New foreign transaction terms
Jun 7, 2008 | 4:47 pm
#1
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New foreign transaction terms
One of our credit card companies just sent us revised terms for continued use of a MasterCard. The card currently charges only a 1% foreign conversion fee. Starting August 1, 2008, this charge applies to all foreign transactions and is no longer just a conversion fee. I see this as yet another reason not to take merchants up on their offer of converting charges to USD (or whatever your home currency is) at purchase time.
I suspect other card issuers will be making this change, or have recently done so.
I suspect other card issuers will be making this change, or have recently done so.
Jun 7, 2008 | 5:33 pm
#2
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1% indicates it is not Citibank, but it's not an unusual policy...
http://flyertalk.com/forum/showthread.php?t=815674
http://flyertalk.com/forum/showthread.php?t=815674
Last edited by mia; Jun 8, 2008 at 11:27 am
Jun 7, 2008 | 8:32 pm
#3
Join Date: Mar 2006
Posts: 591
One of our credit card companies just sent us revised terms for continued use of a MasterCard. The card currently charges only a 1% foreign conversion fee. Starting August 1, 2008, this charge applies to all foreign transactions and is no longer just a conversion fee. I see this as yet another reason not to take merchants up on their offer of converting charges to USD (or whatever your home currency is) at purchase time.
I suspect other card issuers will be making this change, or have recently done so.
I suspect other card issuers will be making this change, or have recently done so.