Chase vs Capital One Foreign Exchange Rate

Capital One Venture One Card

For the past few months, I have noticed that the rate given by Chase for Foreign purchases has been getting worse.

Chase processes charges differently than Capital One Bank — and that can have a huge impact on what I am charged.

For example, chase doesn’t make the actual money conversion until the day of PROCESSING and POSTING.  That can be 2-3 days later than the actual charge.

Capital One Bank performs the conversion at the time of the charge, allowing for a more natural conversion.

The best street rate today in Thailand was 35.87 baht/USD.


Capital One Venture One Card

Look at the copy of my credit card statement above.  The fifth of September was a Saturday, so I don’t understand how there can be rate fluctuations.  For two charges, I received 35.79 baht/USD.  For the third charge, I received 35.91 baht/USD.

Based on today’s street rate, I received lower than street rate on two charges, and higher than street rate on one charge.

It gets worse when you review the charges on Chase Bank’s United Airlines card.

Terrible exchange rate at Chase United

Chase performed the conversion at 35.59 baht / USD!  Look closely at the statement and you will see that the charge occurred on September 5, but was not processed/posted until September 7!

In those two days, the exchange rate took a hit and I lost money because of it.

Unfortunately I am seeing this more-and-more when using the Chase card.



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