I've always been a bit boggled by this, but does anyone know why AMEX still charge international transaction fees on their cards?
I find it especially weird when it comes to their Explorer Card and how promotes traveling yet charges this fee.
Anyone on the inside know if this is going to change? Does AMEX in other countries still charge this?
get 28 degrees
Thanks for the advice
I've got another card for international transactions, but it doesn't earn points.
The points system is designed to devalue the points the more the users spend.
This means users have less buying power every year and have to increase spending to keep up with both the point's inflation and real inflation.
how promotes traveling yet charges this fee
It's how they make money.
They don't, if the transaction is in AUD.
If the transaction is in AUD overseas, changes are, you’ve been charged a high conversion fee by the merchant’s bank. This is often the case in Airports.
I think they mean when buying online e.g. Book Depository; Amex won’t charge a foreign transaction fee, but Westpac will
Yes that's true. But most other cards will still charge you foreign transaction fee even though the transaction is in AUD.
I've always been a bit boggled by this, but does anyone know why AMEX still charge international transaction fees on their cards?
Because it is pure profit…… and people put up with it.
The target market for people with high end cards like explorer are those where they have enough income they wouldn't even notice the fee.
They're a private company and can charge what they want.
And you're allowed to choose to use their service or to get another credit card that doesn't charge a fee.
Points earnt by paying the 3% forex fee aren't worth it but honestly what percentage of your statement is forex every month
Most US Amex cards don’t have fx fees, go to the US and apply one.
You don't need to, there's Amex global card transfer.
Because they can….
Get new credit card.
Problem solved