I was reading through a few threads yesterday about people who are using US cards like Amex or Chase Sapphire cards for their purchases in Japan.
I realize these cards have advantageous point rates, but it seems to me one will ultimately take a loss by exchanging currencies even if the card has no additional foreign transaction fees (either at the time of purchase or when transferring JPY to USD to pay the card bill).
Also, it seems that it would create a tax complication as each purchase would be considered a remittance.
I ask because it seems there are a number of people advocating or currently employing this kind of usage.
I’m curious if there’s something I’m overlooking or misunderstanding. Please share your thoughts and opinions! For anyone doing this, if you can breakdown the numbers on it, that would be awesome!
by coastal8