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Avoiding Foreign Transaction Fees


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I am in the process of purchasing an Alice Cooper's Nightmare Castle from Spooky. Got my first invoice today. This prompted me to start to investigate foreign transaction fees. Turns out standard Visa card charges are 3%. That's $300 on $10K. I was keen to avoid that!

 

I stumbled across this article from Choice magazine.

 

https://www.choice.com.au/shopping/online-shopping/buying-online/articles/foreign-transaction-fees-when-shopping-online

 

I chose to get the 28 Degrees MasterCard, not trying to be a shill for them or anything, haven't even received the card yet.

 

Wondering if others have investigated this in the past and what solutions they came up with.

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I use Transferwise for big international transfer or getting paid from European customers. The fees are minimal and I think they even provide a Mastercard now, although if you can wire the money, you don't even need it.
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Also have 28 degrees CC for all international transactions ONLY...saved a crap load BUT geeez talk about stinging you if you don't pay upfront and I hate the 3 day transaction wait, the inability to put a positive balance, and the T&C's on the CC - both to make you pay the exhorbitant fees. Also, not in your case but when using Paypal, let the card do the conversion - there rates are the best you'll get. Not a card for the average punter. Again, with conversion rate,paypal and transaction fees, a BIG saving.
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Also have 28 degrees CC for all international transactions ONLY...saved a crap load BUT geeez talk about stinging you if you don't pay upfront and I hate the 3 day transaction wait, the inability to put a positive balance, and the T&C's on the CC - both to make you pay the exhorbitant fees. Also, not in your case but when using Paypal, let the card do the conversion - there rates are the best you'll get. Not a card for the average punter. Again, with conversion rate,paypal and transaction fees, a BIG saving.
They were better in the past, allowing you to load up the card (using it more like a debit card) and so saving on cash advances etc when overseas but sadly some of those benefits have been removed over time. Still great as you said with exchange rate and no foreign currency fees

 

Sent from my SM-G800Y using Tapatalk

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Can you set up automatic direct debit with them?

 

How about the 55 days interest free? Have you taken advantage? Can you just wait for close to that date and then pay?

 

 

 

 

Sent from my iPhone using Aussie Arcade

Think you can setup direct debit (I haven't). Yes they have 55 days interest free (except for cash advance) anf I pay close to the due date. There's now a 95c fee on payments but that's it

 

Sent from my SM-G800Y using Tapatalk

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Can you set up automatic direct debit with them?

 

How about the 55 days interest free? Have you taken advantage? Can you just wait for close to that date and then pay?

 

I dont use the direct debit facility as I use the "Pay My account" option. Too paranoid about their T&C's and the drama I went through below.

 

Yes I have taken advantage of the 55 free days but made it 40 days just to be safe with the stupid 3 day turnaround time. My first transaction I got stung and charged $50. I was overdue by less than a dollar and because I saw my mistake, I tried to pay the outstanding amount but couldn't because the initial payment was still going through and it doesn't allow you to have a credit / positive balance and then ended up going over my 55 days free. Disputed and received refund. I should have just let the $50 go because their support is the worst I have come across and will never get that 4 hours back!

 

To sum up, allow yourself some time on interest free days just for things like any account fee (95c bpay fee for example). Be aware of public holidays too!!

Great card if you use it within its limits

YMMV

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+1 for 28 Degrees MasterCard

 

Had it for years and use it exclusively when overseas and for foreign transactions. It was the best of the CC bunch at the time I got it; and still appears that way now.

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+1 for 28 Degrees MasterCard

 

Had it for years and use it exclusively when overseas and for foreign transactions. It was the best of the CC bunch at the time I got it; and still appears that way now.

 

I've never used them. But following this thread, I was tempted to get one. Typing "28 degrees mastercard review" into Google quickly leads to loads of horrible reviews.

 

After reading some of those, I decided to give it a miss. Your mileage may vary…

 

Michi.

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I've never used them. But following this thread, I was tempted to get one. Typing "28 degrees mastercard review" into Google quickly leads to loads of horrible reviews.

 

After reading some of those, I decided to give it a miss. Your mileage may vary…

 

Michi.

 

Alot of people complaining about the 95c charge, bad service and what Manny65 mentioned and the fact there is a lot of people out there that just don't use credit cards to their advantage and use it for credit because they want things that they cant afford.

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