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#1
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Credit Card Billing/Exchange Rate Warning
I have just returned from Ireland and UK and noted that when a credit
card is used in a hotel or restaurant many organizations will attempt to bill the card in US Dollars using their own inflated exchange rate. It is important to specifically request that the card be billed in the countries currency to ensure that you will get the best rate for that day directly from the card issuer. Additionally, in Ireland, on one attempt to charge me in Dollars was a note that stated I accepted an additional 3.5% fee for accepting the bill in dollars. I ripped it up and requested to be billed in Euros. Also, if you accept fast check out at hotels you will more than likely be billed in Dollars and incur the bad exchange rate and extra fee. Always request to be billed in the home currency when using credit cards in Europe to avoid the problem. |
#2
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Credit Card Billing/Exchange Rate Warning
jim wrote in news:1184420787.249284.289050
@g12g2000prg.googlegroups.com: I have just returned from Ireland and UK and noted that when a credit card is used in a hotel or restaurant many organizations will attempt to bill the card in US Dollars using their own inflated exchange rate. It is important to specifically request that the card be billed in the countries currency to ensure that you will get the best rate for that day directly from the card issuer. Additionally, in Ireland, on one attempt to charge me in Dollars was a note that stated I accepted an additional 3.5% fee for accepting the bill in dollars. I ripped it up and requested to be billed in Euros. Also, if you accept fast check out at hotels you will more than likely be billed in Dollars and incur the bad exchange rate and extra fee. Always request to be billed in the home currency when using credit cards in Europe to avoid the problem. Actaully on many credit cards you will be charged about the smae forthe scurrency tranfer from Euro to dollars so you will not gain a thing. -- Joseph Coulter cruises and vacations www.josephcoulter.com 877 832 2021 904 631 8863 cell |
#3
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Credit Card Billing/Exchange Rate Warning
Thus spake Joseph Coulter yourDROPTHIS2comcast.net :
jim wrote in news:1184420787.249284.289050 : I have just returned from Ireland and UK and noted that when a credit card is used in a hotel or restaurant many organizations will attempt to bill the card in US Dollars using their own inflated exchange rate. It is important to specifically request that the card be billed in the countries currency to ensure that you will get the best rate for that day directly from the card issuer. Additionally, in Ireland, on one attempt to charge me in Dollars was a note that stated I accepted an additional 3.5% fee for accepting the bill in dollars. I ripped it up and requested to be billed in Euros. Also, if you accept fast check out at hotels you will more than likely be billed in Dollars and incur the bad exchange rate and extra fee. Always request to be billed in the home currency when using credit cards in Europe to avoid the problem. Actaully on many credit cards you will be charged about the smae forthe scurrency tranfer from Euro to dollars so you will not gain a thing. I've never been charged anything but local currency. At least my card only charges a small percentage for the exchange. The exchange rate was realistic (not some inflated profit inducing rate). OTOH, I am a "prefered customer" (WTF that means). I'm also what's known as a deadbeat in the CC industry. We pay our bills every month. -- dillon Broadway Photo sucks. Ask me why. |
#4
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Credit Card Billing/Exchange Rate Warning
Dillon Pyron wrote in
: Thus spake Joseph Coulter yourDROPTHIS2comcast.net : Actaully on many credit cards you will be charged about the same for the currency tranfer from Euro to dollars so you will not gain a thing. (edited to make my typing look better) I've never been charged anything but local currency. At least my card only charges a small percentage for the exchange. The exchange rate was realistic (not some inflated profit inducing rate). OTOH, I am a "prefered customer" (WTF that means). I'm also what's known as a deadbeat in the CC industry. We pay our bills every month. I have the same experience although I have seen such offers in Mexico. Nevertheless, the overall price after any and all fees is what a consumer must look at.) -- Joseph Coulter cruises and vacations www.josephcoulter.com 877 832 2021 904 631 8863 cell |
#5
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Credit Card Billing/Exchange Rate Warning
Joseph Coulter yourDROPTHIS2comcast.net wrote:
