Originally Posted by
YuropFlyer
The author of that piece of junk is clearly working for one of the DCC-scamers.
He better not show up at any FT meet ups
The only GOOD thing about DCC - from customer side, we all know the good things for the banks about it - is that probably Amex acceptance will rise significantly as merchants want to include them, or lose business due to DCC scamed customers who don't want to pay cash.
So, Amex actually profits on DCC as well, by making more transactions going through them, and having more merchants accepting them rather than the Visa/MC-scamers
The "best rate" guarantees are laughable. My Chase cards charge 0% FTF. How can you offer a better rate than 0%? The only "benefit" I've heard have been that consumers know exactly how much they'll be paying, which makes it easier for business expenses. However, if I were in charge of travel expenses at a company, I wouldn't want employees paying 3-5% more for every transaction just to reconcile things faster.
I think that customer ignorance allows the DCC scam to continue. They don't read the fine print and sign/enter PIN for the transaction before they realize they got screwed. Oftentimes, the fine print has been buried. For instance, I didn't realize this had happened to me at a few hotels because there was a small 3 pt font line about the exchange rate/USD.
I don't understand why there isn't more backlash when some of these people will stand in line for 20 minutes just to get a $1 discount on some promotion, but yet they don't mind being ripped off by merchants overseas for tens of dollars?