A Traveling Tip for Credit Card Users
If you're traveling abroad this spring or summer, you should think about the credit card you plan to use. Almost all charge fees for overseas credit card purchases, but these international transaction fees vary widely among credit-card issuers, according to a recent survey by IndexCreditCards.com http://www.indexcreditcards.com, an online clearinghouse of credit-card data.
The Web site says Visa and MasterCard charge a 1% processing fee on international transactions and most card-issuing banks add their own fees on top of that.
But some don't. IndexCreditCards says Capital One imposes no fee -- and also eats up the 1% Visa or MasterCard fee. On the other hand, Bank of America, Chase, Citibank, MBNA, U.S. Bank and Wells Fargo impose a 3% international transaction fee while American Express charges 2%.
So, before you begin your journey, you may want to check your credit-card terms and plan accordingly (including the fact that Discover Card is rarely accepted overseas).
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