For those who travel often and shop in foreign currency using credit card, this is an important information.
If you purchase an item and decided to return it later for whatever reason, do note that you need to inform the merchant to cancel your credit card transaction instead of performing refund into your credit card account.
Last month, I purchased a pair of heels from Macy's and upon returning to the hotel, discovered that there were defects on it. I returned the item on the next day. Today I received my credit card bill and noticed that that the purchase and refund currency conversion actually has a 3.5% difference. In layman words, I am paying 3.5% for nothing with the hassle of buying and returning a defective item. How sad!
* Of course the currency can be the other way round and I could be on the receiving end of the gain. But the fact is that I am now 3.5% poorer :)
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