Friday, June 05, 2009

Ordering from Overseas? Don't use Credit Cards

So I was not sure what to expect. I had recently heard that the credit card companies were trying to make more money by jamming us consumers again. So imagine my wonderful surprise when I checked my AMEX card bill. What I found was that they added a transaction fee from Yen to Dollars. It was a 2.7% fee added to the final price for the conversion. This may be only happening in the United States, but let me know!

Now I knew about this if you traveled abroad and made purchases, but this is the first for online transactions. This after they bumped my interest rate up 3% for no damn reason but to make money off of me. I was never late and always paid more or full each month. It seems like they always go after the people that try to make a living.

So if you use credit cards, be forewarned that you will have to review the card you are using. I am not sure about Master Card or Visa, but I betcha, they are doing it or will do it soon. I guess using PayPal may be the way. I did review their policies and it does not say anything about charging extra fees for sending money, just receiving it. I will have to test this with Play-Asia, E2046 or HLJ soon.

Let me know if you are seeing this on your credit card statements as well.

1 comment:

  1. Well, I have never been charged any additional fee for conversion with my Master Card. Which means there are 2 possibilities. Either Master Card doesn't charge any conversion fees, or it's something that happens only in some states and not here in the Czech Republic.


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