Is multi currency travel card a good option to use during your initial days.

[knowAndShare]

I will be moving from India to Canada and I just got a mailer from my local bank advertising offering discounts on applying for multi-currency card, since I plan to do my landing in coming months, so I just want to ask you guys about this card. Is it worth to apply for this card?
Please excuse me for my ignorance but please do explain benifit of this card over traditional international credit card.

 

[NetMecca]

I cannot speak for banks in India however most multi currency cards have really only one benefit. You have better control over the exchange rate. Chances are the bank offers you a better exchange rate than you would get from any vendor or merchant service. It's a question of where the currency conversion takes place. I found that I get better rates at my own bank than at another.

Hope this helps

 

[Bs65]

Likewise i cannot speak to cards from India but generally preloaded cards have the advantage of the rate being fixed at the time you load time. Granted you could win or lose if rates change dramatically, however with a credit card you not only are subject to rate changes many cards charge an additional fee for foreign usage some even 1 percent on top of a loaded exchange rate