Capitalone cashback:The best card for overseas spending

sammyboy999

... but only during the first 3 months.

I've just spoken to Capitalone who confirm that, although there is a 2.75% foreign conversion fee, you still earn 4% cashback during the first 3 months.
You therefore earn 1.25% for all overseas purchases!!
:T

JohalaReewi

Not quite...

Say you buy something for 200 USD and the ex rate is $2 = £1.
The ex rate after the 2.75% commision becomes $1.945 = £1
So you pay £102.83 instead of £100.
Your 4% cashback on this gives you £4.11
Less the £2.83 commision you paid makes a net gain of £1.28 = 1.28%
So slightly better than 1.25%

sammyboy999

:T :T Nice !!

keeperbear

This also assumes that you get a decent $ to £ exchange rate from Capitalone. This is not guaranteed. Whilst I get a brilliant exchange rate with my Nationwide card, I am not sure the same applies with Capitalone.

sammyboy999

Surely you get the standard Mastercard rate (with the Capitalone loading charge on top).