No Foreign Fee Credit Card - Exchange Rate

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Rainier
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No Foreign Fee Credit Card - Exchange Rate

Post by Rainier » Tue Dec 16, 2014 8:29 pm

I'm looking for a no foreign transaction fee (and no annual fee) credit card. A chip card would also be good. Right now I'm looking at the BankAmericard Travel Rewards and the VentureOne card. I'm open to other suggestions.

My main questions is about the no foreign transaction fee deal. Since I am not paying a foreign transaction fee are they just sticking it to you on the exchange rate or is the exchange rate competitive?

slbnoob
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Re: No Foreign Fee Credit Card - Exchange Rate

Post by slbnoob » Tue Dec 16, 2014 8:45 pm

You might also consider availability of a Chip+Pin feature to use it in Europe (if you're going there).
I've used the PenFed Visa Signature Rewards and found the exchange rate to be very good. Note that the reward category didn't perform the intended way in foreign countries because the merchants aren't coded the same way. I ended up getting only 1% instead of the 5,3,1. That was disappointing.
Others might suggest the Barclays Arrival+ for better rewards. This has an annual fee ($89 2nd year onwards) though.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by Raybo » Tue Dec 16, 2014 8:49 pm

I use Schwab's visa card. I put money in an account and I got one that is a debit card for that account.

It not only gives you the settlement rate for the currency you are changing into but will reimburse the ATM fees, if there are any.

Since it is a debit card, I only use it for getting currency out of a local ATM. No yearly fee.
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Re: No Foreign Fee Credit Card - Exchange Rate

Post by batpot » Tue Dec 16, 2014 9:14 pm

Supposedly Barclay will waive or give you points equal to the fee if you ask/pressure them...I plan to test this in the near future here.

The cap one quicksilver has no annual or foreign xfer fees, but also no chip & pin.

I also think I'm going to open a Schwab acct, as cash is almost always needed too.

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Rainier
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Re: No Foreign Fee Credit Card - Exchange Rate

Post by Rainier » Tue Dec 16, 2014 9:23 pm

I cancelled the Barclay Arrival+ last month just before the one year anniversary. They didn't ask or pressure me into staying. I would have stayed, but I didn't want to pay the fee. The card was actually enrolled in my wife's name (I had a card too). I wonder if I could do another card in my name and get the deal again.

I am going to Europe in February. Does the Venture card have a chip+pin or chip+signature?

For cash I will use my Fidelity debit card. Good exchange rate and fees reimbursed.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by elchris » Tue Dec 16, 2014 9:31 pm

We usually use the Capital one cash back (1.5%) rewards and Schwab bank account during our international travels. From my research a couple of years back it seemed like Capital one CC not only had the no foreign transaction fee but also good/best exchange rates. Unfortunately, no chip so what has ended up happening most of the time is use the Schwab debit to get cash at ATMs and then pay cash everywhere. There are no ATM or foreign transaction fees for using the Schwab debit and frankly I prefer it this way as I don't really trust to use my credit card in some of the places we have traveled.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by JamesSFO » Tue Dec 16, 2014 10:36 pm

Rainier wrote:My main questions is about the no foreign transaction fee deal. Since I am not paying a foreign transaction fee are they just sticking it to you on the exchange rate or is the exchange rate competitive?
Generally you are paying some sort of inter-bank rate. So there is not a markup as such it is some predefined rate that should be described in the documents and is what they are paying.

