What just happened to my exchange rate?

[rharper1496]

I use my CC for US online purchases all the time and my exchange rate (after the 2.5% fee) is usually right around 1.049. I made a $360 payment on our vacation balance last night and this morning I have a pending charge for $430. The 1.049 rate would have put my $360 payment at $375-380.

Is this likely to change once the charge switches from pending to posted? I kept a bit of a cushion for the difference but I wasn't planing on being charged 20% exchange.

 

[pigletto]

Bleh.. that's high. I usually find that once it moves from pending to posted the amount is adjusted and it's never that much. Hopefully that's all it is.

 

[stefanospops]

Consider getting a US Dollar Visa. That way you can control the rate yourself. That's what we do.

 

[Sue M]

We have a Cibc USD visa too. But the CAD is dropping

 

[sherilaine]

I would call your bank - just the other day I purchased 5 DLR passes for a total of $2345 and my credit card was charged $2438 which is pretty on par with the cash buying rate, which includes the 2.5% like all credit card transactions.

The dollar has fallen less than half a cent since I did my transaction, nothing that would explain a rate difference of 15%.

 

[rharper1496]

They posted this morning at my regular 1.049 exchange so I guess it's just something weird that happens with pending transactions. I have 3 other US pending transactions right now and those are all at the regular exchange so it seems to only be Disney payments.

 

[Gina-Gina-Bo-Bina]

I would call your bank - just the other day I purchased 5 DLR passes for a total of $2345 and my credit card was charged $2438 which is on par with the cash buying rate, which includes the 2.5% like all credit card transactions.

Just so you know, there are credit cards out there that don't charge the 2.5% fee. I have a Sears Mastercard (through Chase Canada Financial) that ONLY charges the exchange rate (no 2.5% fee). So if the Canadian dollar is above the US dollar, purchases actually end up being less than the USD charged amount once converted.

I hardly even use the Mastercard anymore (I have a Visa for all of my regular cc purchases) but I keep it for anything that is charged to me in American funds, just for the simple reason that it saves me 2.5% each time.

 

[sherilaine]

Just so you know, there are credit cards out there that don't charge the 2.5% fee. I have a Sears Mastercard (through Chase Canada Financial) that ONLY charges the exchange rate (no 2.5% fee). So if the Canadian dollar is above the US dollar, purchases actually end up being less than the USD charged amount once converted.

I hardly even use the Mastercard anymore (I have a Visa for all of my regular cc purchases) but I keep it for anything that is charged to me in American funds, just for the simple reason that it saves me 2.5% each time.

Yes, Amazon.ca has a visa similar to this - I had considered getting one but we just don't travel to the U.S. often enough - mind you, it is a great idea!

It seems to have a Visa or MC with an actual bank you do not get this - it has to be a retailers card, and I hate retail credit cards for some weird reason.