How to calculate the unrecorded exchange rate of credit card?
The exchange rate of credit card swiping is based on the integer multiple of the 6 digits you must enter when swiping your card at overseas POS. For example: you spend 1,000 yuan with a credit card overseas, but the number of times can be paid at Meituan. After making details on my credit card account, you can enjoy the credit card swipe exchange rate up to RMB 100,000. If you can shop and consume domestically during the agreed time period, you need to submit a temporary limit to our customer service one day in advance. Our bank will calculate whether you can activate the dual-currency function for overseas card consumption based on your actual situation. At the same time, given that a certain transaction fee is charged for overseas card swiping at the exchange rate, it is recommended that you do not enter the consumption and pay interest at one time when using the overseas card.
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The exchange rate of credit card swiping is based on the "one-time calculation" method of your consumption , that is, calculated based on the total statement amount of each period based on the repayment date of each period after the billing date. If you choose the minimum repayment, the transaction portion will be charged interest based on the entire cost of your card consumption.
How is the exchange rate calculated when using a UnionPay credit card overseas? Is it related to the bank? For example, will there be any differences between Bank of China and ICBC?
Overseas consumption with UnionPay cards can be used at merchants with the UnionPay logo. The settlement is in RMB, and the exchange rate is the UnionPay real-time exchange rate on the transaction day. Overseas consumption using non-UnionPay cards can use international organization logos, such as VISA, MasterCard, and JCB, and be settled in U.S. dollars or Japanese yen. The exchange rate is the exchange rate announced by the international organization on the day the transaction is recorded.
The above content is for your reference, please refer to actual business regulations.
How to know the exchange rate when paying US dollars with a credit card
It will be divided into the following situations
First, use the UnionPay channel to pay foreign currency, and use the dynamic exchange rate dcc at that time Convert.
Second, if you use a dual-currency credit card to swipe U.S. dollars through VISA or MasterCard, the actual amount swiped will be recorded in your account. Subsequent cardholders need to purchase foreign exchange for repayment, and the conversion will be based on the foreign exchange selling price of the card-issuing bank on the day of repayment. .
Third, if it is a full-currency credit card, please refer to the specific regulations of the card issuer. Some card issuing banks waive the 1.5 exchange fee. Some card-issuing banks convert the money based on the card-issuing bank's own preferential exchange rate.
That’s it for the introduction of how to calculate the credit card exchange rate.