Das (Credit Card) Experiment
The internet has truly helped to flatten the world – and online shopping is, if nothing else, an excellent testament to this. I’ve made quite a few international transactions over the last few months (mostly on Amazon), but I’ve got no clue which credit card is actually optimal for such transactions (since each bank and card imposes a different fee on international charges).
I’ve tried some Googling, but haven’t been able to find comprehensive information on this query, so I’ve decided to do a little experiment to determine which credit card to use for future transactions. This is a very unscientific study, involving my three primary credit cards (Standard Chartered’s Manhattan Platinum, Citibank’s PremierMiles, and the American Express Platinum).
Essentially, I’m planning to make charges of US$10 and £10 to each card to determine which incurs the lowest cost in SGD, and thus decide which credit card to use for international transactions in the future. It may not matter much for small transactions like these, but I imagine that if I’ll be spending hundreds of dollars overseas over the next few years, the potential savings might be relatively substantial!
I guess the reason I’m posting this first is to check if anyone already knows the answer to this question. Or is there a reference chart somewhere with all the banks’ and cards’ neatly laid out for referencing? Anyone?