Q – We will be making our third trip to Asia, this time Thailand and Laos. I am wondering if I should let the credit card company just work out the exchange rate when they bill us or should we try to exchange at a currency outlet here or abroad? We do have a Capital One Venture Card that does not charge the foreign transaction fees. I hate being ripped off by money changers. Maybe it’s a biblical thing.
A – Generally speaking, you are going to do better by just leaving it to Visa or MasterCard to charge you in US funds based on the conversion rate in effect on the date the charges are entered on your account. Currency offices, biblical or otherwise, charge fees and also make money on the conversion rate.