I recently wrote about which card issuers give the best exchange rate for foreign transactions. And ran an experiment which showed MasterCard had the most favorable rates.
But that might not be the case in every situation. Deciding which credit card to use when traveling abroad can be tricky, because the major banks use a different conversion tool for rates.
The Mercez app can check which card gives you the best exchange rate from the local currency into US dollars when making your purchase.
The Mercez App Helps You Determine the Best Card to Use Abroad by Checking Currency Conversion Rates by Credit Card Issuer
I’ve been playing with the app and the concept is great, but it’s not perfect. Here’s my full review.
Posted in American Express, AMEX Business Gold Rewards, AMEX Delta, AMEX EveryDay Preferred, AMEX Premier Rewards Gold, AMEX Starwood (SPG), Barclays, Barclays AAdvantage Aviator, Business Platinum, Capital One, Capital One Venture, Chase, Chase Hyatt, Chase Ink Plus, Chase Marriott, Chase Marriott Business, Chase Sapphire Preferred, Chase Southwest, Citi Prestige, Citibank, Credit Cards, Discover, Discover It, Discover it Miles, Foreign Transaction Fees, Save Money, Shopping, Travel Technology, Travel Tips, US Bank, US Bank Flex Perks
When you travel abroad, you’ll save money by using cards that don’t add foreign transaction fees. Otherwise you’ll be charged an extra ~1% to ~3% on each purchase!
But did you know you’ll usually pay a different exchange rate depending on the card issuer? Milevalue, One Mile at a Time, and View From the Wing suggest MasterCard offers the best rates.
So I decided to run an experiment with the help of a Million Mile Secrets team member who recently traveled to Canada.
Traveling Outside the US? You’ll Get a Better Exchange Rate With Certain Cards!
I’ll let you know what we found out!
Posted in American Express, AMEX Mercedes-Benz Platinum, AMEX Starwood (SPG), Chase, Chase Ink Plus, Chase Sapphire Preferred, Citi Prestige, Citibank, Discover, Discover It, Foreign Transaction Fees, Foreign Transaction Fees, Save Money, Shopping, Travel Tips
1. I shared that the better 70,000 point in-branch Chase Ink Plus offer has been extended through August 20, 2016. But if you can’t get to a branch, our link is for 60,000 Chase Ultimate Rewards points after meeting minimum spending.
70,000 Chase Ultimate Rewards Points Can Get You a LOT of Big Travel! But You’ll Have to Apply In-Branch to Get the Higher Offer
2. I let you know the best-ever AMEX Hilton HHonors Surpass 100,000 point and AMEX Hilton HHonors 75,000 point offers have returned! Emily and I don’t earn commission from these offers, but we’ll always share the best deals with you!
Posted in Air France, Airline Award Booking, Airlines, Airlines, American Airlines, American Express, AMEX Hilton, AMEX Hilton Surpass, Chase, Chase Ink Plus, Chase Marriott Business, Credit Cards, Etihad, Foreign Transaction Fees, Hilton HHonors, Hotel Award Booking, Hotels, Hyatt, KLM, Marriott, Save Money, Travel Tips, United Airlines
Want more flexibility to cover your travel costs? Credit cards that earn miles & points are often the best way to get Big Travel with Small Money because they can get you award flights and hotel award stays.
But the Barclaycard Arrival Plus™ World Elite MasterCard® and Venture® Rewards From Capital One let you redeem miles for other travel costs, like Airbnb stays, taxi rides, meals in hotels, and flights with NO blackout dates. That can save you more money when you travel!
Can’t Find an Award Seat? Use Your Barclaycard Arrival Plus or Capital One Venture Card to Cover the Cost of Your Flight. I’ll Help You Decide Which Card Is Better for You!
Let’s look at both cards to see how they compare!
Posted in American Express, AMEX SimplyCash Plus, Barclays, Barclays Arrival, Capital One, Capital One Venture, Chase, Chase Freedom, Citi Double Cash, Citibank, Credit Cards, Discover, Discover It, Discover it Miles, Fidelity, Foreign Transaction Fees, US Bank Fidelity Rewards Visa
Have you ever come home from a trip abroad and been shocked to see fees on your bank statement? It’s not a fun way to end your vacation!
Most US banks add currency conversion fees of 1% to 3% for using ATMs abroad. And sometimes, there’s an ATM fee of ~$3 to $5 in addition to the foreign exchange fee. These fees can put a dent in your plans for Big Travel with Small Money!
The good news is some checking accounts do NOT charge currency conversion fees. And they’ll even give you a rebate for any ATM charges anywhere in the world!
Foreign Transaction Fees and ATM Fees Are Frustrating! But Some Checking Accounts Don’t Add Them
I’ve made a list of the best checking accounts to use overseas. And I’ll compare these accounts to help you decide which option is best for you!
Posted in Beginner Tips, Charles Schwab, Credit Cards, Credit Cards, Debit Cards, Fidelity, Foreign Transaction Fees, Foreign Transaction Fees, Save Money, Travel Tips, US Bank, US Bank Fidelity Rewards Visa