Credit Card International Fees

Overall Rating: star ratingstar ratingstar ratingstar ratingstar rating[0/5]Total Votes [  ]  
Rate this page:
Most of us, who have used credit cards in any overseas transaction, would be aware of the Credit Card International Fees. The card issuers here charge on the foreign exchange payment. This amount varies from one issuer to the other. To take reference from a study by Pew Trusts that was done as recent as 2010, revealed that 90 per cent or more bankcards and approximately 60 per cent credit union cards cut charge in foreign transaction fees. Charles Lepcha, the publisher of Tripso is of opinion that most people carry three to four credit cards that has various fees. This is a main reason why it is interesting to find out the cards that would add less to the entire trip expense.

Evaluating International Credit Card Fees

While browsing on Credit Card International Fees it is important to know about the players in the market. For instance, you have MasterCard and Visa that supervises the business between the bank and the merchant. Each of them would charge a percent of the overseas transaction bill. Majority of users of MasterCard and Visa payment system add up their bills over that. For instance, if you are using a Bank of America MasterCard, you have to shell out 1 per cent of MasterCard charges and add 2 per cent of the fee levied in Bank of America. So the total goes up to 3 %.

Other players like American Express and Discover do not utilize MasterCard of Visa payment process. Here also there is an addition of charges for foreign credit card transaction. If you are a Discover cardholder, then you need to be aware that not many countries accept the same. Hence, here the foreign transaction fees might not be applicable even.

Can you avoid the fees?
While discussing on Credit Card International Fees it is important to note that, the percentage that is levied varied from one card issuer to the other. In such a case, the question that arises is that can altogether avoid the fees. The answer is yes you can. This is possible only if you own a Capital One Card. The fees are waived up by the issuer totally. This in turns relieves the cardholders of a huge amount of money. This is truer if a Capital One card owner tours frequently.

Credit Card International Transaction Fees

If you have been planning for a overseas vacation, it is imperative that you check in the percentage of fees each card issuers deducts. We have provided a basic tabular chart below.

Issuer Issuer Fees MasterCard/Visa Fee Total Fees
American Express 2.7 % n/a 2.7 %
Citi 2 % 1 % 3 %
Capital One None None None
Bank of America 2 % 1 % 3 %
Walls Fargo 2 % 1 % 3 %
Discover 2 % n/a 2 %
Barclaycard/Juniper 2 5 1 % 3 %
HSBC 2 % 1 % 3 %
USA Bancorp 2 % 1 % 3 %
Chase 2 % 1 % 3 %
USAA None 1 % 1 %
The USAA is mostly for the ones associated with military services.

Last Updated on 12/23/2010