Strongly consider a card with Chip & PIN for international travel, Pentagon Federal Credit Union (PENFED) has various Chip & PIN cards and it can be very helpful when traveling internationally and facing kiosks.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by icefr » Tue Dec 16, 2014 10:37 pm

Rainier wrote:I cancelled the Barclay Arrival+ last month just before the one year anniversary. They didn't ask or pressure me into staying. I would have stayed, but I didn't want to pay the fee. The card was actually enrolled in my wife's name (I had a card too). I wonder if I could do another card in my name and get the deal again.
You should be able to get one with your wife's name. You didn't apply for it jointly, so she should be able to get one and then you as an authorized user.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by jane1 » Tue Dec 16, 2014 11:16 pm

elchris wrote:We usually use the Capital one cash back (1.5%) rewards and Schwab bank account during our international travels. From my research a couple of years back it seemed like Capital one CC not only had the no foreign transaction fee but also good/best exchange rates. Unfortunately, no chip so what has ended up happening most of the time is use the Schwab debit to get cash at ATMs and then pay cash everywhere. There are no ATM or foreign transaction fees for using the Schwab debit and frankly I prefer it this way as I don't really trust to use my credit card in some of the places we have traveled.
Per their rep, Capital One is rolling out the chip+pin in 2015. Appraently by the end of the year, they plan to complete the roll out. Not sure if you can request one early on.
I have been very happy with their exchange rate, no transaction fees and 1.5% cashback. They have a decent set of alerts for suspected fraud and you can also notify them online of international travel plans.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by Steelersfan » Wed Dec 17, 2014 8:23 am

elchris wrote:We usually use the Capital one cash back (1.5%) rewards.
+1

And in a recent two week trip to Germany I used it without a chip with no issues at the hotels I stayed at.

I bought my train tickets online ahead of time and those went through fine also. That saved a good chunk of change if you're able to set your departure times a few weeks in advance of your trip. I did and I could.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by Grt2bOutdoors » Wed Dec 17, 2014 8:32 am

+1 for Capital One. I used them in Europe - no chip, but the exchange rates were as close to what was reported in Bloomberg and not to mention 1.5% cash back. No transaction fees, either.
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Re: No Foreign Fee Credit Card - Exchange Rate

Post by an_asker » Wed Dec 17, 2014 9:28 am

Steelersfan wrote:
elchris wrote:We usually use the Capital one cash back (1.5%) rewards.
+1

And in a recent two week trip to Germany I used it without a chip with no issues at the hotels I stayed at.

I bought my train tickets online ahead of time and those went through fine also. That saved a good chunk of change if you're able to set your departure times a few weeks in advance of your trip. I did and I could.
Yes, Capital One worked for us in Paris and Berlin as well.

Steelersfan: What rate did you get on the Euro in Germany with Capital One? We got 1.25 and I thought I should've gotten 1.23 or 1.24.

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Steelersfan
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Re: No Foreign Fee Credit Card - Exchange Rate

Post by Steelersfan » Wed Dec 17, 2014 10:14 am

an_asker wrote: Yes, Capital One worked for us in Paris and Berlin as well.

Steelersfan: What rate did you get on the Euro in Germany with Capital One? We got 1.25 and I thought I should've gotten 1.23 or 1.24.
Every transaction was different since they use the current institutional market exchange rate at the time they get the transaction. Two transactions a day = two slightly different rates

I spot checked a few and it was very close to the market rate, not as far off as you say.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by an_asker » Wed Dec 17, 2014 12:03 pm

Steelersfan wrote:
an_asker wrote: Yes, Capital One worked for us in Paris and Berlin as well.

Steelersfan: What rate did you get on the Euro in Germany with Capital One? We got 1.25 and I thought I should've gotten 1.23 or 1.24.
Every transaction was different since they use the current institutional market exchange rate at the time they get the transaction. Two transactions a day = two slightly different rates

I spot checked a few and it was very close to the market rate, not as far off as you say.
Aha! That explains it - I didn't consider intraday variations and was using the average rate that I was seeing. Well, upon looking at the intradays, I am SOL. The specific time we were out there in Europe using our credit cards, the rates leveled out at 1.24 for the most part with some peaks into 1.25 and above. After we returned, it came down to 1.23 etc.

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Rainier
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Re: No Foreign Fee Credit Card - Exchange Rate

Post by Rainier » Wed Dec 17, 2014 2:14 pm

So...it looks like you are getting a competitive market exchange rate on these cards.

