I actually found the answer to my question:
The exchange rate is set daily except wekeends and hollidays by the credit card. Not by the issuer ,meaning not by the bank or company that issues the card, but by Visa or MasterCard or Amex itself. Additionally on a 2006 law suit it was stablished no one could mark the rare up. So whatever rate is set by let say Visa will be similar ( normally better) than what you get if you go exchange money or if you Google the current rate online in the open market if you were buying and selling currencies..
One last important point, the Visa rate ( or MasterCard or discover etc) only applies if you elect to pay in that country currency. In many tourist areas , the credit card machine knows your credit card is from USA, so it will ask if you want to pay in dollars or whatever that country uses , choose that country , other wise you don't get the VISA conversion rate , you get the merchant , and it's way worse .
So all Visa or MasterCard or discove or Amex, no matter the annual fee will have the same exchange rate when you buy something on a foreign country if you choose to pay in that country currency.
So get a credit card with no yearly fee and no foreign transaction fees and you are set to shop till you drop in any country.
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