[Gocamino] Use of Credit Cards

[Glenn]

Thanks Richard for the website!!!  It was interesting and had valuable 
information.
Glenn
----- Original Message ----- 
From: <peregrino at att.net>
To: "Gocamino Listserver" <gocamino at oakapple.net>
Sent: Thursday, March 10, 2005 3:22 PM
Subject: Re: [Gocamino] Use of Credit Cards


>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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