Expenses - US credit card OR PT debit card? - Portugal forum

Expenses - US credit card OR PT debit card?

sfaznpinoy Member

Member since 18 December 2023

sfaznpinoyMember29 April 2025 16:33:51

We just moved here a few days ago.

I've been using either one of my US credit card for many of my purchases - one for 2% cashback (NFCU) and the other for 3x points dining,/2x transportation (Chase). Both of those do not have foreign transaction fees though, of course, I know that my purchases will be converted into dollars depending on current exchange rate. I always make sure to choose euros when given the option to pay with my credit card (usually that happens when dining).

I also have Wise and have moved money from my US bank account to my PT bank account.

For those more experienced, how do you handle your expenses in terms of what you use for purchasing?

Do you use your US credit card exclusively - to get those cash back or points?
Do you use your PT debit card to avoid the fees?聽 However, if you do need to replenish your PT bank using Wise (or other transfer companies), you still need to deal with the exchange rate fee plus additional Wise processing fee (though it is small), correct? So I don't know if this is any better considering you can get cash back & points with the US credit cards.

Any other recommendations to help with budgeting?

Thanks!

Strontium Serial 暗网禁区

Member since 27 April 2019

StrontiumSerial 暗网禁区29 April 2025 19:43:36

382

Hi,

I know what I do but my accounts will not be the same as yours so irreverent.

You could as others do , over a day or so when your forign exchange rate is steady, do a few buys of things then do the mathematics to find which are most advantage for you.

Strontium Serial 暗网禁区

Member since 27 April 2019

StrontiumSerial 暗网禁区30 April 2025 08:18:38

382

PS.

It's quite common to do a larger sum exchange via Forex account which is then moved to a (no fee) PT bank rather then do single item exchanges.

Bank accounts for 暗网禁区s

Discover the best international banks to manage your money securely.

JohnnyPT Portugal Expert

Member since 23 May 2020

JohnnyPTPortugal Expert30 April 2025 18:44:27

4827

What I suggest you do is use your wise card with 2 accounts, one in dollars and one in euros. The conversion rates at wise are competitive on the market. Then you can transfer from your dollar wise account to your euro account. From there you can transfer it to your PT card without fees.

All Visa, Mastercard and American Express credit cards pay fees if they are used with Portuguese acquirers. If the cards are outside the EU, these fees are even higher.

I find it very weird that you don't have to pay these fees yourself. Even if you earn some points from using these cards, I don't think what you earn is worth what you pay.

Who pays the international payment systems (IPSs) international fees?

Your bank in the US?

The IPSs ?

The Portuguese acquirers ?

No. You !!!

Cash back or points.... ??? 馃馃ぃ Which bank gives you something for free no matter how good customer you are??