Lowyat.NET -> Finance, Business and Investment House -> Credit Cards, Debit Cards, Prepaid Cards and Loyalty CardsCredit Card Foreign Exchange Rate
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 Jul 16 2018, 10:36 PM
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#1
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Senior Member
5,828 posts Joined: Jun 2017 
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QUOTE(laymank @ Apr 5 2018, 02:49 AM) It is said that the latest BigPay card offers the best Exchange rate. Have used several credit cards and ATM cards and can confirm Bigpay gives amazing exchange rate. Most likely doing that to attract new card owners. |
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Jul 28 2018, 03:22 PM
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#2
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Senior Member
5,828 posts Joined: Jun 2017
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QUOTE(underscore_lee @ Jul 28 2018, 08:19 AM) Hi guys, say I need to buy something online in USD. I have citibank, uob and HLA Mach credit card. Which one should I use that have better conversion rate to MYR? I think, right now, the best card for that is BigPay. And I think Bank Raykat also have a card that's probably as good as Bigpay when it comes to currency conversion & charges.I saw the admin fees of both citibank and uob is the same, 1%. So does this means it will depend on the bank foreign conversion rate? Also, does buying on weekday versus weekends have any difference? I recall reading something about maybank charging higher admin fees for weekend transaction, I could be wrong. Thanks in advance! |
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Jul 28 2018, 03:41 PM
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#3
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Senior Member
5,828 posts Joined: Jun 2017
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QUOTE(underscore_lee @ Jul 28 2018, 08:40 AM) Hi bro, thanks for the quick reply! I only got these 3 credit cards so gotta use either one of them haha. In that case be prepared to pay about at least 2% higher than Bigpay. |
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Aug 24 2018, 07:01 AM
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#4
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Senior Member
5,828 posts Joined: Jun 2017
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QUOTE(SaviourV @ Aug 13 2018, 01:23 AM) Saviour-V teleports in... I think USD was around 4.08 thereabout at the time.Heya, folks. Just made an online transaction yesterday, for USD 25.00, with my credit card. Just curious if anyone can figure out the exchange rate used, and any charges that came with it. Here's what I know: Card used: Maybank Visa (Ikhwan, maybe? Not sure about that specifically) Payment (in USD): USD 25.00 Amount charged to my card: RM 104.55 So, can anyone provide the calculations for this? I'd really appreciate that. Saviour-V bows, and teleports out... So for your bank to charge you at 4.18 is about right. But if you uses Bigpay, you will be charge around 4.08. That is why, for the time being, Bigpay is the best card for foreign currency. |
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Aug 24 2018, 10:38 AM
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#5
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Senior Member
5,828 posts Joined: Jun 2017
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QUOTE(Sumofwhich @ Aug 24 2018, 03:25 AM) Is it better than CIMB Cash Rebate Plat? 2.53%-2% rebate = 0.53% fee, please advise tq My experience. Most CC charge about 2+% overall (currency rate + charges + whatever). Some card gives 1% rebate for overseas spending so you ended up with 1+% Hmm I guess 0.53% fee is the additional cost, whereas BP is 0 fee, close to XE.com rate according to previous post in this thread, so BP is the winner? I have not come across CC that gives 2%. I Would like to know which one does. AFAIK, for the time being, I don't know of any card better then BP for foreign currency spending. Sometimes slightly more and sometimes slightly less than xe.com so I consider that to be practically the same as xe.com |
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Aug 24 2018, 12:06 PM
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#6
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Senior Member
5,828 posts Joined: Jun 2017
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QUOTE(Sumofwhich @ Aug 24 2018, 03:59 AM) The CIMB Cash Rebate Plat gives 2% rebate for foreign currency spend, no? RM 30 monthly cap. https://ringgitplus.com/en/credit-card/CIMB...MasterCard.html Hmm, looks like I'll stick with BP and cancel my CIMB CR Plat with the SST charges coming in soon. CIMB used to have 1% unlimited rebate and discount for KLIA duty free shopping. They have stopped all that and that's why nowadays I don't use it. BP now have 0% fee. Once they start implementing that 1% and we don't know when, may be then look for another deal. |
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Aug 24 2018, 12:09 PM
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#7
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Senior Member
5,828 posts Joined: Jun 2017
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QUOTE(eddie2020 @ Aug 24 2018, 05:06 AM) Meaning we shall use cc top BP and use BP for outside? That's what I did. And I like their apps for tracking expenditures.One slight downside is, mine doesn't have this paywave feature. |
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May 12 2022, 11:28 AM
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#8
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Senior Member
5,828 posts Joined: Jun 2017
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Anyone having both Bigpay and Wise and using them overseas. Can give comments? Thanks. Steve78 liked this post
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Jul 21 2022, 03:42 PM
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#9
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Senior Member
5,828 posts Joined: Jun 2017
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QUOTE(leetan33 @ Jul 20 2022, 01:04 AM) Both work best at different scenario. BP keeps failing. Transaction can't go through. Hopeless.If you want to capitalise at a particular time where exchange rate is low, you should use Wise to exchange RM to your preferred currency first, and keep them in your virtual wallet. BigPay works based on real time currency rate. You will be charged based on the rate on your transaction date. |
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