RBC visa black

[mort1331]

Does anyone have this. Received an email about this and its claiming no US transaction fees, just the exchange rate. Wondering if true or possible.

 

[Gina-Gina-Bo-Bina]

It's on the RBC website, if you want to check out all the details (and how that card compares with the others they offer):

https://www.rbcbank.com/borrowing-in-the-us/compare-credit-cards/index.html

 

[bankr63]

Does anyone have this. Received an email about this and its claiming no US transaction fees, just the exchange rate. Wondering if true or possible.

Nice to see other banks finally catching on to Chase Bank. Sure it's possible. The Amazon, Sears, and Marriott cards (all from Chase) have had this feature for quite a while. And yes, it saves a TON if you travel lots (2.5% saved on everything you put on the card, PLUS the value of the cash back or points).

ETA - maybe it is too good to be true. Gina's link shows the card has a 1% Forex fee. So not free. I guess when they say "avoid foreign transaction fees" they mean it is cheaper than their other cards at 2.5-3%

 

[ky.]

Does anyone know where I can find a chart that shows what Sears (or master card) uses for the exchange rate? I ask because I paid about half our trip (around $850) on my air miles MC and it came out to about $1,100 with the exchange rate and bank fee, so I applied for the no fee Sears card and about a month later paid the same amount ($850) and it came out to just a few dollars less (around $1,085). Granted the dollar went from about .79 when I used the air miles MC to about .76 when I used the Sears card but I thought saving the foreign exchange fee would have made more of a difference that about $15...

 

[DisneyFreak06]

I think those Visa Black cards are for Americans. If you look it's RBC USA in the link provided. In Canada, their US card is the US Dollar Visa Gold (as far as I can tell.) Here is the link:

http://www.rbcroyalbank.com/credit-...card.html?_ga=1.36301417.890264069.1437768643

 

[bankr63]

Does anyone know where I can find a chart that shows what Sears (or master card) uses for the exchange rate? I ask because I paid about half our trip (around $850) on my air miles MC and it came out to about $1,100 with the exchange rate and bank fee, so I applied for the no fee Sears card and about a month later paid the same amount ($850) and it came out to just a few dollars less (around $1,085). Granted the dollar went from about .79 when I used the air miles MC to about .76 when I used the Sears card but I thought saving the foreign exchange fee would have made more of a difference that about $15...

Not a chart. After our last vacation I checked several transactions and they were exchanged at very close to the noon rate posted on the Bank of Canada site (+- about 0.03% or 3 cents per $100). That would be the rate for the day they cleared, which was often a day or two after the transaction. I expect that they are actually exchanging at the market rate at the exact time the process. This is actually pretty good, because many banks set the counter rate is a bit higher than the noon rate to deal with fluctuations during the day. So you save again.

Your numbers sound about right considering that the Canadian dollar probably fell further during that month. 2.5% on $1000 is $25. You were 1.5% ($15 dollars) better, with the other $10 probably swallowed by the worsening dollar.

ETA: My example is the Amazon Visa, but it is the same issuer as the Sears MC (Chase Bank). I assume both cards would process the same. But it is easy for you to check. Go to the Bank of Canada site and check the noon rate for the date your transaction cleared. Compare that to the rate applied to your transaction (1.2765).

 

[sk8jdgca]

It is a RBC U.S. Bank card. The foreign transaction would be if you used then for a Canadian or Euro purchase, not a U.S one. There is dome way they can use your Canadian credit bureau to qualify you for this card. It will not show immediately on your Canadian RBC online banking, you will have to set up a U.S. Online banking then link the to together

 

[pangyal]

I have this card. No annual fee and 1% rewards points on purchases. I've been using it for absolutely everything I buy in or from the U.S. It was easy to get, but I got it as part of my US bank account with RBC when I opened it.

 

[mort1331]

Sounds great, we have a RBC US account. Have to look further into this