Foreign credit cards purchases at MEP rate

[arvest]

Get a Sapphire Reserve, you get 5x rewards points on travel purchases & 0% commissions (which most purchases in Argentina qualify as). The annual fee of 450 us pays for itself fairly quickly with all the travel perks.

That means with current visa rate, after you pay it off the real rate is 433.59 (412.94+5%). 433.59 is still 4.7% less than the 455 a cueva would pay, but to change money at a cueva, unless you live there, you also need to pay transport (taxi, gas, etc) & unless you go there everyday you're going to loose significant buying power by holding pesos. So 455 isn't the real rate & you save big $$$ only changing what you spend.

FYI "travel purchases" means plane tickets, hotels and similar, not everything as long as it's overseas.

 

[sts7049]

the government never did it before because in a way they're admitting failure. but, i think in times of desperation they realized how many dollars they could get their hands on by bringing this cash flow out of the streets. even though they would get more dollars in their hands if it were at the official rates, some is better than nothing when you are desperate.

 

[argentinaorbust]

FYI "travel purchases" means plane tickets, hotels and similar, not everything as long as it's overseas.

What does Chase typically count as travel purchases?​

• Airlines.
• Buses.
• Campgrounds.
• Car rental agencies (excludes RV and boat rentals).
• Cruise lines.
• Discount travel sites.
• Ferries.
• Hotels.
• Limousines.
• Motels.
• Parking lots and garages.
• Passenger trains.
• Taxis.
• Timeshares.
• Toll bridges and highways.
• Travel agencies.
• Vacation rentals

I also consistently get 5x rewards point on any restaurant too, which isn't included in the list.

 

[earlyretirement]

It's a win-win-win for the government, tourists, and even the credit card companies. Remember that credit card volumes went up significantly and will continue to go up as news spreads and people get comfortable with it. Also, people don't get the true MEP rate since they take a cut as part of the currency exchange, in addition to the fees they charge the vendors.

I completely agree. Because Visa/MC/AMEX is getting new found business. They are charging % and making spreads all on purchases they would not have gotten when people just go to cuevas and exchange cash, they totally miss out on this money. So to them, this is great too. It cuts them in on the action so it's not costing them money.

 

[De Callisto]

Except that "empirical observation" must be presented in language, which is always and everywhere subject to negotiation. Cf. Wittgenstein.

Well, Newton's Laws of Motion are fairly unequivocal. On the other hand, you are correct regarding the negotiated approach to language as evidenced by this politician's classic gem under oath: “It depends on what the meaning of the word ‘is’ is. If the—if he—if ‘is’ means is and never has been, that is not—that is one thing. If it means there is none, that was a completely true statement." - Wm. J. Clinton ;0)

 

[earlyretirement]

the government never did it before because in a way they're admitting failure. but, i think in times of desperation they realized how many dollars they could get their hands on by bringing this cash flow out of the streets. even though they would get more dollars in their hands if it were at the official rates, some is better than nothing when you are desperate.

YES. Exactly this. No governments wanted to really acknowledge the blue dollar. Now they are just totally desperate.

 

[Argentino45]

does anyone know what this means? https://twitter.com/FinanzasArgy/status/1654199631406944284?s=20 is it mainly for qr codes?

 

[carride]

does anyone know what this means? https://twitter.com/FinanzasArgy/status/1654199631406944284?s=20 is it mainly for qr codes?

I was just reading the related published article. Does this mean apple and Google pay, and whatever others using QR will work the same as the non-resident using credit cards?

BCRA permitirá que turistas paguen con billeteras electrónicas al dólar MEP

La medida que alcanzaba a las tarjetas de crédito ahora incorpora otros medio de pago. Los turistas que gasten en argentina con billeteras virtuales se les considerará como referencia los dólares financieros

www.bloomberglinea.com

 

[sts7049]

that's what it reads like to me. although I don't really think this will add much for most folks. I never observed many places who accepted Google pay

 

[doubleup_dan]

I was just reading the related published article. Does this mean apple and Google pay, and whatever others using QR will work the same as the non-resident using credit cards?

BCRA permitirá que turistas paguen con billeteras electrónicas al dólar MEP

La medida que alcanzaba a las tarjetas de crédito ahora incorpora otros medio de pago. Los turistas que gasten en argentina con billeteras virtuales se les considerará como referencia los dólares financieros

www.bloomberglinea.com

Not apple pay as that already works in places that accept it. I have been using it for months. The problem is most shops dont know that they can accept it.