Withdrawing from Axis Reserve Credit Card.

[sonuyos]

I am planning to travel USA and few other places and I just noticed that my Reserve card has no Cash Withdrawal Charges and has 1.5% currency conversion only.

So does that mean if I withdraw say $100, I will be charged total of 8355 (current amount is 83.55Rs per $) + 147.8835 in Conversion fees & GST?

Do I have to worry about any hidden fees or anything?

 

[sonuyos]

Even if there is no cash withdrawal charge there will be interest, forex conversion fee 1.77% as well as the foreign bank ATM charges.
you will have to lose in any case

Thats fine, no one is giving 1:1 rate either way, 1.87% is good imho.

 

[sonuyos]

Good to go with Reserve, just be ready to send some emails and stay in touch with RM so that your card can be unblocked easily and you can withdraw funds from ATM normally.

Keep some extra cash in side, dont completely depend on CC until you manage to get your first successful withdrawal from ATMs

I dont carry cash, the cash is only for emergency that I will withdraw there. 1.87% is terrific rate IMHO.
Much cheaper than anything else. Also I always inform RM in advance before going international.

 

[drsel]

Thats fine, no one is giving 1:1 rate either way, 1.87% is good imho.

I don't see why you cannot swipe the card instead of withdrawing cash.
It will be very profitable to do.

Unless you want to bring the forex back and sell it in India

 

[sonuyos]

I don't see why you cannot swipe the card instead of withdrawing cash.
It will be very profitable to do.

Unless you want to bring the forex back and sell it in India

It's only for emergency. I am gonna use cars thru and thru but just for emergency $100-200 gonna keep in hand.

I do have a question.

Say my limit is 5lk on Reserve and I used 3lk as standard usage. And I withdraw 50k using the card and I pay 50k right away.

Would I still be charged interest for the rest of the term?

What I mean to ask is will the 50k be credited towards the 3lk usage or the 50k withdrawal?

 

[drsel]

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