Hi,
will travel frequently this year and wonder which credit card offers the best currency exchange rates (private or business/corporate card).
Anyone an idea?
Of course, additional incentives like airport lounge access or miles are welcome
Hi,
will travel frequently this year and wonder which credit card offers the best currency exchange rates (private or business/corporate card).
Anyone an idea?
Of course, additional incentives like airport lounge access or miles are welcome
Unionpay waives the 2% surcharge for foreign currency transactions.
American Express Cx gives you free access to Plaza premium Lounges.
Last edited by Drunken Master; 26-02-2015 at 10:44 AM.
[QUOTE=Drunken Master;3090517American Express Cx gives you free access to Plaza premium Lounges.[/QUOTE]
I used that the 1st time a few weeks ago in Delhi, it was awesome as I was flying cattle class and didnt get the auto lounge invitation and quickly remembered something about Plaza premium access with my CX AE card, strolled up and after a few clicks by the receptionist, i was allowed in to stuff myself and have a few beers for a 5 hour wait for my flight.
Standard Chartered priority visa card offers the same pass. I've been using it for years every time I go to the airport even if just flying elcheapo class with elCheapo airlines I can always stop by the lounge for a feed and a beer. Quite often I get 2 passes since I have a CX status and I then have to decide which lounge is better (which in HK is CX lounge but in other countries it varies).
Sometimes if I'm travelling with a mate who has no pass I try to pull a swifty on the airlines and go to one lounge and my friend another. I give him my priority card and my boarding pass (because they always check the boarding pass), he can get in no problem. then I go CX with my CX pass and HIS boarding pass (because they usually don't check the boarding pass). But sometimes they do check the name on the boarding pass and it confuses the shit out of them. I once told them oh sorry my friend and I got our boarding passes mixed up and he's just shopping somewhere and the girl had to think about it for a while, let me through but still came up to me again later to confirm and seemed all stressed out about it. A lot of messing around for a free beer but I'm a cheapo.
UnionPay will give you the best rates oversess (not because their rates are better but they don't have a 2% fee). But UnionPay is not widely accepted in many countries so maybe not a good option. The other cards all have a fee of a few % on top of their base rates. Mastercard has a slightly better rate than Visa but it is negligible.
Public Bank visa. There is another visa card, but slips my mind now. Most visa or MC cards will end up charging you around 2%, while public charges 1% plus up to 0.5% cashback.
Search HK FX Rates on android for a live update of HK bank rates and credit card exchange rates for different currencies.
I always wondered myself. I assumed there is only one visa overseeing company. It's probably that rate plus your bank charges.Original Post Deleted
I used SCB executive platinum Credit Card for my overseas trips recently. There's a .95% bank charge and a 1% Mastercard charge. Given that the card has a 2% cash back for overseas spending, I'm essentially getting the spot rate.
For ATM withdrawal or for purchase? Seems the waiver only applies for ATM withdrawal. Also you are just getting the ATM withdrawal fee waived, I don't think you are getting the various fees imposed by Citibank and Visa getting waived (could be wrong, haven't read the T&C).Original Post Deleted
" For transactions effected in currencies other than Hong Kong dollars, the amount withdrawn will be converted into Hong Kong dollars at the prevailing exchange rate plus a conversion spread as determined by the Bank on the conversion day and debited from your account together with any charges that may be imposed by the respective ATM network provider (if any)."
Last edited by pin; 23-08-2015 at 06:41 PM.