Do credit cards give good exchange rates?
Do credit cards give good exchange rates? And despite any differences, credit cards still give you a much better conversion rate than if you exchange money at an airport kiosk or at checkout.
What is the exchange rate when using a credit card?
The usual credit card exchange rate used for purchases made abroad is 2-4%. Credit card networks (i.e. Visa, Mastercard, American Express, and Discover) generally use conversion rates based on interbank rates they select from customary industry sources on the business day prior to the processing date.
What is the best way to avoid exchange fees?
Pay in the local currency You can avoid your credit card's foreign transaction fee entirely by paying for purchases in foreign countries using the local currency instead of your U.S. credit card (or American dollars, if the vendor accepts them.)
Is it better to use cash or card in Spain?
You might also notice that some small shops accept cards only for purchases above a certain amount, normally 10 euros. Also taxis usually take cards, but some do not or simply do not want to take anything other than cash. For these reasons, it is advisable to always carry a little bit of cash with you.
Is it cheaper to use debit or credit card in Europe?
Credit card transaction fees are typically higher than debit cards. Shops may charge a fee, and banks may charge a conversion fee for the payment. If the merchant hasn't displayed fee notices, travelers should inquire with the staff. Credit cards may be subject to ghost charges or temporary holds.