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Foreign exchange rates discussion [FOREX]--all cards

Foreign exchange rates discussion [FOREX]--all cards

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Old Feb 15, 18, 6:44 pm
  #481  
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Originally Posted by paperwastage View Post
no explicit fee, but the fee can be hidden through the exchange rate ...
Most USA issuers did this until about a decade ago when they lost an expensive class action suit. Now, they are careful to disclose the fees.

Claim for Refund of Foreign Currency Conversion Fees

U.S. Currency Conversion Fee Litigation Settlement Approved by Federal Court
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Old Feb 15, 18, 11:27 pm
  #482  
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There are also a lot of other factors in play besides the card network(s) and issuers involved. For instance, I only noticed a 0.3% difference between Visa and MC last year with GBP purchases--not really enough to worry about as someone only visiting. (Chase also had a bonus UR offer going on for Apple Pay and other mobile wallet purchases, so even if it were close to a 1% difference it'd be no worse than what I'd have earned domestically without using AP.)
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Old May 13, 18, 8:41 am
  #483  
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I'm currently in Mexico and my transactions for the last couple of days are as follows:

Uber trip on 5/11 with Chase Sapphire Reserve: MX$217.98 (pending as $11.36, or ~19.18 to $1)
Coffee shop on 5/12 with CSR: MX$57 (pending as $2.98, or ~19.12 to 1)
Coffee shop this morning using my Diners Club MC: MX$40 (pending as $2.08, or ~19.23 to $1)

None of them have posted yet so we'll see how that goes. It looks like there's a 0.5% difference between Visa and MC this time but it's hard to tell due to the transactions being on different dates.
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Old Oct 9, 18, 11:12 pm
  #484  
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The differences that I am experiencing have been reducing over the years. From a peak of close to 1% disadvantage vs Mastercard in 2015, Visa's rates have improved. Meanwhile, MC's rates have deteriorated. Amex's rates have been by far the most consistent, improving just a little over the period.

My averages for 2017 of transaction cost above xe.com's rate are:
MC: .14%
Visa: .31%
Amex: .25%

This trend is continuing, with MC having overtaken Visa/Amex this year.
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Old Oct 12, 18, 4:22 pm
  #485  
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This is great news for competition, but how does the embedded 1% fee that most issuers charge even without an explicit FTF come into play in your analysis.

On the V/MC side, is Capital One still offering the cleanest exchange rate?

A lot of my no AF cards have no explicit FTF from BofA, Barclays US, etc which is a relatively new concept outside of Capital One., but that hidden fee ruins the experience. I won't bother carrying my Chase cards overseas unless I am using a specific category (like Marriott hotels). Big ups for Savor which as a legacy member became one of the best travel cards. Whether I go to restaurants or Carrefour or Tesco, I am getting a good rebate on that card.
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Old Oct 12, 18, 4:37 pm
  #486  
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Originally Posted by rasheed View Post
This is great news for competition, but how does the embedded 1% fee that most issuers charge even without an explicit FTF come into play in your analysis.

On the V/MC side, is Capital One still offering the cleanest exchange rate?

A lot of my no AF cards have no explicit FTF from BofA, Barclays US, etc which is a relatively new concept outside of Capital One., but that hidden fee ruins the experience. I won't bother carrying my Chase cards overseas unless I am using a specific category (like Marriott hotels). Big ups for Savor which as a legacy member became one of the best travel cards. Whether I go to restaurants or Carrefour or Tesco, I am getting a good rebate on that card.
Don't the percentages that @Kremmen mentioned above imply that there is no hidden 1% fee? I'd expect differences above 1 percentage point if that fee still existed.
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Old Mar 22, 19, 1:50 pm
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Just had a 200 Euro charge overnight on my Sapphire Reserve and Chase charges $228.80 which is a 1.144 exchange rate.

Current exchange rate is $1.13.

So there is about a 1.24% surcharge over the rate shown by X-Rate.

Typical
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Old Mar 22, 19, 1:58 pm
  #488  
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Originally Posted by wco81 View Post
Just had a 200 Euro charge overnight on my Sapphire Reserve and Chase charges $228.80 which is a 1.144 exchange rate.

Current exchange rate is $1.13.

So there is about a 1.24% surcharge over the rate shown by X-Rate.

Typical
Has the charge posted yet? It's impossible to tell the exact rate just from a pending charge.
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Old Mar 22, 19, 2:03 pm
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It's pending right now.
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Old Mar 26, 19, 6:28 am
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We're about to travel to the UK and one of our first charges will be large. Are we likely to get a better exchange rate with CSP Visa, Barclay Aviator MC or Amex Bonvoy?
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Old Mar 26, 19, 12:17 pm
  #491  
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Originally Posted by richarddd View Post
We're about to travel to the UK and one of our first charges will be large. Are we likely to get a better exchange rate with CSP Visa, Barclay Aviator MC or Amex Bonvoy?
Last time I went to the UK the differences between all of them weren't big enough to justify using one network over another. YMMV though, especially since others have experienced differences as much as 1% between Visa and the others.
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Old Mar 26, 19, 4:11 pm
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Originally Posted by wco81 View Post
Just had a 200 Euro charge overnight on my Sapphire Reserve and Chase charges $228.80 which is a 1.144 exchange rate.

Current exchange rate is $1.13.

So there is about a 1.24% surcharge over the rate shown by X-Rate.

Typical
So it finally posted as $227.90 or 1.1395. Or about .84 % surcharge, about $2 more out of a 200 Euro charge.
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