POSTED BY October 8, 2012 3:18 pm COMMENTS (3)ON
My company’s credit card needs the following 2 features::
1. Lowest Forex Mark Up Rate
2. Better Forex conversion rate
We take a lot of services from vendors in the US and all payments are done by credit card, details of which are with the U.S vendors. Since there are multiple transaction of multiple vendors in a month ( about 25-30 ), thus, it is not possible to go to the bank and do individual transaction for each payment to be made.
Now, in the present scenario, the HDFC bank credit card charges a whopping 3.5% Forex Mark Up Rate. I have also checked with ICICI and AXIS and they are no better. I have a feeling that may be one of tier-2 bank will be able to provide a better rate, anyone has sugggestion for a card offering lower mark up rate?
Secondly, the dollar conversion rate, at present, is the maximum that the bank charges, there are no preferred rates given even though our transaction run in several lakhs every month. Kindly suggest how we can get this reduced esp. when payment is done through credit card??