are there differences in exchange rates?
Mar 19, 2015 | 4:10 pm
#1
Original Poster
Join Date: Aug 2009
Location: BNA
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are there differences in exchange rates?
I recently made a purchase in euros when the exchange rate quoted in the press (on the day it cleared) was ~1.05 ($/euro), but my Citi AAdvantage card made the conversion at 1.12 ($/euro). I'm a bit disappointed and wondering if there is a comparison of cards based on exchange rate deviations (from quoted rates). Should I complain to customer service? Thanks.
Mar 19, 2015 | 4:20 pm
#2
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You can always complain. There is nothing to stop you.
I am sure Citi is going to credit you regardless.
However, to get the record strict, your CC's T&Cs does mention that the exchange rate is based on the wholesale price by Visa/MC/AMEX, which is something like this:
http://usa.visa.com/personal/card-be...calculator.jsp
And your exchange rate is based on the transaction date, not posted date.
I am sure Citi is going to credit you regardless.
However, to get the record strict, your CC's T&Cs does mention that the exchange rate is based on the wholesale price by Visa/MC/AMEX, which is something like this:
http://usa.visa.com/personal/card-be...calculator.jsp
And your exchange rate is based on the transaction date, not posted date.
Mar 19, 2015 | 4:33 pm
#3
Original Poster
Join Date: Aug 2009
Location: BNA
Programs: AA EXP 2.1MM
Posts: 58
I just phoned Citi and found it was my mistake. There was an additional charge for shipping that I was not quoted. Citi did indeed record the transaction at 1.05. Thanks for the info and response!
Mar 19, 2015 | 9:23 pm
#4
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are there differences in exchange rates?
Mastercard's rate lookup tool
https://www.mastercard.com/global/currencyconversion/
https://www.mastercard.com/global/currencyconversion/