i thought that i they ask to pay in your own currency or Euros that you should choose euros as their conversion rate/ transaction fee could be really stupid - I guess if they do ask this question , you should ask what their ratof conversions is / what other charges would you get - Compare this to what your own card charges you - I got this from money saving expert ( a UK thing )
Chanel in Europe
- Thread starter Tanja
- Start date
My two cents from personal experience of traveling in Europe and working in payment industry.
The best way is to get a chip credit card from US without transaction fee. Most European countries don't have wide acceptance of old magnetic strip credit cards.
I have done a lot of research and Bank of America's travel reward is the best I found. No annual fee, no foreign transaction few and comes with chip and signature.
The best way is to get a chip credit card from US without transaction fee. Most European countries don't have wide acceptance of old magnetic strip credit cards.
I have done a lot of research and Bank of America's travel reward is the best I found. No annual fee, no foreign transaction few and comes with chip and signature.
Personally, I wouldn't open a new credit cards for this purpose unless you are looking for a new credit card anyway. Each time you open a new line of credit, and the more credit lines you have open, you likely reduce your credit score. Opening a new card is a hard pull, which reduces your score. If you are planning to make a big purchase, such as buying a house, you'll want your credit score to be as high as possible.
Yes, a foreign transaction fee is annoying, but for the amount you are saving in VAT and the price of the bag itself, is 3% a big deal? You'll still be getting a bag for less than what you'd pay in the US.
I totally get trying to save the most you can...I'm all for it but I wouldn't open a new line of credit just to save 3%.
Yes, a foreign transaction fee is annoying, but for the amount you are saving in VAT and the price of the bag itself, is 3% a big deal? You'll still be getting a bag for less than what you'd pay in the US.
I totally get trying to save the most you can...I'm all for it but I wouldn't open a new line of credit just to save 3%.
I use my card that offers the most points and doesn't charge a transaction fee. I just got back today and did not have a problem not having a chip. One store it didn't work, I called the number on the back of my card and they fixed the fraud alert immediately. (Within seconds of the call)
Thanks! Does opening a new card hurt your credit score? I thought it was a debit ratio thing?
I can't say for sure bc I don't know the credit agencies' scoring models. I would think that if you have no debt, opening a new line of credit probably won't hurt that much, if at all. These agencies don't know how much money you earn or how much you have saved in the bank so all they are basing it on is your payment history with your creditors.
Having less lines of credit open will be better than having more. This whole credit scoring thing is very finnicky yet something that is so important to everyone so why take a chance lowering your score (even if marginally) unless you absolutely need to. My two cents
I went to Europe Rome in 2012 and got Louis Vuiton handbag and wallet there, I forget if I used my credit card or debit card, both of them from Chase, and either Visa or Mastercard, sorry I couldn't remember exactly, but I remember they didn't charge me a fee on it. Also, you can claim your tax back at the airport, so it's a great idea to buy from Europe! Hope it helps.
Loo I have their card just haven't used it recently
Now do we have to pay custom duties? I just want to buy at 31 rue cambon lol the experience and all. Or can I claim as gift or just wear it?From my personal experience and extensive research prior to international travel, it is best to get/have/use a credit card with no foreign transaction fees. Also, you will want to have the charge in that country's local currency rather than USD as credit cards give a better currency exchange rate than the store(s). ALL capital one credit cards have no foreign transaction fees so if you already have a capital one card, you are good to go. Certain chase, BofA, and american express cards offer no foreign transaction fees so a quick google search on the cards you own or a phone call to you credit card company can get you a straight forward answer. If you are looking into opening up a credit card with no international fees, I recommend a capital one card because it provides 1.5% cash back on all purchases with no limit, and most of their cards have no annual fee.
As far as credit score goes, sure you may lose a few points for a hard pull when you apply for a new credit card. But the debt ratio, length of credit history, and number of good standing accounts is much more important. A google search will tell you the same. I have a credit score monitoring app on my phone and one is also provided with one of my credit cards and when I open up a new credit card, my score only drops a few points. But it's also possible to increase your score soon after opening a card by having a favorable debt ratio. So take it for what it is and do a bit of research on the web. Everyone develops their own opinion on credit scoring and opening accounts. There is no absolute right or wrong answer...it all boils down to your individual needs and personal finances.
Good luck!
As far as credit score goes, sure you may lose a few points for a hard pull when you apply for a new credit card. But the debt ratio, length of credit history, and number of good standing accounts is much more important. A google search will tell you the same. I have a credit score monitoring app on my phone and one is also provided with one of my credit cards and when I open up a new credit card, my score only drops a few points. But it's also possible to increase your score soon after opening a card by having a favorable debt ratio. So take it for what it is and do a bit of research on the web. Everyone develops their own opinion on credit scoring and opening accounts. There is no absolute right or wrong answer...it all boils down to your individual needs and personal finances.
Good luck!
I claimed my purchase on the custom form, but they didn't ask me to pay any import duty on it, so i guess you are okay with it. Normally they only check the ones with a lot of purchase overseas, or exceeds $10,000, hopefully you are not spending that much!
I claimed my purchase on the custom form, but they didn't ask me to pay any import duty on it, so i guess you are okay with it. Normally they only check the ones with a lot of purchase overseas, or exceeds $10,000, hopefully you are not spending that much!
Hehe i think under 10k.
Thats great?! Also the Euro is dropping slightly. I think if I am there why not get a few things.
By 20 % do you mean after VAT return?
Thats great?! Also the Euro is dropping slightly. I think if I am there why not get a few things.
I calculated a total savings of 27% on a boy bag over the US and that included custom declaration at US point of re-entry.