The Amex Gold card exchange rate is American Express's exchange rate on the date you make an international purchase. American Express exchange rates change on a daily basis, but they do not make their exchange rates public. The rates do tend to be quite low, however.
While credit card exchange rates normally also include foreign transaction fees, the Amex Gold card does not charge foreign fees. This means the Amex Gold card will save cardholders 1.44% on purchases with international merchants, compared to the average credit card offer. As long as cardholders avoid dynamic currency conversion, the exchange rates they'll pay on international spending with this card will be much lower than those they'd get from converting cash with banks, credit unions, or airport currency exchange services.
There are American Express exchange rates for sending and receiving money in more than 80 currencies. They include the Canadian Dollar, the British Pound, the Euro, the Mexican Peso, the Russian Ruble and the Japanese Yen. The rate is automatically applied to international purchases charged to Amex credit cards. American Express FX International Payments customers can access their accounts … read full answeronline to get the day’s exchange rates. However, these rates are not available to the public.
Exchange rates between the U.S. dollar and all other currencies fluctuate daily. But because American Express does not publish them openly, it’s difficult to track them. Visa and Mastercard publish their exchange rates daily. Many reports say Mastercard offers slightly better exchange rates than Visa. American Express reportedly is closer to Visa than Mastercard.
It’s also useful to know that you can’t make foreign transactions directly from an American Express savings account. But if you make a foreign transaction using your checking account, debit card or prepaid card, the exchange rates are the same as those used for credit cards.
If you’re unfamiliar with foreign transaction fees, they’re a surcharge for using a credit card with a foreign merchant. Credit cards with foreign fees usually charge 1%-3% of the purchase price. That can really add up, especially since Amex’s 2.7% foreign fee is on the higher end of the spectrum.… read full answer
Here are the American Express foreign transaction fees:
American Express cards with foreign transaction fees charge 2.7%.
Many American Express credit cards have no foreign transaction fees.
Amex foreign transaction fees apply when you buy things abroad OR shop at foreign merchants online.
If you’re looking for an international credit card, it’s best to get one with no foreign transaction fee, and American Express does have a good selection. But American Express cards aren’t accepted by nearly as many foreign merchants as Visa and Mastercard. So you may find yourself somewhere your Amex won’t work. And that’s why it’s probably better to have a Visa or Mastercard for travel.
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