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Dynamic Currency Conversion
Explanation:
This is the conversion that happens when an overseas merchant converts your credit card transaction from the local currency into U.S. dollars.
Our Thoughts:
Dynamic Currency Conversion (DCC) should be avoided while traveling overseas. When a merchant offers to convert your transaction from the local currency into U.S. dollars, they will often use an exchange rate much higher than the actual going rate, as high as 7 percent, and pocket the difference as a fee. It may sound tempting to see your transaction in a currency that you are familiar with, but you should refuse this offer in the interest of saving money.