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Credit Card Foreign Exchange Rate
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virgoguy
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 Sep 10 2013, 03:18 PM
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QUOTE(0 Replies to me (BETA) @ Sep 10 2013, 12:13 PM) Maybankard 2 VISA gold Posting date : 09-Sep-2013 Transaction date : 08-Sep-2013 Amount charged : US$110.84 Converted Amount : RM374.93 Exchange rate: 3.3826 ffuuuuu  I though MBB Visa/Master CC exchange rate suppose to be visa/master exchange rate + 1%? ( the 1% charges is confirmed by the MBB CS when I call them up to check) Based on your posting date, the visa rate should be 3.3411 (included 1%) |
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virgoguy
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Sep 10 2013, 04:02 PM
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hi guys
is it better to use cash(enough for non CC service) + MC at US or all cash at US
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virgoguy
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Sep 10 2013, 05:02 PM
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QUOTE(zenquix @ Sep 10 2013, 04:53 PM) Basically since Aug-01 it has been observed that MBB now charges much higher exchange rate fees and prior to that it was 1.25% above the rate @ posting date (modelled from data mining) and not 1%. Visa rate on Sep-9 = 3.308000 MBB rate = 3.3826 Effective new MBB charge = 2.5% mean the MBB CS is not updated? I just called them today to check it out  |
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virgoguy
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Sep 11 2013, 12:13 AM
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QUOTE(zenquix @ Sep 10 2013, 05:11 PM) some additional data points July 2013 = 1.25% Aug-2013 = 2.25% Sep-1 2013 = 2.25% Very clearly they bumped it up in August to 2.25%. Hope they did not just suddenly bumped it on Sep 9 onwards. If anyone have more datapoint, do share it. Need the posting date and rate. Edit: had a typo in the previous rate based on my July transaction statement using my MBB MC posting date 29/7 Trans date 28/7 THB 1848 -> RM193.47 So the rate would be 1THB = RM0.104691 Based on MasterCard website currency conversion on 29/7 1THB = RM0.102691 (0.104691-0.102691)/0.104691 roughly 2% This post has been edited by virgoguy: Sep 11 2013, 12:14 AM |
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virgoguy
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Sep 11 2013, 12:29 AM
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QUOTE(zenquix @ Sep 10 2013, 05:01 PM) @ the current high MBB exchange rate (sry no datapoints for MC yet). the points (0.4% value) will not cover it. Thus I would go for cash if you get a good rate for it. Consider Amex on weekends with the 5% rebate if it is still available. Would only use CC for the convenience or if the USD rate dropped to below your cash rate. MBB Master charge rate 2% MBB Amex charge rate 2.5% If really come to the point that for the sake of convenience, might as well use MBB Amex which come with 5X treat point instead of MBB Master(which used to be so call the lowest charge rate for oversea conversion)to cover the lose even though it is not on the weekend This post has been edited by virgoguy: Sep 11 2013, 12:32 AM |
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virgoguy
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Sep 11 2013, 08:10 AM
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QUOTE(zenquix @ Sep 11 2013, 01:41 AM) thanks for the data point Previous analysis showed Mastercard was based on transaction date rates with a 1% markup. However rates for 28/7 not available so we use 29/7. Base is MYR. 1 MYR = 9.625552THB ~ 1THB = 0.1038901457287852 The above transaction was 1 MYR = 9.551868506745232THBÂ ~ 1THB = 0.104691556864047 Thus the rate charged is 0.1046916-0.103890 / 0.103890 = 0.7% (not 1% as it is not based on the rates of 28/7) So the rate is still low in July for MC. If we can get datapoints for Aug onwards.... If you based on https://www.mastercard.com/global/currencyconversion/29/7/13 1THB = RM0.102619 so the end result is ~ 2% This post has been edited by virgoguy: Sep 11 2013, 08:13 AM |
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virgoguy
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Sep 11 2013, 09:39 AM
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QUOTE(zenquix @ Sep 11 2013, 08:25 AM) base currency should be set to MYR, not THB. Noted. Hopefully other can provide input for more data point collection |
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virgoguy
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Sep 11 2013, 01:30 PM
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QUOTE(zenquix @ Sep 11 2013, 11:44 AM) thanks based on available data so far, looks like Maybank increased all their CC forex rates by a flat 1% in August. Won't be surprised if Amex is the same. Can buy their share.. they cut their TP value (in other words their CC liability) by 20% and increase CC revenue by 1% If you based on Post #465 @doremon_p The MBB Amex charge rate still remain the same at 2.5% |
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virgoguy
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Sep 13 2013, 12:22 PM
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since Maybank master card no longer rated as the lowest exchange/admin charges, so which CC between SC Visa, MBB2K and OCBC Master has the best rate?
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virgoguy
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Oct 4 2013, 04:06 PM
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Hi Guys
Just back from US few days ago below are my MBB Master and Amex transactions
Posting date Trans Date Amount
(MC)
23/9 21/9 USD 59.31 190.42
23/9 21/9 USD345.86 1110.35
(Amex)
24/9 22/9 USD28 90.96
29/9 27/9 USD255.18 843.13
After rough calculation, Additional charge for MBB MC and AMEX is about the same. So MBB MC no longer so call lowest Bank charges cc
This post has been edited by virgoguy: Oct 7 2013, 05:07 PM
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virgoguy
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Jan 23 2014, 10:25 AM
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MBB2 Amex
Trans Date : 19/1/14
Post Date : 19/1/14
Trans amt : AUD$179.24
Amt Charged : RM534.58
Effective rate : 2.8908
MBB Amex rate : 2.9825
So that's is about 3.17%? dam exp
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virgoguy
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Sep 6 2016, 05:46 PM
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plan to buy air ticket from NZ air website. which credit card has better conversion rate?
PBB VS or MBB2 Master or MBB2 Amex?
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virgoguy
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Sep 13 2016, 04:32 PM
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Maybank2kard Amex
Transaction date : 7 sep 2016
Posting date : 8 sep 2016
Amount : nzd226
Amount charged : Rm702.07
Different : what's the formula?
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virgoguy
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Sep 8 2025, 09:11 AM
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12/08/25 RHB visa infinite
39332 Yen
Charged RM 1157.41
Visa calculator: RM 1134.60
Mark up over visa: 2.01%
I called bank for clarity. The bank insist that they only charge 1% on top of the visa rate. I compared the visa rate provided by the bank is actually already mark up 1%. Does that mean visa also charge 1%?
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