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Thread: Which credit card gives the best exchange rates?

  1. #1
    ClubSNAP Idol Adam Goi's Avatar
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    Default Which credit card gives the best exchange rates?

    Hi, as above.

    Have been using UOB all these while but would love to hear from the seasoned buyers ...

    TIA!

  2. #2
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    Default Re: Which credit card gives the best exchange rates?

    buy simi?

    i think all the same, even if got diff, probably negligible...
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  3. #3
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    Default Re: Which credit card gives the best exchange rates?

    All credit cards are similar.

    When you swipe overseas - it would be charged to a corresponding/agent bank. This bank charges your local bank in FCY. Local bank remits funds over in SGD, conversion happens overseas. (So FX kenna once).

    Local bank charges you on your credit card bill - normally using Board rate.. they show HKDXX and conversion @ 1SGD = HKD 5.xx. Means you kenna FX twice.

    So either way, it's a loose loose for the consumer.

  4. #4
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    Default Re: Which credit card gives the best exchange rates?

    I always use UOB or DBS.
    I compared Citibank & my friend's UOB when buying things in Korea, same day, same shop & item. The price difference is quite a lot!
    Called Citibank to ask why the price difference so much compared to UOB, they say thats their bank rate cos foreign bank.
    From then on... overseas trip I only use UOB or DBS
    Dreaming... 14mm f2.8, 16-35 f2.8 mkII, 85 f1.2 mkII

  5. #5
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    Default Re: Which credit card gives the best exchange rates?

    I didn't want to start a new thread for a small question....

    Which credit card was it that offers 36mo 0% interest during the IT show? I can vaguely remember that only 1 card allowed it while the others can only give you 12mos...

  6. #6
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    Default Re: Which credit card gives the best exchange rates?

    Spent in Thailand using UOB
    The credit card bill is ok.
    No slaughtering exchange rate. They make but they don't try to overdo it.

    Not sure about cards like Amex or Citi.

  7. #7
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    Default Re: Which credit card gives the best exchange rates?

    Quote Originally Posted by theveed View Post
    I didn't want to start a new thread for a small question....

    Which credit card was it that offers 36mo 0% interest during the IT show? I can vaguely remember that only 1 card allowed it while the others can only give you 12mos...
    is there admin fees or processing fees?
    seen several CC, they state 0% interest for any items for some period of time. Then in small print says there is 3-6% upfront admin fees
    Dreaming... 14mm f2.8, 16-35 f2.8 mkII, 85 f1.2 mkII

  8. #8

    Default Re: Which credit card gives the best exchange rates?

    exchange rate for credit cd transactions is based on Visa or Mastercard and since their rates fluctuate everyday, you and your friend might get varying amounts depending when the items get posted into your credit card account

    Mastercard has a cross-border fee (additional charges for oversea transactions), but not sure if it has been dropped by now... but anyway refrain from using CC overseas la... you suffer 2 times loss due to the conversion... i.e, buying items in HKD will be converted to USD then only to SGD. Everything overseas has to be converted to USD first.

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