I'm a little tired of the playing the bonus game and cancelling after a year. My AMEX is my main card, but I would like a good Visa/MC for backup (and no foreign fees). I'm currently using a Chase Freedom that only gives 1% and charge foreign fees. The Capital One is looking like a good card.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by sddiehard » Wed Dec 17, 2014 4:59 pm

Found this to be informative: http://www.creditcards.com/credit-card- ... g-1280.php

Also good is this from Rick Steves' site: https://www.ricksteves.com/travel-tips/money/card-fees

We use a smaller bank (Visa) credit card for purchases and an asset management debit card for ATM cash withdrawals, each don't charge foreign transaction fees.

Paul

555
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Re: No Foreign Fee Credit Card - Exchange Rate

Post by 555 » Mon May 11, 2015 1:34 pm

jane1 wrote:Per their rep, Capital One is rolling out the chip+pin in 2015. Appraently by the end of the year, they plan to complete the roll out. Not sure if you can request one early on.
I have been very happy with their exchange rate, no transaction fees and 1.5% cashback. They have a decent set of alerts for suspected fraud and you can also notify them online of international travel plans.
Does anyone know if this card comes with a chip? How about chip+pin?
Any comparable cards being recommended?

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by an_asker » Mon May 11, 2015 3:20 pm

I own a PenFed chip-pin card and a CapOne chip-sign card. Will let you know about my experiences in a couple of months. :-)

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by jlawrence01 » Tue May 12, 2015 2:52 am

555 wrote:
jane1 wrote:Per their rep, Capital One is rolling out the chip+pin in 2015. Appraently by the end of the year, they plan to complete the roll out. Not sure if you can request one early on.
I have been very happy with their exchange rate, no transaction fees and 1.5% cashback. They have a decent set of alerts for suspected fraud and you can also notify them online of international travel plans.
Does anyone know if this card comes with a chip? How about chip+pin?
Any comparable cards being recommended?

I just received my pin and chip card from Capital One about six weeks ago. I doubt if they are issuing new cards with the old technology.

Capital One is very good with notifying you of any major deviations in your spending patterns. For example, when I tried to charge my interstate move ($8000) to my credit card, they quickly notified me. Ditto on my last vacation.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by navyitaly » Tue May 12, 2015 5:36 am

Living in Europe for the US Military, I live and die this everyday and have become a novice expert...

1. No fee card simply means you should get the rate on this website.
http://usa.visa.com/personal/card-benef ... ulator.jsp

https://www.mastercard.com/global/currencyconversion/

2. International transactions (for Visa, AMEX) are charged the day of processing, not the day of charge, so that's why confusion happens. You don't always know the day of processing, so it could be higher or lower than the temporary charge. For Mastercard, it's the day of charge.

For example, I made a Visa purchase on Saturday in the amount of $42.67 EURO. The rate happened to be the same on the website for 9,10, and 11 May so I paid $48.17 on my BofA Travel Rewards card. If it would have settled on the 12th, the rate would be slightly lower and the actual charge would have been slightly lower.

I also made a Mastercard charge. It's always exactly the same up until like the fifth or sixth zero. I think this has to do with rounding, but for all intensive purposes it's the same and it's always for the day of charge.

3. You can't predict what day it will actually process, so it's hard to know what you will be charged, but it's usually same or slightly higher, or lower than what's temporary (Visa/MC)

4. When we talk foreign transaction fees, they are talking the bank add on fees...so fill it out in the calculator for Visa.

5. How Visa, Mastercard, AMEX, Discover come up with their rate, who knows...I am sure there's money (spread) built in for Visa, MC, AMEX and what they do with the profit (distribute it, keep it etc), who cares you can't change it.

6. So if you have the BofA card, put 0% plus the amount and based on what day it processes will be your charge. If the card charges you 1% like USAA, you put 1% in the box. This is for Visa again. But, you can do the math for Mastercard.

