For exchange rate, does your credit card...

[tone.def]

charge you a really bad exchange rate???

I made a payment on Friday with my BMO Mastercard on my Disney trip, I think the dollar was floating around 85 cents... so my MC charged me and exchange rate of 1.2065, something to that effect.

So I called MC today and I was told that they charge an addition 2.25% for international transactions, but I responded that 2.25% subtracts from 1.20 leaves it around 1.17 for the day's rate, which it wasn't... but this is an argument it looks like I'm going to lose... does anyone else have this problem???

 

[CharlesTD]

No not with our TD visa we get the days rate on the posting date if that happens to be different from the originating date sometimes it works in your favour sometimes not.

 

[PrincessTrisha]

On the same day I was refunded 200 US on my BMO Mosaic Mastercard at a rate of 1.15 (I cancelled my CAA package) I paid off my Disney package and it was charged at 1.21

Yeah - I am definitely P.O'd.

 

[OntFamily]

charge you a really bad exchange rate???

I made a payment on Friday with my BMO Mastercard on my Disney trip, I think the dollar was floating around 85 cents... so my MC charged me and exchange rate of 1.2065, something to that effect.

So I called MC today and I was told that they charge an addition 2.25% for international transactions, but I responded that 2.25% subtracts from 1.20 leaves it around 1.17 for the day's rate, which it wasn't... but this is an argument it looks like I'm going to lose... does anyone else have this problem???

The foreign currency surcharge s**ks (especially on credits). However, their math is correct.

1 CDN $ = $0.85 USD

Less 2.25% means 1 CDN $ = $0.8275 USD, or 1 USD = 1.208 CDN $ (1 / 0.8275).

 

[SplashMom]

This happened to us a few years ago and now we have a TD US Dollar Visa. This way, we don't incur any extra charges and just pay it off with our TD american account. We watch the exchange and when it looks good, we put money in our american account. Then we make our purchases with the US Visa and pay it off with the US money. It was quite easy to set up the account and visa and it is very convenient!!

 

[mom_rules]

Our cc company charges 2.5% of the purchase amount on top of the exchange as a service fee. (we had to read the fine print on our CC contract to find that one).

 

[surfer_ed]

Hi Splashmom does the TD US Visa have an annual fee? RBC has a USD Gold card but it has a fee and I have a gold card.