Which currency to pay with when selecting on CC reader?
Nov 29, 2014 | 9:49 pm
#1
Original Poster
Join Date: Sep 2013
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Which currency to pay with when selecting on CC reader?
Hello All,
I had a question I wanted to ask what FT'ers are doing in terms of paying with a CC internationally.
For example, when I'm in Hong Kong they ask me , "Sir do you want to complete this transaction in USD or HKD". Since I'm using my MileagePlus ClubCard, there isn't a foreign transaction. Should I be selecting USD or HKD to my best benefit?
Maybe it would be better to compare USD to CAD where the dollar conversion is never the same everyday.
I had a question I wanted to ask what FT'ers are doing in terms of paying with a CC internationally.
For example, when I'm in Hong Kong they ask me , "Sir do you want to complete this transaction in USD or HKD". Since I'm using my MileagePlus ClubCard, there isn't a foreign transaction. Should I be selecting USD or HKD to my best benefit?
Maybe it would be better to compare USD to CAD where the dollar conversion is never the same everyday.
Nov 29, 2014 | 9:54 pm
#2
Join Date: Jul 2010
Location: Between AMS and BRU
Posts: 8,854
Which currency to pay with when selecting on CC reader?
Read the thread about DCC (Dynamic Currency Exchange) and you will see that you always should select the local currency....
Nov 29, 2014 | 9:55 pm
#3
Original Poster
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Nov 30, 2014 | 2:09 am
#4
Join Date: Apr 2011
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Nov 30, 2014 | 2:20 am
#5
Join Date: Jul 2014
Posts: 72
+1 and usually the local currency is undervalued by CC issuers so sometimes I beat the exchange rate!
Nov 30, 2014 | 2:46 am
#6
Join Date: Nov 2008
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Posts: 473
Which currency to pay with when selecting on CC reader?
Always local currency
Nov 30, 2014 | 7:24 pm
#7
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Dec 1, 2014 | 3:41 am
#11
Used to be 'flymanbeast'
Join Date: Jul 2011
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Local currency always!
Dec 1, 2014 | 8:09 am
#12
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I'm really glad I started this thread. This scam is full of baloney.
Jan 24, 2015 | 10:34 am
#13
Join Date: Apr 2010
Posts: 311
Actually, I found a dramatic difference when the Swiss Franc shot up in value the other day. It didn't last long.
Jan 24, 2015 | 10:55 am
#14
Join Date: Feb 2011
Posts: 1,381
At least they're asking you (which I believe they're supposed to do), rather than sneaking it through and trying to claim it's "for your convenience".
Note that most cards with a foreign transaction fee charge it based on where the purchase is made, not the currency, so you'd get hit with it even if the charge was in USD. I pretty much reflexively say "charge it in <local currency> please" as I hand over the card now, though I get strange looks when I say that in the USA by accident :-)
Note that most cards with a foreign transaction fee charge it based on where the purchase is made, not the currency, so you'd get hit with it even if the charge was in USD. I pretty much reflexively say "charge it in <local currency> please" as I hand over the card now, though I get strange looks when I say that in the USA by accident :-)
Jan 26, 2015 | 8:02 am
#15
Moderator: Chase Ultimate Rewards
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Let's continue the conversation here:
http://www.flyertalk.com/forum/credi...er-thread.html
The wiki in that thread explains the DCC "scam" in great detail.
http://www.flyertalk.com/forum/credi...er-thread.html
The wiki in that thread explains the DCC "scam" in great detail.