After finally paying a bit more attention to my foreign currency expenses, I realized that the exchange rate on my Citibank VISA is now much less favorable that the one on my Starwood Amex.

After calling the respective companies, plus a third one, I found the following:

• Citibank charges a total of 3% over interbank rates
• Amex charges a total of 2% over interbank rates
• MBNA (on my AOPA Platinum Select card) charges a total of 1% over interbank rates

All three cards have car rental insurance.

You guessed it: MBNA will now get 100% of my overseas bussiness (about $20k/year, for a savings of $400). I am puzzled, however, on Citibank's decision to price itself out of the market on a card that is squarely targeted to very frequent travelers.