Author Topic: Foreign Transaction Fee (Read 26275 times)

shemaya770 · « **Reply #20 on:** June 12, 2008, 03:01:40 PM »

Whats the best way to use your starwoods points and get the most for the value?

moish · « **Reply #21 on:** June 12, 2008, 03:16:17 PM »

Quote from: Dan on June 12, 2008, 01:39:53 PM

That's a silly argument, rates can always go up or down and nobody knows which way it will go or else they'd be millionaires! If you know when rates will go up or down then go into the foreign exchange trade!

Besides when exchanging money you are charged a percentage up front, even if you don't use all of that money, while on a CC you are only charged 2% on what you spend, and then you get Starpoints that at least for me are always worth more than 2%.

Besides, I had 2 charges in Israel that I rightfully disputed and won, and 1 item that I didn't like and returned to AMEX with the Starwood card's return privilege. If I had paid in cash those all would've been lost.

i never said there are no merits in using the spg card because there clearly are such as the ones you mentioned however in a situation like whats been going on in israel for the better part of a year where the dollar has been falling like a hot potato i dont think its a "no brainer" to use the card over changing money there is potential to save a lot by changing it all right away and thats a decision the one visiting has to make

Dan · « **Reply #22 on:** June 12, 2008, 03:26:56 PM »

Quote from: moish on June 12, 2008, 03:16:17 PM

i never said there are no merits in using the spg card because there clearly are such as the ones you mentioned however in a situation like whats been going on in israel for the better part of a year where the dollar has been falling like a hot potato i dont think its a "no brainer" to use the card over changing money there is potential to save a lot by changing it all right away and thats a decision the one visiting has to make

I guess I'm not understanding your argument...If you're so sure that the dollar will fall during a short period of time you should be investing in the foreign exchange markets, not changing money in Israel!

The dollar has just as good of a chance of going up as it does of going down in the short-term versus any given currency based of a myriad of factors, that has nothing to do with whether you should spend cash or use a credit card when traveling.

Just to add another reason to use a credit card while traveling, is that you're not out anything if you get pickpocketed, the same can't be said of cash.

corny · « **Reply #23 on:** June 13, 2008, 01:17:33 PM »

Quote from: jef4320 on June 12, 2008, 07:57:23 AM

I just looked at my credit score and there was a limit reported on my Capital One account

one time when i checked my credit report under the limit on capital one it said n.a. and the other time it said the exact amount of the most i spent not the limit

corny · « **Reply #24 on:** June 13, 2008, 01:41:14 PM »

it says online that they were supposed to start reporting the limit like a year ago http://www.signonsandiego.com/uniontrib/20070805/news_1h05harney.html
so maby they started i dont know

ev · « **Reply #25 on:** June 15, 2008, 09:14:48 AM »

I am surprised at this form, with some many deal hunters here it is suppressing that they don't know more about this topic. I have a Household/Orchard bank CC that pays 2% on ALL purchases and according to the Reps which I called on two separate times there is no exchange fee for international purchases, although I have yet to confirm this myself. Another card that I think has no exchange fee is the Clear card from Amex plus it pays 1% on all purchases. A debit card that has no exchange fee is the Charles Schwab card. For more info about the the 2% orchard bank card search the net, I have mine w/o any annual fee. Sorry I don't have time.

Dan · « **Reply #26 on:** June 15, 2008, 09:34:47 AM »

Orchard bank: The Foreign Transaction Fee is 3% of the U.S. dollar amount on transactions made in a foreign currency.
Anyway I didn't see any 2% rebate card on www.orchardbank.com but I saw tons of downright scary fine print on the rest of their cards!

AMEX Clear has the same 2% foreign fee that the Starwood AMEX and every other AMEX has.

And who would ever use a debit card for anything-those things are horrible.

Other Guy · « **Reply #27 on:** June 24, 2008, 11:43:35 AM »

The card that ruins your credit is the AA MC, because they give you "revolving" credit, your credit is unlimited and thus unreported!

Smirk · « **Reply #28 on:** June 24, 2008, 03:47:59 PM »

When i was in israel i used a chase card, i dont remember exactly which one i think it was the freedom but there were no surcharges

Dan · « **Reply #29 on:** June 24, 2008, 03:50:37 PM »

Quote from: AS on June 24, 2008, 03:47:59 PM

When i was in israel i used a chase card, i dont remember exactly which one i think it was the freedom but there were no surcharges

Chase definitely charges a 3% fee. It's built into the charge.

Smirk · « **Reply #30 on:** June 24, 2008, 03:55:42 PM »

maybe it was a glitch but im 100% sure i didnt get any surcharges

Dan · « **Reply #31 on:** June 24, 2008, 04:05:17 PM »

Quote from: AS on June 24, 2008, 03:55:42 PM

maybe it was a glitch but im 100% sure i didnt get any surcharges

How could you be 100% sure???

It's just built into the stated exchange rate on the statement.

Smirk · « **Reply #32 on:** June 24, 2008, 04:09:27 PM »

im sorry i take that back, that could be

coralsnake · « **Reply #33 on:** June 26, 2008, 12:16:08 AM »

Quote from: AS on June 24, 2008, 03:55:42 PM

maybe it was a glitch but im 100% sure i didnt get any surcharges

As with AMEX, when I returned from Israel, the statement has the price in shekels and in dollars- no exchange fee.

But if you look, somewhere on that statement it clearly says in fine print ** Foreign Currency conversion rate is base rate plus 2%

So all in all, I think even with Amex's 2% they seem to be giving a more favorable exchange rate.

Smirk · « **Reply #34 on:** June 26, 2008, 02:18:37 AM »

i hear that, makes sense

Aviva · « **Reply #35 on:** September 24, 2008, 03:07:41 PM »

Capital One?

Yoel · « **Reply #36 on:** September 24, 2008, 05:27:45 PM »

Quote from: corny on June 06, 2008, 01:45:52 PM

since they do not give your credit limit to the credit bureau [as you can see in your credit report] the credit bureau assumes that the most you spent is your credit limit, and they have it down that you used up 100% of your credit limit which is really bad for your credit.
this is what i was told, im not sure if this is a fact if anyone knows more about this please add

On my credit report Citibank does not report my credit line, which hurts my score I believe, does anyone else experience this?

Crazy tools · « **Reply #37 on:** May 26, 2010, 12:53:40 AM »

does any one know if capital one started reporting the credit limit to the credit bureu?

also the TD debit card has no foreign transaction fee.

elikay · « **Reply #38 on:** May 26, 2010, 10:28:09 AM »

WOW WHAT A BUMP!!!

jack12 · « **Reply #39 on:** July 09, 2012, 08:40:02 AM »

I just got a letter in the mail from capital one with changes to account terms effective 8/15/12.

"capital one bank branded atm's within the US are always free, but an international transaction fee applies at atm's abroad:
- withdrawals from atm's outside the US, peurto rico, and the us virgin islands will incur a 3.00% transaction fee"