Credit Card Question

[AndRu]

Q) If you buy something in the USA on your credit card, what exchange rate do they use, the actual currency exchange rate (today $1.92 to a £), the tourist rate ($1.84 to a £) or some other figure in between?

If it's the actual currency exchange rate it would make more sense to buy larger items with a credit card. Wouldn't it?

Thanks in advance.

Oh, and if anyone can suggest how my two sons and I can get rid of heavy colds/flu before Saturday I'd be most greatful. Being ill is no fun at Christmas

 

[gilld]

CC purchases are subject to the tourist exchange rate. We thought we were being clever buying our DVC points on our CC and saving the cost of wiring the money - about £25, but the tourist rate was used which ended up costing us £175!!! A costly mistake!

 

[Pootle]

If you have a Nationwide credit card it will be the commercial rate of around $1.92 - the majority of other cards (there are a few other exceptions) have a 2.75% loading which gives you the tourist rate. I've just bought some park passes with Undercover Tourist and the transaction went through (checked online this morning) on 21st at a rate of $1.926.

Gill, I pay my annual dues on Nationwide too - and I get a cashback; only small about 0.5% but useful - and I am hoping for a DVC add-on to come through while the rate stays so high

 

[steve_rob]

Actually all credit cards use the higher market rate, it just depends on how much commission they charge you. As Pootle said, the Nationwide CC doesn't charge any, while others charge anywhere between 1% and 2.75% - take a look at the terms and conditions of your card to be sure.

Of course, if you're towards the higher end of that scale, then by the time you take 2.75% off the market rate, it pretty much IS the tourist rate! What I typically do is take a look at Travelex's website to see what their tourist rate is today (http://www.travelex.co.uk/personal/rateslist.asp?content=rtl) and use that as what I think I'm going to get on my CC - typically they're normally very close to what my bank charge me (2% I think).

 

[alisonbestford]

Bit late now but 'Pulmo Bailey' is good for settling heavy colds down.
You tend not to find it on pharmacy shelves but, if you ask for it it'll be there somewhere ;-)
Hope you feel better.
Alison

 

[paulh]

we pay our dues and use the nationwide CC as there is no comision so you get the interbank rate rather than touist rate we bee 3 time in last year used CC and we have saved a lot

Paulh

 

[AndRu]

Thanks for the feedback everyone, I'll be checking with my CC company in the new year to see what deal we get.

As for the colds, I've still not shifted mine. Can't taste food properly, the greatest drink in the world, tea!, even tastes awful. My Xmas day eating so far has consisted of a clementine from breakfast and some ready brek for dinner.