Exchange rate?

[flyboy08]

Schwab also offers the AMEX platinum which gives tons of benefits...yes at $450.00 it’s steep, but Schwab picks up 1/2 of the annual fee .offers $200 in airline credits per year...$10 month in Uber credits $20 in December....and access to airport lounges around the world which is my main attraction to this card....oh, and they reimburse $100 towards TSA Pre.

This with WW atm reimbursement makes schwaby a no brainer....

 

[mediumone]

and access to airport lounges around the world which is my main attraction to this card

Pretty attractive list of benefits!
Which lounges?
I assume the major airlines?
Any restrictions?

 

[flyboy08]

Pretty attractive list of benefits!
Which lounges?
I assume the major airlines?
Any restrictions?

You get the Priority Pass card...and all Delta and AMEX lounges.

 

[mstevens]

Schwab also offers the AMEX platinum which gives tons of benefits...yes at $450.00 it’s steep, but Schwab picks up 1/2 of the annual fee .offers $200 in airline credits per year...

You do have to specify in advance which airline, and it covers some things (in-flight drink purchases, for example) but not others (in-flight wifi, for example), and it doesn't cover airfare. We buy airfare vouchers on our preferred airline in $50 increments, though, which has always worked. Otherwise, we don't spend enough on eligible things.

$10 month in Uber credits $20 in December....

Unfortunately, Uber doesn't exist either of the places I live (the boonies of NH and Cozumel) so I've only used Uber a few times. The credits do not accrue if unused. This could be a real benefit to people who live in normal places.

and access to airport lounges around the world which is my main attraction to this card....

Priority Pass has not worked out to be a very useful benefit for us in general. It depends a lot on which airports you tend to end up in. For example, flying First Class between NH and Cozumel on American, we're not eligible to use the American lounge on our layover (AA considers flights to CDMX in First Class to be business travel, but not flights to where I go...) even with the PlAmEx cards or Priority Pass. At most US airports through which I've flown there isn't really a lounge you can access with Priority Pass. ORD and CLT have been major examples.

oh, and they reimburse $100 towards TSA Pre.

Which is the full application fee for TSA PreCheck, making it free. However, they'll also reimburse for Global Entry, and since that includes TSA PreCheck and anyone reading this thread is likely contemplating international travel, Global Entry makes more sense. Global Entry (or PreCheck) lasts for several years, but we've been able to get reimbursed when we've used the card to pay for the fees of others with whom we travel by doing it in years between our own renewals.

Which lounges?

AmEx Centurion lounges (which are very nice and limited to Platinum AmEx or Centurion holders) and the little lounge at CZM and all Priority Pass lounges (directory at their website). There are lots of participating Priority Pass lounges, but very few at the US airports where I travel. There is one in CZM and one in CUN.

I assume the major airlines?

No. Delta lounges if you're traveling on Delta, and various international airlines if you're traveling on those airlines. However, it no longer includes American or United lounges.

Any restrictions?

For Priority Pass, no, and you can bring a guest (maybe 2 - I haven't checked in a while). Delta only if you're on a Delta flight.

In addition to Schwab, there are a few other ways to get discounted PlAmEx. One is Ameriprise Financial, through which you can get the first year with no fee to see if you think the fee the following year would be worth it to you.

 

[flyboy08]

Well explained....but you left out one thing....the amount of deposits you have to have with Schwab that would qualify one for all these benefit..

I use the airline reimbursement for luggage fees....Jet Blue this year. You can change the carrier once each year.

 

[gt2003]

Will Mega give change in pesos if requested or change out American $ for Peso's at their exchange rate that they list by the registers? Might be a simpler option. We are going to use peso's this trip and see how it works out. Have always used American money in the past.

 

[WetInPortland]

Will Mega give change in pesos if requested or change out American $ for Peso's at their exchange rate that they list by the registers? Might be a simpler option. We are going to use peso's this trip and see how it works out. Have always used American money in the past.

I believe Mega always gives change in pesos, however there is a limit. I'm not certain exactly how much, but trying to buy a pack of gum with a $20 USD bill probably is going to be declined. That's going to make it difficult to accumulate any reasonable amount of pesos, so the ATMs are probably a better bet. If you look upthread, I believe it's Santender that has the lowest fees and gives a reasonable number of smaller notes.

 

[ChuckP]

Highly recommend using pesos - if the exchange rate is 18:1, some places will only do 16:1. Buy pesos at any money exchange place, you need your passport or withdraw them from a safe ATM.

Most places will give change in pesos for dollars if you ask but you'll be getting some off the wall rate probably due to the change and change over - I know the calculator comes out and an effort is made. I wouldn't count on Mega or most other places to take $100 bill and give you exchange rate in pesos though - I've done it before but wouldn't count on it.

Here's why on the ATM though - we were there last week. At Thrifty, the daily rate on the wall was 20.xxx, I bought pesos at the normal exchange place and it was 17.50, seen it posted elsewhere anywhere from 16-18. I just thought the Thrifty thing was wrong even though I remember seeing the date on it - I just checked online rate and yep, it was over 20 last week.......

 

[WetInPortland]

At Thrifty, the daily rate on the wall was 20.xxx, I bought pesos at the normal exchange place and it was 17.50...

I think what's happening here is that is what the car rental companies are selling you pesos at an inflated rate, which is not a good deal. For example, let's say you have a rental car bill that is exactly $200 USD. They will write the contract up and charge your credit card $4,000 pesos (200 * 20). Now when that charge is put through on your credit card, the bank isn't going to give you that much, and at $17.50:1, what you will see on your credit card is $228.57 USD (4,000 / 17.5).

If you can, use the car rental company's Mexican site so the quote is in pesos to begin with.

 

[Christi]

Just as a reminder - if the prices are quoted in pesos, pay in pesos - if quoted in dollars then pay in dollars. Otherwise, any merchant can charge you whatever exchange rate they want to - right or wrong, that is the way it is.

Some companies like to "Play" the exchange rate game. For me, I'm not in the business of making money on your money - I just don't want to lose. For this reason, I don't state an exchange rate and use whatever the exchange rate of the day at MY bank is because that is where I will be changing or depositing the money. So it varies from day to day.