Can’t Live Without A Credit Card

using credit cards to beat the exchange rate

It is true — I am so dependent on credit cards that I couldn't live without one.  I remember many years ago when it was difficult to use cards in Asia, and we used cash for everything.  It was a pain to always have enough cash on me, and I received NO BENEFITS from paying everything in cash.

The best money exchange rate here in Thailand was 35.67 baht/USD today.

I didn't do as well this weekend.  I only received 35.53 baht/USD, unusually low when compared to the street rate.  Had I paid in cash, I would have saved $.57 USD had I used cash.  But for $.57, I was saved from having to carry a lot of cash, and I earned $2.93 in benefits.  I think it is a great trade-off.

using credit cards to beat the exchange rateusing credit cards to beat the exchange rate

The Chase charge was much worse, because it wasn't processed the following Monday (2-days later) and the exchange rate had dropped.  I received 35.32 baht/USD on these charges.  I would have saved $3.53 USD, had I been willing to get in the car and drive to a travel agent to pay for my ticket! 

using credit cards to beat the exchange rateusing credit cards to beat the exchange rate

Obviously I wasn't willing and I stayed in the airconditioned comfort of my home and bought my ticket online.  I earned (a minimum of) $7.11 USD in miles.

 

 

 

 

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