Best card for foreign exchange?
Nov 20, 2011, 12:06 am
#2056
FlyerTalk Evangelist
Join Date: Jul 2003
Posts: 11,377
(Navy Federal has restrictive membership, but not Pentagon Federal.)
Nov 20, 2011, 11:38 pm
#2057
Join Date: Oct 2006
Location: Okinawa
Posts: 2,611
Not at all: options 8 and 9 are open to all who are willing to join an association for a year. http://PenFed.org/JoinUs
(Navy Federal has restrictive membership, but not Pentagon Federal.)
(Navy Federal has restrictive membership, but not Pentagon Federal.)
Nov 27, 2011, 12:05 am
#2058
FlyerTalk Evangelist
Join Date: Dec 2002
Location: Danville, CA, USA;
Programs: UA 1MM, WN CP, Marriott LT Plat, Hilton Gold, IC Plat
Posts: 15,722
Interesting forex rates from BofA earlier this month:
AUS $100 withdrawn at WestPac (Global ATM network) converts to $101.32, better ^ than Oanda quote of $102.82 for posting date (rate was similar for days before/after).
AUS $40 withdrawn at Westpac converted to UA $40.12, again better ^ than Oanda quote of $40.50.
However July withdrawal of UK 50 at Barclays (Global ATM network) converted to US $80.59, approx. 1% worse than Oanda.
Can't really complain as the spread between buy/sell at Sydney Airport was 8%
And no ATM fees at Global ATM network. 
Addendum: Citibank still charging 3% forex at its own ATMs
AUS $100 withdrawn at WestPac (Global ATM network) converts to $101.32, better ^ than Oanda quote of $102.82 for posting date (rate was similar for days before/after).
AUS $40 withdrawn at Westpac converted to UA $40.12, again better ^ than Oanda quote of $40.50.
However July withdrawal of UK 50 at Barclays (Global ATM network) converted to US $80.59, approx. 1% worse than Oanda.
Can't really complain as the spread between buy/sell at Sydney Airport was 8%
And no ATM fees at Global ATM network. Addendum: Citibank still charging 3% forex at its own ATMs
Last edited by Boraxo; Feb 5, 2012 at 12:17 am
Jan 26, 2012, 10:36 am
#2059
Join Date: Jan 2002
Location: Seattle, WA
Programs: AS MVPG, Hyatt Discoverist, Hilton Gold
Posts: 3,399
I was in Canada over New Years and used both my SPG Amex and my British Airways Visa. I paid $168.00 CAD at the Westin with my SPG Amex. My converted cost was $165.19 + $4.46 foreign transaction fee for a total of $169.65 USD. If I used the exchange rate I was charged for the same date on my no fee BA Visa, the same charge would have cost me $165.28 USD. The difference would have been $4.37 or roughly the amount of the foreign transaction fee.
This little comparison would suggest that the no fee BA Visa isn't making up the difference by charging a less favorable exchange rate.
This little comparison would suggest that the no fee BA Visa isn't making up the difference by charging a less favorable exchange rate.
Jan 26, 2012, 5:56 pm
#2061
Original Member
Join Date: May 1998
Location: Tampa, FL
Programs: AAMM & PLT; UA Gold, DL Silver, Marriott LT Titanium Elite, Hilton Diamond, Hertz #1 Gold Club
Posts: 1,591
Not at all: options 8 and 9 are open to all who are willing to join an association for a year. http://PenFed.org/JoinUs
(Navy Federal has restrictive membership, but not Pentagon Federal.)
(Navy Federal has restrictive membership, but not Pentagon Federal.)
Jan 27, 2012, 1:41 pm
#2062
Join Date: Jul 2010
Posts: 305
Easy. CIBC Dividend Card hands down. Had the card for almost 20 years. Used it all over the world. Never paid a cent in forex fees. Plus 1% back on all purchases. Get it and love it!
Jan 27, 2012, 2:13 pm
#2063
Join Date: Jan 2003
Location: NYC
Posts: 8,498
Is that card available in the US? Also, it looks like there's a 2.5% forex fee on new accounts, so maybe yours is grandfathered?
Jan 27, 2012, 2:17 pm
#2064
Join Date: Jul 2010
Posts: 305
Must be. Its a CAD card, but my sons both have gotten the card while living in the US.
Feb 2, 2012, 9:11 am
#2066
Join Date: Jan 2003
Location: NYC
Posts: 8,498
Old Schwab Invest First Visa accounts that are were converted to Bank Americards were grandfathered without any foreign transaction fee. The same Bank Americard product if opened as a new account directly with BOA would have the 3% FTF (as do the vast majority of BOA credit card products).
Feb 3, 2012, 9:24 am
#2067
Join Date: Oct 2007
Location: EWR/TLV
Programs: UA 1K/MM, DL PM
Posts: 53
Old Schwab Invest First Visa accounts that are were converted to Bank Americards were grandfathered without any foreign transaction fee. The same Bank Americard product if opened as a new account directly with BOA would have the 3% FTF (as do the vast majority of BOA credit card products).
Feb 3, 2012, 10:50 am
#2068
Join Date: Jan 2003
Location: NYC
Posts: 8,498
I don't think anybody will know until they send us a letter saying it's changing. Could be tomorrow, could be next year, or it could never happen. But I believe that by law they're required to disclose it in advance of changing the terms at which point you can opt to cancel your account if you don't want to accept the new terms.
Feb 4, 2012, 4:54 pm
#2069
Join Date: Oct 2007
Location: EWR/TLV
Programs: UA 1K/MM, DL PM
Posts: 53
I don't think anybody will know until they send us a letter saying it's changing. Could be tomorrow, could be next year, or it could never happen. But I believe that by law they're required to disclose it in advance of changing the terms at which point you can opt to cancel your account if you don't want to accept the new terms.
Feb 5, 2012, 12:21 pm
#2070
Join Date: Jul 2009
Location: SFO
Programs: AA Plat, IHG Plat, HH Diamond, Hyatt Plat, Hertz Gold
Posts: 1,933
Old Schwab Invest First Visa accounts that are were converted to Bank Americards were grandfathered without any foreign transaction fee. The same Bank Americard product if opened as a new account directly with BOA would have the 3% FTF (as do the vast majority of BOA credit card products).