With dynamic currency conversion, merchants outside the U.S. can let you pay with your credit card in U.S. dollars (USD) instead of the local currency. If you choose to pay in USD, the merchant takes care of the currency conversion.
Keep in mind: When you make purchases with your credit card outside the U.S., it may be cheaper to pay in local currency.
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Common fees and charges associated with credit card accounts include finance charges, late fees, annual fees, balance transfer fees, cash advance fees, and returned payment fees. Check your cardmember agreement for details on what fees and charges may be associated with your account.
You should also be aware that balance transfers, checks, cash advances, and overdraft advances don't have an interest free period.
A fixed rate is an annual percentage rate (APR) that doesn't fluctuate with a financial index. This is in contrast to a variable rate, which does fluctuate with an index.
When you take advantage of Flexible Financing Offers, like those available with My Chase Loan® and My Chase Plan®, you can pay those balances over time based on their offer terms and still avoid additional interest charges on new purchases.
Under normal circ*mstances, when a payment is made, it posts to the customer's account immediately and results in a corresponding increase in the customer's available credit. Float pay applies the customer's payment to their account, but doesn't release a corresponding amount of available credit. Instead, the release of credit is held for seven days, allowing sufficient time to ensure the customer has sufficient funds to cover the payment.
Foreign transaction fees are assessed by your credit card bank for each transaction made in currency other than U.S. dollars. This can include internet sites based outside of the U.S.
Not all Chase card products have foreign transaction fees. If you have one, it's outlined in your cardmember agreement.
Tips for using your credit card while traveling abroad
If a merchant operating outside the U.S. offers Dynamic Currency Conversion when you use your credit card at the point of sale, it still may be cheaper to pay with your credit card in local currency and incur the foreign transaction fee, if applicable. For example, let's say you want to purchase a sweater from a British retailer using your credit card; at checkout the retailer gives you the option to process the credit card payment in local currency (£85) or U.S. Dollars ($110). If you choose U.S. Dollars, the merchant has already handled the currency conversion for you. However, if you choose local currency, Visa/Mastercard handle the currency conversion ($105) and your credit card bank assesses a foreign transaction fee (3%, totaling $108.15), if applicable.
Note: all figures and conversions are for illustrative purposes only
In the banking industry, fraud is typically defined as illegal activity or usage of an account or information which can potentially affect another individual's credit status. Go toFraud Protection to learn the steps we take to keep your information safe and what you can do to be even more secure.
We help safeguard your credit card purchases using sophisticated fraud monitoring. We monitor for fraud 24/7 and can text, email or call you if there are unusual purchases on your credit card. To assist us, please update your phone number in case we need to contact you quickly.
Interest charges refer to one type of finance charges, which accrue on an account as a result of revolving a balance that is subject to an interest rate. In essence, interest charges is the amount assessed for allowing you to pay a portion of the balance, rather than pay the account in full immediately.
Different interest rates may be assessed to your account depending on the type of transactions made. Some interest charges may begin to accumulate on the day of a transaction, if that type of transactiondoesn't have an interest free period. For example, cash advancesdon't have an interest free period and the rate assessed on a cash advance is often higher than the rate assessed for purchase transactions. Check your cardmember agreement for details specific to your account.
How is interest charged on my Chase credit card?
How is interest charged on my Chase credit card? videoOpens Overlay
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The interest free period, also known as the grace period, is the period in which you can pay a balance in full without accruing interest charges on new purchases. Your due date will be a minimum of 21 days after the close of each billing cycle. We won't charge you interest on new purchases if you pay your entire balance or Interest Saving Balance by the due date each month.
Interest free periods for Business accounts may vary. Balance Transfers, Checks, Cash Advances, and Overdraft Advances don't have an interest free period.
Some credit card products may offer a promotional or introductory rate with an extended interest free period for a limited amount of time.
An interest rate is used to compute interest charges on credit accounts. Please refer to your annual percentage rates indicated in your cardmember agreement for the specific rates for purchases (Purchase APR) and other transactions on your credit card account.
When you take advantage of Flexible Financing Offers, wewon't charge you interest on new purchases if you pay your entire Interest Saving Balance by the due date each month.
If your Interest Saving Balance for any billing cycle is less than your minimum payment due, your Interest Saving Balance amount will reflect your minimum payment due to avoid a late fee.
Some credit card products may offer a promotional or introductory rate with an extended interest free period for a limited amount of time. Check your cardmember agreement for details specific to your account.
