Credit Card Foreign Transaction Fee

[fairybasslet]

Well, it totally bites. Especially since we bailed the blood suckers out.

 

[parzdiver]

Capital One does NOT charge a foreign transaction fee. I used the card in Cancun in January with no charges and GREAT rates on the conversions from pesos to US dollars.

 

[runawaylobster]

Yes I recently took a surprise hit on this. So...I just shredded 2 cards, got some new and better ones and listened to the new law on credit card rule changes that is currently making it's way through government.........

LL

 

[DeputyDan]

Well I applied for a Crap-i-tal One card today.

The Citi Bank card will hit the shred box as soon as the new one arrives!!!

 

[siikik]

I say it again... it all boils down to greed. US laws generally prevent these companies from charging excessive fees... but as many of you have found out... those laws stop at the border.

Those of you who are switching need to remember to call your old card issuer and let them know to close the account and tell them exactly why. I would think that at a minimum, the drones could refund those fees to keep your business. Either way, they lose money which makes people take notice.



Ken

 

[fairybasslet]

I would advise against closing the accounts because it will affect your credit score. Just don't use the card. And make sure you cash in all of your reward points before you lose them. And make sure you get a card with rewards.

 

[vondo]

I say it again... it all boils down to greed. US laws generally prevent these companies from charging excessive fees... but as many of you have found out... those laws stop at the border.

Sorry, it's all my fault. I'm one of the irresponsible ones who pays off his bill every month. This means the companies don't get the profit off of me that they deserve, so they have to screw with the rest of your fees.

Sorry.

 

[gene02]

Funny this topic comes up I was in the bank this morning and a elderly couple was in there for this same problem.

 

[John_B]

I simply do not understand why, in this day and age of electronic banking and most of our money being bits and bytes, why they even CHARGE for foreign transactions. Well other than simply it being a money maker.

Umm, because $700 Billion of your tax dollars (and mine) wasn't enough?

 

[herman]

I would advise against closing the accounts because it will affect your credit score. Just don't use the card. And make sure you cash in all of your reward points before you lose them. And make sure you get a card with rewards.

Unless your credit is borderline it's not that big of a hit and it will clear fairly soon. What is improtant, is for as many people as possible to cancel their cards and open new accounts with companies that do not implement junk fees on their customers. AND BOTH COMPANIES KNOW THE REASONS FOR THE CANCELED ACCOUNT AND THE NEWLY OPENED ONE.