Are charge cards better for foreign exchange rates?

enviro

Whilst in Norway a group of us paid our hotel bills on our individual cards. The bills (in NOK) were identical and paid within a few minutes of each other but the amount charged in sterling was vastly different. Interestingly, the cheapest (at £680) was a Diners Club card and the others were around £820. This would more that cover the fee of the charge card!

Is this other peoples' experiences? And, whilst it is relatively easy to find out about commission charges and the like, I can't find a way of comparing what exchange rates the various card companies use on a day-to-day basis. Anyone any ideas?

dzug1

enviro wrote: »

Whilst in Norway a group of us paid our hotel bills on our individual cards. The bills (in NOK) were identical and paid within a few minutes of each other but the amount charged in sterling was vastly different. Interestingly, the cheapest (at £680) was a Diners Club card and the others were around £820. This would more that cover the fee of the charge card!

Is this other peoples' experiences? And, whilst it is relatively easy to find out about commission charges and the like, I can't find a way of comparing what exchange rates the various card companies use on a day-to-day basis. Anyone any ideas?

I'm not really believing those figures - that's about a 20% markup from Diners Club to the cards which just doesn't happen. At worst it should be around 3%

That suggests either a mega mistake (or rip off) on someone's part or Diners Club giving a discount on the bill as part of an offer - or maybe a hotel offer on Diners Club.

All the card companies use the same rate - it's only the commission, etc, charges that vary.

enviro

Yes, I'm thinking it was an error too; it just seems very odd! I'd still be interested to know if there is a way of finding out and comparing what exchange rates cards generally offer - they don't normally quote this in their blurb.

dzug1

http://www2.visaeurope.com/personal/travellingabroad/exchange.jsp gives the rates they use (rounded) before they add on their 2.75%-s or whatever. Mastercard's won't be significantly different.

I've read that RBS (which includes Tesco) set their own worse rates - and then add the %....