Question
I just read that Capital One was going to 3%. So what's left?
Just the MBNA AAA card?
Can people post what cards they know of still have a 1% charge on FEX transactions (it appears that they all are charging their fee on all foreign transactions now, in fact, not just FEX).
Thanks.
Answer
I don't know of any specific cards, but I believe that many credit union credit cards still offer lower rates on Foreign Exchange than traditional banks.
Answer
I don't know of any specific cards, but I believe that many credit union credit cards still offer lower rates on Foreign Exchange than traditional banks.
I think that is the most logical answer under the present circumstances.
Answer
Where did you read that Capital One is going to 3% ?
Article and chart below doesnt show that.
USA Today article (http://www.usatoday.com/travel/news/2005-04-21-card-fees_x.htm)
Based on the chart, MBNA is now the worst of the bunch.
Per their example :
"For example, an unwitting vacationer renting a car from Hertz in Europe this summer and paying in dollars with an MBNA-issued Visa card would wind up paying 5.5% on the rental: 2.5% to Hertz and 3% to MBNA, which charges the bank's own 2% fee plus Visa's 1% foreign transaction fee."
Every other CC issuer on that list is better in the above situation.
Answer
Last week Capital One said it had no forex fee. When did it go to 1%, let alone 3%?
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I read that USA Today article as well as the WSJ article with the conversion rates for various banks and I don't know which to believe the article or the terms and conditions sent to me by Chase that clearly state that my mastercard will have a 3% foreign currency fee whether the transaction occurs in a foreign currency or in US dollars. Therefore, if I believe the article then my terms and condition changes I recently received are wrong and if I believe the change in terms and conditions then the article is clearly wrong. I am more inclined to believe the terms and conditions I received and consequently will be using Amex for foreign purchases since they only charge 2% and that is only if it is in a foreign currency.
JC
Answer
According to the USA Today article, cards issued by Providian and HSBC (dba Household Bank) also charge a 0% foreign exchange fee, possibly going up to 1% in October when Visa/MC start billing banks 1% for these transactions.
Both banks have fee-free reward cards; Household issues the GM MasterCard that gives you rebates toward the purchase of a GM vehicle, while Providian offers cash-back and "Real Rewards" Visa cards.
Answer
I'm so confused...
I thought Capital One does NOT charge any foreign exchange fee. Especially since Visa/MC are getting rid of the 1% charge to consumers.
I just applied for a new Capital One Go Cash Visa, and was hoping that would be the new card to use abroad. :confused:
Answer
Nordstrom Visa is still 1%.
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When my husband called to activate his Capital One card last night, the rep said the foreign exchange fee was 1% in Europe but 2% in Canada. Has anyone else received this answer?
Answer
CAPITAL ONE currently charges 1% (it is a pass through of the VISA and MasterCard charge). Those charges are being canceled by VISA and MasterCard this year. After that time, CAPITAL ONE will charge 0% surcharge on non-dollar transactions.
I have not seen, heard, or read anything to contradict this.