Best card for foreign exchange?
Jan 2, 2010 | 1:59 pm
#1681
Join Date: Dec 2001
Location: NYC
Programs: AA LT PLT, SPG Gold
Posts: 2,567
Fair enough. But it has been my (albeit limited) experience that Amex is not nearly as common or generally accepted in parts of Europe.
Jan 2, 2010 | 3:32 pm
#1682
FlyerTalk Evangelist
Join Date: Feb 1999
Location: Seat 1A, Juice pretty much everywhere, Mucci des Coins Exotiques
Posts: 34,337
But the real answer depends on your travel patterns. If you go to one country or region (EU) often, then it may make sense to get a local credit card. If you have the shotgun approach, and you are US-based, then Schwab may make the most sense.
Jan 3, 2010 | 1:12 am
#1683
FlyerTalk Evangelist
Join Date: Dec 2002
Location: Danville, CA, USA;
Programs: UA 1MM, WN CP, Marriott LT Plat, Hilton Gold, IC Plat
Posts: 18,101
Data Point:
Used my BofA ATM card to withdraw cash from Banco Santander ATM last week in Cancun.
Was charged $155.52 by BofA, the rate provided by oanda for that date was $155.13. Close enough for me. Adios to Citi and the rest who jack their customers at ATMs.
Used my BofA ATM card to withdraw cash from Banco Santander ATM last week in Cancun.
Was charged $155.52 by BofA, the rate provided by oanda for that date was $155.13. Close enough for me. Adios to Citi and the rest who jack their customers at ATMs.
Jan 3, 2010 | 4:58 am
#1684
Join Date: Feb 1999
Location: Denver CO
Posts: 3,686
Amex works for all major purchases in Europe. And for all AF/KL/Accor purchases I get bonus points. For the small stuff, I have Euro-based visa cards that earn award points.
But the real answer depends on your travel patterns. If you go to one country or region (EU) often, then it may make sense to get a local credit card. If you have the shotgun approach, and you are US-based, then Schwab may make the most sense.
But the real answer depends on your travel patterns. If you go to one country or region (EU) often, then it may make sense to get a local credit card. If you have the shotgun approach, and you are US-based, then Schwab may make the most sense.
The AF Amex carries a hefty fee after the first year. And Amex clearly does not have the general acceptance in Europe that it has in the USA. I've priced the AF card several times and even with a fair amount of time in Euroland, I just can't make the numbers work. Those EQMs are very attractive, though, if one has enough action to get status on AF.
I once had high hopes for HSBC but, as you mentioned, it seems they want big minimums to avoid fees.
I hope if Schwab does rethink its card, it will not cut it out but perhaps continue it for those who have or start a significant relationship with Schwab.
Jan 3, 2010 | 6:40 pm
#1685
Join Date: Jul 2007
Programs: Marriott Platinum
Posts: 275
I have been using the Schwab CC for a while now and make it a point to use it for all international transactions. I must say that they have one of the best conversion rates and they also eat up the Visa/Mastercard fees.
Also, their debit/ATM card lets you pull cash out of any ATM worldwide for no extra fees. I have used it in Bali, India, Fiji, Australia and it has worked everywhere with no extra fees (they refund the fees at the end of each month).
Regarding rumors about Schwab rethinking their current policies, do we know how accurate this info is? It will be sad to see these benefits go away...
Also, their debit/ATM card lets you pull cash out of any ATM worldwide for no extra fees. I have used it in Bali, India, Fiji, Australia and it has worked everywhere with no extra fees (they refund the fees at the end of each month).
Regarding rumors about Schwab rethinking their current policies, do we know how accurate this info is? It will be sad to see these benefits go away...
Jan 3, 2010 | 6:57 pm
#1686
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 30,343
I would not be surprised Schwab eventually changes the bene on this card. They did that to its predecessor Visa which I still have it as open but have not used it since 2007 when Schwab started charging 3% forex fee on that one after about a year existence with no fee.
