Beware!

johnsr

Bronze
Apr 13, 2002
673
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Be careful when signing credit card slips giving RD$ only and not $US dollars. Upon returning home from our fifth stay at a Coral Resort (Marien) I checked, on line, my Citi bank credit card statement. I found a charge to Coral Marien for $572.83 US. Coral Resorts have an All Inclusive fee of $35.00 US per person, per day, that would be $490.00 US! After repeated calls and numerous emails I was informed that the hotel uses an exchange rate of $RD 26.00 = $ 1.00 US. When we checked in on 2/22/03 on the check in counter was a clear sign posted giving the exchange rate of 22 = 1.00 US. What they are doing is in my opinion a deceptive business practice and should be illegal. However if I had checked the slip and did my own exchange calculation this could have been avoided. ?Ounce Burnt Twice Shy?. I should also mention that in five wonderful trips to my ?second home? this is the only time that I have had a problem using a credit card.
John
 

MommC

On Vacation!
Mar 2, 2002
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dr1.com
If you signed a credit card slip for pesos at Coral Marien

It should have been charged to your card in pesos NOT in US$$$.
The credit card company would then post it to your account at THIER exchange rate on the day that the charge was posted by central processing.
Therefore, if you still have your copy of the charge slip (you do keep them don't you?) contact the issuer of the credit card and have them make the correction.
I always keep my slips and check my statements. On occasion I have bought in pesos and been charged in dollars by mistake (usually a bank employee input error) and it has always been easy to correct (like I'd be willing to pay $180 US for a 180 peso item??!!)
 

johnsr

Bronze
Apr 13, 2002
673
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BEWARE

MommC, Yes I do keep the slips, and yes it was charged in $RD the problem is RDS$12789 pecos doen't come out to $490.00 US unless you use an inflated exchange rate. The credit card exchanges at a rate of RD$22 = $1.00 US They have no idea that the charge is only supposed to be $490.00, only that the charge was RD$12789 pecos.
John:cry:
 

Mcinbrass

Bronze
Jan 2, 2002
835
66
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Youre gripe is with...

...the credit card company, not the resort. This is a typical occurance anytime there is a currency exchange, everyone gets a little piece of the action!
 

PJT

Silver
Jan 8, 2002
3,562
298
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A simple way to overcome this situation is when you sign the credit card slip is to make a large notation of "RD$" if you are paying in pesos next to the amount billed. Some vendors may frown on this practice. However, it is you paying the bill and will save you some later grief. Same goes if you are paying in dollars, make the notation "US$". When there is an exchange rate involved let the credit card company post at their rate, which is usually in your favor. Regards, PJT
 

Robert

Stay Frosty!
Jan 2, 1999
20,574
341
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Mcinbrass - Spot on! Your card company is taking you to the cleaners not the resort. If the peso amount on your credit card slip is correct, then the resort isn't at fault.
 

m65swede

New member
Mar 18, 2002
312
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Credit card companies apparently use different exchange rates when converting currency values. As a mini-experiment, I charged items on the same date to 3 different credit cards during our DR trip last April.

Results were that exchange rates ranged from RD$17.30 to $17.53 per USD. The card that had the best rates consistently outperformed the others over the duration of the trip.

Guess which will be my "main" credit card on my next trip? :)

Swede
 

johnsr

Bronze
Apr 13, 2002
673
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Mcinbrass and Robert, How can you say the credit card is at fault when it was the resort that charged RD$12789 pecos for a charge that should have been RD$ 1980 pecos using the exchange rate of the day 22 = 1. The 26 = 1.00 rate used by the resort was deffinetly inflated to the benefit of the resort!
John
 

ricktoronto

Grande Pollo en Boca Chica
Jan 9, 2002
4,837
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Not the Credit Card's Fault

I stay at a hotel which charges US$ but if you use a credit card you pay in pesos, as is the law. I ask them what peso rate they are using and in this case they always use the going rate that day, in the example here, 22:1.

If they said 26, I sould pay US$ cash.

You sign a slip for RD$12789 when it should be 15% lower then the credit card company will say, hey, you signed a slip for RD$12789, and we converted to US and that's what the US cost you. (because that's what it cost us).