Best card for foreign exchange?
Sep 28, 2011, 11:23 am
#2041
Suspended
Join Date: Oct 2004
Location: Bay Area
Programs: DL SM, UA MP.
Posts: 12,729
Just a single data point: I used the Chase Sapphire UR Visa for a forex transaction today, and I received a rate that was roughly 1.30% higher than xe.com. This will result in an extra $2 expense for me, so I'm not going to worry too much about it, but in the future I'll either use Schwab, as long as terms haven't changed, or (gasp!) Cap1, as I never noticed such a high discrepancy with other no fee card before.
Sep 28, 2011, 8:47 pm
#2042
Original Member, Ambassador: OneWorld Alliance
Join Date: May 1998
Location: Austin, TX, USA
Programs: AA ExecPlat & 3MM; Marriott Titanium
Posts: 1,015
Just a single data point: I used the Chase Sapphire UR Visa for a forex transaction today, and I received a rate that was roughly 1.30% higher than xe.com. This will result in an extra $2 expense for me, so I'm not going to worry too much about it, but in the future I'll either use Schwab, as long as terms haven't changed, or (gasp!) Cap1, as I never noticed such a high discrepancy with other no fee card before.
yes, even if you pay in USD outside the US) fee 
Sep 29, 2011, 6:19 am
#2043
Join Date: Sep 1999
Location: too far from the airport
Posts: 3,298
Yes, it's the Chase Preferred UR Sapphire etc. etc. Visa. And I think what happened was that the forex rate used for my transaction was the highest (i.e., least advantageous to me) of the last 24 hrs, and it was a day when the currency fluctuated a lot. So there wasn't a 1% surcharge as I suspected, but I don't know if it was just bad luck or if the use of the highest forex rate in 24 hrs is part of a systematic approach by Chase. I guess I'll try to have some more transactions and see if I can discern a pattern.
In any case, I won't be using the Schwab card after October (thanks for the warning, we did get a letter), but my Cap1 cards are still in good working order and are an acceptable substitute if nothing else works as well.
In any case, I won't be using the Schwab card after October (thanks for the warning, we did get a letter), but my Cap1 cards are still in good working order and are an acceptable substitute if nothing else works as well.
Sep 30, 2011, 7:01 pm
#2044
Join Date: Jan 2003
Location: NYC
Posts: 8,498
The problem with xe.com and oanda.com is that they only give you a single exchange rate for a day.
Ideally you want to get a chart (from a service like Bloomberg, if you have access) of the full trading range for the day on which your POS transaction posts or the day on which your ATM transaction actually occurred.
Ideally you want to get a chart (from a service like Bloomberg, if you have access) of the full trading range for the day on which your POS transaction posts or the day on which your ATM transaction actually occurred.
Sep 30, 2011, 8:08 pm
#2045
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Sep 30, 2011, 8:43 pm
#2046
Join Date: Sep 2009
Posts: 5,051
I was checking a fare on Orbitz and noticed they are advertising an Orbitz card from Capitol 1 with no foreign transaction fee. Might be worth getting before a next European trip. For me, that is.
Oct 1, 2011, 7:08 pm
#2047
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Oct 1, 2011, 9:57 pm
#2048
Join Date: Aug 2008
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Posts: 1,874
Discover's supposed to be dropping the forex fee soon, though they're only really good for China-bound travelers (wider acceptance, avoidance of forced DCC).
Oct 2, 2011, 3:50 pm
#2049
Join Date: Jul 2001
Posts: 3,975
Discover is supposed to be accepted in Europe where Diners Club International is. When I had a Diners U.S. card it had reasonable acceptance in Europe, but I haven't paid attention since I dropped the Diners card some years ago.
Oct 7, 2011, 6:57 am
#2050
Join Date: May 2010
Posts: 148
I know about the Schwab Investor Checking no forex/ATM fee rebates, but I wanted to know if that extends to the Schwab Savings account too?
On their website, they state that Schwab Savings account you do get ATM fee rebates from withdrawals, but does anyone know if they have to 0% forex like the Checking account?
On their website, they state that Schwab Savings account you do get ATM fee rebates from withdrawals, but does anyone know if they have to 0% forex like the Checking account?
Oct 7, 2011, 10:16 am
#2051
Join Date: Jun 1999
Location: Rio de Janeiro, BRAZIL
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Oct 8, 2011, 9:00 pm
#2052
Join Date: Sep 2009
Posts: 5,051
I don't know about that first restriction, but the second one comes from bank law. No one will beat that.
Nov 18, 2011, 10:15 pm
#2053
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Join Date: Jul 2003
Location: Yiron, Israel
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I have a Visa debit card from Ameritrade which I have never used outside of the US and out of curiosity I wrote to them yesterday to ask if it is valid in Europe.
I received the following reply:
I received the following reply:
Yes, you are able to use your Visa debit card in Europe. TD Ameritrade will not charge any foreign conversion fees, however you will be responsible for any fees charged by ATM's outside of the United States.
Nov 19, 2011, 7:21 pm
#2055
Join Date: Sep 2005
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But difficult to join, if not affiliated with Govt/Military, correct?
Note that the Chase Presidential Plus card now has no forex fees and also covers auto rentals - not sure - just saw it a few days ago: http://www.continental.com/web/en-US...dservices.aspx (I couldn't find the T&Cs stipulating car rental collision cover, but according to FT posts, it does cover it)
Note that the Chase Presidential Plus card now has no forex fees and also covers auto rentals - not sure - just saw it a few days ago: http://www.continental.com/web/en-US...dservices.aspx (I couldn't find the T&Cs stipulating car rental collision cover, but according to FT posts, it does cover it)