12 Aug '17, 4pm

FX Example for Credit card: Ok here’s a very recent example to tie in with my previous post about using credit card… https://t.co/bOYbUrVm5a

Ok here’s a very recent example to tie in with my previous post about using credit card vs cash overseas . We took an Uber in KL last week and charged it on our UOB One card. The credit card bill shows the below rate. UOB SGD 1.84 = MYR 5.61 SGD 1 = MYR 3.049 During my trip, I exchanged MYR in KL at the money changers. I went around hunting for a good exchange rate and monitored it for a couple of days. The rate stayed at SGD 1 = MYR 3.13 at best. This means that for the same Uber ride, if I used cash, I would have paid SGD 1.79. Which means that by using my UOB card, I have spent 2.79% more as compared to using cash. Not as high as I expected it to be previously. On my previous trip to KL a couple of weeks back, we ate at a restaurant. The credit card

Full article: http://thefinance.sg/2017/08/12/fx-example-for-credit-card/

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