http://www.askmrcreditcard.com/creditcardblog/the-foreign-conversion-scam/ Latest Credit Card News, Reviews and Information Thu, 09 Feb 2012 07:48:57 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.askmrcreditcard.com/creditcardblog/the-foreign-conversion-scam/comment-page-1/#comment-257420 Ed Venter Wed, 21 Dec 2011 18:00:46 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=4158#comment-257420 A similar conversion scam by Dollar Rental Car (Cancun, MX) is to quote you in U.S. dollars on thier U.S. website. At the point of rental in Cancun, the paperwork then converts the US Dollars to Pesos at a 15:1 conversion. At the end of the rental you pay the 40% inflated pesos conversion rate which is charged on your credit card in Pesos, and then your card company converts the new higher Pesos rate back to US dollars at 10.50 Pesos to dollar requiring 40% more dollars to pay the indicated Pesos on your bill. Wammo... 40% hidden surcharge in a conversion shell game. A similar conversion scam by Dollar Rental Car (Cancun, MX) is to quote you in U.S. dollars on thier U.S. website. At the point of rental in Cancun, the paperwork then converts the US Dollars to Pesos at a 15:1 conversion. At the end of the rental you pay the 40% inflated pesos conversion rate which is charged on your credit card in Pesos, and then your card company converts the new higher Pesos rate back to US dollars at 10.50 Pesos to dollar requiring 40% more dollars to pay the indicated Pesos on your bill. Wammo… 40% hidden surcharge in a conversion shell game.

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