Using credit cards in India

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Canadian Dream
Member since: Jul 04

Posts: 177
Location: Calgary, AB
Post ID: #PID

Posted on: 27-11-05 20:39:28

When we moved here from the US last year we were using our US issued credit cards. My credit card company charged me and I paid them in USD. I noticed that I was getting a very poor exchange rate for CAD to USD conversion. I called up their call centre and was told that Visa (also MasterCard) charges a 2% premium to the issuing bank for foreign currency transactions and the bank in turn charged me 3% premium on the amount they got. The difference in the amount I paid was quite substantial by the end of the month. Needless to say, as soon as I could, I got a Canadian credit card and started using my Canadian card for Canadian purchases and US cards for US purchases.

I would suggest, if possible, you could get an Indian credit card as an add-on from family or friends and pay them off. It would be cheaper than paying in CAD.

rajand
Member since: Jun 04

Posts: 601
Location: Baroda, India.
Post ID: #PID

Posted on: 27-11-05 21:03:00

Credit card fraud tends to happen in all countries including India, US & Canada. So it is wrong to say that one should be careful to use credit cards in India.

In Calgary, we had a major duplicate credit card fraud unearthed by the police a few months ago. Infact there was also a scam unearthed by which debit card transactions were being recorded for making duplicate debit cards.

All international transactions on credit cards do involve a transaction fee.

Thanks & rgds.

Rajan.

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Fonzie
Member since: Aug 05

Posts: 65
Location:
Post ID: #PID

Posted on: 28-11-05 08:21:45

When I used an US credit card in India, a currency-conversion fee of 5% was added to the amount. So I wouldn't recommend using a non-Indian card in India.

hemant11
Member since: Sep 05

Posts: 28
Location: Calgary,Alberta & Mumbai
Post ID: #PID

Posted on: 15-12-05 19:12:17

I am very much sure that they charge extra money [some fix small amt] on use of ur candian cards in india as well as otherway round..
So I suggest not to use them there.. .but incase you really have to then there is no harm in doing so because this xtra amt charged is not a big amt. u can easily ignore it... the way most of above guys have ignored... or not noticed.

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Contributors: rajcanada(2) Manasvi(2) seenappa(1) Canadian Dream(1) rajand(1) meghal(1) Fonzie(1) manjari(1) hemant11(1)

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