Wow, I just found out that Chase will send your bills here to Colombia for FREE!! And they will report your credit to the credit agencies in the US with a Colombian address!! I was amazed!! Larry

Posted on February 19, 2009


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and the benefit is....

Posted on February 19, 2009


i use the chase amazon.com credit card for almost all my purchases in colombia...no foreign transaction fee!

Posted on February 19, 2009


i have chase amazon also, and actually there is a 3% fee. Not sure where the discrepancy could be...check your exchange rate, it comes out of that. Larry, electronic statements. Save yourself the trouble and the planet. Go Electronic! Talk about damaging the environment, printing out duplicitous statements and then shipping them 7,000 miles or more...I urge you to reconsider,

ryan

Posted on February 19, 2009


how kind of them banks. now I only hope they don't charge you if on unemployment via a debit card. Did any of you gals/guys read about that? How low they can go these days!!!

Posted on February 19, 2009


3% too really adds up in time esp. when interest rates are so low and inlacion is getting ready to kick in.

Posted on February 19, 2009


I am confused why anyone would want statements sent to Colombia? I would just consider this to be a hassle and security issue (e.g., I would pay them something to NOT do this). I just pay everything online. I have gone to a lot of trouble to not get mail sent to me.

Yes, I can confirm the 3% charge for Amazon Chase credit card. I only use mine when charging USA dollars. I have debit cards that charge 0% and no fees (and I will reluctantly use as a credit card when buying air ticket in foreign currency, for example, to save the 3%, otherwise I always pay cash).

Here is the best source I have found that tells you the foreign exchange fees for the major credit, debit, and ATM cards (halfway through there are charts that detail the charges):

http://www.flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

Note that this information is not always obvious from bank or credit card companies so I have found the resource above quite useful.

If you are drawing out, say, $2000 USA dollars per month out of an ATM while living abroad, you will save $720 per year just on foreign transaction fees if you have a 0% fee card. And if there are no fixed transaction fees, you are saving even more. I started certain accounts entirely for this reason.

Kramer

Posted on February 19, 2009


Capital One credit card has a 0% foreign transaction fee. Thats the one I use when im in Colombia.

Posted on February 19, 2009


Chase indeed is 3% foreign tranaction fee but Chase is my company card. Another cool thing is that they have 6 years of past statements online. I will switch to paperless statements. But the credit history will reflect payments to the address here in Colombia. While this won't appear in the Colombia credit agency files this will appear in the US files as evidence that indeed I am living in Colombia (I don't know what's is worth other than proof to show Bancolombia down the line that indeed I pay my bills ontime when living in Colombia.

Larry

Posted on February 19, 2009