Dillon Pyron wrote in : Thus spake Joseph Coulter yourDROPTHIS2comcast.net : Actaully on many credit cards you will be charged about the same for the currency tranfer from Euro to dollars so you will not gain a thing. (edited to make my typing look better) I've never been charged anything but local currency. At least my card only charges a small percentage for the exchange. The exchange rate was realistic (not some inflated profit inducing rate). OTOH, I am a "prefered customer" (WTF that means). I'm also what's known as a deadbeat in the CC industry. We pay our bills every month. I have the same experience although I have seen such offers in Mexico. Nevertheless, the overall price after any and all fees is what a consumer must look at.) I was asked if I wanted the bills to show dollars or euros. Although I said dollars, the exchange was still done from euros to dollars by my credit card company. When I asked my credit card company about it they said that it didn't matter how the bill was written up by the seller. The credit card company processed it the same way. And that has been my experience in the past also. I would just make sure that the credit card you use charges only the minimum conversion fee which is 1%. Some banks add on another 2% extra for themselves. Also, when you get cash at the bank or airport or exchange kiosk, if you give them a debit card, there won't be an interest charge on it like there would be if you use a credit card. |
#6
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Credit Card Billing/Exchange Rate Warning
Thus spake Rosalie B. :
Joseph Coulter yourDROPTHIS2comcast.net wrote: Dillon Pyron wrote in m: Thus spake Joseph Coulter yourDROPTHIS2comcast.net : Actaully on many credit cards you will be charged about the same for the currency tranfer from Euro to dollars so you will not gain a thing. (edited to make my typing look better) I've never been charged anything but local currency. At least my card only charges a small percentage for the exchange. The exchange rate was realistic (not some inflated profit inducing rate). OTOH, I am a "prefered customer" (WTF that means). I'm also what's known as a deadbeat in the CC industry. We pay our bills every month. I have the same experience although I have seen such offers in Mexico. Nevertheless, the overall price after any and all fees is what a consumer must look at.) I was asked if I wanted the bills to show dollars or euros. Although I said dollars, the exchange was still done from euros to dollars by my credit card company. When I asked my credit card company about it they said that it didn't matter how the bill was written up by the seller. The credit card company processed it the same way. And that has been my experience in the past also. I would just make sure that the credit card you use charges only the minimum conversion fee which is 1%. Some banks add on another 2% extra for themselves. Also, when you get cash at the bank or airport or exchange kiosk, if you give them a debit card, there won't be an interest charge on it like there would be if you use a credit card. Our credit union only charged us a quarter per cent when we drew money out of our account in Australia. The ATMs down there charged 2 AUS dollars. When we were in Cozumel for a week long diving trip, we went into town one evening and looked at some blouses. Carol found one she liked at $20. I pulled out the credit card and she said it would be 220 pesos. I pulled the credit card back. One of the women said, in Spanish, "we only paid 1200 for it. Offer him 1900". I immediately said, in Spanish, "1500". Which is what we paid for it. -- dillon Broadway Photo sucks. Ask me why. |
#7
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Credit Card Billing/Exchange Rate Warning
Thus spake Dillon Pyron :
Thus spake Rosalie B. : Joseph Coulter yourDROPTHIS2comcast.net wrote: Dillon Pyron wrote in : Thus spake Joseph Coulter yourDROPTHIS2comcast.net : Actaully on many credit cards you will be charged about the same for the currency tranfer from Euro to dollars so you will not gain a thing. (edited to make my typing look better) I've never been charged anything but local currency. At least my card only charges a small percentage for the exchange. The exchange rate was realistic (not some inflated profit inducing rate). OTOH, I am a "prefered customer" (WTF that means). I'm also what's known as a deadbeat in the CC industry. We pay our bills every month. I have the same experience although I have seen such offers in Mexico. Nevertheless, the overall price after any and all fees is what a consumer must look at.) I was asked if I wanted the bills to show dollars or euros. Although I said dollars, the exchange was still done from euros to dollars by my credit card company. When I asked my credit card company about it they said that it didn't matter how the bill was written up by the seller. The credit card company processed it the same way. And that has been my experience in the past also. I would just make sure that the credit card you use charges only the minimum conversion fee which is 1%. Some banks add on another 2% extra for themselves. Also, when you get cash at the bank or airport or exchange kiosk, if you give them a debit card, there won't be an interest charge on it like there would be if you use a credit card. Our credit union only charged us a quarter per cent when we drew money out of our account in Australia. The ATMs down there charged 2 AUS dollars. When we were in Cozumel for a week long diving trip, we went into town one evening and looked at some blouses. Carol found one she liked at $20. I pulled out the credit card and she said it would be 220 pesos. I pulled the credit card back. One of the women said, in Spanish, "we only paid 1200 for it. Offer him 1900". I immediately said, in Spanish, "1500". Which is what we paid for it. Make that 120, 190 and 150. I was touch typing and talking on the phone. -- dillon Broadway Photo sucks. Ask me why. |
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