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January 23, 2006

Comments

I know what you mean! I had the same surprise recently. I was in Europe and used my American Express Card - like I always do when I travel. My understanding was that this was the most cost-efficient way to pay when traveling overseas. Apparently, American Express and other credit cards typically have favorable exchange rates. However, I noticed on my statement that they are now actually tacking on a 2% premium to the exchange rate. This surprised me. I don't think this practice has been happening for a while. Does anyone know?

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