Amazon.ca Rewards VISA Card Commission Free Currency
Page 1 of 15 12311 ... LastLast
Results 1 to 10 of 144

Thread: Amazon.ca Rewards VISA Card Commission Free Currency

  1. #1
    Senior Member
    Join Date
    Jan 2011
    Location
    Toronto
    Posts
    802

    Amazon.ca Rewards VISA Card Commission Free Currency

    Just applied for this.

    Not sure if the deal has been posted on here before but the only forex fee is based on the Visa Rate. No additional pesky 2.5% or foreign currency transaction charge so useful if you spend time out of country / shop on foreign websites.

    Instant decision. You may have to call to verify information as I had to but then I was approved after they confirmed my ID.

    http://www.amazon.ca/gp/cobrandcard/


  2. #2
    Senior Member kcowan's Avatar
    Join Date
    Jul 2010
    Location
    Pacific latitude 20/49
    Posts
    4,653
    Yes this stands alone as a major option for anyone spending a considerable amount of time out of country. Also for frequent shoppers of eBay and amazon.com

    I am considering it to replace my Aerogold CIBC card.

  3. #3
    Senior Member
    Join Date
    Jan 2011
    Location
    Toronto
    Posts
    802
    Applied literally a couple of minutes before I posted this thread. The card is now set as the default payment method on Amazon.ca and my Amazon account has been credit with the $15 card sign up bonus.

    Another thing to note is this is also a cash back card with 1% anywhere and 2% on Amazon.ca. The only thing is the cash back is paid out every $20 so you have no option to accumulate for an annual payout.

  4. Remove Advertisements
    CanadianMoneyForum.com
    Advertisements
     

  5. #4
    Senior Member kcowan's Avatar
    Join Date
    Jul 2010
    Location
    Pacific latitude 20/49
    Posts
    4,653
    Is the $20 cash back applied to the outstanding balance?

  6. #5
    Senior Member
    Join Date
    Jan 2011
    Location
    Toronto
    Posts
    802
    Yes it is.

  7. #6
    Senior Member
    Join Date
    Jul 2011
    Location
    Toronto
    Posts
    899
    Saw a similar promotion for a Sears card, I believe, but when I read the fine print, it seemed like they controlled the exchange rate. No currency conversion fee, but iffy on the exchange rate. Just got myself a US$ VISA instead.

  8. #7
    Senior Member
    Join Date
    Jan 2011
    Location
    Toronto
    Posts
    802
    From what I read through the reviews and on trawling other sites the rate on the card is determined by Visa which is pretty much in line with the interbank rate.

    Just picking an example off the Visa site

    August 15th

    $1 USD = $1.036496

    Bank of Canada Noon Rate

    $1 USD = $1.0340

    So that's 0.02% different. That could be just due to the time of day which Visa processes the transaction.

  9. #8
    Senior Member leoc2's Avatar
    Join Date
    Dec 2010
    Posts
    374
    I think this online calculator link shows how they come up with the exchange rate:
    http://corporate.visa.com/pd/consume...r_ex_rates.jsp

    I assume you enter bank rate of 0%.

  10. #9
    Senior Member m3s's Avatar
    Join Date
    Apr 2010
    Location
    Classified
    Posts
    2,980
    I'm confused. Amazon.ca 2% rewards card that has no foreign transaction fees... Some kind of psychological warfare marketing? For comparison Americans get 3% Visa rewards from Amazon.com and it's cheaper with more selection to start....

    I used to order from Amazon.com once in awhile because I could package a wide variety of things into one shipment for very cheap. Now they block all shipments to Canada that Amazon.ca doesn't sell (which is pretty much everything......) I could ship to a US address, but I just go elsewhere instead

    It appears this card has no extended warranty, purchase protection or travel insurance which you can get for free with other cash back cards. Not sure if that matters because I've never used any of that. I'm trying to make an extended warranty claim and have no response. I noticed a huge difference between Visa service and MBNA service, and I see a lot of complaints about Chase service
    Amat Victoria Curam

  11. #10
    Senior Member m3s's Avatar
    Join Date
    Apr 2010
    Location
    Classified
    Posts
    2,980
    Actually this could be very useful for buying food, gas, accommodation and other foreign purchases with 1% rewards where you wouldn't use the warranty/protection/insurance for

    For booking flights or buying big ticket items, I would still use a premium card

    Amat Victoria Curam

Page 1 of 15 12311 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •