Overseas Spend with Amex

???

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Sep 13, 2019
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Hi Guys,

Was wondering if there is a formula or calculation anyone uses to figure out if spending overseas with an Amex card (to earn MR) is worth it considering the 3% surcharge on top? I presume it depends on the number of MR points earned per $ spent, thus the type of card you have? So is the Platinum card worth using overseas then on holidays or is it better to use something else?
 

kpc

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Hi Guys,

Was wondering if there is a formula or calculation anyone uses to figure out if spending overseas with an Amex card (to earn MR) is worth it considering the 3% surcharge on top? I presume it depends on the number of MR points earned per $ spent, thus the type of card you have? So is the Platinum card worth using overseas then on holidays or is it better to use something else?
I don't use my Amex for foreign currency purchases because of the high 3% surcharge. One exception is paying for car rental so I get the benefit of the generous Amex insurance eg up to 100K costs!
 

???

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I don't use my Amex for foreign currency purchases because of the high 3% surcharge. One exception is paying for car rental so I get the benefit of the generous Amex insurance eg up to 100K costs!
Thanks for the reply.

Is 3% actually that high? Spending $100 and paying $3 on top, isn’t it worth it for the 200MR? Maybe I’m looking at it wrong
 

kpc

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Thanks for the reply.

Is 3% actually that high? Spending $100 and paying $3 on top, isn’t it worth it for the 200MR? Maybe I’m looking at it wrong
I use Bankwest World MC for foreign currency purchases. No Fx fee (so save 3% ;) ), and I earn 1 QF points per $ spent up to $5000 per statement cycle, then 0.5 QF point per $ spent thereafter. In your example above, let's say you are TFering MR to Krisflyer miles. Your 200MR (which cost $3)= 100 KF miles so you are paying 3c per KF mile....too high in my opinion. I would buy KF miles if less than a cent each:) Note there is a good sign up offer for Bankwest Platinum MC atm
 
Last edited:

cove

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Yes we use BankWest World as 3% fee is too high.
In the US we do use our US Amex if there is no charge to pay with it.
 

knagelli

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Thanks for the reply.

Is 3% actually that high? Spending $100 and paying $3 on top, isn’t it worth it for the 200MR? Maybe I’m looking at it wrong
It is not just the 3% charge that you are paying but also reduced conversion if you are paying in local currency ( non AUD).

If you are paying in AUD card overseas in AUD , then it also has to factor in the conversion mark up that the payment processor uses to charge your card.

I always look at the hard currency value of points ( $ equivalent of points earned) before using my card overseas.

Hope this helps.
 

???

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Thanks for the advice guys
Post automatically merged:

True, Thanks for the advice guys
 

cove

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Feb 15, 2008
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We had US social security cards so we were ok to get US credit cards.
My youngest son has started with opening a Bank of America credit card to develop a credit file. He had to lodge funds to cover his first credit limit. Now he can get other credit cards.
 

andye

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Where are you buying KF miles for less than a cent each?
Post automatically merged:


How did you get a US Amex card?
There is a long thread within the Amex forum on how to do it without major US connections

Here...https://www.australianfrequentflyer.com.au/community/threads/strategy-to-obtain-us-amex.91605/unread
 

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