7. AMEX doesn't release their info to the public.

8. Systems operate in US time so you can't game the system that easy. For example, it's 1230 PM in Europe now. If I use my Mastercard, I can't go on the website before I purchase to get the rate as it's not available yet. For Visa you can get an idea, but it won't settle today. For AMEX, you have no idea.

9. I have no idea what Discover uses.

So why do people say MC is better than Visa, or vice-versa. Because they use different methods to get their rate.

Apples to Apples:
May 11: Visa: 1.12878
May 11: Mastercard: 1.11920044 (Mastercard reports what 1$ = so you have to do some math, 1 divided by rate posted)
Mastercard Cheaper

April 28: Visa: 1.092691
April 28: Mastercard: 1.0988999
Visa Cheaper

These were both random dates.

I know for sure this works with Bank of America, Barclays (Arrival+), and Navy Federal Credit Union. Also finally, Navy Federal Credit Union is a true chip and pin...the only one that I know of..when I use it anywhere, it requires pin...every other card I know of defaults to signature first (even with Pin option).

Hope this helps someone.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by 555 » Tue May 12, 2015 12:19 pm

jlawrence01 wrote:I just received my pin and chip card from Capital One about six weeks ago. I doubt if they are issuing new cards with the old technology.
Thanks.
jlawrence01 wrote:1. No fee card simply means you should get the rate on this website.
http://usa.visa.com/personal/card-benef ... ulator.jsp
https://www.mastercard.com/global/currencyconversion/
Thanks. These look close enough to the "true" exchange rates, from comparing to other websites.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by an_asker » Tue May 12, 2015 5:05 pm

jlawrence01 wrote:
555 wrote:
jane1 wrote:Per their rep, Capital One is rolling out the chip+pin in 2015. Appraently by the end of the year, they plan to complete the roll out. Not sure if you can request one early on.
I have been very happy with their exchange rate, no transaction fees and 1.5% cashback. They have a decent set of alerts for suspected fraud and you can also notify them online of international travel plans.
Does anyone know if this card comes with a chip? How about chip+pin?
Any comparable cards being recommended?

I just received my pin and chip card from Capital One about six weeks ago. I doubt if they are issuing new cards with the old technology.

Capital One is very good with notifying you of any major deviations in your spending patterns. For example, when I tried to charge my interstate move ($8000) to my credit card, they quickly notified me. Ditto on my last vacation.
jlawrence01:

Just curious whether you used the Capital One chip and pin card, i.e., the pin aspect of it. The reason I am asking is that I received mine within the last couple of weeks and the rep I spoke to was categorical that it was a chip and sign card. In other word, my experience mirrors that of jane1.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by jlawrence01 » Sat May 16, 2015 11:47 am

an_asker wrote:
jlawrence01 wrote:
555 wrote:
jane1 wrote:Per their rep, Capital One is rolling out the chip+pin in 2015. Appraently by the end of the year, they plan to complete the roll out. Not sure if you can request one early on.
I have been very happy with their exchange rate, no transaction fees and 1.5% cashback. They have a decent set of alerts for suspected fraud and you can also notify them online of international travel plans.
Does anyone know if this card comes with a chip? How about chip+pin?
Any comparable cards being recommended?

I just received my pin and chip card from Capital One about six weeks ago. I doubt if they are issuing new cards with the old technology.

Capital One is very good with notifying you of any major deviations in your spending patterns. For example, when I tried to charge my interstate move ($8000) to my credit card, they quickly notified me. Ditto on my last vacation.
jlawrence01:

Just curious whether you used the Capital One chip and pin card, i.e., the pin aspect of it. The reason I am asking is that I received mine within the last couple of weeks and the rep I spoke to was categorical that it was a chip and sign card. In other word, my experience mirrors that of jane1.
I think that I have used the chip about twice in 60 pays. Most retailers have NOT invested in the new card readers and still swipe.

