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Chase Visa from Amazon - All cards will be closed on March 15th, 2018

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  • Sep 12th, 2018 11:10 am
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Deal Addict
Apr 5, 2006
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Mississauga
Regarding exchange rate: I used this card at Buffalo last Saturday. Real rate was 0.9918 USD/CAD, my transactions were posted using rate 0.9950. The difference is about 0.3%.
Deal Addict
Oct 9, 2005
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Dealll wrote:
Jan 21st, 2013 10:24 am
Regarding exchange rate: I used this card at Buffalo last Saturday. Real rate was 0.9918 USD/CAD, my transactions were posted using rate 0.9950. The difference is about 0.3%.
The rate is set the day that transaction posts not the day of the transaction.
Deal Addict
Oct 8, 2006
2051 posts
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guessaaa wrote:
Jan 21st, 2013 10:49 am
The rate is set the day that transaction posts not the day of the transaction.
Exactly. And what is a "real rate"? For what hour, minute, day????
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Nov 28, 2007
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Whitehorse, YT
Dealll wrote:
Jan 21st, 2013 10:24 am
Regarding exchange rate: I used this card at Buffalo last Saturday. Real rate was 0.9918 USD/CAD, my transactions were posted using rate 0.9950. The difference is about 0.3%.
Deall probably meant Real rate was 0.9918 CAD/USD .... or 1.0083 USD/CAD. The difference is about 1.3%.
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Nov 28, 2007
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Whitehorse, YT
[QUOTE]You don't redeem points with amazon.ca

Every 2000 points earned are automatically redeemed for a $20 statement credit. [/QUOTE]

.... and keep in mind that many cardholders will never get any rebate. You have to spend $2,000 before you can get your hands on the $20 rebate at the 1% bonus rate .... less that $2,000 if some of your shopping is with Amazon.
Deal Addict
Apr 5, 2006
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Mississauga
Vasyl wrote:
Jan 21st, 2013 10:50 am
Exactly. And what is a "real rate"? For what hour, minute, day????
You have a point. But is this case it's easy: there is no trading on Saturday, "real rate" - is the rate at market close Friday, and it was 0.9918 USD/CAD. This rate was displayed all weekend long on my Android app.
Transactions were posted on Monday, when rate was even lower. But, they apparently used Saturday rate as authorizations already used 0.9950 rate, and same rate was posted on Monday.
Marzipan wrote:Deall probably meant Real rate was 0.9918 CAD/USD .... or 1.0083 USD/CAD. The difference is about 1.3%.
No, I meant exactly what I wrote: 0.9918 USD/CAD. Means canadian dollar is higher.
Marzipan wrote:
Jan 21st, 2013 11:07 am
.... and keep in mind that many cardholders will never get any rebate. You have to spend $2,000 before you can get your hands on the $20 rebate at the 1% bonus rate .... less that $2,000 if some of your shopping is with Amazon.
If you shop in US (or elsewhere abroad) frequently, you will get your rebate pretty quickly. If you do not - well, you probably don't need this card so badly.
Anyway, it's better than my Nordstrom card that send you $20 Nordstrom note that quickly expires. I had a chance to use it only once in 5 years.
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Dec 25, 2003
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Vancouver
Dealll wrote:
Jan 21st, 2013 11:56 am
You have a point. But is this case it's easy: there is no trading on Saturday, "real rate" - is the rate at market close Friday, and it was 0.9918 USD/CAD. This rate was displayed all weekend long on my Android app.
Transactions were posted on Monday, when rate was even lower. But, they apparently used Saturday rate as authorizations already used 0.9950 rate, and same rate was posted on Monday.
The rate you get from the card changes by the minute though (no 2 transactions will convert at the exact same rate), so I don't know how relevant it is to compare to Friday's closing rate.
General Radek had some good ideas.
Deal Addict
Apr 5, 2006
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1226 wrote:
Jan 21st, 2013 12:10 pm
The rate you get from the card changes by the minute though (no 2 transactions will convert at the exact same rate), so I don't know how relevant it is to compare to Friday's closing rate.
I did seven purchases on Saturday on different times of day, and all of them used exactly the same rate 0.9950
Hope that helps.
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Dec 25, 2003
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Dealll wrote:
Jan 21st, 2013 12:25 pm
I did seven purchases on Saturday on different times of day, and all of them used exactly the same rate 0.9950
Hope that helps.
And they've all posted? When you click on each transaction, next to "Conversion Rate" it says .9950 exactly? All of mine show 9 decimal places.

