CreditCards Blog

Hi,

I'm new to forums in general and I need some advice.
Are there any time restrictions on credit card transations abroad?

We went on a short trip to the US, bought some souveniers using the credit card. Payed it off in full when we got back, however on a recent statement a transaction has only just been processed. exchange rate in June 08 was $2.00 to the . I have been charged at the current exchange rate of $1.44, is this right?


Rayc01
:eek:

Hi there; unfortunately there are no legal time limits. The transaction will be authorised at the time, your firm will then hold the funds for roughly a week for the merchant to collect them.... if the merchant does not do this then the funds will become available again.

However... there is nothing to stop them collecting the ammount a year down the line... the exchange rate used will be taken from when the funds were converted so that is normal too.

Hope this helps

G