Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

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inbox788
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Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by inbox788 » Thu Jan 18, 2018 5:17 pm

A few issues regarding occasional overseas travel:

1) FYI:
You can soon wave goodbye to the card’s 3% foreign transaction fee. Citi notes the change will be effective on purchases made after Jan. 25, 2018.
https://www.nerdwallet.com/blog/credit- ... ction-fee/

I have avoided using the Costco Citi card while traveling abroad, but it might become my preferred card now. Are there any other 2018 changes to the card, either good or bad?

2) Schwab is always mentioned as the best ATM card that reimburses any fees. I have Citigold which is supposed to be similar. Anyone have Citigold and experienced ATM fees or reimbursements, and have good or bad experiences? I don't want to add a Schwab account just for this. I already have a Fidelity account, but reports are mixed and uncertain about the fees charged.
viewtopic.php?t=207446

3) Besides T-mobile, does any other carrier or plan provide free international data? (for occasional overseas travel)
https://www.t-mobile.com/landing/simple ... tries.html

[Looks like Sprint has matched] https://www.sprint.com/en/shop/services ... aming.html

madbrain
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by madbrain » Thu Jan 18, 2018 5:37 pm

inbox788 wrote:
Thu Jan 18, 2018 5:17 pm
A few issues regarding occasional overseas travel:

1) FYI:
You can soon wave goodbye to the card’s 3% foreign transaction fee. Citi notes the change will be effective on purchases made after Jan. 25, 2018.
https://www.nerdwallet.com/blog/credit- ... ction-fee/

I have avoided using the Costco Citi card while traveling abroad, but it might become my preferred card now. Are there any other 2018 changes to the card, either good or bad?
I hadn't heard about this, thanks for posting. I had left my Costco VISA card at home for this reason in my trips last year.
I used the Chase Sapphire Reserve instead. That's because the CSR gives 3 points per dollar on restaurants and travel, including hotels, which is a big part of my travel spending. I just realized Costco visa does the same - 3% on restaurant and travel purchases. The only thing is that the Citi Costco VISA rewards can only be redeemed at Costco, while Chase offers many more options.

That said, I have been using the Citi Costo visa quite a bit lately on big ticket items purchased in the US because of the 24 months warranty extension. The price rewind site is also very easy to use for price matching. Chase is lagging behind in this way.
2) Schwab is always mentioned as the best ATM card that reimburses any fees. I have Citigold which is supposed to be similar. Anyone have Citigold and experienced ATM fees or reimbursements, and have good or bad experiences? I don't want to add a Schwab account just for this. I already have a Fidelity account, but reports are mixed and uncertain about the fees charged.
viewtopic.php?t=207446
Fidelity Cash visa debit card is fine for foreign use. This is what we have used for years. They don't charge ATM fees and refund other's ATM fees the next day.
3) Besides T-mobile, does any other carrier or plan provide free international data? (for occasional overseas travel)
https://www.t-mobile.com/landing/simple ... tries.html

[Looks like Sprint has matched] https://www.sprint.com/en/shop/services ... aming.html
Be aware that T-mobile does not have any data coverage in some countries, for example, Vietnam, which we visit frequently. There is not even an option to pay roaming fees : your only choice is to change SIM card when you get there. And texts are $0.50 and $5.99/minute for calls in that country. This has greatly reduced the value of the T-mobile "international" coverage for us.

Looks like Sprint has data coverage in Vietnam as part of their "featured destinations". Not sure if our phones are compatible with their network, though. Will take a look. Would be happy to get rid of T-mobile as their signal does not penetrate our house. They gave us a free cell booster (really, in-home cell tower) that works off Internet . But Comcast is down a lot in our area too , and when it is, we have no cell signal. Not even to call Comcast to tell them cable is down. Have to go outdoors to make the call.

Jags4186
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by Jags4186 » Thu Jan 18, 2018 5:47 pm

Unless I’m mistaken, CitiGold requires a $50,000 minimum checking balance to keep it fee free (something crazy like $35 or $50/mo fee) so that’s out immediately to me. Schwab is a bank. Fidelity outsources it’s banking service to UMB. As far as I’m aware no big deal but if you do have an issue it might be more difficult to deal with Fidelity vs Schwab.

