Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this6:05 am
August 9, 2014
Offline
This card seems to be somewhat competitive when you put it alongside with other cards, however, due to AE's limited acceptability, I think it is only good for those that already have AE card and want to transfer to this card.
8:54 am
December 23, 2011
Offline
Jon said
This card seems to be somewhat competitive when you put it alongside with other cards, however, due to AE's limited acceptability, I think it is only good for those that already have AE card and want to transfer to this card.
Would this be.......?? We are sorry you can no longer use your Amex Cash Back card at Costco but we wish to inform you that you may roll your Costco card to our new innovative card .....just give us a call...
11:52 am
October 21, 2013
Offline
If I can't use it at Costco, then it wouldn't be much use to me. Not bad for people who need no-fee cards and who already have MC or Visa.
I can't stand these deals where the cashback promo rate is so time-limited. Very annoying considering that you have to put your credit rating on the line to get the darned thing.
1:40 pm
August 9, 2014
Offline
Loonie said
If I can't use it at Costco, then it wouldn't be much use to me. Not bad for people who need no-fee cards and who already have MC or Visa.
I can't stand these deals where the cashback promo rate is so time-limited. Very annoying considering that you have to put your credit rating on the line to get the darned thing.
The pay version seems really nice in terms of promotion through. Maybe you should get it if you need to spend frequently across the boarder, as you will earn even more than the Amazon.ca card as 5% cashback - 2.5% transaction fee is still better than the simple 1% from the card.
12:43 am
August 5, 2014
Offline
Loonie and Jon, you have to be careful that it is not only the 2.50% foreign transaction fee for converting to U.S. dollars but they are most likely making another 1.50% to 3.00% on top of this at the very least a spread or difference on the currency value at the time of conversion.
The smaller the transaction, the more it will cost on a percentage basis at the time of conversion from Canadian dollars to U.S. dollars.
2:15 pm
August 9, 2014
Offline
Jack Manning said
Loonie and Jon, you have to be careful that it is not only the 2.50% foreign transaction fee for converting to U.S. dollars but they are most likely making another 1.50% to 3.00% on top of this at the very least a spread or difference on the currency value at the time of conversion.
The smaller the transaction, the more it will cost on a percentage basis at the time of conversion from Canadian dollars to U.S. dollars.
You should check the fine print of the credit card, but from experience, they convert the money immediately while visa/mastercard generally only charge 1 % on the exchange rate, maybe it is more pricey for AE through.
11:22 pm
August 5, 2014
Offline
Jon, the only true way to know what any credit card is making on the value of any currency being exchanged is to look at the exact time by comparing the rate you paid and the rate available in the marketplace at that time.
It may also be more difficult than that because there are wholesale exchange rates that they buy in large volumes and charge higher exchange rates to consumers for small transactions of a few hundred or a few thousand dollars.
12:02 pm
October 21, 2013
Offline
I suspect that Jack is right about this. This is why there is a whole profession of currency traders out there.
4:48 pm
August 9, 2014
Offline
I think there is a website on AE/Visa/Mastercard where you can check their official exchange rate.
8:35 pm
August 5, 2014
Offline
Brian, buying Canadian bank shares may have worked in Canada so far. What about many other banks in the U.S., Europe, South America etc, that have declined to prices not seen 10 years ago or more. We are talking about 60% to 80% declines.
In Canada with Canadian banks overexposed to the almost 20 year straight rise in Canadian housing prices, 2.5 to 3.5 times higher, there should be concern about financials in general.
Please write your comments in the forum.