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Check the credit card fine print
Just got an update of new charges from my Visa from FIA. They are now
charging 2% fee for *ALL* out of US charges and not just those requiring currency conversion. An important consideration in this group. -- "Distracting a politician from governing is like distracting a bear from eating your baby." --PJ O'Rourke |
#2
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Check the credit card fine print
On 4/22/2009 10:29 AM, Kurt Ullman wrote:
Just got an update of new charges from my Visa from FIA. They are now charging 2% fee for *ALL* out of US charges and not just those requiring currency conversion. An important consideration in this group. I just got a change notice from BoA (I think) and they are doing the same thing, except their charge is 3%! Are there any cards which don't rip you off on this stuff anymore? I also need to know for my upcoming Med cruise. Bill |
#3
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Check the credit card fine print
In article , Bill
wrote: On 4/22/2009 10:29 AM, Kurt Ullman wrote: Just got an update of new charges from my Visa from FIA. They are now charging 2% fee for *ALL* out of US charges and not just those requiring currency conversion. An important consideration in this group. I just got a change notice from BoA (I think) and they are doing the same thing, except their charge is 3%! Are there any cards which don't rip you off on this stuff anymore? I also need to know for my upcoming Med cruise. Bill Maybe one through a local bank. I could more or less understand the one for exchanging currency. I'd have to do that with cash, but just to get it transmitted back on shore. I'll be taking along more cash my next run through the Caribbean. -- "Distracting a politician from governing is like distracting a bear from eating your baby." --PJ O'Rourke |
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Check the credit card fine print
Kurt Ullman wrote:
In article , Bill wrote: On 4/22/2009 10:29 AM, Kurt Ullman wrote: Just got an update of new charges from my Visa from FIA. They are now charging 2% fee for *ALL* out of US charges and not just those requiring currency conversion. An important consideration in this group. I just got a change notice from BoA (I think) and they are doing the same thing, except their charge is 3%! Are there any cards which don't rip you off on this stuff anymore? I also need to know for my upcoming Med cruise. Bill Maybe one through a local bank. I could more or less understand the one for exchanging currency. I'd have to do that with cash, but just to get it transmitted back on shore. I'll be taking along more cash my next run through the Caribbean. My local credit union also charges 3% for currency conversions. The charge when it is a currency conversion has been a problem for a long time. Before I leave, I call each card to see what they charge (and also to explain that I actually am going to be somewhere outside the US so that they don't refuse the charge. Mostly I use a debit card now to get cash in foreign countries. |
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Check the credit card fine print
Your mileage may vary. Visa and MasterCard always charge the banks a
currency conversion fee. But many banks that issue DEBIT cards do not pass the fee along to customers using an ATM, PINned POS, or a signature debit. The actual currency conversion to dollars is usually an excellent exchange rate. BUT... I just got a notice from Bank of America concerning my RCI Platinum Credit Card. A 3% Foreign Transaction Fee will be applied to all transactions outside of the US, even if they are priced in dollars! Allowing a non-US merchant to price a transaction in dollars is already a bad idea. The exchange rate is horrible. This new policy may cost you a total of 6-7% extra to use dynamic currency conversion. http://www.signonsandiego.com/uniont...22convert.html The link above is a balanced story on the use of dynamic currency conversion. I'm not debating BofA's policies, if I don't like them I'll stop using the card. "Rosalie B." wrote in message news Kurt Ullman wrote: In article , Bill wrote: On 4/22/2009 10:29 AM, Kurt Ullman wrote: Just got an update of new charges from my Visa from FIA. They are now charging 2% fee for *ALL* out of US charges and not just those requiring currency conversion. An important consideration in this group. I just got a change notice from BoA (I think) and they are doing the same thing, except their charge is 3%! Are there any cards which don't rip you off on this stuff anymore? I also need to know for my upcoming Med cruise. Bill Maybe one through a local bank. I could more or less understand the one for exchanging currency. I'd have to do that with cash, but just to get it transmitted back on shore. I'll be taking along more cash my next run through the Caribbean. My local credit union also charges 3% for currency conversions. The charge when it is a currency conversion has been a problem for a long time. Before I leave, I call each card to see what they charge (and also to explain that I actually am going to be somewhere outside the US so that they don't refuse the charge. Mostly I use a debit card now to get cash in foreign countries. |
#9
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Check the credit card fine print
Bert Hyman wrote:
In news wrote: Mostly I use a debit card now to get cash in foreign countries. When you say "debit card", do you mean an ATM card you use to get cash from machines? I have a hybrid card from Master Card which is really a debit card in that it takes the money from my account, but looks like a credit card. I only use it to get cash from an ATM when I'm abroad because it gives me the current exchange rate and I don't have to wait until it gets processed. I almost never use an ATM at home. |
#10
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Check the credit card fine print
In Rosalie B.
wrote: Bert Hyman wrote: In news wrote: Mostly I use a debit card now to get cash in foreign countries. When you say "debit card", do you mean an ATM card you use to get cash from machines? I have a hybrid card from Master Card which is really a debit card in that it takes the money from my account, but looks like a credit card. My bank wanted to give me one of those but after a bit of whining I was able to talk them into letting me keep my ATM-only card. If someone commits fraud with your debit card number, they can clean out your checking account (plus any overdraft "protection") in no time. Sure, you can get your money back -eventually, but in the meantime, your checking account is still empty. I only use it to get cash from an ATM when I'm abroad because it gives me the current exchange rate and I don't have to wait until it gets processed. It's really the only sensible way to get cash away from home. I still used credit cards for anything over the equivalent of about US$20; vacations are too short to worry about (relatively) small surcharges. I almost never use an ATM at home. -- Bert Hyman St. Paul, MN |
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