Tips for Newcomers
Credit Card: Purchase / Return
Tip: When using a credit card to make a purchase, try to shop at a store that will either refund you in cash, or issue you a credit voucher in case you have to return the item.
Did you know that in most cases when you use a non-US credit card to make a purchase, the credit card company will charge you a higher exchange rate on the debit than what they will credit you with if you return the item? For example, I used my Canadian Visa on January 6th to purchase a $65.00 item ($65.00 US DOLLAR @ 1.227076) = $79.76 … however, when I returned it to the store later that same day my credit card company credited me at a rate of ($65.00 US DOLLAR @ 1.150557 ) = $74.79. So even though I returned the item, I still lost $4.97 in this transaction.
Do you have a helpful tip that you’d like to share with newcomers?
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