[Gocamino] Use of Credit Cards

[Richard Ferguson <peregrino at att.net.]

I recently saw a similar notice.

I try to put all my charges on my credit union debit card, since it does not tack on the additional charge.  I figured this out years ago, when I noticed that the exchange rate seemed less favorable on one card than the other.  I usually carry two cards from two different institutions in two different places, both of which I have PIN numbers for, so that if I lose one card I can continue the trip on the other card.  Of course, I have never lost a card, but maybe that is because I carry a spare.  ;-)

Mastercharge/Visa themselves charge 1% for a foreign exchange fee.  The extra 2% is profit for your credit card company, as I understand it.  See the article below for more info.

http://www.bankrate.com/brm/news/cc/20010416a.asp

You may want to make some phone calls before you go to figure out what the foreign exchange fees are for the cards that you carry now.  Maybe one of your cards has a better fee structure.

Richard

 -------------- Original message ----------------------
From: "Glenn" <Guha2005 at hotmail.com>
> Since I am getting very close to my leaving for the Camino, I have been paying 
> closer attention to the "microscopic printing" on the information enclosed with 
> my credit cards.  It seems like a change has happened in the last couple of 
> months that adds a transaction cost to purchases made in foreign countries.  
> This transaction cost is 3% over and above whatever they make on the exchanging 
> the currencies, which adds insult to injury, considering the slide in the value 
> of the dollar!  It seems like the only way to escape extra charges now is to use 
> the debit card exclusively for everything, purchases and cash.
> 
> Has anyone noticed this with their cards?
> 
> Glenn
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