we leave for Italy in less than 24 hours. new pope i hear! when we charge on a credit card, should we charge in euros or have it converted to dollars? thanks, we wanted to see the pope announced in person, darn mike
Posted by
Wichita
831 posts
Mike,
Charge in euro. See http://www.cardhub.com/edu/dynamic-currency-conversion/
Posted by
Oak Park, Illinois
4535 posts
Yes - ALWAYS have them charge it in local currency. It is sometimes called dynamic conversion and occasionally you will be asked if you want it. Some merchants will even make it sound so nice and easy for you. But when you have the merchant convert it to US dollars for you, you get THEIR rate - not the interbank rate that credit card companies use. And their rate will be higher and the merchant gets to keep the difference. Good deal for them, bad for you. Even for cards that charge a 1-3% currency conversion fee, that will still be better than the rate offered by any merchant. Enjoy seeing the new Pope!
Posted by
Tresana, Highlands Ranch, CO, USA
23660 posts
We tend to call the 3% that some credit cards tack on as the currency conversion fee in it really a foreign transaction fee and even if your credit card is charged in dollars the 3% foreign transaction fee will still be added so you save nothing having it posted in dollars. It technically is not a scam but close to it. Always charge in local currency. There has been some reports, especially for Spain, that the ATM is giving the option of charging in dollars. Have not seen it and the reports have been infrequent but you do need to be careful to keep everything in the local currency.
Posted by
OP
Terre Haute, IN, USA
32 posts
thanks, i thought we charged in euros. appreciate the confirmation. we really wante them to wait till we got there. how exciting to hear the bells (bet all over Italy) and the chance to be there at St Peters Square.
Posted by
victoria, Canada
11513 posts
Have fun its always nice to be somewhere when something special happens.