Foreign exchange rates discussion [FOREX]--all cards
#466
Join Date: Jun 2014
Posts: 213
1. It's sounding like MC is generally better than Visa? How much can we say in terms of % overall/on average that MC is better?
2. Would it be true to say that using Visa would still be better than exchanging USD for local cash and using cash?
3. How about the Charles Schwab Visa debit? Does that give good rates?
Thanks for helping me figure this out.
2. Would it be true to say that using Visa would still be better than exchanging USD for local cash and using cash?
3. How about the Charles Schwab Visa debit? Does that give good rates?
Thanks for helping me figure this out.
#467
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Gold
Posts: 14,584

(Yes, it's probably that convoluted to change on purpose.)
#468
Join Date: Jun 2014
Posts: 213
Whoaaa ... them Ba****ds.
I have PayPal for over a decade and I did not know this.
I can't believe how sneaky they made this.
And I don't know about you, but how they word the second option, it sounds worse .
I have PayPal for over a decade and I did not know this.
I can't believe how sneaky they made this.
And I don't know about you, but how they word the second option, it sounds worse .
#469
Join Date: Jun 1999
Location: Rio de Janeiro, BRAZIL
Programs: AA 4MM EXP; Starwood Lifetime Plt
Posts: 2,482
Does this choice apply only to subscriptions and other recurring payments or also to one-time non-recurring payments such as a single purchase from a foreign merchant?
#470
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Gold
Posts: 14,584
Both. I made an eBay purchase from a foreign seller recently and the credit card statement showed that the charge was in the foreign currency and not USD.
#471
Original Poster

Join Date: Feb 2001
Programs: IHG Plat, Hilton Gold, Accor Gold, Marriott Silver
Posts: 4,040
#472
Original Poster

Join Date: Feb 2001
Programs: IHG Plat, Hilton Gold, Accor Gold, Marriott Silver
Posts: 4,040
1. It's sounding like MC is generally better than Visa? How much can we say in terms of % overall/on average that MC is better?
2. Would it be true to say that using Visa would still be better than exchanging USD for local cash and using cash?
3. How about the Charles Schwab Visa debit? Does that give good rates?
Thanks for helping me figure this out.
2. Would it be true to say that using Visa would still be better than exchanging USD for local cash and using cash?
3. How about the Charles Schwab Visa debit? Does that give good rates?
Thanks for helping me figure this out.
2. Absolutely. A Visa card with no foreign exchange fee is still better than cash and earns you points/miles.
3. No idea. I'd never contemplate using a debit card instead of earning points/miles.
#473
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Gold
Posts: 14,584
I ran into one case in the UK where paying cash absolutely was better than using a card. That was mainly due to the restaurant wanting to charge an extra 20p for using it, however. Fortunately, that sort of thing is going to become illegal there soon, but this may still be an issue elsewhere.
#474
Original Poster

Join Date: Feb 2001
Programs: IHG Plat, Hilton Gold, Accor Gold, Marriott Silver
Posts: 4,040
I ran into one case in the UK where paying cash absolutely was better than using a card. That was mainly due to the restaurant wanting to charge an extra 20p for using it, however. Fortunately, that sort of thing is going to become illegal there soon, but this may still be an issue elsewhere.
#475
Join Date: Jun 2014
Posts: 213
#476
Original Poster

Join Date: Feb 2001
Programs: IHG Plat, Hilton Gold, Accor Gold, Marriott Silver
Posts: 4,040
However, it depends how much effort you think it's worth. I pay for hotel, air fare, etc, on credit card. Even in a third world country, less than 10% of my spending is in cash. On a week-long trip to Thailand having a Schwab account might save me 75c. (After checking statements to make sure that all the ATM fees were rebated, that makes a very low return on time invested.)
#477
Join Date: Jan 2011
Posts: 364
Conversion date different from posting date?
Took my Citi Prestige to southern Africa.
1. 1800 BWP on 16 December 17 (weekend, but says it posted on the 16th). Prestige $179.57. Mastercard site has $175.70 on 15, 16, and 17, $179.11 on 18, and $179.57 on 19. So I guess the conversion happened on the 19th despite both columns in my bill showing the 16th?! On oanda.com it's $171.869 for the 16th and $173.703 for the 19th. That's a 3.37% hidden fee.
2. 11890.58 ZAR on 13 December 17. Prestige $882.65, matching the Mastercard site for 13 December. On oanda.com it's $871.04 for that day. That's a 1.33% hidden fee.
3. 105 ZMB on 14 December 17. Prestige $10.72, matching the Mastercard site. On oanda.com it's $10.47. That's a 2.38% hidden fee.
1. 1800 BWP on 16 December 17 (weekend, but says it posted on the 16th). Prestige $179.57. Mastercard site has $175.70 on 15, 16, and 17, $179.11 on 18, and $179.57 on 19. So I guess the conversion happened on the 19th despite both columns in my bill showing the 16th?! On oanda.com it's $171.869 for the 16th and $173.703 for the 19th. That's a 3.37% hidden fee.
2. 11890.58 ZAR on 13 December 17. Prestige $882.65, matching the Mastercard site for 13 December. On oanda.com it's $871.04 for that day. That's a 1.33% hidden fee.
3. 105 ZMB on 14 December 17. Prestige $10.72, matching the Mastercard site. On oanda.com it's $10.47. That's a 2.38% hidden fee.
#478
Join Date: Jun 1999
Location: Rio de Janeiro, BRAZIL
Programs: AA 4MM EXP; Starwood Lifetime Plt
Posts: 2,482
#479
Join Date: Jan 2014
Location: OC
Programs: Delta/Hyatt/Hilton DM, Marriott Plat
Posts: 105
It was advertised as NO FOREIGN TRANSACTION FEE. However, I've had foreign transactions of same amount ran through both Amex Platinum and CSR simultaneously , and CSR trsnactions usually costs 1%~1.5% more.
https://creditcards.chase.com/reward...4R8&iCELL=61HB
https://creditcards.chase.com/reward...4R8&iCELL=61HB
#480
Join Date: Jun 2012
Posts: 2,105
It was advertised as NO FOREIGN TRANSACTION FEE. However, I've had foreign transactions of same amount ran through both Amex Platinum and CSR simultaneously , and CSR trsnactions usually costs 1%~1.5% more.
https://creditcards.chase.com/reward...4R8&iCELL=61HB
https://creditcards.chase.com/reward...4R8&iCELL=61HB
try comparing transactions on the same network (eg: both visa cards with no ftf)