credit or debit card abroad?

[filthiestfis]

When taking money out abroad using an ATM does it work out cheaper to use a credit card (Visa is mine) or a Debit card?

[JonnoGenie]

Debit card!

[campbellking]

If you use a credit card in a cash machine, it will be treated as a cash advance, and you will be charged extra. Therefore, if you have the funds available, is cheaper to use a debit card.

[vehelpfulguy]

Agree with answers above.

But it is important to understand the difference between a credit card and a debit card.

A debit card is a bit like a cheque. It is directly linked to your bank account. If you pay by debit card then the money comes out of your account straight away.

If you do not have the money in your account you cannot use a debit card.

With a credit card you are being LENT the money by Visa to buy an item. So if you buy an item in a shop with a credit card it is NOT YOU who pay the shopkeeper but VISA.

But then you have to pay Visa back when they send you a statement. If you do not pay off all your statement then you start paying interest.

If you use a credit card to get cash then it is like a loan from Visa. They start charging you interest FROM WHEN YOU BORROW THE MONEY, not when you get the statement.

So it is MUCH better to use your debit card.

[mrsann]

best of all open a Nationwide flex account and get their debit card then you don't pay anything for atm withdrawals also their credit card has zero extra for foreign purchases this can make a big difference to your holiday budget if you make several withdrawals and some purchases too