Chip Lupo, Credit Card Writer
@CLoop
The OakStone Platinum Card exchange rate is Mastercard’s exchange rate on the date you make a purchase, plus any foreign transaction fees. While Mastercard exchange rates change daily, the OakStone Platinum Card foreign fee is always 3% of the transaction in U.S. dollars.
It’s best to use a credit card with no foreign transaction fee when making purchases abroad or through international merchants. As long as you have such a card 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 when 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...
What is the Mastercard exchange rate?
The Mastercard exchange rate is the percentage that the network applies when converting U.S. dollars to foreign currency. Mastercard sets different exchange rates for approximately 150 other currencies, and they all fluctuate from day to day. You can easily see what exchange rate your transaction will have by going to Mastercard’s exchange rate calculator.
It’s very simple to use. All you have to do is put in the date, currency of the merchant, transaction amount, the...
read full answer by WalletHub, Financial CompanyDid we answer your question?
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