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Foreign exchange rates discussion [FOREX]--all cards

Foreign exchange rates discussion [FOREX]--all cards

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Old Aug 3, 16, 3:33 am
  #376  
 
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Originally Posted by stvr View Post
Just got back from a big Europe trip where I put a bunch of my cards head to head. Mostly MC vs. Amex because Visa is consistently worse. Threw in a couple of Visa charges just to prove my point.

Date in Currency Differences
6.30 in GBP MC and Amex were exactly the same, Visa was 0.4% worse
7.1 in GBP MC beat Amex by 1.2%, MC beat Visa by 0.2%
7.2, 7.3, 7.4 in GBP MC and AMEX were exactly the same, Visa was 0.4% worse
7.5 in DKK Amex beat MC by 0.8%

Norway couldn't find anywhere that accepted Amex in Norway!

7.8 in NOK MC beat Visa by 1.2%

Sweden no Amex acceptance in Sweden, didn't even whip out my Visa I was so disgusted with it
Where did you go in Norway and Sweden? I've never had any trouble with Amex there, especially in Sweden.
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Old Aug 8, 16, 2:37 am
  #377  
 
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Originally Posted by stvr View Post
Just got back from a big Europe trip where I put a bunch of my cards head to head. Mostly MC vs. Amex because Visa is consistently worse. Threw in a couple of Visa charges just to prove my point.

Date in Currency Differences
6.30 in GBP MC and Amex were exactly the same, Visa was 0.4% worse
7.1 in GBP MC beat Amex by 1.2%, MC beat Visa by 0.2%
7.2, 7.3, 7.4 in GBP MC and AMEX were exactly the same, Visa was 0.4% worse
7.5 in DKK Amex beat MC by 0.8%

Norway couldn't find anywhere that accepted Amex in Norway!

7.8 in NOK MC beat Visa by 1.2%

Sweden no Amex acceptance in Sweden, didn't even whip out my Visa I was so disgusted with it
Do you think that the instances of MC and Amex are different, are caused by weekends, and by the fact that MC and Amex use different dates (purchase vs posting) in determining rates?
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Old Aug 22, 16, 1:00 am
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Just another data point (MC vs Amex for AUD). Same transaction and posting dates.

MC: 1 AUD = 0.762 USD
Amex: 1 AUD = 0.771 USD

MC rate better by 1.18%.
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Old Aug 26, 16, 7:25 am
  #379  
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Looks like AMEX, MC, and Visa have learned NOTHING from the previous class-action lawsuit and are continuing scamming people with inflated exchange rates. Perhaps time for ANOTHER massive lawsuit.
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Old Sep 2, 16, 9:00 am
  #380  
 
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Originally Posted by stvr View Post
Just got back from a big trip to Japan, where we did a lot of A/B/C testing to see which card gives the lowest rates. Here are my results, by day:

6.9
MC 106.65 JPY/USD
Amex 106.49 JPY/USD

6.10
MC 104.31 JPY/USD
Visa 103.61 JPY/USD

6.11
MC 106.15 JPY/USD
Amex 106.64 JPY/USD
Visa 102.12 JPY/USD

6.12
MC 105.77 JPY/USD
Amex 106.15 JPY/USD
Visa 105.68 JPY/USD

6.14
MC 105.80 JPY/USD
Amex 105.47 JPY/USD
Visa 103.78 JPY/USD

6.15
MC 103.57 JPY/USD
Amex 105.62 JPY/USD
Visa 103.66 JPY/USD

Very pleased with my Amex. Visa threw some dud rates in there. Some of these differences were 2% or larger!
Thanks, this is great. Will use my Amex in Japan in October MC is backup. Visa on the shelf.
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Old Sep 13, 16, 11:19 am
  #381  
 
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Chase Sapphire Reserve

I just put on about a $2500 charge in Australian dollars.

Same amount (3363 AUD) in XE currency showed about $2507 but Chase charged $2546 and change.

Their exchange rate was higher with the CSP too.

May be something to keep in mind, even if they are giving you 3X points in travel and dining, they charge about 1% on foreign exchange rates.

Last edited by mia; Sep 13, 16 at 11:59 am
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Old Sep 13, 16, 11:24 am
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Originally Posted by wco81 View Post
I just put on about a $2500 charge in Australian dollars.

Same amount (3363 AUD) in XE currency showed about $2507 but Chase charged $2546 and change.

Their exchange rate was higher with the CSP too.

May be something to keep in mind, even if they are giving you 3X points in travel and dining, they charge about 1% on foreign exchange rates.
Really? I remember the CSP exchange rate to be pretty accurate to the close of business day rate.
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Old Sep 13, 16, 11:38 am
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Originally Posted by RedElmo View Post
Really? I remember the CSP exchange rate to be pretty accurate to the close of business day rate.
Yeah looking at it, it's more than 1%.

That's pretty horrible.
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Old Sep 13, 16, 11:44 am
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Originally Posted by wco81 View Post
Same amount (3363 AUD) in XE currency showed about $2507 but Chase charged $2546 and change.
the exchange rate used by credit card is set each day, while the xe rate you saw probably is intra-day. could be the reason why you think there's 1% while it's not...
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Old Sep 13, 16, 11:50 am
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Originally Posted by wco81 View Post
Same amount (3363 AUD) in XE currency showed about $2507 but Chase charged $2546 and change.
according to visa.com

9/13 rate is 1 AUD = 0.757124 USD, 3363 => 2546
so chase didn't charge you any.
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Old Sep 13, 16, 12:33 pm
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Originally Posted by mingw View Post
according to visa.com

9/13 rate is 1 AUD = 0.757124 USD, 3363 => 2546
so chase didn't charge you any.
Yeah except right now as I type this, XE app shows .7447. That's more than a cent, more than 1 % higher.

So Visa is taking a cut.
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Old Sep 13, 16, 12:35 pm
  #387  
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Originally Posted by wco81 View Post
I just put on about a $2500 charge in Australian dollars.
Has the transaction posted or is it still pending? The exchange rate will change, and it will be tied to the posting date, not the transaction date.
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Old Sep 13, 16, 12:38 pm
  #388  
 
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It's showing pending. I just charged it this morning and the Chase app. popped the notification with the amount on my iPhone.

The app. shows the same amount pending.

I've used MasterCards and their rates are consistently lower than Chase. In fact, pretty sure my BofA Cash Rewards Visa is lower as well. (I have the grandfathered Schwab visa so no FTF).
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Old Sep 14, 16, 10:09 am
  #389  
 
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If you use MC issued by Chase, your statement would be my Chase MC is consistently offering lower rates than my Chase Visas...
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Old Sep 15, 16, 4:45 pm
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Originally Posted by wco81 View Post
I've used MasterCards and their rates are consistently lower than Chase. In fact, pretty sure my BofA Cash Rewards Visa is lower as well. (I have the grandfathered Schwab visa so no FTF).
You're mistaken.

If you have a charge on a Chase Visa credit card that posts the same day as a charge on a BofA Visa credit card, the exchange rates will be identical. (And the foreign transaction fee, if any, would be a separate transaction item on your statement.)
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