Overseas Spend with Amex

???

Junior Member
Joined
Sep 13, 2019
Posts
15
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?
 
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!
 
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
 
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
 
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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.
 
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.
 
Thanks for the advice guys
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True, Thanks for the advice guys
 
I would buy KF miles if less than a cent each:)
Where are you buying KF miles for less than a cent each?
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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.
How did you get a US Amex card?
 
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.
 
Where are you buying KF miles for less than a cent each?
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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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