Sunday, February 21, 2010 - 7:52 AM

Credit Card Currency Conversion Fees Will Continue

The new credit card law should limit many fees but it doesn't cover foreign transaction or currency conversion fee. These fees can be up to 3% of purchases when a merchant processes your credit or debit card purchase outside the US. This This NYT article looks into this issue and mentions two credit cards that are free of this fee: Capital One credit cards and the Schwab Invest First Visa.

KenBDG4,048 posts since
Nov 29, 2009
Rep Points: 106,905

1. Thursday, February 25, 2010 - 8:19 PM

Interesting article. I have Capital One and Schwab Invest First Visa cards, which I used in Canada last summer. I opened the Capital One account expressly because there was no foreign transaction fee. A table showing the current foreign transaction fees charged by all the major credit and debit card issuers would have made the article even better, however.

Anonymous963 posts since
May 9, 2010
Rep Points: 1,819