if the credit card spread or "load" is 0%, then credit card is the best. my credit card has 0% spread or "load" on purchase AND cash withdrawal. the credit card rate (which is based on interbank rate) is always better than the local money changer.ringo100 wrote: In fact, buying things on you CC will gernerally give you a better rate than changing the cash and then buying the item, as the FX spread is generally less.
I've done this for years with my American credit cards that charge renewal fees, mostly Amex. I have never paid an annual fee. I've never tried this in Singapore but it sounds like a great idea. I think that success will depend, in part, on your credit worthiness.durain wrote:i will give that a try with my Centurion Card, but somehow i dont think they will budge.
maybe you can share which credit card is that?durain wrote:nope, my VISA card is zero percent and zero fees. no load or spread. the rate i get is interbank rate. most of the time, i just use my VISA card to withdraw cash from any ATM, worldwide. i get the same rate for purchase.
Nobody in Singapore pays their credit card fees, they usually waive them instantly if you use the card at all. Hell, ABM AMRO's now doing a promotion offering all sorts of extra benefits if you actually pay the annual fee... but it takes a lot of freebies to make up for the guaranteed loss of $250!Strong Eagle wrote:I've done this for years with my American credit cards that charge renewal fees, mostly Amex. I have never paid an annual fee. I've never tried this in Singapore but it sounds like a great idea. I think that success will depend, in part, on your credit worthiness.
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