Best card for foreign exchange?
May 11, 2005 | 9:12 pm
#226
Join Date: Jan 2003
Location: NYC
Posts: 8,688
Originally Posted by Boraxo
Good luck getting a VISA delivered on a platter at the pool as they used to show in the TV commercials. You'll be lucky if you can get your bank to fedex it to your billing address. 
May 12, 2005 | 6:26 pm
#227
Join Date: May 2005
Posts: 13
Amex charges 2% on the current AMEX exchange rate. Is the AMEX rate different (less bang for the buck) from the standard rate out there?
May 12, 2005 | 7:21 pm
#228
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Originally Posted by cosmax
Amex charges 2% on the current AMEX exchange rate. Is the AMEX rate different (less bang for the buck) from the standard rate out there?
May 15, 2005 | 10:32 am
#229
Join Date: Apr 2005
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IF Visa is Bad Chase MC is Worse.
Originally Posted by Boraxo
Good luck getting a VISA delivered on a platter at the pool as they used to show in the TV commercials. You'll be lucky if you can get your bank to fedex it to your billing address.
As for the best card AMEX usually doesnt seem too bad now that MBNA Platinum Plus Cards are about to get Dumped due to the ForEx increase even though I have yet to get the notice mailed to me in China
Oh the Speedy CHINA POST 
-UFFA
Last edited by UnitedFFinAsia; May 15, 2005 at 10:35 am Reason: To apply additional topic relating to thread topic
May 16, 2005 | 10:10 pm
#230
Join Date: Mar 2003
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Originally Posted by Boraxo
I think this is the usual BS from Amex, but I don't have the card so I haven't wasted time trying to get a straight answer from the Bangalore call center.
With a regular AMEX card, the markup is at least 2%, and that is on top of a mediocre exchange rate.
[Yes, in my personal experience, it was mediocre and far below the WSJ wholesale rates or the rates used by VISA/MC]. I can't imagine why Amex would spend money to implement a different system for processing MBNA transactions or why they would treat MBNA customers better than their own.
SNIP
With a regular AMEX card, the markup is at least 2%, and that is on top of a mediocre exchange rate.
[Yes, in my personal experience, it was mediocre and far below the WSJ wholesale rates or the rates used by VISA/MC]. I can't imagine why Amex would spend money to implement a different system for processing MBNA transactions or why they would treat MBNA customers better than their own.SNIP
May 16, 2005 | 11:15 pm
#231
Suspended
Join Date: Jan 2003
Posts: 8,720
Originally Posted by cosmax
Amex charges 2% on the current AMEX exchange rate. Is the AMEX rate different (less bang for the buck) from the standard rate out there?
May 17, 2005 | 12:18 am
#232
Join Date: Oct 1999
Location: NYC
Posts: 1,094
It's more like 2.5%-3%
Originally Posted by littleleaguemom
Whatever Amex says they do, I've found the charge on my statement is about 3% more than the interbank rate for the day and 1% more than Diners Club and 2% more than MBNA, both before the latest switcheroo.
Based on my calculation AMEX charges 2.5%-3% more than interbank rate. But since AMEX does not disclose which date is used to calculate the conversion, I have not been able to figure out the exact markup. I did notice that for countries that peg their currency to US$, AMEX's conversion rate could still vary by .25%, based on the date of the transaction.
AMEX may not be the one with the most markup nowadays, but they certainly are the worst in terms of disclosure.
May 20, 2005 | 7:05 pm
#233
Join Date: Dec 2000
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Originally Posted by robbert
My recent charges in Canada on AMEX SPG came out to about a 2% surcharge compared to the (fee-free) ATM exchange rate of $0.7955.
^!I've put my *wood Amex away until I get back to the USA.
May 20, 2005 | 8:23 pm
#234
Join Date: Apr 2004
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Originally Posted by Brendan
Robbert, I am in Canada now. My Citibank HHonors Visa is processing purchases @ 79 cents US, which is the present mid-market rate & NO FEE ^!
I've put my *wood Amex away until I get back to the USA.
^!I've put my *wood Amex away until I get back to the USA.
May 21, 2005 | 12:36 am
#235
Join Date: Jan 2005
Location: New York
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Posts: 1,598
Originally Posted by wahooflyer
Don't count on the no fee part. Now that Citi considers the 3% foreign exchange fee a "finance charge," it may not show up until the end of your statement cycle, just like interest charges.
http://www.flyertalk.com/forum/showthread.php?t=432114
I personally have charged a few things to Citi last month and this month. All of the purchases have shown up around a 0% conversion charge. And my statement last month did not include any additional finance charges at the end. I'll be really pissed if I get hit with conversion charges 3 months down the road or something...
May 22, 2005 | 12:51 pm
#236
Join Date: May 2005
Posts: 13
How is the exchange mark-up for MBNA-issued cards? Is the rate better than American Express'?
I know they charge a 3% fee already.
^
I know they charge a 3% fee already.
^
May 22, 2005 | 1:24 pm
#237
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It looks like MBNA has moved some, and likely is moving the rest of its cards to 3%. It looks like Amex is generally 2%. So it looks to me that the GENERAL statement is that AmEx is 1% better than MBNA, though it is likely that there are still specific exceptions.
May 22, 2005 | 4:42 pm
#238
Original Member
Join Date: May 1998
Posts: 2,513
Originally Posted by 925
It looks like MBNA has moved some, and likely is moving the rest of its cards to 3%.
Thanks.
May 22, 2005 | 5:27 pm
#239
Join Date: Jul 2004
Location: Lodi, CA
Posts: 592
Originally Posted by pgary
Please share your evidence of the bolded part of your statement. I have received no notice that MBNA will change its AAA card to 3%.
Thanks.
Thanks.
May 23, 2005 | 5:46 am
#240
Join Date: May 2005
Posts: 33
Originally Posted by maulah
And do you also know what other MBNA cards do not charge 3%? This is so confusing?
MBNA has not sent out notice for any of these cards. Until they do, they are staying in my wallet.