To enter a coupon code in your post please enter the following info:
Coupon Code:
Coupon Offer:
Merchant:
Expires (optional):
Restrictions (optional):
saving...
Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
When I found myself needing to buy something overseas unexpectedly, I had to call the issuers and ask about the fees. Oddly enough, the only card without a % fee above the exchange rate was my visa debit card from small "Bank A". The visa debit card from "Bank B" *cough*chase*cough* said that 'Visa' imposed a 1% surcharge. uh huh. So I went with Bank A. Well when I looked at the statement from visa debit card at Bank A, no such 'visa' surcharge. I can only believe it was a Chase surcharge, or they have a crappier card agreement with visa.
kronus said:When I found myself needing to buy something overseas unexpectedly, I had to call the issuers and ask about the fees. Oddly enough, the only card without a % fee above the exchange rate was my visa debit card from small "Bank A". The visa debit card from "Bank B" *cough*chase*cough* said that 'Visa' imposed a 1% surcharge. uh huh. So I went with Bank A. Well when I looked at the statement from visa debit card at Bank A, no such 'visa' surcharge. I can only believe it was a Chase surcharge, or they have a crappier card agreement with visa.
We would definitely want to see a longer list than just the plain "Bank A", ain't it?
kronus said:When I found myself needing to buy something overseas unexpectedly, I had to call the issuers and ask about the fees. Oddly enough, the only card without a % fee above the exchange rate was my visa debit card from small "Bank A". The visa debit card from "Bank B" *cough*chase*cough* said that 'Visa' imposed a 1% surcharge. uh huh. So I went with Bank A. Well when I looked at the statement from visa debit card at Bank A, no such 'visa' surcharge. I can only believe it was a Chase surcharge, or they have a crappier card agreement with visa. Visa does charge a 1% fee. This may or may not be a line-item on your statement - it may be all bundled together with the exchange rate and show up as one total on your statement. So I wouldn't say that just because you don't see it on your statement, you're not charged the 1%. Look at the full terms of the card - I believe it has to be disclosed there. Many banks/card issuers only charge the 1% from Visa/MC, and some (like the OP's card apparently) add 1-3% on top of the original 1% fee. Very few banks actually eat the 1% fee from Visa so you're not charged anything above the exchange rate. The most notable of these is Capital One.
Estragon said:highmktgoods said:richfish13 said:Capital One
Cap One is overall a very bad credit card company for many people. But their strong point is for exactly this reason... No fees overseas.
sadly - cap one now charges 2.5% on foreign transactions.
is this a recent change by Cap1? This is the first one I heard about that. They used to be the only credit card company that does not charge any foreign transaction fee. If this is true, I will not bother with an application then.
Estragon said:highmktgoods said:richfish13 said:Capital One
Cap One is overall a very bad credit card company for many people. But their strong point is for exactly this reason... No fees overseas.
sadly - cap one now charges 2.5% on foreign transactions. most cus - as far as i know - charge only the 1% charged by Visa/MC
Where did you get this information from? I just returned from a two week overseas trip. All transactions on my Capital One had 0% foreign transactions fees (as always). In fact the conversion rates were the virtual exchange rates for the day.
Good thing, because this is the only reason I keep this card for.
The title of this thread reminds me of a funny saying I saw a few days ago: "90% of the politicians give the rest of them a bad reputation". That is, the vast majority of credit cards assess the forex fees.
btuttle said:Estragon said:highmktgoods said:richfish13 said:Capital One
Cap One is overall a very bad credit card company for many people. But their strong point is for exactly this reason... No fees overseas.
sadly - cap one now charges 2.5% on foreign transactions. most cus - as far as i know - charge only the 1% charged by Visa/MC
Where did you get this information from? I just returned from a two week overseas trip. All transactions on my Capital One had 0% foreign transactions fees (as always). In fact the conversion rates were the virtual exchange rates for the day.
Good thing, because this is the only reason I keep this card for.
I believe they just changed the policy last week. I called on my cap one biz card a few days ago and that's what the csr told me. I also recently used my cap one card abroad and wasn't charged a fee - that was the main reason i keep the card - so - it's a bummer
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
