Recently we were at Real buying phone cards (because when you purchase from Real, you get extra minutes for free with the Play cell phone service) and I decide to try out the exchange rates for my new Charles Schwab Visa. So I bought two cards at the same time - one with my trusty USAA MasterCard and one with my new Charles Schwab Visa.
This is what I found (I know it’s not scientific):
-The Exchange rate that I got for cash from the embassy (for government employees only) was 3.642.-For the 50zl charge, USAA charged me $13.57 ($13.44 for the purchase plus a foreign currency fee of $0.13). Their ROE was 3.720 (plus $.13)
-For the 50zl charge, Schwab charged me $13.42 (vice $13.44 from USAA). Their ROE was 3.725 but with no extra fee.For this transaction alone: USAA at the end of the year will give me 13 cents back – Schwab at the end of the month will give me 27 cents back.
Total end cost of the transaction shows USAA will give me that 50zl phone card for $13.44 whereas Schwab would give it to me for $13.15.If I didn't lose you with the incredibly boring numbers - The Charles Schwab Visa is blowing away its closest competitor, IMHO. Their biggest flaw still is that they don't allow you to sync with MS Money... But if I'm paying less everytime I use the card- I guess I can take the trade-off.
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