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Foreign exchange rates discussion [FOREX]--all cards

Foreign exchange rates discussion [FOREX]--all cards

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Old Apr 19, 16, 9:02 pm
  #316  
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Originally Posted by richarddd View Post
Were they posted on the same date?
Both posted with transaction date of 11th on the Amex web site. The two transactions were done about two hours apart late the 10th (US time).

One other difference: the first, which received the worse rate, was processed at a physical merchant and the second was processed online through Paypal.
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Old Apr 29, 16, 12:17 am
  #317  
 
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AUD data point for the A+

$3253 AUD = $2463.17 (~0.757c)

Transaction and post dates both 04/28. This rate matches the rate on MC.com for 04/27, though.

That's a crazy good rate. Thanks MC. Heh.
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Old May 6, 16, 11:20 am
  #318  
 
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Got a particularly bad rate on my AMEX PRG earlier this week (purchase made/posted on 5/4)

Two transactions GBP to USD posted at 1.47716. I had opted to pay in Pounds (this was for an SAS ticket) instead of USD because the live exchange rate was a total of $4 USD cheaper than the SAS conversion rate. Ended up getting burned due to the AMEX rate which pushed the total up about $4 over the SAS US price.

Should've either just paid USD or used my MC (which recently has been the best rate on all FX stuff I've done).

Also on the same day used my Citi Premier for a train ticket in Norway paid in NOK.

Received a rate of 8.157068 NOK to USD which looks accurate for 5/4 on XE.com

Last edited by Duke787; May 6, 16 at 11:26 am
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Old May 14, 16, 9:53 am
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Originally Posted by patrick.barnes View Post
AUD data point for the A+

$3253 AUD = $2463.17 (~0.757c)

Transaction and post dates both 04/28. This rate matches the rate on MC.com for 04/27, though.

That's a crazy good rate. Thanks MC. Heh.
same for me, post date matches rate on MC.com

visa rate lags behind a few days, didn't put any $ on my visa card so dunno what rate it would have picked up




citi premier mastercard

AUD foreign currency->USD

experience (all online).
pre-auth = alert from citi immediately when I made transaction, post/final rate = finalized info on the statement.
trans | post | AUD | pre-auth rate | post rate (final)
5/4 | 5/5 | 638.60 | 478.28 (0.74895/1.3352) | 476.46 (0.746101/1.3403)
5/4 | 5/5 | 75.000 | 56.170 (0.74893/1.3352) | 55.960 (0.746133/1.3402)
5/5 | 5/6 | 148.50 | 110.61 (0.74485/1.3426) | 108.98 (0.733872/1.3626)
rates from visa/MC website
date--------, VISA ->, VISA <-, MC ->, MC <-
20160411 0.758324 1.3186975488 0.7534000946 1.327316
20160412 0.763324 1.3100596863 0.7619001179 1.312508
20160413 0.769323 1.2998441487 0.7634001537 1.309929
20160414 0.772023 1.2952981971 0.7631997301 1.310273
20160415 0.774023 1.2919512728 0.7682001991 1.301744
20160416 0.773923 1.2921182081
20160417 0.773923 1.2921182081
20160418 0.773923 1.2921182081 0.7641999820 1.308558
20160419 0.776222 1.2882912363 0.7762998753 1.288162
20160420 0.783022 1.2771033253 0.7783997192 1.284687
20160421 0.783322 1.2766142148 0.7749997481 1.290323
20160422 0.783822 1.2757998627 0.7708002371 1.297353
20160423 0.777722 1.2858064964
20160424 0.777722 1.2858064964
20160425 0.777722 1.2858064964 0.7694000372 1.299714
20160426 0.773223 1.2932879648 0.7697998290 1.299039
20160427 0.776822 1.2872961888 0.7572000257 1.320655
20160428 0.776922 1.2871304970 0.7594000436 1.316829
20160429 0.766123 1.3052734352 0.7602001759 1.315443
20160430 0.767123 1.3035719174
20160501 0.767123 1.3035719174
20160502 0.767123 1.3035719174 0.7604001834 1.315097
20160503 0.767723 1.3025531344 0.7491001435 1.334935
20160504 0.772123 1.2951304391 0.7449999330 1.342282
20160505 0.752125 1.3295662290 0.7460999490 1.340303
20160506 0.751725 1.3302737038 0.7339002468 1.362583

20160507 0.748125 1.3366750209
20160508 0.748125 1.3366750209
20160509 0.748125 1.3366750209 0.7310000300 1.367989
20160510 0.738826 1.3534986587 0.7324998462 1.365188
20160511 0.737726 1.3555168179 0.7335998257 1.363141
20160512 0.740526 1.3503914785 0.7311999357 1.367615
20160513 0.738426 1.3542318391 0.7253998767 1.37855

Last edited by paperwastage; May 14, 16 at 10:01 am
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Old May 14, 16, 1:28 pm
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forgot, I actually did put something on my my BoA TR

Bought on 4/15 late night
Transaction date 4/16
Posting date 4/18

AUD 20, USD was $15.48 (0.774 or 1.29)

cannot tell if Visa/BoA uses Transaction or posting date, since the rate is too similar/same

would have saved ~12 cents if I used my Citi Premier.... 12 CENTS!
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Old May 16, 16, 12:08 pm
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Article compares Visa and MC, prefers MC.

"As you can see, MasterCard’s exchange rate is better in all instances, except with the Japanese Yen, where Visa is slightly better.

