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Sun Mar 18, 2007 2:41 pm  |
Citi and American Express both charge 3% transaction fee because EDS charges Canadian dollars.
Do you know which credit card doesn't charge that fee?
Or is there anybody paying check or money order?
Thanks. |
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lindia |
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Sun Mar 18, 2007 3:29 pm |
| I'm Canadian so I don't have a problem with EDS, but I do visit the states alot and have the same problem when I use my mastercard while I am there. I don't get a straight exchange rate, it's a little more. But last time I was at my bank, they said I could apply for a US mastercard that would give me a straight exchange when I use it. I still want to research a bit on it before I get one, but you should ask your bank if they can give you a Canadian one for all your Canadian $ transactions. |
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Sun Mar 18, 2007 4:11 pm |
I think all credit cards charge a F/X transaction fee. I was mad at my Visa b/c they put a F/X processing fee on my stmt. I called them and asked since when they started charging this fee, and they said they always did but they just never separated it out but just lumped it in with the total price of the goods. I would rather they did it the old way so that I'd not think of them as such jerks.
So I called MC and AmEx and Discover to see if they would charge a fee on FX transaction or not, and they all said yes. The fee % varies, but the lowest was 2.5%. AmEx was the most expensive at 3%. My bf thought his BofA visa didn't charge, so I asked him to verify. When he called, they informed him they did charge a FX fee. |
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Sun Mar 18, 2007 4:54 pm |
I also want to know the resound of this question!  |
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Sun Mar 18, 2007 5:12 pm |
I use my Visa...I don't bother to check the fee...out of sight, out of mind. I don't want to know  |
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32, Fair Skin, combo/break-out prone. Simple routine of REN No. 1 Purity Cleansing Balm and Argan oil as a moisturizer; Clarisonic when needed. That's it! |
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Sun Mar 18, 2007 6:30 pm |
MBNA didn't charge transaction fee before. I used it to buy something from EDS twice. But it belongs to BoA now and BoA charges.
Anybody considering to use check or money order? |
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lindia |
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Sun Mar 18, 2007 7:49 pm |
Darn. My Visa card is MBNA.
Guess I should start checking!!!!
ETA:
I just checked...my fee was 1.84 on a $61.66 charge. Looks like my exchange rate really sucked.
OP was right as they stated in my invoice that "Your credit card company may charge you a different exchange rate."
I didn't save the 10 dollars I thought I was by ordering it directly from OP...I'm going to order from New London Pharmacy in New York from now on, even though their products are priced higher and their shipping is high...it is the exact same amount.
I'm glad I checked! thank you for this post and getting my lazy butt checking! |
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32, Fair Skin, combo/break-out prone. Simple routine of REN No. 1 Purity Cleansing Balm and Argan oil as a moisturizer; Clarisonic when needed. That's it! |
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Sun Mar 18, 2007 7:50 pm |
| lindia99 wrote: |
MBNA didn't charge transaction fee before. I used it to buy something from EDS twice. But it belongs to BoA now and BoA charges.
Anybody considering to use check or money order? |
Lindia, the visa I had was from MBNA. This is the one that lumped the fee in with the total purchase price. Before they even got bought out by BofA, they sent me a stmt separating out the FX fee, and I called them. They told me they had always charged a fee but never segregated out the fee in a separate line. |
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Sun Mar 18, 2007 7:57 pm |
| Capital One is the only credit card that doesn't charge any transaction or currency exchange fees. I also use it when I travel to Europe. |
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Sun Mar 18, 2007 8:02 pm |
| doba wrote: |
| Capital One is the only credit card that doesn't charge any transaction or currency exchange fees. I also use it when I travel to Europe. |
I had a Capital One and it did charge a fee...only 1%. Technically, Capital One does not charge a fee, it's Visa that charges the fee. Other card companies like Citi, Bank of America ADD to the fees that Mastercard/Visa already charge. |
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32, Fair Skin, combo/break-out prone. Simple routine of REN No. 1 Purity Cleansing Balm and Argan oil as a moisturizer; Clarisonic when needed. That's it! |
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Sun Mar 18, 2007 8:17 pm |
| I am using Capital One for about one year (for foreign currency transactions), and they never charged me any fees. I was told that they used to charge 1%, but they don't do it any longer. You can call their customer service to confirm this. |
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Sun Mar 18, 2007 9:45 pm |
Cool...I shouldn't have gotten rid of that card!
