Foreign credit cards purchases at MEP rate

[elhombresinnombre]

I know that we only have had two transactions here and that's not a big enough sample size for drawing conclusions but could it be that the new M/C conversion rate is only being applied to cards denominated in US$?

 

[Maikito]

I know that we only have had two transactions here and that's not a big enough sample size for drawing conclusions but could it be that the new M/C conversion rate is only being applied to cards denominated in US$?

Interesting thought.

 

[Johnny]

I know that we only have had two transactions here and that's not a big enough sample size for drawing conclusions but could it be that the new M/C conversion rate is only being applied to cards denominated in US$?

It could very well be. Accumulating US dollars was the express purpose of the plan.

 

[ArgentinaVet]

Data point :
I charged about 8600 pesos last night at YPF on a USA citi AA Mastercard (2x miles on fuel ). It’s showing as pending for $50.67 USD. An FX rate of 172. If a favorable adjustment is made when the charge posts I will update.

 

[mariusdr]

I created an account just to reply to this thread, which I've been following. I've made two transactions with my GBP MasterCard:
1. For £13.33 on Dec 2 at 17h47 online to Flybondi (ARS 2,717)
2. For £3.14 on 8 Dec at 12h47 in person at La Anonima supermarket (ARS 645).

I used two different cards, both MasterCard, both GBP denominated. Today I received $1.65 (converted to £1.35 by card issuer) for transaction #2. This means the effective exchange rate was £1 = ARS 360. But I know for a fact that on Dec 8 the official rate was about ARS 206 and WU was paying about ARS 408. So, maybe it helps those with non $ denominated cards, you might get reimbursed but at a crap rate. And only with in person transactions (not online).

 

[duggie]

This transaction posted five days later at 3.46 CAD, a slightly higher amount than when it was pending. No refund, no nada.

Refund came today. Here's me trying to figure out the math for myself, I could be wrong

420 ARS purchase pended for 5 or 6 days at 3.38 CAD, made late night of Dec 3, Saturday/Sunday
Posted at 3.46 on December 9
2.5% Mastercard FX fee = 0.08
Refunded 1.52 on December 11
Cost for 420 ARS without FX fee = 1.86 CAD
Cost for 420 ARS with FX fee = 1.94 CAD
Blue CAD cost (Monday, Dec 5 rate), according to cuex.com = 1.83 CAD

ARS to CAD rate without FX fee > 1 ARS = .0044 CAD
ARS to CAD rate with FX fee > 1 ARS = .0046 CAD
Blue CAD rate on Dec 5, according to cuex.com > 1 ARS = .0043 CAD

If I were to make a 20,000 ARS purchase with my credit card on that date, it would have set me back $92 CAD on my card. In cash, it would have cost me around $86, without the WU transfer costs built in.

Say I wanted to make the same purchase today instead, the seller hadn't yet jacked up the price, and I made a 2-4 hour WU transfer from my Scotiabank account because I needed the thing right now: I would get a .0041 rate, plus a $5.82 CAD transfer fee, setting me back a total of $87.82 CAD. Of course, the exchange rate would be better today than 8 days back, and if you make bigger WU transfers it kind of amortizes (?) the transfer fee, but in the end, it all comes down to $4-5 CAD difference for an emergency purchase without thinking too much, or finding a decent WU that's open.

TLDR: Selon moi, for occasional purchases below $100 CAD, using MC is totally alright in a pinch.

 

[sts7049]

well, it seems to slowly be working. now visa just needs to get their act together.

 

[nikad]

I guess it might be time to apply for a new cc with no foreign transaction fees ( maybe even score some free miles or hotel points )

 

[Rich One]

I guess it might be time to apply for a new cc with no foreign transaction fees ( maybe even score some free miles or hotel points )

I forget the actual amount, but BofA flat charges on foreign purchases in addition to MC processing fee were sort of steep..? So will it become better than WU or MG?

 

[nikad]

I forget the actual amount, but BofA flat charges on foreign purchases in addition to MC processing fee were sort of steep..? So will it become better than WU or MG?

It is hard to predict tbh, but it is always best to have all the tools in place Also the WU fees are not nice and no codes lately...