If you have been following this site, you know that I monitor the exchange rates that I receive on the credit and debit cards in my wallet.  But sometimes the rates I receive on my bank statement don’t make sense when compared to the local “street-money-exchange-booth” rates.  This week, my credit card exchange rate was better — and I don’t understand why.

The best local rate today (7-13-15) for exchanging USD to Thai Baht, was 33.88 ($1USD = 33.88 Thai Baht).

Using my capital one VISA card at three different places today, I obtained the rate of 33.92, substantially better than the best street rate of 33.88.

Using my chase MasterCard credit card, I took a bath.  And remember, Chase has NO FEES for foreign transactions!   I netted 33.72 … which compared to the street rate of 33.88, is TERRIBLE.

 

 

But the real injury came when I withdrew money using my Schwab ATM card.   If you have read anything I have written, you must know that I love my Schwab card and I get good rates (compared to Thailand street rates 98% of the time).   I received 33.87, which isn’t bad, considering that the BEST street rate for cash was 33.88.  But I still get disappointed when I don’t beat the best local cash rate.

So, this still becomes a glowing recommendation of my Capital One Venture card.  I beat the street rate 100% of the time.  Just look at todays results — I received 33.92 instead of the local rate of 33.88