Argentino45
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Oh really? How much if you don't mind me asking?
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Foreign credit cards purchases at MEP rate
- Thread starter ArgentinaVet
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earlyretirement
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This is awesome news. Just out of curiosity, why even charge on AMEX in the first place as they weren't offering the better rate? That's great and would love to hear of more experiences with AMEX.I'm getting refunds on Amex now
NomadTrader
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I just dont understand the excitement over using credit cards.
I've gone to the visa calculator site, and the exchange rate is like $342. Thats about 10% below the MEP rate, and certainly below what I can get through the services -even with their higher service fees.
I've gone to the visa calculator site, and the exchange rate is like $342. Thats about 10% below the MEP rate, and certainly below what I can get through the services -even with their higher service fees.
It's good in a pinch if your transfer is delayed or you're waiting for WU to rise, but the gap is very noticeable. For example, assuming your CC issuer charges no markup fee, you're still taking a bath. The MEP was around 378 at close on Friday and the visa rate on 0% markup was 352.61, which means they're taking around 7%. The CCL closed at 400 on Friday which makes it almost 13%, closer to 10% once the WU rate is updated today or tomorrow.I just dont understand the excitement over using credit cards.
I've gone to the visa calculator site, and the exchange rate is like $342. Thats about 10% below the MEP rate, and certainly below what I can get through the services -even with their higher service fees.
earlyretirement
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I just dont understand the excitement over using credit cards.
I've gone to the visa calculator site, and the exchange rate is like $342. Thats about 10% below the MEP rate, and certainly below what I can get through the services -even with their higher service fees.
It's just super convenient. Sure, for those that live in Buenos Aires long-term you would probably just exchange some cash and save but many people like me only go to Buenos Aires for work or short trips and you have to assign a value to your time. Time always = money. And the time you spend going to exchange the money along with the possible risks of something happening during that exchange. (Possibly getting robbed, followed to your apartment, getting counterfeit bills, etc).
For tourists this is a no brainer and makes it so easy. Sure, you can get a better rate bringing cash but there are a lot of risks of something happening to Cash vs. just charging to a credit card.
Credit card charges are effortless and easy to do and totally avoids having to deal with cash which has to have some value placed to it. I'm still amazed that the government was able to pull this off. It's clear to see with the volume of $ spent how valuable this is to people.
Plus this leaves no real "paper trail" in Argentina from having to have records of you sending cash all the time into Argentina. I don't honestly see any real way that Argentina would even know what you were doing in Argentina financially if you are using a credit card issued outside of Argentina. Western Union is definitely being tracked so there is that reason too.
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time is valuable as well. I will always choose using a card over having to go pick up cashI just dont understand the excitement over using credit cards.
I've gone to the visa calculator site, and the exchange rate is like $342. Thats about 10% below the MEP rate, and certainly below what I can get through the services -even with their higher service fees.
Is mep now higher than dolar blue?time is valuable as well. I will always choose using a card over having to go pick up cash
earlyretirement
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Wow, according to this - https://www.ambito.com/contenidos/dolar.html It says it is. This is the first time I've seen this. Does anyone know why?Is mep now higher than dolar blue?
Just speculating here, but I have heard that there is a way for locals to buy (i believe unlimited) $USD legally at the MEP rate, so maybe demand for that has pushed it up?Wow, according to this - https://www.ambito.com/contenidos/dolar.html It says it is. This is the first time I've seen this. Does anyone know why?
even if it isn't I'm still using a card if the difference is 30 or 40 or 50 pesos. I'm not trying to chase maximum pesos all the timeIs mep now higher than dolar blue?
