Another widespread misconception is that the conversion rate prevailing on the day of making a credit card purchase is the same rate which is applied to the transactions when they are processed. Since the credit card payments are posted to the card networks after 1 to 3 days, the currency conversion rate on the day of the transaction is not taken into consideration. Once the payment is posted and the card networks process the transaction, they consider the conversion rate of the preceding day to prepare the final bill.