topic Re: Cards with no foreign transaction fees in Credit Cards

Cards with no foreign transaction fees

Anonymous — Sat, 01 Aug 2009 13:41:24 GMT

For our upcoming trip to Italy, we're looking for a Visa or MC with no foreign transaction fees. I know of 3 such cards: Schwab, Cap One & HSBC's Premier World MC. Are there others?

Are any of these 3 cards markedly better (or worse) than the others?

My score is in the 790 - 800 neighborhood.

Thanks for your advice.

Re: Cards with no foreign transaction fees

Anonymous — Sat, 01 Aug 2009 13:44:01 GMT

Hmmm, I wonder if a military oriented card (like NFCU or PenFed) would have foreign trans fees? Afterall, military/DoD get moved all over the world, including Europe....hopefully these CU's provide no trans fee cards.

Anyone know?

Re: Cards with no foreign transaction fees

Anonymous — Sat, 01 Aug 2009 14:28:32 GMT

According to their website, Addison Avenue FCU Visa cards do not have any surcharges for international transactions. Nice perk.

Re: Cards with no foreign transaction fees

Anonymous — Sat, 01 Aug 2009 14:42:53 GMT

I have a card with a local CU that does not have fees.

Re: Cards with no foreign transaction fees

haulingthescoreup — Sat, 01 Aug 2009 15:25:02 GMT

Don't know about PenFed and Navy, but USAA started charging foreign transaction fees last year.

Re: Cards with no foreign transaction fees

Anonymous — Sat, 01 Aug 2009 15:26:31 GMT

@haulingthescoreup wrote:
Don't know about PenFed and Navy, but USAA started charging foreign transaction fees last year.

Really? I would think that if anyone honored the military with no fees, it would be USAA. I guess their FOM has broadened enough that they are showing some signs?

Re: Cards with no foreign transaction fees

haulingthescoreup — Sat, 01 Aug 2009 15:30:26 GMT

No clue as to the reasoning, but they did it just about the time DD#2 interned in Ireland for the summer.

Re: Cards with no foreign transaction fees

Anonymous — Sat, 01 Aug 2009 15:56:29 GMT

@Anonymous wrote:
Hmmm, I wonder if a military oriented card (like NFCU or PenFed) would have foreign trans fees? Afterall, military/DoD get moved all over the world, including Europe....hopefully these CU's provide no trans fee cards.

Visa & MasterCard bill their member financial institutions for the costs of currency conversions. Each financial institution then chooses whether or not to pass these charges on to its cardholders. Unfortunately, most do.

Until BOA took it over a few years ago, MBNA was one of the few large issuers that did not pass FX fees on to its customers. That's why we always took MBNA cards when we traveled overseas & that's why we were sorry to see MBNA go.

Re: Cards with no foreign transaction fees

Anonymous — Sat, 01 Aug 2009 15:57:36 GMT

@Scout1965 wrote:
According to their website, Addison Avenue FCU Visa cards do not have any surcharges for international transactions. Nice perk.

Thanks for the tip. I'll see if I'm eligible for membership.

Re: Cards with no foreign transaction fees

Anonymous — Sat, 01 Aug 2009 15:59:30 GMT

@Anonymous wrote:
@Scout1965 wrote:
According to their website, Addison Avenue FCU Visa cards do not have any surcharges for international transactions. Nice perk.
Thanks for the tip. I'll see if I'm eligible for membership.

You only have to join FINANCIAL FITNESS ASSOCIATION for $5 to be eligible.

Re: Cards with no foreign transaction fees

Anonymous — Sat, 01 Aug 2009 17:11:57 GMT

@Anonymous wrote:

You only have to join FINANCIAL FITNESS ASSOCIATION for $5 to be eligible.

Thanks, John!