The only option for “free” international data is T-Mobile or GoogleFi. GoogleFi may not work for you if you don’t like their phones. It is also not the cheapest. They charge $20 for unlimited talk/text and $0.01/mb anywhere in the world (you might want to check to confirm Vietnam is included in anywhere). They recently changed their fee structure to cap your bill at $80/mo. If you are a light data user it might work just fine for you.

Costco Visa and CSR are very very different products IMO. I have a Costco Visa but I have hard time pulling it out anywhere. When I need extended warranty I use Citi Doublecash for 2% cash back + the same protections the Costco Visa gives.

crit
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by crit » Thu Jan 18, 2018 5:58 pm

Thanks for posting this! Glad to hear it.

madbrain
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by madbrain » Thu Jan 18, 2018 6:22 pm

Jags4186 wrote:
Thu Jan 18, 2018 5:47 pm
The only option for “free” international data is T-Mobile or GoogleFi. GoogleFi may not work for you if you don’t like their phones. It is also not the cheapest. They charge $20 for unlimited talk/text and $0.01/mb anywhere in the world (you might want to check to confirm Vietnam is included in anywhere). They recently changed their fee structure to cap your bill at $80/mo. If you are a light data user it might work just fine for you.
Nope, no data coverage in Vietnam for GoogleFi either.
Costco Visa and CSR are very very different products IMO. I have a Costco Visa but I have hard time pulling it out anywhere. When I need extended warranty I use Citi Doublecash for 2% cash back + the same protections the Costco Visa gives.
I haven't applied for the Citi Doublecash because it is a Mastercard and a lot of my purchases are at Costco. But I guess I should, now that I have an electronic wallet with SamsungPay, I could just put it in there and not carry the physical card.
Wish I could put notes in the app about when to use which card - no such option. I had printed stickers for my other cards to remember (don't laugh).
Ultimately I never want to carry more than 4 physical cards including ATM/debit card.

aqan
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by aqan » Thu Jan 18, 2018 7:51 pm

I use T-Mobile extensively overseas during by business trips and I have to say it is the best thing to know that you will have full connectivity no matter where you go.
Last summer I happen to stop by a sprint store to checkout their offerings and the guy told me that the international data is included in their plan as well, you do have to call before you leave to activate tho. I never double checked tho.

3dream3
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by 3dream3 » Thu Jan 18, 2018 8:57 pm

Thanks! I did not hear about this. This is good since we'll be heading out of the country for spring break. I always wondered why they charged the foreign transaction fee but offered 3% back for travel purchases. We always used another card when traveling abroad but now we won't have to. I'm also with T-Mobile and we always used my phone as well.

HIinvestor
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by HIinvestor » Thu Jan 18, 2018 9:05 pm

We have had free T-Mobile text and data when we have traveled to Canada, Taiwan and SKorea. We have the family plan and now the 55+ $60 for 2 line plan.

I always call and double check which cards are free for foreign transaction fees before we leave HI. :-) Terms Can change and I don’t want to be stuck.

Another thing S told me is that the iPhone ApplePay can be used instead of worrying about if you have pin and chip. It has worked well for him when he travels internationally. ;)

DrGoogle2017
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by DrGoogle2017 » Thu Jan 18, 2018 9:18 pm

If this is true, I can get rid of my PenFed cards. They are serving as back up.

sport
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by sport » Thu Jan 18, 2018 9:36 pm

madbrain wrote:
Thu Jan 18, 2018 5:37 pm
The only thing is that the Citi Costco VISA rewards can only be redeemed at Costco, while Chase offers many more options.
Yes, you have to take the rebate certificate to Costco. However, you do not need to spend the rebate there. Costco will give you cash for the rebate certificate. Although it has not applied to me, I understand that if the rebate is so large that they do not have sufficient cash, they will give you a check for the rebate amount.

