You may be able to avoid convenience fees by paying with cash or another form of payment. In addition to the cash advance fee, card issuers also typically charge a higher APR compared to the rate charged on regular purchases. What’s more, cash advances don’t qualify for the same grace period as purchases, so interest starts accruing immediately.
You can often limit interest and transaction fees by charging purchases to your card rather than getting a cash advance. A credit card cash advance is a withdrawal of cash from your credit card account. Essentially, you’re borrowing against your credit card to put cash in your pocket.
Postal Inspection Service are responsible for prosecuting criminals who engage in credit card fraud. However, they do not have the resources to pursue all criminals, and in general they only prosecute cases exceeding $5,000. Credit card ownership brings additional risks with it (compared to other cashless payment alternatives) such as an increased risk of fraud, or taking on unnecessary liability. Some exchanges do not allow the conversion or selling of some cryptos to dollars, so you’ll need to take an indirect route to get your cash.
If you have a balance that’s currently benefiting from a 0% introductory APR, that payment priority is especially important to keep in mind. As far as the other issuers go, the foreign transaction fee is typically around 3%, when levied. Still, there are plenty of cards that don’t assess international transaction fees, so you should be able to easily avoid them.
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