CBA Issued Diamond/Platinum AmEx Card Has ZERO International Transaction Cost

sauce2k on 09/01/2018 - 16:53

Hey guys,

Not sure if you all already know this but I just found out/confirmed with CBA today that if you have a CBA issued Diamond/Platinum AMEX card, there won't be any international transaction cost if you make a purchase overseas either in store or online. This policy was updated 3 months ago.

This is a massive win as it can be used to rack up points as well. I keep on forgetting to pay back my 28 degrees card :|!

Also, you don't need to pay with the Amex card to activate your overseas insurance.

Hope this helps!

Cheers!

Financial

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Comments

  • tin tin on 09/01/2018 - 16:58

    I wish it was for Gold card as well! Yes got told I don't need to pay for the flights using the card to get the insurance.

  • Baysew on 09/01/2018 - 17:08
    +3

    Was posted as a deal on 10/05/2017 No International Transaction Fees on Commbank Platinum & Diamond AMEX Cards

    Also posted in wiki Cards with No Overseas Transaction Fees

    This policy was updated 3 months ago.

    The policy was changed 1st July 2017. Standard fees and charges

  • dbui8743 on 09/01/2018 - 17:14

    The problem is overseas markets are not normally AMEX friendly.

    • jzdhgkd on 09/01/2018 - 19:41

      If you link the Amex into paypal many more places accept

      • dbui8743 on 09/01/2018 - 20:07
        +1

        I am thinking more along the line of actually spending the physical card. :D

      • T-man on 10/01/2018 - 00:23
        +1

        If you use PayPal, the point per $ spend will be 0.5, not 3 pts / $1

    • GreatWhiteHunter on 09/01/2018 - 20:27

      Really?

      Acceptance was good in Singapore, Hong Kong and The Philippines on my recent trip….

  • T-man on 09/01/2018 - 18:01

    They will soon axe the Amex to follow other big banks, they are the only big bank still issuing the Amex companion card.

  • madpig83 on 19/01/2018 - 10:45

    Any idea how the fx rate compares to Bankwest Zero or 28 degrees?

    • sauce2k on 19/01/2018 - 11:06
      +1

      I asked - they use MasterCard global exchange rate which is the same as 28 degrees

      • madpig83 on 19/01/2018 - 11:09

        Not doubting what you were told, but doesn't it sounds a little strange to use MasterCard rate for Amex?

        Does anyone have actual experience of a transaction to back calculate?

        • sauce2k on 19/01/2018 - 11:26
          +1

          Amex doesn’t have its own fx source. I just spent $5 usd on Monday , cba charged me $6.30 which is actually less than the official MasterCard global card rate on the day.

        • madpig83 on 19/01/2018 - 11:28

          @sauce2k:

          Thanks

    • Baysew on 20/01/2018 - 00:26
      +1

      While American Express does not publish an online calculator, rates for transactions in major currencies are comparable with other rates in the market

      How does foreign currency conversion work for credit cards?

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