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US credit card use in London
Not sure I totally understand this, so I will just toss out the numbers
from my statement, all transactions seem to have "about" the same percent charge, this transaction occured on Aug 15, 2006 on a Chase VISA card. GBP 1271.18 x 1.89553071 + 72.28, charge on statement is US $ 2481.92 My calc shows the effective rate as 1.9524536258 *note when I worked out the first line by hand I got a difference of 72.36 instead of 72.28 as shown on the statement. Bank of America ATM access through Barclays was GBP 250 for $477 which is only 1.908, a MUCH better exchange rate. Unfortunately both the credit cards we used were from Chase, so I don't know how it compares. Anybody else have some recent transactions from other credit card providers. |
#2
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US credit card use in London
"Danglerb" wrote in message oups.com... Not sure I totally understand this, so I will just toss out the numbers from my statement, all transactions seem to have "about" the same percent charge, this transaction occured on Aug 15, 2006 on a Chase VISA card. GBP 1271.18 x 1.89553071 + 72.28, charge on statement is US $ 2481.92 My calc shows the effective rate as 1.9524536258 *note when I worked out the first line by hand I got a difference of 72.36 instead of 72.28 as shown on the statement. Bank of America ATM access through Barclays was GBP 250 for $477 which is only 1.908, a MUCH better exchange rate. Unfortunately both the credit cards we used were from Chase, so I don't know how it compares. Anybody else have some recent transactions from other credit card providers. Your Chase credit card appears to be charging a 2% fee on top of the 1% VISA fee. Your ATM card appears to be charging only the 1% Cirrus/Plus fee. Note that the credit card posting date (not the purchase date) is used for FX conversion. Looking at Oanda it appears that the credit card posting date is 08/17 (1.89470) or 08/18 (1.89490). The ATM date appears to be your stated date of 08/15 (1.89100). All sounds rather normal for credit cards and ATM cards these days. |
#3
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US credit card use in London
On 21 Aug 2006 18:43:54 -0700, "Danglerb"
wrote: Not sure I totally understand this, so I will just toss out the numbers from my statement, all transactions seem to have "about" the same percent charge, this transaction occured on Aug 15, 2006 on a Chase VISA card. GBP 1271.18 x 1.89553071 + 72.28, charge on statement is US $ 2481.92 I don't get it: what's the $72.28 charge? My calc shows the effective rate as 1.9524536258 *note when I worked out the first line by hand I got a difference of 72.36 instead of 72.28 as shown on the statement. Bank of America ATM access through Barclays was GBP 250 for $477 which is only 1.908, a MUCH better exchange rate. "Much better"? it's sensational these days, a system charge of about 1.3%. Unfortunately both the credit cards we used were from Chase, so I don't know how it compares. Anybody else have some recent transactions from other credit card providers. It's a subject in a constant state of flux. ************* DAVE HATUNEN ) ************* * Tucson Arizona, out where the cacti grow * * My typos & mispellings are intentional copyright traps * |
#4
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US credit card use in London
Hatunen wrote: On 21 Aug 2006 18:43:54 -0700, "Danglerb" wrote: Not sure I totally understand this, so I will just toss out the numbers from my statement, all transactions seem to have "about" the same percent charge, this transaction occured on Aug 15, 2006 on a Chase VISA card. GBP 1271.18 x 1.89553071 + 72.28, charge on statement is US $ 2481.92 I don't get it: what's the $72.28 charge? The 1.89553071 shows on my statement as the exchange rate, and the 72.28 shows as "exchg rate adj". It appears to be a fixed percentage, since another charge I have is GBP 7.50 x 1.874666666 + 0.42 for US $ 14.48. Bottom line its the charge Chase makes to convert, and I do plan to look a bit on their website for more details on it, but it isn't a unreasonable conversion rate overall. Maybe somebody else will post with results from a different CC. |
#5
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US credit card use in London
"Danglerb" wrote in message oups.com... Hatunen wrote: On 21 Aug 2006 18:43:54 -0700, "Danglerb" wrote: Not sure I totally understand this, so I will just toss out the numbers from my statement, all transactions seem to have "about" the same percent charge, this transaction occured on Aug 15, 2006 on a Chase VISA card. GBP 1271.18 x 1.89553071 + 72.28, charge on statement is US $ 2481.92 I don't get it: what's the $72.28 charge? The 1.89553071 shows on my statement as the exchange rate, and the 72.28 shows as "exchg rate adj". It appears to be a fixed percentage, since another charge I have is GBP 7.50 x 1.874666666 + 0.42 for US $ 14.48. Bottom line its the charge Chase makes to convert, and I do plan to look a bit on their website for more details on it, but it isn't a unreasonable conversion rate overall. Maybe somebody else will post with results from a different CC. There is a % charge for international use on a lot of cards, actually most cards. I think Citibank is 3% which is about the same as this charge. |
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