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Author: 2gifts Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 126962  
Subject: Re: College Student's Credit Rating Date: 1/23/2014 9:34 PM
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Most of Europe runs of debit cards, so he's probably best off opening a local bank account for while he's abroad.
That way you can also save on foreign transaction fees (unless you're thinking of a card that features no such fee, but then the transfer spread may be bigger).


DD used a CapitalOne Visa and a CapitalOne banking account while she was studying abroad for a semester in Italy. She was able to use her credit card most places, and did ATM withdrawals in local currency for when she needed cash. CapitalOne does not charge foreign transaction fees on their credit card nor do they charge ATM fees, so this was the best bet for her.

As I recall, I co-signed on that credit card, but she has just closed that one when she got her own CapitalOne card instead because they have a great cash rebate. She still has her initial credit union credit card, which is the one I also co-signed and which she will keep for my convenience and to keep her oldest card active.

She did not have any problem without a debit card while in Europe, but it is worth checking to be sure that is still true. She was there in 2012.
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