The Chase credit card exchange rate is the exchange rate quoted by Visa or Mastercard plus a foreign transaction fee between 0% and 3%. The network’s exchange rate will vary based on the date of the purchase, and the card network that’s used will depend on which Chase credit card you have. The foreign transaction fee will also vary by card.
Visa and Mastercard publish their exchange rates daily, while Discover and American Express don’t publish them at all. Some reports say that Mastercard tends to offer marginally better exchange rates than the others, but with so much volatility in the rates, this isn’t always the case. All in all, the differences in these exchange rates are negligible, and shouldn’t determine which Chase card you carry.
Ideally, though, you should always use a credit card with no foreign transaction fee when purchasing from international merchants. As long as you get a card with no foreign transaction fee and avoid dynamic currency conversion, the exchange rates you’ll pay on international spending with a credit card will be much lower than those you’d get converting cash with banks, credit unions, or airport currency exchange services.
The Chase credit card exchange rate is the exchange rate of your Chase card’s network on the date you make a purchase, plus the foreign transaction fee charged by Chase, which is either 3% or 0% depending on the card. At the card network level, there is a small difference in exchange rates between Visa and Mastercard credit cards, which make Mastercards a slightly better deal abroad. That said, there are very few Chase Mastercards available right now - most Chase cards are Visa.
Additionally, there are many more Chase Visa cards with no foreign transaction fees available than fee-free Chase Mastercards. The only Chase Mastercard currently available that has no foreign transaction fee is the IHG Rewards Club Premier credit card, which has an annual fee of $99. So you may be better off taking a small hit in the exchange rate by getting a Chase Visa card with no foreign transaction fees and no annual fee, such as the Amazon Prime Visa card or the Marriott Bonvoy Bold credit card. There are many more Chase Visa cards to choose from.
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