Best US$ Rate

[DisneyLisa]

Just getting ready for our trip and after reading the thread on a US$ credit cards (too late for me to get one now), I thought I'd ask if anyone knows the best way to get the best exchange rate for our trip to WDW. I put my room deposit on Amex & couldn't believe the high exchange rate ($100 deposit was $162.63 )

I know you get different exchange rates on cash, money orders, credit cards etc. (worked in a bank during my University days...a long time ago ) but can't remember now which is cheaper (I think it was money orders, etc.). Rather than phone around I thought I'd post on this knowledgeable board & see if anyone knows.

I was wondering if it might be worth my while to get a US money order & send it to the resort (while the CA$ is doing well) rather than pay by credit card when we leave. I have a Mastercard, Visa & Amex but not sure if one is better to use than the other...any thoughts on this would be appreciated.

Thanks,

Lisa

 

[MikeJ]

There is a related discussion in another thread on the board. A number of people have obtained US$ credit cards from their Canadian bank, and also have a US$ savings account. They then transfer money into the US$ account when the exchange rate is more favourable and use the US$ credit card when travelling. Then they can pay off the US$ credit card from the US$ bank account. No exchange of currency is required as it's already been done.

The advantage is that you can transfer money over when the dollar is higher, and not be stuck with a bad rate as may be when you are travelling. I know when we were in at WDW over Christmas the rate on our Mastercard was around $1.62 - I just ordered something from the US last week and the rate on the card has dropped to roughly $1.55. Oh if the rate had been 1.55 at Christmas!

- Mike

 

[DisneyLisa]

Thanks for the info Mike, but as I posted above, I don't think I have time to get a US credit card at this point. I could consider a US$ chequing account but am just wondering what people's experiences are with different exchange rates. It sounds like mastercard gives a better rate than Amex so I'll keep that in mind.

Thanks,

Lisa