Lazysundays
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Re: No Foreign Fee Credit Card - Exchange Rate

Post by Lazysundays » Sat May 16, 2015 4:42 pm

Definitely a perk of the Schwab debit card. Refunds in ATM fees and awesome foreign exchange on ATM use.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by Oliver » Sat May 16, 2015 4:51 pm

It will be critical to inform capital one of your international travel. If you do not inform them expect to have your credit card declined. I would also carry a backup card, they are very very aggressive in preventing fraud.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by Oliver » Sat May 16, 2015 4:53 pm

Lazysundays wrote:Definitely a perk of the Schwab debit card. Refunds in ATM fees and awesome foreign exchange on ATM use.
+1. The debit card is great!!

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by bcjb » Sat May 16, 2015 4:55 pm

Another vote for the Capital One Quicksilver card -- it's fantastic for use abroad. However, I just received my new chip card, and it is chip & sign, not chip & pin. It's unclear whether I can ask Cap One to add a pin. I'm traveling to Europe soon, so I will call them. The only thing that will be more confusing to the average European salesperson than a simple sign card will be a card that looks like a European one but isn't (ie, no pin).

Edited: I called and they are converting my card to chip & pin. Of course, it might still not be a European chip & pin (the pin might be worthless for all I know). I'll find out soon enough..

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by an_asker » Mon May 18, 2015 10:22 am

jlawrence01 wrote:
an_asker wrote:[...]jlawrence01:

Just curious whether you used the Capital One chip and pin card, i.e., the pin aspect of it. The reason I am asking is that I received mine within the last couple of weeks and the rep I spoke to was categorical that it was a chip and sign card. In other word, my experience mirrors that of jane1.
I think that I have used the chip about twice in 60 pays. Most retailers have NOT invested in the new card readers and still swipe.
I was not asking about the chip aspect, but about the pin. Did you enter a pin or did you sign? If you entered a pin, I am calling CapitalOne stat to get me upgraded as well!

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8foot7
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Re: No Foreign Fee Credit Card - Exchange Rate

Post by 8foot7 » Mon May 18, 2015 10:26 am

I have found the visa/mc rates are close enough to true bank rates that it is satisfactory for me, and I am generally cheap.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by biquet » Mon May 18, 2015 12:09 pm

+1 for the Capital One Quicksilver. I've used it in the U.K., and the exchange rate was great.

Some merchants will offer to charge you in dollars instead of the local currency, a practice called Dynamic Currency Conversion (DCC). Don't do it. You'll get a crappy exchange rate and an additional processing fee of 3%, give or take. Always choose the local currency.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by jlawrence01 » Mon May 18, 2015 12:33 pm

an_asker wrote:
jlawrence01 wrote:
an_asker wrote:[...]jlawrence01:

Just curious whether you used the Capital One chip and pin card, i.e., the pin aspect of it. The reason I am asking is that I received mine within the last couple of weeks and the rep I spoke to was categorical that it was a chip and sign card. In other word, my experience mirrors that of jane1.
I think that I have used the chip about twice in 60 pays. Most retailers have NOT invested in the new card readers and still swipe.
I was not asking about the chip aspect, but about the pin. Did you enter a pin or did you sign? If you entered a pin, I am calling CapitalOne stat to get me upgraded as well!


Just a signature. And an ID.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by an_asker » Mon May 18, 2015 12:55 pm

jlawrence01 wrote:
an_asker wrote:
jlawrence01 wrote:
an_asker wrote:[...]jlawrence01:

Just curious whether you used the Capital One chip and pin card, i.e., the pin aspect of it. The reason I am asking is that I received mine within the last couple of weeks and the rep I spoke to was categorical that it was a chip and sign card. In other word, my experience mirrors that of jane1.
I think that I have used the chip about twice in 60 pays. Most retailers have NOT invested in the new card readers and still swipe.
I was not asking about the chip aspect, but about the pin. Did you enter a pin or did you sign? If you entered a pin, I am calling CapitalOne stat to get me upgraded as well!