Rumor has it that the reason for this discrepancy is as follows:

- Visa guarantees the exchange rate the day you make the purchase, but has a built in cushion since the transaction typically only posts a couple of days later, so exchange rates could change, meaning there’s some risk for Visa

- MasterCard charges the exchange rate the day the transaction posts (often a couple of days after the transaction), so since they’re charging whatever the rate is, the cushion is much smaller"

http://onemileatatime.boardingarea.c...exchange-rate/
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Old May 16, 16, 1:11 pm
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Originally Posted by richarddd View Post
Article compares Visa and MC, prefers MC.

"As you can see, MasterCard’s exchange rate is better in all instances, except with the Japanese Yen, where Visa is slightly better.

Rumor has it that the reason for this discrepancy is as follows:

- Visa guarantees the exchange rate the day you make the purchase, but has a built in cushion since the transaction typically only posts a couple of days later, so exchange rates could change, meaning there’s some risk for Visa

- MasterCard charges the exchange rate the day the transaction posts (often a couple of days after the transaction), so since they’re charging whatever the rate is, the cushion is much smaller"

http://onemileatatime.boardingarea.c...exchange-rate/
Just saw that and it supports my own recent experiences in which my Citi MCs have been better than the CSP for FOREX
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Old May 17, 16, 2:20 pm
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Originally Posted by Duke787 View Post
Just saw that and it supports my own recent experiences in which my Citi MCs have been better than the CSP for FOREX
That's the entire point of this thread, with hundreds of data points. No need to have it "confirmed" by a blogger.

That said, 99% of the time MC is better than Visa for JPY transactions. There are very few instances where Visa wins out in general (maybe GBP).
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Old May 17, 16, 8:48 pm
  #324  
 
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Originally Posted by richarddd View Post
"As you can see, MasterCard’s exchange rate is better in all instances, except with the Japanese Yen, where Visa is slightly better.

Rumor has it that the reason for this discrepancy is as follows:

- Visa guarantees the exchange rate the day you make the purchase, but has a built in cushion since the transaction typically only posts a couple of days later, so exchange rates could change, meaning there’s some risk for Visa

- MasterCard charges the exchange rate the day the transaction posts (often a couple of days after the transaction), so since they’re charging whatever the rate is, the cushion is much smaller"

http://onemileatatime.boardingarea.c...exchange-rate/
The JPY part contradicts my experience of over 500 JPY transactions. For me, MC were 100% better.

Also, my VISA transactions always used the rates of the posting dates...

The only thing that is close to a transactional-date-rate-using is on AMEX.
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Old Jun 7, 16, 5:41 am
  #325  
 
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Not that we need any more, but a JPY data point. Purchases were made 20 minutes apart.

A pizza purchased with CSP (Visa), JPY 1868 = USD 17.56 (1 USD = 106.38 JPY)

A couple electronic items purchased with a First Tech Mastercard, JPY 1836 = USD 17.09 (1 USD = 107.43 JPY)

Unsurprisingly, the rate is off by almost exactly 1%. I didn't realize that "no foreign transaction fee" actually meant "we'll still get 1% by manipulating the exchange rate".

Most of my purchases while travelling are categories that get double UR points, so I'll probably suck it up and effectively pay 0.5˘ per point for them.
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Old Jun 7, 16, 10:59 am
  #326  
 
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Originally Posted by der_saeufer View Post
Most of my purchases while travelling are categories that get double UR points, so I'll probably suck it up and effectively pay 0.5˘ per point for them.
should get citi premier then... 3x TYP for travel, 2x dining instead of 2x UR for travel+dining (unless you have something other than CSP), and premier is MC World Elite (for MC fx rate and some MC World Elite benefits)

TYP is just missing BA, Korean air, Southwest and United as transfer partners
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Old Jun 7, 16, 6:32 pm
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Originally Posted by paperwastage View Post
should get citi premier then... 3x TYP for travel, 2x dining instead of 2x UR for travel+dining (unless you have something other than CSP), and premier is MC World Elite (for MC fx rate and some MC World Elite benefits)

TYP is just missing BA, Korean air, Southwest and United as transfer partners
+1 for Citi Premier
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Old Jun 7, 16, 11:54 pm
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Originally Posted by paperwastage View Post
TYP is just missing BA, Korean air, Southwest and United as transfer partners
...and when I transfer UR points, it's almost always to either BA or UA.

Thanks for the heads-up, though; if my airline pattern changes I might jump ship.
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Old Jun 11, 16, 12:50 am
  #329  
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As noted here by gooselee:
Effective August 15, 2016, we are updating your Cardmember Agreement to state that, for any charges you make in a foreign currency, AE Exposure Management Ltd. ("AEEML") will convert that charge into U.S. dollars.
I likewise wonder if this will result in any changes to the current Amex exchange rate performance? It is certainly possible, given that the new phrasing of exchange rate calculation says "If you make a charge in a foreign currency, AE Exposure Management Ltd. ("AEEML") will convert it into U.S. dollars on the date we or our agents process it" but there is still the phrasing about previous business day(s), etc, so maybe not.

Last edited by Kremmen; Jun 11, 16 at 12:56 am
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Old Jun 13, 16, 12:22 am
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Got some cash using my HSBC Premier MC in Melbourne and for AUD200, it deducted USD144.68 from my account.

I went through the history of those dates on XE.com and the best rate to convert AUD200 into USD would result in 145 or higher.

You see what I mean???
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