Jan 4, 2010 | 4:48 pm
#1687
Join Date: Jun 1999
Location: Rio de Janeiro, BRAZIL
Programs: AA 4MM EXP; Starwood Lifetime Plt
Posts: 2,498
Those are just speculations based on the FACT that Schwab pulled the offer page though the URL of app itself still is a working one.
I would not be surprised Schwab eventually changes the bene on this card. They did that to its predecessor Visa which I still have it as open but have not used it since 2007 when Schwab started charging 3% forex fee on that one after about a year existence with no fee.
I would not be surprised Schwab eventually changes the bene on this card. They did that to its predecessor Visa which I still have it as open but have not used it since 2007 when Schwab started charging 3% forex fee on that one after about a year existence with no fee.
Jan 27, 2010 | 7:28 pm
#1688
Join Date: Feb 2008
Location: MIA
Programs: AA PLT 2mm SPG Gold HH Diamond
Posts: 740
As for Schwab, I tried to look up some details on their site, but they have withdrawn everything do to with the credit card it seems? Then I saw this blog that suggests the 2% is going away. http://bucks.blogs.nytimes.com/2009/...bate-may-fall/
Jan 28, 2010 | 10:52 am
#1689
Join Date: Nov 2009
Posts: 737
sorry
Sorry for adding to this 113 page thread. But why not penfed? I admit I have not read all 113 pages but have searched/glanced enough to know it was a contender with NO fees whatsoever. Schwab does charge the basic 1% right?
Penfed appears to have larger CLs, "no fees" (unless I'm dreaming) and 1% cash back right?
Trying to find an alternative to Scwab, actually to FIA.
Penfed appears to have larger CLs, "no fees" (unless I'm dreaming) and 1% cash back right?
Trying to find an alternative to Scwab, actually to FIA.
Jan 28, 2010 | 10:58 am
#1690
FlyerTalk Evangelist
Join Date: Jul 2003
Posts: 11,377
It's not a bad card, but fee-wise Schwab is better.
Jan 28, 2010 | 4:13 pm
#1692
Join Date: Mar 2004
Location: Rio de Janeiro & Sydney
Programs: AA ExPlat (Lifetime - 5.4MM); UA 1K (1.9MM); Marriott Titanium (Lifetime); Hyatt Globalist
Posts: 209
Sorry for adding to this 113 page thread. But why not penfed? I admit I have not read all 113 pages but have searched/glanced enough to know it was a contender with NO fees whatsoever. Schwab does charge the basic 1% right?
Penfed appears to have larger CLs, "no fees" (unless I'm dreaming) and 1% cash back right?
Trying to find an alternative to Scwab, actually to FIA.
Penfed appears to have larger CLs, "no fees" (unless I'm dreaming) and 1% cash back right?
Trying to find an alternative to Scwab, actually to FIA.
the charles schwab invest first signature visa card does not pass through the 1% surcharge that visa slaps onto foreign charges. it is truly a 0% forex card.
Jan 28, 2010 | 8:41 pm
#1693
Join Date: Nov 2009
Posts: 737
^ Thanks! This is probably attractive enough. Might have to go for this despite FIA.
Jan 29, 2010 | 1:02 pm
#1694
Join Date: Jan 2010
Programs: Delta Hilton Marriott American US Air
Posts: 1
I am charging a lot of stuff in non-US countries, and the foreign exchange fees are starting to become material, so my boss has asked me to reduce my credit card foreign exchange fees. My cards will likely exceed $100K in foreign charges (reimbursed business expenses) in the next 12-18 months.
Jan 29, 2010 | 1:06 pm
#1695
A FlyerTalk Posting Legend
Join Date: Dec 2000
Location: Shanghai
Posts: 46,372
I am charging a lot of stuff in non-US countries, and the foreign exchange fees are starting to become material, so my boss has asked me to reduce my credit card foreign exchange fees. My cards will likely exceed $100K in foreign charges (reimbursed business expenses) in the next 12-18 months.
