Highest rate for foreign purchases
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Posts: 4,265 Forumite
in Credit cards
OK I know this defeats the whole object of money saving, but which credit card charges the highest for foreign transactions / purchases?
There is some sort of logic to my madness. For business expenses I get my money back. I have to travel ofen and pay for hotels, restaurant bills, etc via credit card, which are refunded back to me. Therefore I would like to find a card that charges the highest, so I can get more back (BTW is this moral / legal? I don't want to be breaking any laws).
Cheers
There is some sort of logic to my madness. For business expenses I get my money back. I have to travel ofen and pay for hotels, restaurant bills, etc via credit card, which are refunded back to me. Therefore I would like to find a card that charges the highest, so I can get more back (BTW is this moral / legal? I don't want to be breaking any laws).
Cheers
"An eye for an eye leaves the whole world blind" - Mahatma Gandhi
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Comments
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I can't quite see the logic here.
How do you hope to profit?
Surely your company pays the bill whatever it is, so how do you benefit from this?0 -
What on earth are you on about?
Surely it's not going to make the slightest difference what rate you get on the card?
You're re-imbursed for whatever your expenses are, yes? If you use a card which charges high fees then you will get slightly more from your company, but you've had to pay that higher bill anyway, so you don't gain anything. The only winner here is the credit card company.
Either I'm missing something really bloody obvious, or you are
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Probably me missing something!
For example hotel bill is $1000. With say Nationwide (no foreign charges) I would pay £550. If I paid with say Barclaycard (foreign charges) I would pay £560. In each case my company would foot the bill. However if I use the Barclaycard, I would pocket the extra £10 by using the Barclaycard instead of using the Nationwide. (Note I have not used correct figures, just wanted to show for illistration).
Or am I just talking nonsense?"An eye for an eye leaves the whole world blind" - Mahatma Gandhi0 -
???
If you use Barclaycard, it costs you £560, right? And they pay you £560. Nets out to 0.
If you use Nationwide, it costs you £550, right? And they pay you £550. Nets out to 0.
HOWEVER:
If you use Amex Platinum, and it costs you £560, and they pay you £560, you net out to 0, but you have earned 2% cashback -- £11.20.
So use the best cashback card you can get.I have five stars! This doesn't mean that I know anything about any of the things I post. I could be a raving lunatic, or a brilliant genius, or just some guy on the internet. In fact, I could be all three at the same time.
If anything I say makes sense, then do it. If not, don't. Don't blame me or my stars if you do something stupid because I suggested it. I'm responsible for my own stupidity only. You are responsible for yours.
Why, I don't even have five stars anymore! Aren't you glad you aren't responsible for my stupidity?0 -
OK me being stupid! Have the AMEX platinum, company money going on there already."An eye for an eye leaves the whole world blind" - Mahatma Gandhi0
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Can we give this guy a label of "not so bright" moneysaver?Jas0
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No. >:(please be nice to other MoneySavers. There's no such thing as a stupid question on here.
The guy who is not so bright is the one who won't admit it when he says something stupid. We all do it from time to time.
I have a lot of time for anyone who admits it when they say/do something stupid or wrong.I have five stars! This doesn't mean that I know anything about any of the things I post. I could be a raving lunatic, or a brilliant genius, or just some guy on the internet. In fact, I could be all three at the same time.
If anything I say makes sense, then do it. If not, don't. Don't blame me or my stars if you do something stupid because I suggested it. I'm responsible for my own stupidity only. You are responsible for yours.
Why, I don't even have five stars anymore! Aren't you glad you aren't responsible for my stupidity?0
This discussion has been closed.
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