What is the American Express Platinum card exchange rate?

The American Express exchange rate varies on the type of currency conversion you select at the time of purchase. So, there’s a different Amex exchange rate between the U.S. dollar and approximately 80 other currencies, and they all fluctuate from day to day. Popular Amex currencies include the Canadian Dollar, the British Pound, the Euro, and the Mexican Peso.... read full answer

What you should know about the American Express exchange rate:

• The Amex exchange rate is automatically applied to international purchases charged to Amex credit cards.
• American Express FX International Payments customers can access their accounts online to get the day’s exchange rates. These rates are not available to the public, but you can enroll for free if you have a U.S. business bank account. An American Express card is not needed.
• 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 on the other hand, publish their exchange rates continuously.

It’s also useful to know that 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.

The American Express Platinum card foreign transaction fee is 0%, which is a welcome break given the card’s hefty $695 annual fee.

It is worth noting that the American Express Platinum card is one of several American Express cards with 0% foreign transaction fees. The American Express cards that have foreign transaction fees charge 2.7% of any transaction made outside the U.S.... read full answer

American Express is accepted in more than 160 countries and territories internationally. That includes all the members of the United Nations, except for those under U.S. sanctions. Amex cards are more widely accepted in some international destinations than others, though. It should be pretty easy to find merchants that take American Express cards in Australia, Canada, Mexico and India, for example. But it will be much tougher in smaller countries that aren’t known for doing business with the U.S. or attracting American tourists. ... read full answer

Overall, American Express credit cards and prepaid cards aren’t nearly as widely accepted internationally as cards that belong to the three other major U.S. card networks. Visa is accepted in 200+ countries and territories. And Mastercard works in 210+. So you should probably bring a Visa or Mastercard credit card with no foreign transaction fee when you travel abroad, at least as a backup to your Amex.

On that note, it’s worth mentioning that some American Express credit cards will cost you more to use internationally than others. Several American Express credit cards have no foreign transaction fee. Others charge 2.7% of every international purchase.

The best American Express credit cards for international travel are the Starwood Preferred Guest and Gold Delta SkyMiles® cards. Both offer great travel rewards, including nice initial spending bonuses. Neither charges foreign transaction fees. And Amex waives their annual fees the first year your account is open.

You may also want to consider the USAA Rewards American Express Card, which is the best credit card on the Amex network for other types of international perks. It gives you very good travel insurance coverage, for example. And you can even get financial assistance for emergencies while you’re out of the country. You don’t have to worry about paying a foreign fee or an annual fee, either.