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View Full Version : USD Service Charges - AMEX vs M/C

paleo
Jul 19th, 2006, 12:51 PM
I have a No fee Airmiles AMEX and PCF Mastercard

When I pay things in USD (from eBay, paypal etc) would the service charges be the same for both cards?

I'm pretty sure AMEX charges 2cent more on the dollar - just wondering if M/C would be the same or less.
nolookingca
Jul 19th, 2006, 01:05 PM
According to this RFD article, the AMEX Air Miles card has a 2.2% fee while the PC mastercard has a 2.5% conversion fee.
http://www.redflagdeals.com/deals/main.php/articles/credit6
tkyoshi
Jul 19th, 2006, 01:56 PM
It can also have to do with the rate being set by Amex Bank Canada is different than Mastercard's rate. For example if M/C's daily rate happens to be lower, even though M/C is .3% higher, it gives a slightly lower conversion.
paleo
Jul 19th, 2006, 01:58 PM
It can also have to do with the rate being set by Amex Bank Canada is different than Mastercard's rate. For example if M/C's daily rate happens to be lower, even though M/C is .3% higher, it gives a slightly lower conversion.

I don't understand this. So which card is better to use for US purchases that will cost me less?
paleo
Jul 19th, 2006, 02:00 PM
According to this RFD article, the AMEX Air Miles card has a 2.2% fee while the PC mastercard has a 2.5% conversion fee.
http://www.redflagdeals.com/deals/main.php/articles/credit6

Thanks!!!
tkyoshi
Jul 19th, 2006, 02:04 PM
I don't understand this. So which card is better to use for US purchases that will cost me less?

Well i would assume AMEX since the % is lower, but if you want to know for sure you'll have to test both of them out (buy something on each on the same day) and see which gives the better rate.
thelefteyeguy
Jul 19th, 2006, 02:38 PM
I have a No fee Airmiles AMEX and PCF Mastercard

When I pay things in USD (from eBay, paypal etc) would the service charges be the same for both cards?

I'm pretty sure AMEX charges 2cent more on the dollar - just wondering if M/C would be the same or less.

actually i think paypal does the conversion for you
paleo
Jul 19th, 2006, 04:11 PM
actually i think paypal does the conversion for you

Negative, paypal just charges the credit card the USD amount. The credit card then tacks on a commission.

AMEX 2.2%
M/C 2.5%

But I have not verified by purchasing something on the same day with both cards.
paleo
Jul 19th, 2006, 04:13 PM
It can also have to do with the rate being set by Amex Bank Canada is different than Mastercard's rate. For example if M/C's daily rate happens to be lower, even though M/C is .3% higher, it gives a slightly lower conversion.

AHHH, I understand now! I just figured that the daily rate was set by the Bank and they were all the same (should be anyway).

My money is on AMEX being the better conversion rate.
jerryhung
Jul 19th, 2006, 04:14 PM
Negative, paypal just charges the credit card the USD amount. The credit card then tacks on a commission.

AMEX 2.2%
M/C 2.5%

But I have not verified by purchasing something on the same day with both cards.

Negative
PayPal ONLY charges AMEX in USD amount, while it will charge other cards (VISA/MC) in CAD amount (converted from USD, at a bad rate)

Wow, you sure post a lot recently, on top of the laptop threads
tkyoshi
Jul 19th, 2006, 04:26 PM
actually i think paypal does the conversion for you

You can select, it defaults to the Paypal conversion which is probably pretty similar (depends on your CC though). The nice thing about that is you know right away how much it is.

You also have the option of letting your credit card company convert the currency.

As mentioned AMEX is charged directly always.
thelefteyeguy
Jul 19th, 2006, 04:35 PM
You can select, it defaults to the Paypal conversion which is probably pretty similar (depends on your CC though). The nice thing about that is you know right away how much it is.

You also have the option of letting your credit card company convert the currency.

As mentioned AMEX is charged directly always.


thank you ...my last 2 transactions were processed with Paypal charging a fee for US conversion....my credit cards were in cdn$
eliteblaze
Jul 19th, 2006, 07:57 PM
I tried. conversation same as rbc visa convertion. which is signifcantly worse than the rbc capital amrkets rate
paleo
Jul 25th, 2006, 08:55 PM
Negative
PayPal ONLY charges AMEX in USD amount, while it will charge other cards (VISA/MC) in CAD amount (converted from USD, at a bad rate)

Wow, you sure post a lot recently, on top of the laptop threads

Really? I haven't used my M/C with PayPal in ages so I completely forgot. Anyways, i'm not sure why it's stated that AMEX charges a 2.2% comission when it is actually 2.5%. Not sure exactly what M/C is but i'm guessing it's accurate and the same. Must all be the same.

Yeah, I post alot! :) I guess i'm addicted to this forum. LOTS of knowledge and people that's forsure.
ilfsoy
Jul 26th, 2006, 03:41 AM
From personal experience and posted info I can say that PayPal charges 2.5% if you allow them to convert currency for you, this is the default option. Also credit card rates vary generally 2-2.5%, Citi MC for one charges 2%, so I give them the fee rather than PayPal. As you can see it is the bank not Visa or MC, etc. that set the rate.
Aske001
Jul 26th, 2006, 01:35 PM
You lose about 4% on USD -> Cdn credit card transactions between the credit card fee and the bad exchange rate. If you are doing a lot of big US$ transactions, you should probably get a US$ credit card and exchange your money elsewhere.