Here are 4 transactions I did on Dec 29 for example:

Conversion Rate 00000000.997014240 (posted Dec 30)
Conversion Rate 00000000.996973440 (posted Dec 30)
Conversion Rate 00000000.996882086 (posted Dec 30)
Conversion Rate 00000000.997177135 (posted Dec 31)

I made 4 transactions on Saturday (Jan 19) as well but they haven't posted yet.
General Radek had some good ideas.
Deal Expert
Mar 25, 2005
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1226 wrote:
Jan 21st, 2013 12:10 pm
The rate you get from the card changes by the minute though (no 2 transactions will convert at the exact same rate), so I don't know how relevant it is to compare to Friday's closing rate.
The rate is held constant on weekends.
Deal Addict
Apr 5, 2006
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Mississauga
1226 wrote:
Jan 21st, 2013 12:39 pm
And they've all posted? When you click on each transaction, next to "Conversion Rate" it says .9950 exactly? All of mine show 9 decimal places.

Here are 4 transactions I did on Dec 29 for example:

Conversion Rate 00000000.997014240 (posted Dec 30)
Conversion Rate 00000000.996973440 (posted Dec 30)
Conversion Rate 00000000.996882086 (posted Dec 30)
Conversion Rate 00000000.997177135 (posted Dec 31)

I made 4 transactions on Saturday (Jan 19) as well but they haven't posted yet.
Guess you are technically correct, I have the following rates:
00000000.994940978
00000000.994931209
00000000.994946659
00000000.995000000

But it's not much of a difference, is it?
This tiny discrepancy is probably due to rounding the CAD amount to the nearest cent.
And yes, they are all posted already.
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Dec 25, 2003
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Kasakato wrote:
Jan 21st, 2013 12:45 pm
The rate is held constant on weekends.
Not that I've ever seen in practice. I've always had a constantly changing rate, no matter when I make my purchases (which are almost exclusively on weekends). See my post above yours.
General Radek had some good ideas.
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Dec 25, 2003
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Dealll wrote:
Jan 21st, 2013 12:50 pm
Guess you are technically correct, I have the following rates:
00000000.994940978
00000000.994931209
00000000.994946659
00000000.995000000

But it's not much of a difference, is it?
This tiny discrepancy is probably due to rounding the CAD amount to the nearest cent.
And yes, they are all posted already.
Yeah does look to be rounding. So I guess the conclusion is 30 bp spread?
General Radek had some good ideas.
Deal Addict
Nov 6, 2003
3396 posts
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Marzipan wrote:
Jan 21st, 2013 11:07 am
.... and keep in mind that many cardholders will never get any rebate. You have to spend $2,000 before you can get your hands on the $20 rebate at the 1% bonus rate .... less that $2,000 if some of your shopping is with Amazon.
$2,000 spending before crediting to Statement is very reasonable. Other credit cards such as MBNA SC or CT Cash Advantage require you to spend more or wait longer before you get your hands on the rebate.
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Nov 28, 2007
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Whitehorse, YT
1226 wrote:
Jan 21st, 2013 12:59 pm
Yeah does look to be rounding. So I guess the conclusion is 30 bp spread?
Can anyone who shopped on Saturday post the USD amount, the CAD amount and quoted rate for a largish dollar amount ... just to confirm this 0.3% mark-up?

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