Credit card usage and ATM

[trojanguy]

Hi Guys,

i will be flying to japan soon

would like to ask if i use my citibank credit card, will their exchange rates bad?

can i use my ocbc or dbs debit card also there?

 

[coldkey]

If you withdraw money from ATM using credit cards, you will be charge interest immediately from that day.

 

[anyhowsaysay]

Hi Guys,

i will be flying to japan soon

would like to ask if i use my citibank credit card, will their exchange rates bad?

can i use my ocbc or dbs debit card also there?

Credit card always don't have good exchange rates compared to those u can get from money changer locally.

Also got those extra fees that add on to your cost

 

[wiki-traveller]

credit card is acceptable at major outlet at Japan but will charge you exchange rate + service fee

 

[trojanguy]

which means to avoid cc at all cost and bring cash . thanks for the advice.

 

[anyhowsaysay]

which means to avoid cc at all cost and bring cash . thanks for the advice.

CC got some benefits like rebates or miles~
Especially for miles card, overseas spending normally carry better miles rewards

 

[Hetheone]

which means to avoid cc at all cost and bring cash . thanks for the advice.

Yes, the local Japanese will respect u more if u pay them cash.

 

[Gixxerfied]

I only use CC for big ticket items(Just 2 purchase at Gotemba P.Outlet)..

The rest all in cash..

If you use CC, it would be according to bank foreign exchange rates + admin fees(Different bank different pencentage) + visa/mastercard 1%..

But the bank should convert JPY to USD then to SGD although your statement will only show JPY>SGD..

 

[bluetwinkle]

Hi Guys,

i will be flying to japan soon

would like to ask if i use my citibank credit card, will their exchange rates bad?

can i use my ocbc or dbs debit card also there?

If you are using your card to make payment through the Visa or Mastercard functions in store, the exchange rate will not be as good as money changer unless JPY weakens during your trip. I will avoid using OCBC since OCBC has a higher bank admin fee than Citibank and DBS. In fact, my OCBC card is one of the card that I will not bring along for my trip.

If you intend to use them for withdrawing cash, I will advise you against it since after including all the service fees incurred, the exchange rate you get will be terrible.

 

[Gixxerfied]

If you are using your card to make payment through the Visa or Mastercard functions in store, the exchange rate will not be as good as money changer unless JPY weakens during your trip. I will avoid using OCBC since OCBC has a higher bank admin fee than Citibank and DBS. In fact, my OCBC card is one of the card that I will not bring along for my trip.

If you intend to use them for withdrawing cash, I will advise you against it since after including all the service fees incurred, the exchange rate you get will be terrible.

I think SCB has the highest at 2.5% while OCBC is around 1.8%..DBS/Citibank seems to be 1.5%

HSBC is 1.5% as well(I use this when buying Le Creuset & Adidas at Gotemba P.Outlet)..

Before the additional 1% imposed by Visa/Mastercard..

 

[sereneong19]

drawing money from their ATMs would makes you wanna pound your chest hard and found yourself saying "i would rather use cc than withdrawing cash!"

Nuff said

 

[bluetwinkle]

I think SCB has the highest at 2.5% while OCBC is around 1.8%..DBS/Citibank seems to be 1.5%

HSBC is 1.5% as well(I use this when buying Le Creuset & Adidas at Gotemba P.Outlet)..

Before the additional 1% imposed by Visa/Mastercard..

To add on UOB is 1.5% for all cards except the PRVI Miles series which is 2.25%. CIMB may be lesser but I don't think the cards are attractive enough for me to use overseas.

Banks issued AMEX cards usually have a higher fee than Visa or Mastercard cards.

Ever since the introduction of higher cash rebates for overseas spend, I started using my credit card as the eventual exchange rate will be lower than money changer assuming no major fluctuations in the currency.

 

[bluetwinkle]

drawing money from their ATMs would makes you wanna pound your chest hard and found yourself saying "i would rather use cc than withdrawing cash!"

Nuff said

I actually wonder how the rate is like for Citibank since it technically only charges for forex exchange and no service fee when withdrawal is done against a Citibank account through a Citibank ATM.

 

[sereneong19]

I actually wonder how the rate is like for Citibank since it technically only charges for forex exchange and no service fee when withdrawal is done against a Citibank account through a Citibank ATM.

you could actually call up citibank and check their daily forex rates. however, you will not know when the merchant will choose which day to have the transaction closed. so my best bet will be....check for the last 7 days rate and average it out. at least, the difference won't be that great

 

[darkhonour]

if withdraw from japan post bank "yucho", there will be admin fee on top of cc exchange rates

not sure if 7 bank atm has admin fee, but all cc exchanges rates are bad and should be only considered if really didn't bring enough cash

i never swipe card unless the item is really expensive; best is change in SG then bring over even if you have so much cash on hand

 

[darkmatt]

drawing money from their ATMs would makes you wanna pound your chest hard and found yourself saying "i would rather use cc than withdrawing cash!"

Nuff said

drawing cash there easy leh