Mastercard Advantages

Due to my job, I travel on regular basis to many countries in Europe, Africa and Asia. I hold a VISA Signature credit card with no fees or extra charges for purchases abroad, the downside is the fact the bank gives me a lousy exchange rate. When I first heard Peter Schiff talking about Goldmoney I thought the prepaid Mastercard could be a way to reduce my exchange costs. However, when I was applying to get the card, I realized I have to choose one currency and pay a 0,5% fee for all the redemptions from my Goldmoney account to my Mastercard. So I wonder what is the advantage of changing my VISA for this Mastercard? it seems to me that the exchange rates disadvantages will still be part of my life and I will pay 0,5% on the top of that. Can anybody help me to get this right? Thanks!

Comments

  • nigelmarkdiasnigelmarkdias Posts: 1,323 Silver ✭✭✭✭
    edited January 2017
    Here you go, @Juliano
    I travel throughout the GCC UAE (UAE dirhams), Kuwait (Kuwaiti dinars), Bahrain (Bahraini dinars), KSA (Saudi riyals), Qatar (Qatari riyals) & India (Indian rupees), Kenya (Kenyan Shilling) with a US dollar denominated Goldmoney Mastercard, for these reasons:
    1. Not a credit card: its a debit card. So, no debt. Pay from earnings or savings.
    2. What is the exchange rate that you get from your bank and/or Visa as compared with the Goldmoney debit Mastercard?
    3. An opportunity to gain from the value of the underlying gold over the long term.
    4. Liquefy only the gold that I need.

    Hope that this helps.
  • como hago que es esto nadie me ha explicado como que pasa aca no se usar esto de goldmoney es que me daran una tarjeta de credito mmmmmmmm
  • si alguien me asesora y explica que debo hacer aca porq en ningun lado veo nada de ayuda
  • ChrisChris Posts: 53 Bronze ✭✭✭
    Hello,

    The points @nigelmarkdias makes are all solid. Thank you for that.

    Another benefit of using a Goldmoney Prepaid Card is that we offer 4 currencies currently; GBP, EUR, USD and CHF. If you were to travel to areas that make use of one of these currencies , you could use that currency card to make transactions in the area. We are intending to release more currency cards in the future and this would further limit exchange rate concerns for frequent travellers. You would be able to have one of each card, which would mean that you can avoid exchange rates for these currencies and only take the funds that you would require. If you needed more funds while on the trip, you could sign in and redeem from your vault to the prepaid card.

    In redeeming from the platform to a Goldmoney Prepaid Card, there is no exchange rate fee and the 0.5% fee for redemptions would be significantly less than the foreign exchange fees that would occur per transaction. There is also no foreign transaction fee associated with the prepaid cards.
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