Originally Posted by Jamester
:
Also - I heard credit unions issued Visa/Mastercard do not charge extras as well - can anyone confirm? The people I talked to at my credit union doesn't seem to know.
Thx!
Jamester
My credit union issues a VISA CC that doesn't tack on extra fees.
Before taking an overseas trip, I specifically asked them regarding "currency conversion", they said 0%. I asked that they check for sure, and got the same answer. So when I charged up $3000 and saw a $30 difference between Interbank exchange rate and what I was charged, I disputed the transaction. After some investigation on their part, they found that they don't "add" any extra, but that VISA itself charges 1% for the conversion service.
I lobbied to get my $30 reversed on the premise that they failed to disclose the hidden fees. They agreed. As a result, they list the conversion charge in their public fee schedule now as 1%.