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Using Credit Cards in China - The Great CC Rip Off (dynamic currency conversion)

Using Credit Cards in China - The Great CC Rip Off (dynamic currency conversion)

Old Mar 28, 2012, 7:07 am
  #706  
 
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spot of good news

United Airlines office in Beijing--No DCC. Ticket I was purchasing was RMB 10367 or USD 1643.52, told me my choice. Using my calculator to come up with a conversion of 6.3078, and knowing today's spot rate was about 6.2985, I used Old Trusty Capital One Visa and locked in that USD rate directly. Transaction performed using computer software not a terminal, no slip generated. Amount is on the e-ticket receipt itself.
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Old Mar 29, 2012, 1:25 am
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Originally Posted by jiejie
United Airlines office in Beijing--No DCC. Ticket I was purchasing was RMB 10367 or USD 1643.52, told me my choice. Using my calculator to come up with a conversion of 6.3078, and knowing today's spot rate was about 6.2985, I used Old Trusty Capital One Visa and locked in that USD rate directly. Transaction performed using computer software not a terminal, no slip generated. Amount is on the e-ticket receipt itself.
The non-DCC scam actually gives you a choice, good to hear it worked out.^
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Old Apr 12, 2012, 3:04 am
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Originally Posted by percysmith
Good news. A Lorcha charged me a card not present transaction for MOP564.30, which came out to HK$559.58.

Stopping Planet Payment from making $3.15 and causing them and A Lorcha a whole load of paper grief is one satisfaction. But I'm hoping to make BEA honour the 4X miles offer on overseas spending which will mean the transcation earns 350 miles instead of 70.
Update 12 April: BEA (my card issuer) reversed the $562.73 DCC payment (I settled the $559.58) and credited my 4X overseas spending points. Happy ending.
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Old Apr 14, 2012, 2:40 pm
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Can you avoid DCC by using Amex?
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Old Apr 14, 2012, 7:23 pm
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Originally Posted by stifle
Can you avoid DCC by using Amex?
Yes, AFAIK no DCC with Amex. But check to see if you have forex fee, that negates any DCC non scam savings.
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Old Apr 14, 2012, 7:33 pm
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I also believe no DCC with the Discover Card.
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Old Apr 16, 2012, 7:29 am
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Originally Posted by mnredfox
Yes, AFAIK no DCC with Amex. But check to see if you have forex fee, that negates any DCC non scam savings.
Forex fee on most AMEX cards is about 2%. Plat. and Centurion (amongst others) don't have any.
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Old Apr 17, 2012, 8:40 am
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Originally Posted by payam81
Forex fee on most AMEX cards is about 2%. Plat. and Centurion (amongst others) don't have any.
Only is US issued. My UK issued plat card has a forex fee, which is highly irritating. I just tend to use cash in China nowadays since I'm not so good with arguing about the DCC issue.

tb
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Old Apr 17, 2012, 10:12 am
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Originally Posted by trueblu
Originally Posted by payam81
Forex fee on most AMEX cards is about 2%. Plat. and Centurion (amongst others) don't have any.
Only is US issued. My UK issued plat card has a forex fee, which is highly irritating. I just tend to use cash in China nowadays since I'm not so good with arguing about the DCC issue.

tb
Do you exchange gbp cash for rmb cash or can you source rmb locally/through HK? If gbp cash for rmb cash, what are your spreads like?
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Old Apr 18, 2012, 11:49 am
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Originally Posted by percysmith
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Do you exchange gbp cash for rmb cash or can you source rmb locally/through HK? If gbp cash for rmb cash, what are your spreads like?
I live and work in China and get paid in RMB. I still have a variety of credit cards -- UK and US, and some of the US ones are forex fee (and points accumalating!), but I've pretty much stopped using them due to DCC -- my Amex is UK issued, so carries a forex charge.

Before, when visiting, would use my BoA debit/ATM card in CCB ATMs -- got v. close to inter-bank rate.

tb
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Old Apr 22, 2012, 3:33 am
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Another note: Baskin-Robbins uses BoC but like the Maglev and Costa Coffee, their machines default to RMB.
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Old Apr 25, 2012, 7:01 am
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Saw DCC in HK again - Sweetheart Garden Restaurant in Mong Kok (but branches in Causeway Bay and Fortress Hill too).

A Singaporean woman got billed in SGD on her card and saying how clear everything is...the waiter nodded along and explained the amount in SGD and the exchange rate applicable. At no point did the waiter represent the amount will be billed in HKD or the SGD amount/exchange rate is "for reference only".

Now I cannot challenge in this instance that there was insufficient notice of DCC or the rate was bad (it was agreed to). The only possible objection I could have is whether the Singaporean could have opted for HKD if she did not agree to the rate.

Paying cash (I don't have a non-HKD card on me) and leaving a large tip to get my waitress to talk (unfortunately, I cannot get the other waiter), I recounted what I saw an asked if "any selection was required by the customer". She said there is no opt-out "nothing I can do about it", and appeared to confirm the point with her colleagues when she walked me to the door.

China-style DCC strikes HK in earnest...
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Old Apr 25, 2012, 9:46 am
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Originally Posted by percysmith

China-style DCC strikes HK in earnest...
Yeah, it's spreading like wildfire. I'm pretty much cash only, these days.
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Old May 3, 2012, 12:35 am
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Originally Posted by moondog
Yeah, it's spreading like wildfire. I'm pretty much cash only, these days.
Just got back from our first trip to HK: used CC for hotel and dining for the most part, and although DCC was offered, it was never insisted on...v. different to our experience in beijing, which I've become cash only.

tb
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Old May 6, 2012, 2:51 pm
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I'm hoping to avoid reading through the 700+ posts on this thread, so would a kind soul provide an update to the following?

1. DCC is very much so alive and well in major Chinese cities like Beijing/Shanghai/Guangzhou/etc.?
2. I see that amex doesn't have DCC. But is it accepted at pretty much all the 4/5 star hotels, airlines, and nicer restaurants?
3. I see the instructions for opting out of DCC for BOC and CCB. What to do if it is different, say HSBC? Is the recommended course of option to just pay with cash?
4. The theory behind this is that you should make sure you're charged in local currency, and not USD, right?

I'm dreading having to carry $500-1000 USD to pay hotel bills...
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