I culled all of my credit cards down to one about 2 years ago...I went with the one I had the longest, could negotiate the lowest APR, and had the highest limit.
That was my MBNA.
Boo. |
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32, Fair Skin, combo/break-out prone. Simple routine of REN No. 1 Purity Cleansing Balm and Argan oil as a moisturizer; Clarisonic when needed. That's it! |
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Sun Mar 18, 2007 10:17 pm |
| ParisTroika wrote: |
Cool...I shouldn't have gotten rid of that card!
I culled all of my credit cards down to one about 2 years ago...I went with the one I had the longest, could negotiate the lowest APR, and had the highest limit.
That was my MBNA.
Boo. |
No, that was a good move Paris! Capital One cards can hurt your credit because they do not report your credit limit! Unfortunately, I learned that after we got one.
"What irks me, though, are lenders that deliberately make their customers look like worse credit risks than they are. Some of the worst offenders are issuers that don't report their customers' on-time payment records at all. Next on the list are those that don't report their customers' credit limits, like Capital One.
When a lender doesn't report a customer's credit limit, the bureaus typically use the "highest balance charged" as a proxy for the limit. The problem comes when borrowers charge about the same amount each month.
Here's how it works: If you use $300 of a $1,000 limit that's properly reported, the all-important credit-scoring formulas figure your "credit utilization" at 30%, and that's good. If your limit isn't reported and the highest balance you ever had was $300, it looks like you're using 100% of your available credit -- and that's bad."
http://articles.moneycentral.msn.com/Banking/CreditCardSmarts/CreditCardCompaniesEvilTricks.aspx |
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28 Fair skin, brown hair, blue eyes & acne prone combo skin |
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Sun Mar 18, 2007 10:57 pm |
| I use my visa. I have CapitalOne and Chase.. is Chase bad too? |
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Sun Mar 18, 2007 11:28 pm |
| Lisey wrote: |
| I use my visa. I have CapitalOne and Chase.. is Chase bad too? |
Lisey, one thing sprang to mind when I heard "Chase". Awhile back I read on Clark Howard's(fantastic consumer adviser/dvocate) website about how Chase only allows one payment per cycle! That's nuts IMO. Say you have $1,500 balance after you make your payment w/ a $5,000 credit limit then your car breaks down and you need to get it fixed asap but you don't get paid for another couple days; you charge the repair to your credit card and your credit utilization ends up over 50%. This stops you from turning around and making another payment and your utilization rate for that month looks terrible! Plus, with a higher balance they can use that as an excuse to hike your interest rate. I hope I'm making sense because it is way late and I'm sick lol.
http://clarkhoward.com/shownotes/category/7/18/211/ |
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28 Fair skin, brown hair, blue eyes & acne prone combo skin |
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Mon Mar 19, 2007 7:46 am |
| Uh... I don't have capital one... don't want to open another card to lower my credit score lo! |
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Mon Mar 19, 2007 3:22 pm |
| doba wrote: |
| I am using Capital One for about one year (for foreign currency transactions), and they never charged me any fees. I was told that they used to charge 1%, but they don't do it any longer. You can call their customer service to confirm this. |
doba, could you specify the name of that card? Maybe I need to apply one since I have only two. It's nice to have such a credit card when shopping outside US. Thanks  |
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lindia |
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Mon Mar 19, 2007 3:25 pm |
| bkkgirl wrote: |
| lindia99 wrote: |
MBNA didn't charge transaction fee before. I used it to buy something from EDS twice. But it belongs to BoA now and BoA charges.
