Some credit card companies boast they’re great for travel because they have zero or low overseas fees.
But, are they as good as they claim? Here’s what the fine print says.
Using a credit card overseas will often give you a better exchange rate than a bank.
Capital One offers no transaction fee and eliminates the additional 1 percent fee imposed by Visa or MasterCard.
But don’t underpay your balance or they’ll delete the frequent flier miles you’ve earned that month.
The Discover card has no fee, but it isn’t widely accepted outside North America.
Washington Mutual and American Express have 1 and 2 percent international transaction fees, with Chase and Citibank offering 3 percent.
If you don’t want to shop around for a new card, call your bank to check what fees they charge, so you’ll know what sort of charges you’re in for.
And while you’re at it, let them know your international travel plans so their fraud department doesn’t cut off funds mid-journey.
Want more information about money abroad? Find out if Pre-Paid Travel Debit Cards are a good idea.
