American Express Membership Rewards - Currency conversion rate and markup (2% or 4%)

Just got my AMEX bill covering my charges for late Dec/early Jan. from my trip to Europe. I was just checking the currency exchange rate/markup that they used since the rate for my RTW ticket bought in Amsterdam was way lower than I expected. It turned out that most of my foreign charges had a conversion charge of 4% http://www.flyertalk.com/forum/frown.gif

After a call to AMEX the customer service rep. checked my whole bill, called me back and said that I will be credited USD 210 http://www.flyertalk.com/forum/smile.gif

Please make sure you check your foreign charges!!!!!

[This message has been edited by mijne (edited 02-02-2000).]

Even 2% is double what you can get from Bank of America Visa or FirstUSA United Mileage Plus card. Help AmEx see that they're shooting themselves in the foot with these rate hikes.

Just got notice that my Corporate card is going to 2% from 1% for international transactions -- joining the rest of my American Express Cards.

I think the only card I have left that charges 1% is my First USA card, which was the one that started this whole scheme of upping the conversion rate, before backing down.

[This message has been edited by opus17 (edited 03-04-2000).]

Quietlion.... Bank of America (at least under the AS Mileage Plan Visa) just went from nothing to 3% effective in April.
http://www.flyertalk.com/forum/Forum112/HTML/000022.html

I really think Congressional Action is needed here.

JEFFERFY i couldn't disagree with you more! theres no need for any type of congressional action what is needed is PERSONAL!!!!!!!!ACTION. Don't be lazy do some homework and get a visa or mc that doesn't charge (T.J.MAX/MARSHALL'S) or that charges 1% as some people have posted above. Yes I wish that Amex,DC,all Citi-cards remained at 1% so that I can get my miles but when itcomes to foreign charges its now on my T.J.MAX visa where I earn 1% in rebates. I also remember not to long ago $99 each way trans-con its twice that today should congress get into it or if i want a cheap flight maybe i should be open to fly any airline or use priceline(which i wouldnt) the pt is there are plenty of options out there not all with the convience one might want but lets keep the Congress from messing up anything more than they have already!

Pay attention to the anniversary of the renewal of your card. If the increase will take place long before your yearly renewal you can write declining to agree with the increase. I did this with my citibank cards last year. Their position is that they will cancel your card at the end of the renewal year. Fear not, you can "decide" to keep the card before it expires by writing them again. I saved on two trips to Mexico by doing this.
Also, I noticed the exchange rate on my click card to worse than my other citibank cards for payment of my hotel in Brussels. They told me I had to wait until my actual bill comes in before investigating. The other bills were about the exchange rate from an ATM plus 2%.

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DtG

I called to complain about the 2%. When asked for the reason behind the hike, I was told it was to "be more competitive." I told the operator if they really wanted to be more competitive, they should have lowered from 1% to 0.5%. The operator couldn't understand competitiveness, I guess.