madbrain
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by madbrain » Thu Jan 18, 2018 9:42 pm

sport wrote:
Thu Jan 18, 2018 9:36 pm
madbrain wrote:
Thu Jan 18, 2018 5:37 pm
The only thing is that the Citi Costco VISA rewards can only be redeemed at Costco, while Chase offers many more options.
Yes, you have to take the rebate certificate to Costco. However, you do not need to spend the rebate there. Costco will give you cash for the rebate certificate. Although it has not applied to me, I understand that if the rebate is so large that they do not have sufficient cash, they will give you a check for the rebate amount.
Yes, I'm aware and always redeem the Costco certificate in cash. I seem to remember there were some limits on the amount of rewards you could collect on the Citi Costco in certain categories. Those won't apply to me, though.
Chase definitely offers more flexibility - and complexity. Finding the best use of your points is an art. And can take up a lot of time.

darrvao777
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by darrvao777 » Fri Jan 19, 2018 9:39 am

Jags4186 wrote:
Thu Jan 18, 2018 5:47 pm
Unless I’m mistaken, CitiGold requires a $50,000 minimum checking balance to keep it fee free (something crazy like $35 or $50/mo fee) so that’s out immediately to me. Schwab is a bank. Fidelity outsources it’s banking service to UMB. As far as I’m aware no big deal but if you do have an issue it might be more difficult to deal with Fidelity vs Schwab.

The only option for “free” international data is T-Mobile or GoogleFi. GoogleFi may not work for you if you don’t like their phones. It is also not the cheapest. They charge $20 for unlimited talk/text and $0.01/mb anywhere in the world (you might want to check to confirm Vietnam is included in anywhere). They recently changed their fee structure to cap your bill at $80/mo. If you are a light data user it might work just fine for you.

Costco Visa and CSR are very very different products IMO. I have a Costco Visa but I have hard time pulling it out anywhere. When I need extended warranty I use Citi Doublecash for 2% cash back + the same protections the Costco Visa gives.
Nope, citigold is now $200000

Citi priority is $50000

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PaddyMac
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by PaddyMac » Fri Jan 19, 2018 12:36 pm

Am I the only one who is curious/suspicious of cards saying they don't have the 3% surcharge? I don't see banks giving up a whopping 3% anywhere else! "Yes sir, let's drop that interest rate by 3% for you..it's all the rage..."

How likely is it that the exchange rate is being adjusted to compensate?

If someone is abroad, and you have two cards on you, and you want to buy 2 of something with the same price (two sweaters, two rounds of golf, etc), could you please do a test: put one on one card and one on the other, and see what the US$ ends up being on both cards when you get your statement. Preferably the purchase would be made on the same day/time.

Or maybe someone has already researched this and I'm just overly suspicious.

Cheyenne
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by Cheyenne » Fri Jan 19, 2018 1:08 pm

CapitalOne VISA cards also have no foreign transaction fees. And it's no longer necessary to notify them of you travel plans (from their website yesterday).

bearcat98
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by bearcat98 » Fri Jan 19, 2018 1:22 pm

PaddyMac wrote:
Fri Jan 19, 2018 12:36 pm
Am I the only one who is curious/suspicious of cards saying they don't have the 3% surcharge? I don't see banks giving up a whopping 3% anywhere else! "Yes sir, let's drop that interest rate by 3% for you..it's all the rage..."

How likely is it that the exchange rate is being adjusted to compensate?
My impression is that the exchange rate is determined at the Visa/Mastercard level, and that Mastercard has tended to give slightly better exchange rates in the past but maybe not anymore. https://www.doctorofcredit.com/foreign- ... suers-use/
I think Citi is trying to get people to use their cards during expensive, impulse-purchase-filled vacations in the hopes that they carry a balance.

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sunny_socal
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by sunny_socal » Fri Jan 19, 2018 1:29 pm

Nice! I now have three cards with no FTF. It's good to have backups.
- Cap One
- Alliant 2.5% card
- Costco Citi

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ray.james
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by ray.james » Fri Jan 19, 2018 1:38 pm

This is great news! We will also cut down to 3 cards from four but that was planned before. This is just the cherry for our decision.

