Author Topic: Schwab Account (Read 16073 times)

Mikeoracle · « **Reply #20 on:** January 28, 2010, 02:31:31 PM »

I used Amex based on my fathers experience of similar results. I would also like to hear from others but you can count mine as 2 experiences...

I once discussed this with someone who is familiar with international transactions and he explained that CC companies dont all use the same exchange rate so even if one charges a larger % than another they might actually end up being cheaper. I.e. there is always a buy and sell rate that banks and moneychangers use for example at a change place to buy Shekels you would pay $1 for 3.90 NIS and to sell shekels you would get $1 for every 4 NIS (this is just a random example) but a Bank will probably have a larger spread- so in reality they are both charging a percent and the greater percent creates a greater spread.
It seems that Amex's charge is probably similar to what the change place's take so that is why I see similar results. To be honest, I myself am not totaly clear on how this works so I cant vouch for this info just relate my experience...

batzelda1 · « **Reply #21 on:** January 28, 2010, 04:06:37 PM »

you open a brokerage account (for getting the CB) and the credit card online. Im not sure if i have to open up a separate savings account. The only annoying part is you have a separate credit and ATM card.

Its nice that i got visa signature too....2 for 1 fandango tickets!

Mikeoracle · « **Reply #22 on:** January 28, 2010, 04:08:03 PM »

I just looked up an old statement from March 2009 and found a charge for 169nis and they charged me $41.30. I dont remember the exact exchange rate at the time (maybe someone can look it up) but I dont think i was getting anything more than 4.00nis per USD at the time.

LEVKOVIZ YOSEF YAVNA 0 41.30
DAIRY PRODUCTS STORE
Foreign Spend Amount : 169.00 Israeli Shekels

Dan · « **Reply #23 on:** January 28, 2010, 04:08:56 PM »

Quote from: batzelda1 on January 28, 2010, 04:06:37 PM

Its nice that i got visa signature too....2 for 1 fandango tickets!

Ah the deals I can't post for fear of stoning

Chase Sapphire is also Visa signature btw.

batzelda1 · « **Reply #24 on:** January 28, 2010, 05:25:46 PM »

my bad.....

batzelda1 · « **Reply #25 on:** January 28, 2010, 05:27:41 PM »

now that i have my credit card, i just need to get tickets for my wife and me (and debating my 18 month old)

I have miles on a bunch of programs:

120K on Delta
100K membership rewards
180K SPG
70K United
120K AA
70K Continental
200K British Airways

Im trying to find the best deal I can for the week of march 7th....i might wait one more week to see the FB specials

Daniel · « **Reply #26 on:** January 29, 2010, 01:33:35 AM »

Quote from: Mikeoracle on January 28, 2010, 04:08:03 PM

I just looked up an old statement from March 2009 and found a charge for 169nis and they charged me $41.30. I dont remember the exact exchange rate at the time (maybe someone can look it up) but I dont think i was getting anything more than 4.00nis per USD at the time.

LEVKOVIZ YOSEF YAVNA 0 41.30
DAIRY PRODUCTS STORE
Foreign Spend Amount : 169.00 Israeli Shekels

What's the exact date, then I can look up the Shaar Yatzig rate and compare.

Mikeoracle · « **Reply #27 on:** January 29, 2010, 09:14:14 AM »

I believe i charged it on 3/24/09 or 3/25/09 but the charge shows up on my bill on 3/30/09- it seems it took a few days for it to show up on my account but dont know if they used the rate of the day it was charged or on 3/30....

SuperFlyer · « **Reply #28 on:** March 14, 2010, 11:12:43 AM »

Amex has very high exchange rates, visa mastercard I much better in this sense. but if Dan say a SPG could be worth $0.05, then he can use it, o/w I'd switch.

The last couple of month, they wrote on my only bill how much the the difference was between their rates and the actual conversions.

As the sums involved were pretty decent ones, I paid often well over $300-500 just in amex charges for single transactions.

this hurts....

aygart · « **Reply #29 on:** April 11, 2010, 07:38:39 PM »

Fidelity Invesments has a similar 2 percent AmEx

mancunian · « **Reply #30 on:** April 28, 2010, 02:36:56 AM »

i looked last week to apply for this, its totally gone

batzelda1 · « **Reply #31 on:** April 28, 2010, 05:59:23 AM »

Just try calling up schwab directly. Its been off their website for close to 6 months but i still got it

mancunian · « **Reply #32 on:** April 28, 2010, 12:16:40 PM »

this is what i was referring to from the ny times:

"Back in December, I warned that Charles Schwab’s generous 2 percent cash rebate credit card was in jeopardy. And sure enough, the company pulled the plug two weeks ago. It’s not accepting new applications for the card, though the company isn’t currently making any changes to the rewards structure for existing cardholders."

http://bucks.blogs.nytimes.com/2010/04/16/charles-schwab-stops-offering-2-percent-credit-cards/?src=busln

Daniel · « **Reply #33 on:** September 22, 2010, 12:59:53 PM »

Just got a letter from Schwab saying they are dropping the card completely and giving it over to FIA card Services (aka BOA / MBNA) - Let's see how long it takes until this card is worthless!

Mikeoracle · « **Reply #34 on:** September 22, 2010, 02:52:16 PM »

The Fidelity 2% CB still seems alive and well;
http://personal.fidelity.com/products/checking/content/amex_rewards_card.shtml.cvsr?showcard=all

Daniel · « **Reply #35 on:** September 22, 2010, 03:04:35 PM »

It's not the 2% .
It's the zero foreign transaction fees. Please don't say capital one!

Chaikel · « **Reply #36 on:** September 22, 2010, 05:53:35 PM »

Capital one

gozalim · « **Reply #37 on:** October 07, 2010, 09:30:39 PM »

Quote from: Daniel on September 22, 2010, 12:59:53 PM

Just got a letter from Schwab saying they are dropping the card completely and giving it over to FIA card Services (aka BOA / MBNA) - Let's see how long it takes until this card is worthless!

an upshot of the recent change is that it seems now you can have the cashback deposited in ANY bank account-not necessarily the schwab brokerage (although with ATM fee refunds and free checks- they're a pretty good checking account)

herbie · « **Reply #38 on:** October 31, 2010, 01:51:05 PM »

I Have been using Scwab at ATM machines in Israel for over a year now and have gotten perfect rate Hope they continue!!!

elikay · « **Reply #39 on:** October 31, 2010, 04:29:54 PM »

In the summer I used both Schwab and TD (both Visa) in Israel, and got the exact same rate.