All no-FTF cards are not created equal

[mendelssohn]

Just because your credit card doesn't have a FTF doesn't mean that you are getting the same deal as other cards that don't charge FTFs. I see a lot of Cap1 and Discover fans quick to point out that their cards don't charge FTFs, BUT they are both at the very bottom of the list in terms of exchange rate compared to other cards that don't charge a FTF.

 

 

 

Just what is that market rate? I called customer service for my own cards, and compared the rates of several major banks to the mid-market exchange rate—that is, the mid-point between the buy and sell rates on the global currency markets. A fair warning, my confidence in the answers I received varies wildly. Chase and AMEX agents immediately knew the answer and told me how to find their daily rate in the future. Other bank’s agents did not know the difference between currency exchange rates and foreign transaction fees. I have listed applicable quotes from some of the agents I spoke with alongside the rates as illustration. Here are the rates as of January 30, 2015 after the market has closed for Japanese Yen to US Dollars:

• Mid-market rate: 117.54
• Chase: 118.46
• Barclaycard: 117.55—”We use Yahoo.”
• AMEX: 117.80
• US Bank: Four different agents unable to tell me
• USAA: Very polite agents, but four different calls yielded no results
• Citi: 117.53—”We use the Wall Street Journal Rate”
• Capital One: 117.28

This actually matches my experience and expectations. I’ve always found living overseas that Chase’s exchange rates, have been the most favorable. I’ve also found the rate at USAA (which I use for everyday banking) to be favorable, even if the agents couldn’t tell me what that rate was.

 

https://thepointsguy.com/2015/02/avoid-a-nasty-surprise-on-international-trips/

 

Cap1 is at the bottom of the list, and Discover is just ahead of Cap1.

 

That means that compared to Chase cards, you are "paying" 1% if you use Cap1 or Discover. Compared to Amex cards, you are "paying" .5%.

[TampaDude]

So...when traveling in Japan, use Chase and Amex...got it, thanks!

[mendelssohn]

So...when traveling in Japan, use Chase and Amex...got it, thanks!

 

FTFY

 

No, when traveling outside the US, use Chase and Amex.

 

It's not just Japan. The general exchange rates are in that order. The currency does not matter.

 

Another recent experience: https://creditboards.com/forums/index.php?showtopic=588883&p=5626332

Edited April 13, 2017 by mendelssohn

[TampaDude]

 

So...when traveling in Japan, use Chase and Amex...got it, thanks!

 

FTFY

 

No, when traveling outside the US, use Chase and Amex.

 

It's not just Japan. The general exchange rates are in that order. The currency does not matter.

 

Another recent experience: https://creditboards.com/forums/index.php?showtopic=588883&p=5626332

 

 

Ah, thanks...wanted to be sure it wasn't just Japan. Chase and Amex, baby!

[mendelssohn]

 

 

So...when traveling in Japan, use Chase and Amex...got it, thanks!

 

FTFY

 

No, when traveling outside the US, use Chase and Amex.

 

It's not just Japan. The general exchange rates are in that order. The currency does not matter.

 

Another recent experience: https://creditboards.com/forums/index.php?showtopic=588883&p=5626332

 

 

Ah, thanks...wanted to be sure it wasn't just Japan. Chase and Amex, baby!

 

 

Chase all the way as a primary.

[TampaDude]

 

 

 

So...when traveling in Japan, use Chase and Amex...got it, thanks!

 

FTFY

 

No, when traveling outside the US, use Chase and Amex.

 

It's not just Japan. The general exchange rates are in that order. The currency does not matter.

 

Another recent experience: https://creditboards.com/forums/index.php?showtopic=588883&p=5626332

 

 

Ah, thanks...wanted to be sure it wasn't just Japan. Chase and Amex, baby!

 

 

Chase all the way as a primary.

 

 

Is this superior exchange rate for all Chase cards or just their core offerings? I only have AARP and IHG right now because of 5/24.

[mendelssohn]

 

 

 

 

So...when traveling in Japan, use Chase and Amex...got it, thanks!

 

FTFY

 

No, when traveling outside the US, use Chase and Amex.

 

It's not just Japan. The general exchange rates are in that order. The currency does not matter.

 

Another recent experience: https://creditboards.com/forums/index.php?showtopic=588883&p=5626332

 

 

Ah, thanks...wanted to be sure it wasn't just Japan. Chase and Amex, baby!

 

 

Chase all the way as a primary.

 

 

Is this superior exchange rate for all Chase cards or just their core offerings? I only have AARP and IHG right now because of 5/24.

 

 

The exchange rate applies to any of their cards. Just make sure your card doesn't charge a FTF.

 

Honestly, a lot of people worry about FTFs when they don't even travel outside of the country.

[TampaDude]

 

 

 

 

 

So...when traveling in Japan, use Chase and Amex...got it, thanks!

 

FTFY

 

No, when traveling outside the US, use Chase and Amex.

 

It's not just Japan. The general exchange rates are in that order. The currency does not matter.

 

Another recent experience: https://creditboards.com/forums/index.php?showtopic=588883&p=5626332

 

 

Ah, thanks...wanted to be sure it wasn't just Japan. Chase and Amex, baby!

 

 

Chase all the way as a primary.

 

 

Is this superior exchange rate for all Chase cards or just their core offerings? I only have AARP and IHG right now because of 5/24.

