Originally Posted by
Disco Volante
I may have misunderstood, but I have compared the $/£ rate used on my Mastercard statement and the rate used on an Amex statement for the same date. Amex offer the better rate, although then the 2.99% charge is applied. Once this has been done the cost is very similar (the difference between the two cards on a $215 transaction would have been 7p).
Is that a fee-free Mastercard? Remember many card providers that charge fees (usually 2.75% or thereabouts) don't quote it explicitly, but instead just alter the exchange rate to reflect it - this might be why the Amex rate on the face of it looked better.