Beware: Credit Card Foreign Transaction Fees

Posted: August 15, 2009 in Uncategorized
Tags: , ,

It’s been a few years since I have traveled abroad, but one thing I know to do is to call my credit card company to let them know of my travel plans ahead of time, lest I have a problem using my card overseas because the card company flags the transaction as possible fraud. I called last week and was surprised when the customer service representative told me there would be a 3% foreign transaction fee on any purchases I made with my card while traveling overseas. I asked if this was new, and he said it has been in place for the last two years – the last time I was abroad was more than two years ago, so it’s new to me. I calculated it out and 3% for a four-night hotel stay is about $20-25…not that much, but that’s money I can be spending on something else. I did look into a few other credit card options and found one that does not charge any foreign transaction fees – so now I am just waiting for my new card to arrive in the mail, hopefully next week.

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Comments
  1. Terry says:

    Very interesting pieces of information! I hadn’t thought about the credit cards charging foreign fees. But then again, I haven’t been out of the country in several years either! It’s new to me too.
    I will definitely be checking into this!
    Thanks for the information 🙂
    Hope your packing and planning is going along well. I’m very excited for you and you leave in a few weeks! Yea!

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