I'm not bringing cash, I'm only using my card: How to not fall victim to dynamic currency conversion

I am a fan of "words mean things" so I know you are wondering girl what is "dynamic currency conversion" and why does it matter to me? Dynamic currency conversion is a credit card feature that allows you to make a point-of-sale (POS) credit card purchase in a foreign country using the currency of your home country. Using USD in a country where the currency is not USD. (I am using USD, as that is the currency of my home country.)

Now that DCC has been defined, why does this matter and how does it impact me. DCC makes it easier to understand the price you are paying. You get to bypass the currency conversion, the system shows you what you will be charged. THIS IS A SCAM, do not pick the currency of your home country. The charge comes with a poor exchange rate and other fees, which will ultimately make your price more.

In this global economy everything is about money, therefore the convenience you receive by by not having to do the conversion, only lines the pockets of the companies who installed the card reader. The payment processing companies tend to share the profits they make from dynamic currency conversion with the merchant, so your ignorance is there abundance.

However, don't just take my words for it. below I will list the pros and cons of DCC.

Pros

• The exchange rate is locked in. DCC locks in the exchange rate at the POS. When you make a transaction and accept the exchange rate used is the current market rate (plus a markup for the vendor and/or service provider).

• You have transparency in real time. The currency conversion happens in front of your eyes, and you know the exchange rate you are paying immediately. Credit card companies are not required to disclose the exchange rate.

• It makes price comparison easier. You know your currency better than you know another countries.

Cons

• DCC vendors are required to disclose the exchange rate, they are not required to disclose the markup above the current market exchange rate.

• Transaction fees will still apply (if using a credit card)

• If the DCC conversion rate is higher than that available through your credit card, your foreign transaction fee will also be higher.

"You should always opt to pay in local currency, and not accept the card machine or ATM’s prompt to convert it for you."