I am surprised Citi is not putting up banners in Costco to advertise this!
When in doubt, http://www.bogleheads.org/forum/viewtopic.php?f=1&t=79939

Cheyenne
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by Cheyenne » Fri Jan 19, 2018 2:18 pm

Here is some useful information about potential problems with using U.S. chip cards in Europe. https://www.ricksteves.com/travel-tips/ ... -pin-cards

anonenigma
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by anonenigma » Fri Jan 19, 2018 2:31 pm

We used the Costco Citi Card overseas in December and there were no foreign transaction fees.

Another Visa card we have does. We used it just once and ended up with a fraudulent charge and had to have the cards replaced.

madbrain
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by madbrain » Fri Jan 19, 2018 2:41 pm

anonenigma wrote:
Fri Jan 19, 2018 2:31 pm
We used the Costco Citi Card overseas in December and there were no foreign transaction fees.
Perhaps they aren't broken down separately, in which case you would just see a really bad exchange rate for each transaction, and you might not know any better unless you calculate it yourself.

Check your statement again. Look for any transaction for which you know the amount in foreign currency. Then calculate which exchange rate you got from the transaction on your statement in dollar. Then compare to the publicly available exchange rate for that day. Yahoo finance has historical prices for currencies, as I'm sure many other sites do also.

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Watty
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by Watty » Fri Jan 19, 2018 2:57 pm

DrGoogle2017 wrote:
Thu Jan 18, 2018 9:18 pm
If this is true, I can get rid of my PenFed cards. They are serving as back up.
You may also be able to use them as backup to your ATM card.

At least some PenFed cards also have a no cash advance fee. I have the PIN for my PenFed card so that it can be used to get a cash out of an ATM with no advance fee and no foreign transaction fee. I have used this and it works well.

The interest starts when you get the cash advance but I pay it off as soon as I return so several weeks interest on the balance is usually only a few dollars.

My ATM card at the local bank I use has a foreign transaction fee and I don't travel enough to make it worthwhile to move my banking to someplace without a foreign ATM transaction fee.

Note: The ATM cash advance PIN is different than a true Chip and PIN PIN. I have had my card for a few years and is is not a true Chip and PIN. I had to call and request the credit card PIN since they did not automatically send it to me.

When I am traveling in the US I also take my PenFed cards with me as a backup to my ATM card.

Whakamole
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by Whakamole » Fri Jan 19, 2018 3:59 pm

bearcat98 wrote:
Fri Jan 19, 2018 1:22 pm
PaddyMac wrote:
Fri Jan 19, 2018 12:36 pm
Am I the only one who is curious/suspicious of cards saying they don't have the 3% surcharge? I don't see banks giving up a whopping 3% anywhere else! "Yes sir, let's drop that interest rate by 3% for you..it's all the rage..."

How likely is it that the exchange rate is being adjusted to compensate?
My impression is that the exchange rate is determined at the Visa/Mastercard level, and that Mastercard has tended to give slightly better exchange rates in the past but maybe not anymore. https://www.doctorofcredit.com/foreign- ... suers-use/
I think Citi is trying to get people to use their cards during expensive, impulse-purchase-filled vacations in the hopes that they carry a balance.
They also make money on every purchase whether you carry a balance or not. By waiving the surcharge, you might use the card overseas; if they don't waive it, you definitely won't use it.

Afty
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by Afty » Fri Jan 19, 2018 4:10 pm

anonenigma wrote:
Fri Jan 19, 2018 2:31 pm
We used the Costco Citi Card overseas in December and there were no foreign transaction fees.
I traveled to Taiwan and Thailand in December, and I *was* charged the foreign transaction fee when I used my Costco Visa over there. These were for transactions through 12/31.

frugalnotenough
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by frugalnotenough » Fri Jan 19, 2018 6:28 pm

madbrain wrote:
Fri Jan 19, 2018 2:41 pm
anonenigma wrote:
Fri Jan 19, 2018 2:31 pm
We used the Costco Citi Card overseas in December and there were no foreign transaction fees.
Perhaps they aren't broken down separately, in which case you would just see a really bad exchange rate for each transaction, and you might not know any better unless you calculate it yourself.

