Foreign Credit Card Fees

Gary North - May 04, 2019

This is from WalletHub.

• Not-So-Foreign Fees: 8 in 10 people don’t realize credit card companies can charge foreign transaction fees when a cardholder in the U.S. makes purchases from merchants based abroad.

• Unaware of Foreign Fees: 50% of people don’t know if their credit card has a foreign transaction fee. This is most common among people age 45+.

• Unfair Fees: 81% of people say foreign transaction fees are unfair.

• Fed Up Foreign Travelers: 6 in 10 people say they'll never get a credit card with a foreign fee again.

• Best Credit Cards for International Travelers: Bank of America Premium Rewards Credit Card, Bank of America Travel Rewards and Barclaycard Arrival Plus World Elite Mastercard.

• Best Credit Card Companies for No Foreign Fees: Capital One, Discover, USAA and Barclays are the only major issuers that exclusively offer no foreign transaction fee credit cards. Getting such a card, along with a no foreign fee debit card, enables international travelers to minimize the cost of currency conversion.

For a detailed report, go here: https://www.garynorth.com/snip/1377.htm