Check your Amex bill!!
Aug 9th, 2000, 09:20 AM
#1
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Check your Amex bill!!
Recently returned from Greece and when I checked my Amex bill,the prices charged seemed high.I went to a currency converter on the internet and got the interbank rate for the day Amex charged my account.I found that they added on 7% to my bill.When I called them they checked the rate I quoted and said it was right.They claimed there add on charge is 2% ,so they credited my account.My thoughts are is this a common practice or a one time error?Hope other will check>
Aug 9th, 2000, 03:59 PM
#3
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Stan, <BR>That is very interesting! When I got back from Venice in March, gradually I got all the charges through on the three cards I used. The MC and Visa were all about what I had figured based on the exchange rate at the time. My Amex charge on the other hand, which unfortunately I used to pay my hotel bill, was higher than I thought it should have been. My guess is it was the extra 2%. Those rat bastards!! Guess I will have to stick to MC an Visa when I go to Rome/Venice in October. THANKS for the tip! Isn't Fodor's wonderful!!!
Aug 9th, 2000, 05:26 PM
#4
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You might want to check with your credit card companies (Visa and/or MasterCard) to see whether or not they are adding on an additional percent/charge. Please note that when you receive your statement, this "add-on" percentage fee is all-inclusive on the purchase! You wouldn't know about this fee unless you read the boards! Lately, because this add-on fee is new within the past year, those of us who finally figured it out, are making noise out there. I got zapped with FirstUSA Visa. Don't mind that they're in business to make money, but it's like they suddenly realized how easy it is to pull the wool over our eyes! (We are "using" their money when we charge...sometimes 45 to 60 days 
) <BR> <BR>Granted, the rates we see on a currency converter on the internet is the interbank rate and not necessarily what you'd pay if you walked into an exchange...but still! Four percent!is what I paid on charges made while in Mexico! From what I've been reading, we're better off using ATMs, because it's just a dollar amount versus percentage on purchase. Plus, I'm told, better interbank rates apply to that money. <BR> <BR>Another heads up is to call your credit card bank, let them know the dates you will be out of the country! Lots of credit card scams throughout the WORLD! You can even put a dollar-limit amount/per day, as a precaution. <BR> <BR>
) <BR> <BR>Granted, the rates we see on a currency converter on the internet is the interbank rate and not necessarily what you'd pay if you walked into an exchange...but still! Four percent!is what I paid on charges made while in Mexico! From what I've been reading, we're better off using ATMs, because it's just a dollar amount versus percentage on purchase. Plus, I'm told, better interbank rates apply to that money. <BR> <BR>Another heads up is to call your credit card bank, let them know the dates you will be out of the country! Lots of credit card scams throughout the WORLD! You can even put a dollar-limit amount/per day, as a precaution. <BR> <BR>
Aug 10th, 2000, 05:36 AM
#6
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To clarify,American Express said their charges were calculated at the interbank rate plus 2%.When I questioned there calculation,they immediately gave me a credit.I am now going back to other recent foreign trips and finding they are continually miscalculating.It would be interesting if more Fodor people recheck their Amex bills.It could turn into a consumer bonanza.
