PPMC adding foreign transaction fee starting on 7/25/21

[calyx]

Oof.  I'm doubly glad I went for the SDFCU option.
I pondered the PPMC (but also wanted to diversify and already have a Sync account), so I'm glad I went SDFCU.   It's a shame, though - I had recommended this card previously to people I know for the 2% + being able to use it without getting dinged by the FTF (we order pricey stuff overseas, those FTFs can get brutal).

[Anonymous]

I see from Doctor of Credit that TD Bank also added a 3% FTF, so I guess we need to start watching out in case this is wider thing!

[MoneyBurns]

BOOOOO BOOOOO!!!!!!!

Guess I'll have to hold on to my SoFi WEMC for dear life.

Applying for SDFCU is next!

[ChargedUp]

Does converting foreign transactions to US$ really cost credit card lenders that much? I figured the transaction fee would mostly offset this. 

And how is AOD staying above water with no FTF AND 3% back if this is the case?

[Anonymous]

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@ChargedUp wrote:

Does converting foreign transactions to US$ really cost credit card lenders that much? I figured the transaction fee would mostly offset this. 

And how is AOD staying above water with no FTF AND 3% back if this is the case?

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Credit unions have a unique situation since they don't have to answer to investors. Most members aren't going to be upset that the credit union is returning money to its members as long as doing so isn't jeopardizing the financial stability of the credit union. I would be very surprised to see a bunch of CUs add FTFs but I'm sure we will see more banks add them, at least to cards that aren't focused on travel. 

[GrandBay]

@Anonymous    is that for all of TD's cards? 

[blindambition]

Synchrony, making all your nightmares come true. There's a fine line between devaluing a card, and just making a card worthless. With other options out there, I'm going with worthless!!!

[Anonymous]

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@blindambition wrote:

Synchrony, making all your nightmares come true. There's a fine line between devaluing a card, and just making a card worthless. With other options out there, I'm going with worthless!!!

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I mean it's still a 2% cash back card with no minimum redemption or deposit requirements or other gimmicks. This will certainly be a hit for a number of people who rely on this card when traveling though. 

[Anonymous]

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@Anonymous wrote:

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@blindambition wrote:

Synchrony, making all your nightmares come true. There's a fine line between devaluing a card, and just making a card worthless. With other options out there, I'm going with worthless!!!

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I mean it's still a 2% cash back card with no minimum redemption or deposit requirements or other gimmicks. This will certainly be a hit for a number of people who rely on this card when traveling though. 

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No one should rely on a Sync card for anything. They are the definition of a hot mess. 

[blindambition]

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@Anonymous wrote:

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@blindambition wrote:

Synchrony, making all your nightmares come true. There's a fine line between devaluing a card, and just making a card worthless. With other options out there, I'm going with worthless!!!

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I mean it's still a 2% cash back card with no minimum redemption or deposit requirements or other gimmicks. This will certainly be a hit for a number of people who rely on this card when traveling though. 

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True, but 2% cards are a dime a dozen these days. Not all are gimmick free... I'm looking at you DC. Not all are free of redemption hurdles, but still...

This is why Verizon will stay my only Synch card, which was not to ever happen.