Does anybody else do this?

Hello,

I am closing this topic due to lack of activity. Thank you for your time and participating. Please feel free to open a new thread on this topic in the future if you wish.

Thank you,
Ella
Good Sam Care Team

keefr wrote:
It can be annoying when they post to a Canadian card in US dollars. You get nailed the bank's exchange on the initial posting and again on the credit back. I had a recent $10 charge - credit that cost me a couple of bucks. No wonder I hate banks :M

If you're talking about the bank's foreign currency conversion fees, I was under the impression that wasn't applied to charges like the $1.00 card verification charge, because they never get posted to your credit card balance, they only go to pending/authorized, and are removed before reaching posted. I could be wrong about that. Any Canadian bankers?
The best way to avoid the conversion fees is use a C$ credit card that either doesn't charge the conversion fee (almost non-existent), or one that pays you cash back at a higher rate than 2.5% which I believe is the big 5 bank's standard conversion fee. Rogers/Fido M/C both return 3% cash back on foreign currency transactions, so you actually gain .5% by using either of them. You have to manually call them each year before December and ask that your accumulated cash back be applied to your (January?) credit card balance. Minor pita, but worth it, I'd say.

It can be annoying when they post to a Canadian card in US dollars. You get nailed the bank's exchange on the initial posting and again on the credit back. I had a recent $10 charge - credit that cost me a couple of bucks. No wonder I hate banks :M

Almost all of our credit cards have ways to examine the pseudo-charges, like these $1.00 posted by some gas stations and truck stops. We can see them in our online banking applications when we check pending transactions versus posted, when reconciling expenses.

It's somewhat antiquated, but harmless. The $1.00 is only an authorization and drops off your account when no sale is processed. You only see it when using a debit card because it affects your available bank balance, much like when you use your debit card at a self service gas pump. Consumers don't have visibility to authorization activity on credit cards.

There are newer, better tools such as account updater tools from the card brands that let you scrub a recurring billing file prior to the billing run. When a bank issues you a new card for renewal or a new number for lost-stolen, the account updater file is updated.

If your account was replaced since last year, the $1.00 auth only tells GS that your previous account is no good and that they need to contact you for the new number. The account updater actually gives them the new number since you authorized recurring billing to that account.

Like GS in general, a little behind the times....

I've never seen it.

Normal industry standard to 'verify' an active account PRIOR to making full charges.

The $1 charge is quickly reversed.

Moi aussi. Pas seulement Good Sam.

Yep,I have seen it on my cards from several retailers and gas stations,Sams Club for one.