Using Amex vs Mastercard for foreign transactions (Non-USD)

taless

Hi,

Just want to confirm here, is it right to assume that it is always better to perform foreign transactions using Mastercard as compared to Amex?

My reasoning is that for Mastercard, any foreign transactions will be converted straight to GBP, while for Amex, it will go through USD first, then from USD back to GBP?

Any feedback will be appreciated!

simongregson

It doesn't make much difference, as AMEX only make one 2.73% exchange rate loading charge, even though 2 conversions are being performed. Most cards charge 2.75%. You would, of course, be better off with a post office or nationwide credit card, where no exchange rate loading is charged.

You might save a few pence with the mastercard, as I think their overall exchange rates tend to be slightly better.

Converting through USD won't make much difference.