Chip Lupo, Credit Card Writer
@CLoop
The GM Business™ Mastercard® exchange rate is Mastercard’s exchange rate on the date you make an international purchase. Mastercard exchange rates change on a daily basis, and they update these rates each day on their website.
While credit card exchange rates normally also include foreign transaction fees, the GM Business™ Mastercard® does not charge foreign fees. This means the GM Business™ Mastercard® will save cardholders 1.58% on purchases made abroad and through international merchants, compared to the average credit card offer.
As long as you avoid dynamic currency conversion, the exchange rates you’ll pay on international spending with this card will be much lower than those you’d get from converting cash with banks, credit unions, or airport currency exchange kiosks.
People also ask
Is using a credit card internationally a good idea?
Yes, using a credit card internationally is a good idea because it’s safer, since you don’t have to carry as much cash and all major credit card companies offer $0 fraud liability guarantees. Using a credit card internationally also gets you the best currency exchange rates, and it’s a great opportunity to earn rewards.
Not all credit cards are suitable for international use, however. It’s best to use a no foreign transaction fee credit card on the Visa or Mastercard network. There are several other things you should...
read full answer by WalletHub, Financial CompanyWhat do I need to know before using my credit card abroad?
Taking the following credit-card precautions will help you save money and avoid unnecessary hassle while using your credit card abroad.
- Get a no foreign transaction fee credit card. Do this before booking flights, hotels, etc. Foreign transaction fees will be assessed on any purchase made through a foreign merchant, even before you leave the U.S.
- Call your credit card company. Most credit card companies require you to notify them of international travel plans. If...
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