3% credit card surcharge

[OceanDreaming2]

Could someone please answer if the 3% surcharge a tour company charges is the same as the CC surcharge? Or is an additional 3%?

[CruiserBruce]

Credit cards charge from 2.5% to as high as 4%. But most are between 2.5% and 3%. So that would probabaly be their way of covering the fees charged by the CC.

[peacebeach]

I don't know the answer to your question, but I know that Capital One credit cards don't charge extra for using your card outside of the US.

[OceanDreaming2]

I don't know the answer to your question, but I know that Capital One credit cards don't charge extra for using your card outside of the US.

 

We're using a Capitol One card - just wondering if the 3% charge a tour company charges is over and above what a CC usually charges in Europe.

[Globaliser]

Could someone please answer if the 3% surcharge a tour company charges is the same as the CC surcharge? Or is an additional 3%?

If the tour company says that it will add 3% to the price if you pay by credit card, then that will be added to the local currency cost. For example, a €100 tour plus a 3% charge will mean that they will send a charge to your card for €103.

 

How your credit card company converts €103 into your own local currency will depend on your card's terms and conditions. Many credit card companies work on the basis that they will convert into your currency at the inter-bank rate, and then apply a commission of 2%, 3%, 4% or whatever. If that's what your card does, then that's an additional cost to you.

 

If the tour company is adding 3% (ie charging you €103 for the €100 tour), that is done to offset the fees it has to pay to the bank for putting the credit card charge through. Typically, if it were to charge your card €100, it would only be paid €97 or €98 by its bank.

[MS52]

If you're talking about the 3% surcharge that the Russian tour companies charge, that is above and beyond what your credit card charges for a foreign exchange fee.

 

There are a few credit cards that don't charge the foreign exchange fee. The two I know about are Capital One and British Air Visa.

[OceanDreaming2]

Thanks for sharing your knowledge! :)

[hampshirelad]

UK cruisers need to look at the Post Office Master Card. It gives some of the best rates and lowest charges. We recently went on a 2 day Tour in St Pete - I was pleasantly surprised.

[janina]

I believe this is a tour operator charge, nothiing to do with your credit card. It costs a merchant usually 3% to process a credit card. So your TOUR OPERATOR is passing that charge along to you. I would pay cash, and save the 3%.

[Giantfan13]

Ditto

 

Cheers

 

Len