Old Jan 30, 15, 8:03 pm
Join Date: Feb 2001
Programs: IHG Plat, Hilton Gold, Accor Gold, Marriott Silver
Posts: 4,046
Foreign exchange rates discussion [FOREX]--all cards

It has been my experience with a Chase Visa (with, theoretically, no foreign exchange fee) that the exchange rate used would average less than 0.5% above the mid-rate quoted on xe.com. In the past few months, this has risen to over 1%. While you can argue various reasons why Visa's exchange rate might differ from other sources, including date of transaction vs date of posting, etc, for a single transaction, that's the average I'm seeing.

Comparing an IHG Mastercard gives me Chase MP Visa charging up to 1.27% more than the Mastercard for same-day same-currency transactions.

It appears as though Chase/Visa has gradually instituted an effective 1% foreign exchange fee which doesn't occur on the Mastercard. Certainly makes the IHG card a lot more attractive.

Last edited by Kremmen; Sep 23, 15 at 11:41 pm
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