While on a tour of the Arab market in Jerusalem, Jonathan Rosen pays for lunch using his MasterCard. But instead of a charge for about $20, he gets a bill for $2,500. Why won’t his credit card issuer reverse the charges?
Processing a credit card charge for overseas purchases used to be pretty simple. You swiped your card while on vacation, your bank changed the money from pesos or euros into greenbacks, and the amount you’d spent appeared on your bill. Maybe you paid a small conversion fee, but you also got a competitive exchange rate.
Remember Prime Travel protection, the Colorado travel insurance company that shut down amid allegations it sold unlicensed policies? Turns out it’s not dead yet.