 

 

The exchange rate applies to any of their cards. Just make sure your card doesn't charge a FTF.

 

Honestly, a lot of people worry about FTFs when they don't even travel outside of the country.

 

 

Truth.

[akadaisy]

You have my attention, so Imma ask for help/input.

 

International travel used to be rare in my house, but that changed this year (we each were selected for our respective company's annual awards trip). First trip was in February and I took the Cap1 Venture because of the FTF angle. Next trip is the first week in May, so if I'm going to get a different card the time is now. Going forwards we intend on traveling internationally once every year or two.

 

I'm sitting at 4/24 so I can *just* get in under the wire at Chase. Would CB consider CSP (with the current sign-up bonus) "worth it" for a relatively infrequent traveler?

[mendelssohn]

You have my attention, so Imma ask for help/input.

 

International travel used to be rare in my house, but that changed this year (we each were selected for our respective company's annual awards trip). First trip was in February and I took the Cap1 Venture because of the FTF angle. Next trip is the first week in May, so if I'm going to get a different card the time is now. Going forwards we intend on traveling internationally once every year or two.

 

I'm sitting at 4/24 so I can *just* get in under the wire at Chase. Would CB consider CSP (with the current sign-up bonus) "worth it" for a relatively infrequent traveler?

 

You need to do the math yourself to see if it's worthwhile. It is absolutely worthwhile in the first year.

 

Here's a recent example using the average income family spending: https://creditboards.com/forums/index.php?showtopic=575736&p=5614320

 

If you get a Sapphire card, get the Reserve, not the Preferred.

[akadaisy]

 

You have my attention, so Imma ask for help/input.

 

International travel used to be rare in my house, but that changed this year (we each were selected for our respective company's annual awards trip). First trip was in February and I took the Cap1 Venture because of the FTF angle. Next trip is the first week in May, so if I'm going to get a different card the time is now. Going forwards we intend on traveling internationally once every year or two.

 

I'm sitting at 4/24 so I can *just* get in under the wire at Chase. Would CB consider CSP (with the current sign-up bonus) "worth it" for a relatively infrequent traveler?

 

You need to do the math yourself to see if it's worthwhile. It is absolutely worthwhile in the first year.

 

Here's a recent example using the average income family spending: https://creditboards.com/forums/index.php?showtopic=575736&p=5614320

 

If you get a Sapphire card, get the Reserve, not the Preferred.

 

Thanks for the link Did the math and yes, even without the signup bonus the CSR is worth it if we travel once a year as planned. App submitted and got the "thanks, we'll let you know in 30" message Back to your regularly scheduled thread!

[swimmingwithsharks]

 

 

You have my attention, so Imma ask for help/input.

 

International travel used to be rare in my house, but that changed this year (we each were selected for our respective company's annual awards trip). First trip was in February and I took the Cap1 Venture because of the FTF angle. Next trip is the first week in May, so if I'm going to get a different card the time is now. Going forwards we intend on traveling internationally once every year or two.

 

I'm sitting at 4/24 so I can *just* get in under the wire at Chase. Would CB consider CSP (with the current sign-up bonus) "worth it" for a relatively infrequent traveler?

 

You need to do the math yourself to see if it's worthwhile. It is absolutely worthwhile in the first year.

 

Here's a recent example using the average income family spending: https://creditboards.com/forums/index.php?showtopic=575736&p=5614320

 

If you get a Sapphire card, get the Reserve, not the Preferred.

Thanks for the link Did the math and yes, even without the signup bonus the CSR is worth it if we travel once a year as planned. App submitted and got the "thanks, we'll let you know in 30" message Back to your regularly scheduled thread!

30 days from Chase is usually an approval. (It's the 7-10 letter that's the kiss of death). Fingers crossed for you. If you do any travel or restaurant eating, you will be amazed how quickly those UR points roll in on C$R.

[akadaisy]

 

 

 

You have my attention, so Imma ask for help/input.

 

International travel used to be rare in my house, but that changed this year (we each were selected for our respective company's annual awards trip). First trip was in February and I took the Cap1 Venture because of the FTF angle. Next trip is the first week in May, so if I'm going to get a different card the time is now. Going forwards we intend on traveling internationally once every year or two.

 

I'm sitting at 4/24 so I can *just* get in under the wire at Chase. Would CB consider CSP (with the current sign-up bonus) "worth it" for a relatively infrequent traveler?

 

You need to do the math yourself to see if it's worthwhile. It is absolutely worthwhile in the first year.

 

Here's a recent example using the average income family spending: https://creditboards.com/forums/index.php?showtopic=575736&p=5614320

 

If you get a Sapphire card, get the Reserve, not the Preferred.

Thanks for the link Did the math and yes, even without the signup bonus the CSR is worth it if we travel once a year as planned. App submitted and got the "thanks, we'll let you know in 30" message Back to your regularly scheduled thread!

30 days from Chase is usually an approval. (It's the 7-10 letter that's the kiss of death). Fingers crossed for you. If you do any travel or restaurant eating, you will be amazed how quickly those UR points roll in on Chase Sapphire Reserve.

I called in 2 hours after the app, and it was an approval after I completed verification. We have a trip coming up the first week in May so I'm hoping to get the ball rolling quickly.

[mendelssohn]

^