Best Card for Foreign Transactions

[year2013]

Guys,
Could you please suggest me good credit card which can be paired with Amaze, right now I am using Citi CC with Amaze and the rates are very high!

For example for RM4400 exchange rate is showing SGD 1261 but Citi charged me 1286 which too high.

Even if I buy something from Amazon US, their exchange rates are better than what Citi charges these days.

Kindly advise

 

[reddevil0728]

Guys,
Could you please suggest me good credit card which can be paired with Amaze, right now I am using Citi CC with Amaze and the rates are very high!

For example for RM4400 exchange rate is showing SGD 1261 but Citi charged me 1286 which too high.

Even if I buy something from Amazon US, their exchange rates are better than what Citi charges these days.

Kindly advise

is your priority the fx or the points/miles?

 

[Ark Law]

Guys,
Could you please suggest me good credit card which can be paired with Amaze, right now I am using Citi CC with Amaze and the rates are very high!

For example for RM4400 exchange rate is showing SGD 1261 but Citi charged me 1286 which too high.

Even if I buy something from Amazon US, their exchange rates are better than what Citi charges these days.

Kindly advise

Do you even realise what rates you would pay depending on how you pay?

Pay with Amaze-linked Citi CC = Amaze's own FX rates (typically 1.8%+ markup on top of Mastercard rates)
Pay with Citi CC = Mastercard's FX rates + 3.25% fee
Pay with Citi CC using Amazon DCC = Amazon's SGD rate + 1% fee
Pay with Amaze-linked Citi CC using Amazon DCC = Amazon's SGD rate

Pay with Trust CC = Visa's FX rates
Pay with Trust CC using Amazon DCC = Amazon's SGD rate

Pay with Amaze-linked ICBC Global Travel CC = Amaze's own FX rates + 1.5% cashback
Pay with ICBC Global Travel CC = Mastercard's FX rates + 2.5% fee + 3% cashback
Pay with ICBC Global Travel CC using Amazon DCC = Amazon's SGD FX rates + 1% fee + 1.5% cashback
Pay with Amaze-linked ICBC Global Travel CC using Amazon DCC = Amazon's SGD FX rates + 1.5% cashback

 

[wira]

am assuming you don care about miles and only want best rates ?

for malaysia ringgit you can try iChange app. their rates esp for MYR is very good.

else can also try Youtrip, trust CC, wise as their rates are better compared to normal bank CC rates.

 

[year2013]

Do you even realise what rates you would pay depending on how you pay?

Pay with Amaze-linked Citi CC = Amaze's own FX rates (typically 1.8%+ markup on top of Mastercard rates)
Pay with Citi CC = Mastercard's FX rates + 3.25% fee
Pay with Citi CC using Amazon DCC = Amazon's SGD rate + 1% fee
Pay with Amaze-linked Citi CC using Amazon DCC = Amazon's SGD rate

Pay with Trust CC = Visa's FX rates
Pay with Trust CC using Amazon DCC = Amazon's SGD rate

Pay with Amaze-linked ICBC Global Travel CC = Amaze's own FX rates + 1.5% cashback
Pay with ICBC Global Travel CC = Mastercard's FX rates + 2.5% fee + 3% cashback
Pay with ICBC Global Travel CC using Amazon DCC = Amazon's SGD FX rates + 1% fee + 1.5% cashback
Pay with Amaze-linked ICBC Global Travel CC using Amazon DCC = Amazon's SGD FX rates + 1.5% cashback

Yes, but if you look at below comparison which option is better? To me now a days Option 2 is better as cashback is always less than this 1.8% markup by Amaze!

Option 1:
Pay with Amaze-linked Citi CC = Amaze's own FX rates (typically 1.8%+ markup on top of Mastercard rates)

Option 2:
Pay with Amaze-linked Citi CC using Amazon DCC = Amazon's SGD rate

 

[the.guru]

If you have refundable foreign transactions like air tickets or hotels both redemption and purchased, please charge to original AMEX like True Cashback card. If you use VISA, MasterCard and UOB/DBS AMEX and there is a refund, be prepared to lose on the 3.25% admin charge and lower exchange rate. Some banks can negotiate to refund the 3.25% admin charge and some cannot. Only original AMEX refund back amount very close or even higher than the original charge. You will cry or get a RUDE shock when you see the refund amount if you charge to VISA or MasterCard and UOB/DBS AMEX. Tried and tested.

 

[highsulphur]

If you have refundable foreign transactions like air tickets or hotels both redemption and purchased, please charge to original AMEX like True Cashback card. If you use VISA, MasterCard and UOB/DBS AMEX and there is a refund, be prepared to lose on the 3.25% admin charge and lower exchange rate. Some banks can negotiate to refund the 3.25% admin charge and some cannot. Only original AMEX refund back amount very close or even higher than the original charge. You will cry or get a RUDE shock when you see the refund amount if you charge to VISA or MasterCard and UOB/DBS AMEX. Tried and tested.

I'm surprised to see amex refund almost exact amount with no charge

 

[reddevil0728]

If you have refundable foreign transactions like air tickets or hotels both redemption and purchased, please charge to original AMEX like True Cashback card. If you use VISA, MasterCard and UOB/DBS AMEX and there is a refund, be prepared to lose on the 3.25% admin charge and lower exchange rate. Some banks can negotiate to refund the 3.25% admin charge and some cannot. Only original AMEX refund back amount very close or even higher than the original charge. You will cry or get a RUDE shock when you see the refund amount if you charge to VISA or MasterCard and UOB/DBS AMEX. Tried and tested.