Anybody considering to use check or money order? |
Lindia, the visa I had was from MBNA. This is the one that lumped the fee in with the total purchase price. Before they even got bought out by BofA, they sent me a stmt separating out the FX fee, and I called them. They told me they had always charged a fee but never segregated out the fee in a separate line. |
bkkgirl, my original MBNA was worldpoints platinum plus master card. The amount I was charged was slightly lower than the amount EDS showed, which confirmed with what MBNA told me before I made a purchase from EDS. Maybe we were using different cards. But once BoA purchased MBNA credit card, BoA charges.  |
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lindia |
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Sun Apr 15, 2007 8:09 pm |
that would be citibank credit for me.  |
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Mid 20's, combination & sensitive skin |
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Sun Apr 15, 2007 8:18 pm |
| I'm Canadian so shopping at EDS is not an issue for me. I do use Mastercard. |
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34, oily acne-prone skin, Toronto, Canada |
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Sun Apr 15, 2007 8:25 pm |
| Sundew wrote: |
| Lisey wrote: |
| I use my visa. I have CapitalOne and Chase.. is Chase bad too? |
Lisey, one thing sprang to mind when I heard "Chase". Awhile back I read on Clark Howard's(fantastic consumer adviser/dvocate) website about how Chase only allows one payment per cycle! That's nuts IMO. Say you have $1,500 balance after you make your payment w/ a $5,000 credit limit then your car breaks down and you need to get it fixed asap but you don't get paid for another couple days; you charge the repair to your credit card and your credit utilization ends up over 50%. This stops you from turning around and making another payment and your utilization rate for that month looks terrible! Plus, with a higher balance they can use that as an excuse to hike your interest rate. I hope I'm making sense because it is way late and I'm sick lol.
http://clarkhoward.com/shownotes/category/7/18/211/ |
Sundew, I've made more than 1 payment on my Chase card during the same cycle on several occasions. The last time I did the second payment was huge and was only 3 days later and still within the cycle as I always pay early.
Ari |
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Be the kind of woman that when your feet hit the floor each morning the devil says, "Oh Crap, She's up!" Unknown |
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Sun Apr 15, 2007 9:14 pm |
| I'm not Canadian. I had no idea this could become an issue. |
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Sun Apr 15, 2007 9:36 pm |
| Arielle wrote: |
| Sundew wrote: |
| Lisey wrote: |
| I use my visa. I have CapitalOne and Chase.. is Chase bad too? |
Lisey, one thing sprang to mind when I heard "Chase". Awhile back I read on Clark Howard's(fantastic consumer adviser/dvocate) website about how Chase only allows one payment per cycle! That's nuts IMO. Say you have $1,500 balance after you make your payment w/ a $5,000 credit limit then your car breaks down and you need to get it fixed asap but you don't get paid for another couple days; you charge the repair to your credit card and your credit utilization ends up over 50%. This stops you from turning around and making another payment and your utilization rate for that month looks terrible! Plus, with a higher balance they can use that as an excuse to hike your interest rate. I hope I'm making sense because it is way late and I'm sick lol.
http://clarkhoward.com/shownotes/category/7/18/211/ |
Sundew, I've made more than 1 payment on my Chase card during the same cycle on several occasions. The last time I did the second payment was huge and was only 3 days later and still within the cycle as I always pay early.
Ari |
 Wonder if they have different rules for different types of cards?
That story is almost a year old so maybe they changed their policy? Glad you don't have that problem though  |
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28 Fair skin, brown hair, blue eyes & acne prone combo skin |
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Sun Apr 15, 2007 9:44 pm |
I shop by Master Card.
But I charge for exchange rate bout 2%.
It is very high.  |
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Sun Apr 15, 2007 10:03 pm |
| I use VISA. |
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