Just a signature. And an ID.
Well, then your card is a chip-and-sign card and not a chip-and-pin card (unless you can prove me wrong by using it on a chip-and-pin machine, for which you will need to travel out of USA maybe!) ;-)

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by batpot » Mon May 18, 2015 1:54 pm

Rainier wrote:I cancelled the Barclay Arrival+ last month just before the one year anniversary. They didn't ask or pressure me into staying. I would have stayed, but I didn't want to pay the fee. The card was actually enrolled in my wife's name (I had a card too). I wonder if I could do another card in my name and get the deal again.
My wife and I did exactly this a few months ago.

I tried to get them to waive the annual fee, or give me rewards in the amount of it; they wouldn't, so I cancelled.
In the end it's better, because we got a new sign-up bonus, too!
For one month I had to transfer some recurring bills onto another card, but it was worth that small amount of effort.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by terran » Mon May 18, 2015 10:04 pm

jane1 wrote: Per their rep, Capital One is rolling out the chip+pin in 2015. Appraently by the end of the year, they plan to complete the roll out. Not sure if you can request one early on.
I've tried and no. I believe all cards have to use chips by this fall. I don't know if capital one plans to do chip and pin or chip and signature.

The exchange rate on our capital one quicksilver card seemed pretty close to the "true" exchange rate after our last european vacation (a year ago now).
bcjb wrote: Edited: I called and they are converting my card to chip & pin. Of course, it might still not be a European chip & pin (the pin might be worthless for all I know). I'll find out soon enough..
Please report back. I would be very interested to know whether it works.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by bcjb » Tue May 19, 2015 4:42 am

terran wrote:
bcjb wrote: Edited: I called and they are converting my card to chip & pin. Of course, it might still not be a European chip & pin (the pin might be worthless for all I know). I'll find out soon enough..
Please report back. I would be very interested to know whether it works.
Unfortunately, it turns out my new pin will arrive after I've already left the country, so I won't be able to test it out until fall at the earliest -- probably not until winter. Very frustrating. If any Bogleheads find out before then, please let us know whether it works.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by an_asker » Tue May 19, 2015 8:58 am

bcjb wrote:
terran wrote:
bcjb wrote: Edited: I called and they are converting my card to chip & pin. Of course, it might still not be a European chip & pin (the pin might be worthless for all I know). I'll find out soon enough..
Please report back. I would be very interested to know whether it works.
Unfortunately, it turns out my new pin will arrive after I've already left the country, so I won't be able to test it out until fall at the earliest -- probably not until winter. Very frustrating. If any Bogleheads find out before then, please let us know whether it works.
That's too bad. I will try to call tonight to find out. Like I said, I already have the chip-and-sign card; need to see if I can get the chip-and-pin one mailed before we leave! When are you slated to get yours and how long did they say it would take (i.e., since the time you called them to request one)?

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by bcjb » Tue May 19, 2015 5:53 pm

They said it would take 7 business days and so far, that seems to be right on target.

Fortunately, however, Kevin M has just posted an update from Nice, France, where he has been using a Capital One chip-and-sign card without any problems (viewtopic.php?f=11&t=166094). So it seems I (and many others) have been worried for no reason.

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Re: No Foreign Fee Credit Card - Exchange Rate

Post by an_asker » Tue May 19, 2015 6:19 pm

bcjb wrote:They said it would take 7 business days and so far, that seems to be right on target.

