@Anonymous wrote:
@Anonymous wrote:
@Watchmann wrote:
Not sure on the individual cards, but if the onboard ship charges bill in USD there will be no fee on those charges.
This may no longer be true. I recently read (can't recall where, unfortunately) that Visa & MasterCard now charge FX fees if the merchant's bank is non-US, even if the transaction in question was USD-denominated. Take this for what it's worth, since I can't provide a source right now.
That's why it is called a foreign transaction fee and not a foreign exchange fee. The fee is applied to all transactions originating outside the US without regard to the currency. Still, each issuer sets their own fee. My understanding is that Cap1 still does not charge an FT fee, but they are not on my list.
The shipboard charges are transmitted shoreside to the US and cleared here so those charges are not "foreign".
Message Edited by creditwherecreditisdue on 10-29-2009 11:33 PM
Macy's is 1%. And, although not on OP's list, so is USAA.
In some countries in Asia, there is no foreign transaction fee for Discover.
This fee, actually, is imposed by Visa / MC / AmEx on your bank. Currently the fee the card associations are charging the card issuers is about 1%, but then some card issuers tack on another 1 or 2%. Currently the card associations do not charge if the transaction is denominated in US$ even though conducted abroad, but the banks still tack on the 1% or more.
Those banks that do not charge a foreign transaction fee are either eating the fee charged to them by the card association(s) or have negotiated with them not to be charged.
