No service fees...

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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FastSRT8
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No service fees...

Postby FastSRT8 » Tue Jun 19, 2012 11:21 am

Just found out Centurion cardholders do not get charged service fees when converting foreign money to their home currency.... now that's nice!
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nedyah700
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Postby nedyah700 » Tue Jun 19, 2012 11:51 am

Same with Platinum Cards ...

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FastSRT8
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Postby FastSRT8 » Tue Jun 19, 2012 12:03 pm

I found this to be helpful when making a payment to my acount while travelling and using foreign funds. How do you all use this benefit to your advantage?
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DavidNY
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Postby DavidNY » Tue Jun 19, 2012 1:48 pm

A great way to get rid of foreign currency is to sell it on eBay.

I had a moose poop load of Canadian cash from my last trip to the Great White North, took it to the bank and got a lousy exchange rate. Had I sold them on eBay I would have made back nearly all of its value. I also noted someone selling a poopload of foreign coins on eBay, also getting close to face value.

(Getting Canadian money is free of fees using my BofA debit card at a Scotiabank ABM.)

DoingHomework
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Postby DoingHomework » Tue Jun 19, 2012 2:10 pm

nedyah700 wrote:Same with Platinum Cards ...


It's pretty normal for any premium credit card these days.

DavidNY
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Postby DavidNY » Tue Jun 19, 2012 2:29 pm

DoingHomework wrote:It's pretty normal for any premium credit card these days.


Really? My CCs only take USD.

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FastSRT8
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Postby FastSRT8 » Tue Jun 19, 2012 3:28 pm

It's different for us Canadian folks. We get R@ped as we are Canadians!! Our credit cards (all of them including premium ones) charge us foreign exchange rates on all purchases PERIOD.

So, be happy you US folks!!
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DoingHomework
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Postby DoingHomework » Tue Jun 19, 2012 8:01 pm

DavidNY wrote:Really? My CCs only take USD.


I mean if you use your premium card in another country you won't pay a surcharge. If you use a regular card they will typically charge you 2-3% extra for making a charge in a foreign currency.

PopiLopi
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Postby PopiLopi » Wed Jun 20, 2012 5:49 pm

I think you guys are confusing 2 different things... Amex centurion and platinum, plus other cards like chase sapphire don't charge foreign transaction fees, that's usually 2-3% of the transaction converted to US currency.

There's another thing that amex has to make international payments called FX international payments, they charge a fee for that, like when you send wire transfers, but platinum and centurion cards don't have to pay those. I think FastSRT8 was refering to the latter.

Regarding to the regular foreign transaction fees Cap1 doesnt charge that in any of heir cards, that's the only use I find to their card now :cool:
Amex: Business Platinum (09/12) BCP $10,500 (03/13)
Visa: Capital One Journey $750 (04/11) Chase Freedom $1,800 (04/12)
MasterCard Citi AAdvantage Platinum Select $8,500 (05/13)
Discover: Discover It $2500 (07/11)
Store Cards: Amazon $3900 (12/11) Macy's $500 (04/11) Kohl's $500 (05/12) Victoria's Secret $750 (11/12)

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FastSRT8
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Postby FastSRT8 » Wed Jun 20, 2012 6:11 pm

Yes PopiLopi is right. I was wondering why during my travels I send payments to my account at their offices worldwide and when the payment is reflected on my statement, the exchange rates are awesome.

BUT if I charge to the card, I get fees and not so good rates. I believe Canadian Centurion and Platinum cards get charges conversion rate fees.
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