Fortunately, however, Kevin M has just posted an update from Nice, France, where he has been using a Capital One chip-and-sign card without any problems (viewtopic.php?f=11&t=166094). So it seems I (and many others) have been worried for no reason.
Well, I could have said that as well! :-)

We were in Paris and Berlin last year and were OK with the swipe and sign card as well. The whole purpose of having the chip-and-pin is for use at locations where human interaction is not possible (train tickets when humans are not around or some other such weird scenario).

protagonist
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Joined: Sun Dec 26, 2010 12:47 pm

Re: No Foreign Fee Credit Card - Exchange Rate

Post by protagonist » Tue May 19, 2015 6:25 pm

I second the recommendation of Arrival Plus if you are traveling for many reasons:
-Chip and pin
-40K point signup bonus waived first year after $3K spend in 3 months plus 10% reimbursement of points when used and 2x points on every purchase. Thus spend $3K in 3 months and get 40000+4000+6000+600= equivalent of 50,600 points. These can be used to offset any travel expenses at 1:1. so you get credited for your first $506 of ANY travel expenses. You made $506.
-First year annual fee is waived. You can cancel before getting charged.
-No foreign transaction fee.
-Other minor benefits as well.

MariaT
Posts: 172
Joined: Mon Feb 19, 2007 9:34 pm

Re: No Foreign Fee Credit Card - Exchange Rate

Post by MariaT » Tue May 19, 2015 6:30 pm

Used PenFed Signature Cash Rewards card in Europe and Costa Rica and no problems at all. Love it because of the no foreign transactions fees. We seldom use the Amex Card due to foreign fees when traveling abroad. The say "Don't leave home without it." It doesn't apply when you travel outside the US.

Warm regards,
Maria

bcjb
Posts: 445
Joined: Wed Aug 21, 2013 7:01 pm

Re: No Foreign Fee Credit Card - Exchange Rate

Post by bcjb » Tue May 19, 2015 7:48 pm

an_asker wrote:
bcjb wrote:They said it would take 7 business days and so far, that seems to be right on target.

Fortunately, however, Kevin M has just posted an update from Nice, France, where he has been using a Capital One chip-and-sign card without any problems (viewtopic.php?f=11&t=166094). So it seems I (and many others) have been worried for no reason.
Well, I could have said that as well! :-)

We were in Paris and Berlin last year and were OK with the swipe and sign card as well. The whole purpose of having the chip-and-pin is for use at locations where human interaction is not possible (train tickets when humans are not around or some other such weird scenario).
OK, fair enough. But Kevin M indicates that the card worked fine in some of the ticket machines. I wasn't expecting that to be the case.

bcjb
Posts: 445
Joined: Wed Aug 21, 2013 7:01 pm

Re: No Foreign Fee Credit Card - Exchange Rate

Post by bcjb » Mon Jun 22, 2015 4:13 pm

Another update about chip + pin. The pin I requested unexpectedly arrived the day before I left on my trip, so I had the chance to try it out.

Unfortunately, the chip + pin system didn't really work. Not once did I have the option to enter my pin (or was I prompted by the vendor to enter it). Even worse, several large payments went straight through without a signature. (I'd give my card and the machine would print out the receipt without giving me the option to sign for the purchase.) I guess my card looked & acted like a chip + pin card until the end, when no pin was required. Not exactly what I was looking for; a card that any pickpocket can use for a ~$1000 purchase without even having to attempt to forge my signature.. On the positive side, the card itself worked very well, even in automatic ticket machines.

User avatar
Hat
Posts: 53
Joined: Wed Feb 10, 2010 10:27 pm

Re: No Foreign Fee Credit Card - Exchange Rate

Post by Hat » Mon Jun 22, 2015 11:01 pm

MariaT wrote:Used PenFed Signature Cash Rewards card in Europe and Costa Rica and no problems at all. Love it because of the no foreign transactions fees. We seldom use the Amex Card due to foreign fees when traveling abroad. The say "Don't leave home without it." It doesn't apply when you travel outside the US.

Warm regards,
Maria
AMEX is moving away from foreign transaction fees on their higher-end and travel cards.

All personal platinum, gold, and delta cards have no foreign transaction fees. Starting August 11, neither will the Starwood Preferred Guest card.

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