Foreign exchange rates discussion [FOREX]--all cards
Apr 19, 16, 10:02 pm
#316
Original Poster
Join Date: Feb 2001
Programs: IHG Plat, Hilton Gold, Accor Gold, Marriott Silver
Posts: 4,038
Originally Posted by richarddd
Were they posted on the same date?
One other difference: the first, which received the worse rate, was processed at a physical merchant and the second was processed online through Paypal.
May 6, 16, 12:20 pm
#318
Join Date: Mar 2013
Programs: DL PM, MR Titanium/LTP, Hilton Diamond
Posts: 7,982
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
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 12:26 pm
May 14, 16, 10:53 am
#319
Join Date: Jun 2012
Posts: 2,083
Originally Posted by patrick.barnes
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.
$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.
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)
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)
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
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 11:01 am
May 14, 16, 2:28 pm
#320
Join Date: Jun 2012
Posts: 2,083
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!
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!
May 16, 16, 1:08 pm
#321
Join Date: Dec 2003
Location: NYC
Posts: 5,279
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/
"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/
May 16, 16, 2:11 pm
#322
Join Date: Mar 2013
Programs: DL PM, MR Titanium/LTP, Hilton Diamond
Posts: 7,982
Originally Posted by richarddd
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/
"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/
May 17, 16, 3:20 pm
#323
Join Date: Oct 2005
Location: SF
Programs: UA, VX, QF, EY, VA
Posts: 756
Originally Posted by Duke787
Just saw that and it supports my own recent experiences in which my Citi MCs have been better than the CSP for FOREX
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).
May 17, 16, 9:48 pm
#324
Join Date: Feb 2013
Location: Irvine CA & PEK
Programs: IHG Spire Ambassador, SPG Gold, Ritz Carlton Gold, KrisFlyer Gold, AA Platinum
Posts: 662
Originally Posted by richarddd
"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/
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/
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.
Jun 7, 16, 6:41 am
#325
Join Date: Dec 2010
Location: Belgium
Posts: 854
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.
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.
Jun 7, 16, 11:59 am
#326
Join Date: Jun 2012
Posts: 2,083
Originally Posted by der_saeufer
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.
TYP is just missing BA, Korean air, Southwest and United as transfer partners
Jun 7, 16, 7:32 pm
#327
Join Date: Feb 2013
Location: Irvine CA & PEK
Programs: IHG Spire Ambassador, SPG Gold, Ritz Carlton Gold, KrisFlyer Gold, AA Platinum
Posts: 662
Originally Posted by paperwastage
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
TYP is just missing BA, Korean air, Southwest and United as transfer partners
Jun 8, 16, 12:54 am
#328
Join Date: Dec 2010
Location: Belgium
Posts: 854
Originally Posted by paperwastage
TYP is just missing BA, Korean air, Southwest and United as transfer partners
Thanks for the heads-up, though; if my airline pattern changes I might jump ship.
Jun 11, 16, 1:50 am
#329
Original Poster
Join Date: Feb 2001
Programs: IHG Plat, Hilton Gold, Accor Gold, Marriott Silver
Posts: 4,038
As noted here by gooselee:
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.
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.
Last edited by Kremmen; Jun 11, 16 at 1:56 am
Jun 13, 16, 1:22 am
#330
Join Date: Feb 2013
Location: Irvine CA & PEK
Programs: IHG Spire Ambassador, SPG Gold, Ritz Carlton Gold, KrisFlyer Gold, AA Platinum
Posts: 662
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???
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???