Why is it a rude shock. I thought it’s expected?

 

[the.guru]

Why is it a rude shock. I thought it’s expected?

Cos the refund amount for VISA/MasterCard foreign transactions is much lower than the original foreign transaction charge even after the 3.25% admin fee charge. They don't use the exchange rate found at the VISA website. https://www.visa.com.sg/support/consumer/travel-support/exchange-rate-calculator.html

Example:
34,930 Japanese Yen AMEX True Cashback refund S$352.75
JPY 34,930.00 StanChart VISA refund SGD 326.20, both just 3 days apart!! After negotiating with the bank, they only refund the 3.5% admin fee. The lost in currency exchange I bear.

 

[Sethide]

Could you guys suggest a card with good perks (cash back or miles or points) where foreign transaction fee (if there is any) is included in the transaction like Amex True Cash Back and not charged in a separate transaction (like Citi Bank CashBack+)

I already use Amex when I can otherwise I use Revolut or Trust Bank. Looking for better option for foreign transactions.
Thank you.

 

[Trazora]

Could you guys suggest a card with good perks (cash back or miles or points) where foreign transaction fee (if there is any) is included in the transaction like Amex True Cash Back and not charged in a separate transaction (like Citi Bank CashBack+)

I already use Amex when I can otherwise I use Revolut or Trust Bank. Looking for better option for foreign transactions.
Thank you.

how would it matter if the foreign transaction fee is included in the transaction or not?

 

[Sethide]

how would it matter if the foreign transaction fee is included in the transaction or not?

For accounting standpoint (business expenses), separate transaction fee is troublesome.

 

[reddevil0728]

For accounting standpoint (business expenses), separate transaction fee is troublesome.

what is the priority, less troublesome or better perks?

 

[Sethide]

what is the priority, less troublesome or better perks?

Less troublesome. Foreign transaction fee charge within 1 transaction, no separate fee charges.

 

[reddevil0728]

Less troublesome. Foreign transaction fee charge within 1 transaction, no separate fee charges.

are you talking about those transactions where the charges are in SGD, but processed overseas?

Or those overseas transaction?

 

[Sethide]

are you talking about those transactions where the charges are in SGD, but processed overseas?

Or those overseas transaction?

I am talking about Overseas transactions - as using my card outside of Singapore in a foreign country and being charged in local currency (Not in SGD).

For SGD transactions processed Overseas, I just use Amex (when I can).

 

[reddevil0728]

I am talking about Overseas transactions - as using my card outside of Singapore in a foreign country and being charged in local currency (Not in SGD).

For SGD transactions processed Overseas, I just use Amex (when I can).

didn't realise citi cashback+ charges a separate line item for it. when it is overseas transaction.

by right should be more the norm to have the fees rolled into the settled amount in SGD.

so i guess which card u choose would be based on your usage pattern. like what u typically spend on and whether u r a miles or cashback person

 

[Sethide]

didn't realist citi cashback+ charges a separate line item for it. when it is overseas transaction.

by right should be more the norm to have the fees rolled into the settled amount in SGD.

so i guess which card u choose would be based on your usage pattern. like what u typically spend on and whether u r a miles or cashback person

I'm more a cash back person but for oversea transaction I am open to any suggestions.

 

[londonbowler]

Do you even realise what rates you would pay depending on how you pay?

Pay with Amaze-linked Citi CC = Amaze's own FX rates (typically 1.8%+ markup on top of Mastercard rates)
Pay with Citi CC = Mastercard's FX rates + 3.25% fee
Pay with Citi CC using Amazon DCC = Amazon's SGD rate + 1% fee
Pay with Amaze-linked Citi CC using Amazon DCC = Amazon's SGD rate

Pay with Trust CC = Visa's FX rates
Pay with Trust CC using Amazon DCC = Amazon's SGD rate

Pay with Amaze-linked ICBC Global Travel CC = Amaze's own FX rates + 1.5% cashback
Pay with ICBC Global Travel CC = Mastercard's FX rates + 2.5% fee + 3% cashback
Pay with ICBC Global Travel CC using Amazon DCC = Amazon's SGD FX rates + 1% fee + 1.5% cashback
Pay with Amaze-linked ICBC Global Travel CC using Amazon DCC = Amazon's SGD FX rates + 1.5% cashback

Can Wise and YouTrip get better than Visa or Mastercard FX rate for MYR? What about IDR, INR, VND and PHP?

 

[londonbowler]

If you have refundable foreign transactions like air tickets or hotels both redemption and purchased, please charge to original AMEX like True Cashback card. If you use VISA, MasterCard and UOB/DBS AMEX and there is a refund, be prepared to lose on the 3.25% admin charge and lower exchange rate. Some banks can negotiate to refund the 3.25% admin charge and some cannot. Only original AMEX refund back amount very close or even higher than the original charge. You will cry or get a RUDE shock when you see the refund amount if you charge to VISA or MasterCard and UOB/DBS AMEX. Tried and tested.

If you can ask for a overseas shipping VAT refund to go to a different card, is it better to send the refund to an Amex? to Amaze wallet?