Originally Posted by
alemdohorizonte
i believe you missed the point.
neither cap1 nor charles schwab pass through the 1% visa forex surcharge to their cardholders. both of these visa cards have 0% forex.
however, there is general consensus (and my personal experience certainly supports this) that cap1 is a lot of trouble to use overseas compared to the schwab visa. plus the schwab visa gives you 2% cash back (not just 1 or 1.25% as the cap1 does).
I think what happens is VISA ups the rate by 1% before sending it onto the different banks, now if it does it by the foreign currency involved or the US$ that i dont know.
So if I was buying something for 100 AUD and the rate was say 1 to 1 so either Cap1 gets an invoice for 101 US$ or 101 AUD and then puts it on my acct.
i dont believe in my ex that Visa will bill Cap1 for 101 AUD but only charge me 100 AUD since they dont charge any Forex fees. they dont charge any but I do Believe they pass on Visas fees but dont tack on anything besides that