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Re: Tidbit On UK Orders

To: Ulix Goettsch <ulix@u.washington.edu>
Subject: Re: Tidbit On UK Orders
From: Michael Graziano <mgrazian@ltcm.com>
Date: Wed, 30 Sep 1998 16:58:19 -0400
>received: from as01.us by ltcm.com (8.7.1/1.32(sec)-LK3) id QAA08458; Wed, 30 Sep 1998 16:58:57 -0400
Cc: "'spridgets@autox.team.net'" <spridgets@Autox.Team.Net>
Organization: Long-Term Capital Management,L.P.
References: <Pine.OSF.3.96b.980930130926.18347A-100000@saul4.u.washington.edu>
Reply-to: Michael Graziano <mgrazian@ltcm.com>
Sender: owner-spridgets@Autox.Team.Net
Just my experience:

Two summers ago I spent some time in the UK, France, Spain, and Switzerland.  
Most of my purchases
were financed through either my credit card or my ATM card.  According to the 
Chase rep I spoke to, 
the exchange rate that I was charged was the closing rate of the day prior to 
the transaction.  I
don't remember which side she said,  but she did say the rate was the same for 
credits and debits
(on the same day, of course)

Mike

Ulix Goettsch wrote:
> 
> On Wed, 30 Sep 1998, Daniel Thompson wrote:
> 
> > My experience has been that credit card companies give poor rates on
> > foreign exchange. For a larger purchase, you might want to shop around for
> > the best deal.
> 
> In general this is not true.  You usually get better rates when charging
> on your card than exchanging cash in a bank.
> 
>     Ulix                                                    __/__,__
> .......................................................... (_o____o_)....
>                                                            '67 Sprite


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