the annual fee would be about the same as the conversion rate on most Canadian credit cards at 2.5 % so unless you really plan on using it on a regular basis it not worth it IMO

 

Plus add in the rewards or cash back from using your Canadian card and there's not much benefit.

[moopetguy]

I did a bit of research on this whole US dollar credit card . And really unless your spending 3000.00 or so a year the annual fee would be about the same as the conversion rate on most Canadian credit cards at 2.5 % so unless you really plan on using it on a regular basis it not worth it IMO

 

Thank you for taking the time to do that.

 

There are credit cards with no foreign exchange fees, such as the Chase Amazon.ca Rewards Visa (no annual fee, either).

 

But, the one-time circumstances I described are a bit different. I have USD currency exchanged at a low rate. If I do get a USD credit card, the idea would be to make my purchase/booking, and pay off the balance in full with the USD I have (not paying in CAD).

 

I've got no intention of keeping a USD credit card long-term as I don't normally cross-border shop, and my USD on hand won't last forever :) So one way or another I'll be subjected to the live exchange rate down the road -- whether it's when I pay off my USD credit card in CAD, or when I use my CAD credit card to pay for something in USD and get hit there. Either the bank hits me or the card issuer hits me at that point.

[Ourusualbeach]

My credit score isn't borderline in terms of whether I can secure financing or not. I'll definitely have no problem renewing the mortgage (well, presuming my employment situation doesn't suddenly change ;)). My concern is whether I will be offered the best rate by competing lenders/brokers.

 

My understanding is that the best rates will only be offered to those with Beacon/FICO scores above 800. However, this could be wrong. The industry isn't exactly transparent with how it scores a debtor. Even when a lender tells you, "you have great credit, that's my best rate", I have my doubts as to the veracity of such a statement. There's usually still some wiggle room, especially if you can show them you got a matching or lower rate from elsewhere. They always seem to be able to take off another 5 or 10 basis points at a minimum.

 

I know that the average account age makes up a certain percentage of the score. I don't have many credit cards to begin with and I already picked up another card recently, so another new card will drag the average down further. Apart from the annual fees, that's why I'm concerned about getting a USD credit card and then cancelling it within a year -- there's a lingering effect of young accounts on the credit file.

 

I know that when we have renewed I have had no problems in getting our bank to match whatever we could find offered by another financial instution, which was not one of the major chartered banks.

 

I'm not certain but I suspect that our banking system differs significantly in how much emphasis is placed on a few points as it can with the US banking system.

 

Why not have a casual conversation with your banker about the US card as that would certainly be the easiest way to go for what you need it for.

[moopetguy]

I know that when we have renewed I have had no problems in getting our bank to match whatever we could find offered by another financial instution, which was not one of the major chartered banks.

 

I'm not certain but I suspect that our banking system differs significantly in how much emphasis is placed on a few points as it can with the US banking system.

 

Why not have a casual conversation with your banker about the US card as that would certainly be the easiest way to go for what you need it for.

 

With RBC, I have generally had a very good relationship with them for a long time, except when it comes to the mortgage. There's a very long and ongoing story that's mostly irrelevant, except to say that the process of negotiating my first renewal was acrimonious and had to be escalated to the RBC Ombudsman. This was not the main sticking point, but they also didn't want to match rates at first (but eventually did), for whatever reason. My second (and final) renewal is the one that's coming up, and I'm anxious about how it'll unfold. So, I'm trying to avoid any activities that could affect my credit score, lest they have a reason to be jerks again.

 

You're absolutely right that a USD credit card would normally be the path of least resistance. I'd even take the hit on the annual fee because that would still be far cheaper than paying the current exchange rate in CAD, or the time/effort/cost in crossing the border to pick up prepaid cards. I guess I was hoping that somebody knew of a way to purchase USD prepaid cards in Canada (by paying in USD, not CAD) or some online service with a virtual prepaid card that I can load with USD, etc.

[Lizzzys]

CIBC is now offering no fee US (and other countries) money transfers. I received this ad in my inbox yesterday.

 

https://www.cibc.com/m/how-to-bank/foreign-exchange/global-money-transfer.html

 

 

Sent from my iPhone using Tapatalk

[moopetguy]

CIBC is now offering no fee US (and other countries) money transfers. I received this ad in my inbox yesterday.

 

https://www.cibc.com/m/how-to-bank/foreign-exchange/global-money-transfer.html

 

Thanks -- I'm not a CIBC customer and I didn't know about this service, but it sounds pretty neat. Though when I look at the site's FAQ, the United States is not listed as a country you can send money to...in fact, none of them list USD as a currency you can use to send.

[jonath]

Thanks -- I'm not a CIBC customer and I didn't know about this service, but it sounds pretty neat. Though when I look at the site's FAQ, the United States is not listed as a country you can send money to...in fact, none of them list USD as a currency you can use to send.

 

How about ZenBanx?

 

Manage Multiple Currencies From One Account

 

Your Zenbanx account allows you to hold and exchange multiple currencies.... No more time consuming bank visits. Access your currencies any time, day or night. Your money is ready for you when you need it.

 

Access Your Money from ATMs Worldwide

 

As a Zenbanx customer you receive a debit card to access your money from ATMs worldwide, or to purchase goods from stores worldwide. Best of all, it even lets you access different currencies from your account when traveling abroad. Now that's convenience.

 

 

 

It would require figuring out how to move your RBC USD over (maybe they can help), but then you get USD access for free.

 

I have a $10 bonus referral code if you are interested. https://zbc.zenbanx.ca/#raf/jhowey-1

Edited February 6, 2016 by jonath

[moopetguy]

How about ZenBanx?

 

It would require figuring out how to move your RBC USD over (maybe they can help), but then you get USD access for free.

 

Thank you for the referral offer, but I don't think ZenBanx will work for me...

 

"Currently, you can only deposit Canadian dollars from a Canadian Bank or Credit Union chequing or savings account that you hold in your name."

 

I'm also not sure if the average TA is amenable to an e-mail money transfer for payment instead of the traditional credit card approach...

[Lexy08]

I guess the amount that one buys would be non-refundable, whereas the TA's OBC is mostly refundable if not all used.

Thanks,

Jackie

[moopetguy]

I guess the amount that one buys would be non-refundable, whereas the TA's OBC is mostly refundable if not all used.

 

If you buy OBC through Gifts & Gear, it's definitely refundable (I have done this personally and gotten money from the casino and from Guest Services on the final day). It'd effectively be stealing your money if it weren't refundable...your credit card would have been charged but you would have received nothing in return.

 

I'm not sure about bonus OBC from a TA. I know some of the OBC that RCI gives you is non-refundable. At the same time, I think that the non-refundable OBC is applied on your SeaPass charges first, so I've never had any "non-refundable" OBC left over at the end (because this amount has always been less than what I've spent onboard).

[Clarea]

I guess the amount that one buys would be non-refundable, whereas the TA's OBC is mostly refundable if not all used.

Thanks,

Jackie

As mentioned above, purchased OBC is refundable.

 

Sometimes the TA OBC is purchased, so is refundable also. Sometimes the TA OBC is a perk the cruise line gives to group bookings, and in that case it's not refundable.

[#55worktoplay]

I'm looking under gifts and gear and don't see it??

[moopetguy]

I'm looking under gifts and gear and don't see it??

 

I suggest calling them at 800-722-5443. That's how I purchased my additional OBC. Make sure they e-mail you the confirmation receipt...don't let them off the phone until it arrives in your inbox :)

[bluemeansgo]

How much money we talking? 3% on 1000 is $30. Maybe just use Canadian cc

[moopetguy]

How much money we talking? 3% on 1000 is $30. Maybe just use Canadian cc

 

Is this in reply to my inquiry about a USD credit card (prepaid or otherwise)?

 

I'm talking about much more than a 3% difference. I have USD purchased at 1.10 CAD. Live USD->CAD rates on credit cards are probably around 1.41-1.45. So using a CAD credit card means paying a LOT more.

[hancogran]

Sorry, I don't see the savings.

An excursion I'm looking at is listed at is $105 US, and $150 Canadian.

If I purchase the excursion , for $150 Can , and get on board to cancel, I will be refunded $105 Us, and my bank will do a conversion whick would probably be very close to if the same as $150. No savings and a lot of hassle in my opinion.

 

Maybe I'm wrong but if you purchase an excursion and paid for it in Canadian, I'm pretty sure your credit card would be credited back in Canadian funds if you cancel. I agree..there's no savings and a lot of hassle.

 

We booked our next cruise last week while on board Oasis and put a deposit of $250 Canadian down. If for any reason we had to cancel, I am sure they'd credit back $250 Canadian. I would imagine excursions would be the same.