8 Replies Latest reply: Apr 17, 2011 10:42 AM by nycuws10025 RSS

End of MR Chase Foreign Fees

profchiara Alumni Steward Silver 3 Reviews
Currently Being Moderated

I just received a notice of new benefits with my Chase MR Platinum Premier Card -- including one that really matters.  As of March 31, 2011, there will no longer be a foreign exchange fee of 3% added. Yippee!
ProfChiara

(For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: End of MR Chase Foreign Fees
    Alumni Steward Platinum 8 Reviews
    Currently Being Moderated

    Great news!  My brokerage has had a good exchange rate for a long time, but this makes my Visa card competitive.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: End of MR Chase Foreign Fees
    tef6178 Platinum 8 Reviews
    Currently Being Moderated

    Hooray!

     

    It's about time. These fees for exchange have been a thorn in the side of many cardholders. Since they (the CC companies) operate as banks, their really was no need for this fee. 

     

    When they started this idea to charge the customers a fee it made no sense to me. The transaction process itself allows them to make money on the transaction with the vendor fee and their money exchange as a bank allows them to make money when someone spends $$ to buy the currency the transaction was done in.

     

    Thank goodness they have adopted a new process.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: End of MR Chase Foreign Fees
    nhtraveler Platinum 3 Reviews
    Currently Being Moderated

    This is fantastic news, and just in time for my trip in June to Scotland. I now know which card I will be using on this trip!

    nhtraveler

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: End of MR Chase Foreign Fees
    mikiegfla Platinum 4 Reviews
    Currently Being Moderated

    Guess I can cancel my Capital One card.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: End of MR Chase Foreign Fees
    profchiara Alumni Steward Silver 3 Reviews
    Currently Being Moderated

    It's funny - I have a Cap One card that I always take with me to Europe but never use it.  Part of it is that once they refused the transaction even though I'd notified them and the other is that I wanted the points!

    ProfChiara

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: End of MR Chase Foreign Fees
    nycuws10025 Platinum
    Currently Being Moderated

    Let me add my voice to those who are pleased by this development!

    .

    I am curious as to whether this benefit was offered by Chase or demanded/negotiated by Marriott?

    .

    Whle I don't plan to cancel my CapitalOne card just yet, I am pleased that I won't have to play the "two-card two-step" any more when traveling internationally to avoid this outrageous fee!

    .

    Thank you Marriott for whatever your involvement was in negotiating this for your guests.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: End of MR Chase Foreign Fees
    tef6178 Platinum 8 Reviews
    Currently Being Moderated

    It appears that a trend has started. I just got notice that my AMEX card is no longer going to charge the transaction fee.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: End of MR Chase Foreign Fees
    nycuws10025 Platinum
    Currently Being Moderated

    Interesting trend, TEF,

    .

    So far I have NOT received such notice with my Starwood Preferred Guest AMEX card, but technically that's an Optima card, not a true AMEX.

    .

    The first card I noticed - several months before I got my Marriott notice about this - was the Chase-issued British Airways card had eliminated international transaction fees.  In another thread here on Insiders, I voiced my hopes that Marriott, a company with true global reach would "flex a little muscle" when negotiating with Chase and get the same for us on the Chase/Marriott card too.  (I am not suggesting that my post had any influence in this happening).

    .

    I suspect that Chase and Amex saw enough dilution (to Capital One, which very agressively advertised their No International Fees policy?) or heard enough squawking from the very customers they want to keep (high-spend, international road-warrior types) that they must have figured the incremental income from the transaction fee wasn't worth the business I suspect they must have thought they were in danger of losing.

    .

    Of one thing we can be sure.  The credit-card issuing banks will find another way to hit us in order to maintain their profit margins!

    .

    I'd be interested in knowing if anyone who is the holder of a Cibitank-issued card (like the AAdvantage card, to name one) has received any such notice that Citi is also falling in line?

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

More Like This

  • Retrieving data ...