Credit Card Foreign Exchange Fees and Hidden Charges

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Post subject: Credit Card Fraud

Gaye Ash
Date: 11/25/2000 8:27 am CDT

I have written the Federal Trade commission and was referred back to the Banking commission on the subject of hidden charges on foreign currency conversion fees.
I am finding that contrary to what Citibank has told me, that "all" banks do "not" charge for convering foreign currency charges to U.S. dollars. after all it is just a matter of looking at the conversion rate chart for that day!
Please give me your opinion on this matter and I will let you know when I hear back from the Banking Commission.

Thank you, Gaye Ash

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Board Monitor- CA
Date: 12/7/2000 11:10 am CDT

Gaye,

There are quite a few posts on this board regarding this very topic that you may find helpful. Use the "search" link to locate posts that may be of interest to you.

Hope this helps!

Best Regards,
Curtis Arnold
CFCCT P.R. Director
http://www.cardratings.org

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Gaye Ash
Date: 12/7/2000 3:38 pm CDT

I WOULD BE VERY INTERESTED TO HEAR WHAT YOU FIND OUT. I THINK THAT THE 3% FEE CHARGED BY MOST BANK CARDS IS AN OUTRAGE SINCE THEY HAVE THE INFORMATION ON THE SAME COMPUTER THAT THEY ARE MAKING THE CHARGE ON. THE FINANCE CHARGES AND OTHER FEES SHOULD BE ENOUGH TO KEEP THEM GOING WITHOUT RIPPING US OFF FOR SOMETHING THAT I CONSIDER USARY.
WE TRAVEL A LOT AND CHARGE OUR TRIPS ON THE CARDS SO BY THE TIME A $9000 TRANSACTION IS CONVERTED, THAT'S ANOTHER $180, THAT I DON'T THINK SHOULD BE ALLOWED.
THANKS FOR LETTING ME VENT! GA

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