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From: greenber@timeinc.UUCP (Ross Greenberg)
Newsgroups: net.travel
Subject: Re: American Express or Diners Club ?
Message-ID: <163@timeinc.UUCP>
Date: Mon, 6-May-85 10:32:04 EDT
Article-I.D.: timeinc.163
Posted: Mon May  6 10:32:04 1985
Date-Received: Thu, 16-May-85 05:03:50 EDT
References: <1822@topaz.ARPA> <275@moncol.UUCP> <293@bdaemon.UUCP>
Reply-To: greenber@timeinc.UUCP (Ross M. Greenberg)
Organization: Time, Inc. - New York
Lines: 29
Summary: 

<>

What was indicated about the foreign exchange rate on credit cards
versus travelers checks may vary from card to card:

Recently I got nailed with a higher than expected bill from American
Express from my last European sojourn.  I put hotels and rented cars and
airlie tickets on the card.

American Express fixes the exchange rate for all (except airlines) not
on day of purchase, but rather on day of merchant deposit.  So, when the
dollar was falling from a high of 141 drachmas, my friendly merchant
held onto the AMEX receipt until it had fallen to 128, then deposited it.
I got stuck with a higher bill. Same thing happened in France and in Isreal.

Airlines, according to AMEX, fix their own rates!!  

Better check before you spend...

-- 
------------------------------------------------------------------
Ross M. Greenberg  @ Time Inc, New York 
              --------->ihnp4!cmcl2!timeinc!greenber<---------


"If ever the pleasure of one has to be bought by the pain of the other,
 there better be no trade. A trade by which one gains and the other
 loses is a fraud."         --- Dagny Taggert