Just wanted to share my experiences with my new Priority Club Select Visa, a Chase card promising 0 transaction fees. Only seems interesting because I made a large purchase in euros that was immediately cancelled and refunded because of an error, and then had to make the same purchase later.

Purchase: 1/25: 164 euros = $224.11
Return: 1/25: 164 = $223.22
Purchase: 1/27: 164 euros = $225.13

According to the VISA exchange rates, 164 euros on 1/25 converted to $223.80. On 1/27, it converted to $224.88. The page states that the rate is set daily. The amount I was charged varied (always in Chase's favor) by ~.14%, ~.26%, and ~.11%. A negligible amount, but I found it interesting.

Is this typical? Does the exchange rate actually fluctuate during the day, contrary to what VISA says, or is Chase passing on some of the International Service Assessment (ISA) fees?