Credit Card.....when to use?

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parrot
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Credit Card.....when to use?

Post by parrot » April 28, 2019, 1:48 pm

I always use my US credit union visa card for fuel purchases (PTT stations) and large purchases such as hospitals or vehicle insurance. The rate is almost always what the spot-interbank market offers (https://www.poundsterlinglive.com/best- ... 2019-04-14). My credit union offers 1.5% back on all purchases, so the end result is I'm better off making credit card purchases than spending THB cash that I transfer over here (almost always with some sort of fees).
The tricky part is knowing where/when to use a credit card. HomePro seems to give a good rate, but Lotus gives a horrible rate. Does anyone know a quick/easy way to know the business's credit card rate....before using the credit card?



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jackspratt
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Re: Credit Card.....when to use?

Post by jackspratt » April 28, 2019, 2:20 pm

I don't think the vendor sets the exchange rate - that is up to the credit card provider ie Mastercard/Visa/etc.

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Re: Credit Card.....when to use?

Post by RLTrader » April 28, 2019, 2:30 pm

parrot wrote:
April 28, 2019, 1:48 pm

The tricky part is knowing where/when to use a credit card. HomePro seems to give a good rate, but Lotus gives a horrible rate.
Years ago learned never use CC at HomePro, will not believe things have changed.

At Tesco tell them you want "Thai Baht", and you will get the better exchange not their BS exchange.
parrot wrote:
April 28, 2019, 1:48 pm

Does anyone know a quick/easy way to know the business's credit card rate....before using the credit card?
No I don't, how that could be done is way beyond me, but
I use US credit card at a lot of places and most don't have what both HomePro and Tesco have "their own rate of exchange" with Tesco you have an option, never found one at HomePro.

Places I have used CC and got a good exchange, Tesco, BigC, Makro (not the food part), Tops, Roberson's, Index, long time ago Ngee Soon but think no longer avail, if even accept, think they want a service charge, but not sure & gas stations, and others you mentioned.
Only other thing to ad is when small shops will accept they just might want 15% service charge, sometime worth it, other times go somewhere else.

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Re: Credit Card.....when to use?

Post by RLTrader » April 28, 2019, 3:50 pm

whoa there got carried away.
might want 15% service charge
need to change that to 3%, a big difference, I think, sorry.

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Giggle
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Re: Credit Card.....when to use?

Post by Giggle » April 28, 2019, 4:54 pm

air tickets always use cc.

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semperfiguy
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Re: Credit Card.....when to use?

Post by semperfiguy » April 28, 2019, 6:23 pm

If you're using a Visa CC issued in the US, then you can find out the exchange rate on this site on the day of your purchase. It will usually be the following day before your account is debited, so look again the next day to see what rate they will be applying. I think there is a separate such site for cards issued in the UK, but I don't know what it is. I have referred to this site numerous times and it is always exactly correct. I did however use my CC at Robinson's once and they somehow gave me a horrible exchange rate that was even calculated on my receipt and I don't know how that happened. I will never again use the card at Robinsons.

https://usa.visa.com/support/consumer/t ... lator.html

Just enter "0" in the box for Bank Fee. If you have a Foreign Transaction Fee on your card then that will show up on your account as a separate debit (at least it does at my bank online). Plugging "0" will give you the true exchange rate.
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Re: Credit Card.....when to use?

Post by RLTrader » April 28, 2019, 6:50 pm

semperfiguy wrote:
April 28, 2019, 6:23 pm
I did however use my CC at Robinson's once and they somehow gave me a horrible exchange rate that was even calculated on my receipt and I don't know how that happened. I will never again use the card at Robinsons.

I must say I have not been shopping in Robinsons in a long time, so not sure of their policy.
I use a widget to get the current xchange rate, then record my purchase in Qicken's then check at CC site for what was charged, think widget gets its #'s from Yahoo, but not sure, what is charged and what I record in Qicken's is usually a few pennies difference on the + side, but there is a days difference, always a +1 day. So if I charge something on the 28th CC site will show 29th.

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Re: Credit Card.....when to use?

Post by UdonExpat » April 28, 2019, 11:07 pm

I use one of two US credit cards in Thailand because they don't have any foreign transaction fees. I ask to have the transaction processed in Thai Baht as I have found that to provide the best exchange rate. I use these credit cards at any business that will take them without adding a service fee. One of the cards gives me back 4% at petrol stations and 3% at restaurants and travel, and 1% at others. The other card gives back 2.5% on any purchase. Over the years I've found my need for Baht cash has diminished as credit card purchases have become more common.

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Re: Credit Card.....when to use?

Post by Stantheman » April 29, 2019, 8:56 pm

UdonExpat wrote:
April 28, 2019, 11:07 pm
I use one of two US credit cards in Thailand because they don't have any foreign transaction fees. I ask to have the transaction processed in Thai Baht as I have found that to provide the best exchange rate. I use these credit cards at any business that will take them without adding a service fee. One of the cards gives me back 4% at petrol stations and 3% at restaurants and travel, and 1% at others. The other card gives back 2.5% on any purchase. Over the years I've found my need for Baht cash has diminished as credit card purchases have become more common.
Any chance you might provide us with who the credit cards are through.

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Jello
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Re: Credit Card.....when to use?

Post by Jello » April 29, 2019, 9:37 pm

I'm also interested.

I know Capital One MasterCard doesn't charge me a FTF.

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UdonExpat
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Re: Credit Card.....when to use?

Post by UdonExpat » May 1, 2019, 6:18 am

Stantheman wrote:
April 29, 2019, 8:56 pm
UdonExpat wrote:
April 28, 2019, 11:07 pm
I use one of two US credit cards in Thailand because they don't have any foreign transaction fees. I ask to have the transaction processed in Thai Baht as I have found that to provide the best exchange rate. I use these credit cards at any business that will take them without adding a service fee. One of the cards gives me back 4% at petrol stations and 3% at restaurants and travel, and 1% at others. The other card gives back 2.5% on any purchase. Over the years I've found my need for Baht cash has diminished as credit card purchases have become more common.
Any chance you might provide us with who the credit cards are through.
The Costco Citi Card is the first card I mentioned, and requires a Costco membership. The other card is from USAA and requires a minimum of a $1,000 a month direct deposit into a checking account to get the 2.5%. Otherwise it's 1.5%.

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