Check your statement again. Look for any transaction for which you know the amount in foreign currency. Then calculate which exchange rate you got from the transaction on your statement in dollar. Then compare to the publicly available exchange rate for that day. Yahoo finance has historical prices for currencies, as I'm sure many other sites do also.
I used my Citi Costco card to purchase a airline ticket from Taiwan to US for my mom and was charged the 3% exchange fee. The fee was listed separately. I immediately canceled the ticket and used my Capital One card to purchase the ticket instead as I'm not willing to pay the nonsense fees. Very happy to know that Citi Costco doesn't charge the fee now. I shop at Costco in Taiwan so it definitely helps.

DrGoogle2017
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by DrGoogle2017 » Fri Jan 19, 2018 6:30 pm

Watty wrote:
Fri Jan 19, 2018 2:57 pm
DrGoogle2017 wrote:
Thu Jan 18, 2018 9:18 pm
If this is true, I can get rid of my PenFed cards. They are serving as back up.
You may also be able to use them as backup to your ATM card.

At least some PenFed cards also have a no cash advance fee. I have the PIN for my PenFed card so that it can be used to get a cash out of an ATM with no advance fee and no foreign transaction fee. I have used this and it works well.

The interest starts when you get the cash advance but I pay it off as soon as I return so several weeks interest on the balance is usually only a few dollars.

My ATM card at the local bank I use has a foreign transaction fee and I don't travel enough to make it worthwhile to move my banking to someplace without a foreign ATM transaction fee.

Note: The ATM cash advance PIN is different than a true Chip and PIN PIN. I have had my card for a few years and is is not a true Chip and PIN. I had to call and request the credit card PIN since they did not automatically send it to me.

When I am traveling in the US I also take my PenFed cards with me as a backup to my ATM card.
Where do you go to get ATM for PenFed, any bank? I’m in Hawaii right now, I might test it out. I also need to get some foreign money, going to Tahiti next, maybe this is a better solution than having to pay high fee to convert my cash. Plus I need to withdraw my cash first which is another transaction I have to pay for ATM.

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Watty
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by Watty » Fri Jan 19, 2018 6:51 pm

DrGoogle2017 wrote:
Fri Jan 19, 2018 6:30 pm
Where do you go to get ATM for PenFed, any bank? I’m in Hawaii right now, I might test it out. I also need to get some foreign money, going to Tahiti next, maybe this is a better solution than having to pay high fee to convert my cash. Plus I need to withdraw my cash first which is another transaction I have to pay for ATM.
PenFed is the Pentagon Federal credit union that issues several types of Visa and American Express credit cards.

https://www.penfed.org/credit-cards

In the past they have had a number of good promotions like no cost mortgage refinances about five years ago that have been mentioned on this board. That is how I found out about them and became a member.

Once you have the credit card you need to call them up and ask for them to snail mail you a PIN to your home address.

Once you have the credit card and the PIN you can use it at pretty much any ATM in most countries just like you would use an normal ATM card. To test that it actually worked I have gone to a local bank near where I live and gotten $20 out of the ATM to make sure that it worked, which it did.

WhiteMaxima
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by WhiteMaxima » Fri Jan 19, 2018 7:17 pm

1) CSR (no foreign fee, 3% rebate x1.5 , primary auto renter insurance, emergency insurance, airport lounge, etc.

2) Chase privite bank, no foreign ATM fee

3) T-Mobile, 2G or 3G unlimited european data (very important for GPS navi), $.2 phone call

madbrain
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by madbrain » Fri Jan 19, 2018 7:22 pm

WhiteMaxima wrote:
Fri Jan 19, 2018 7:17 pm
2) Chase privite bank, no foreign ATM fee
But do they reimburse the foreign banks' ATM fees ?

LeftCoast
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by LeftCoast » Fri Jan 19, 2018 8:27 pm

That's good news about the Costco Citi Visa. At present we use Bank of America's Travel Rewards VISA when traveling, as that card does not have a foreign exchange fee. Our backup credit card was Fidelity's Visa, which has a 1% FX fee, but also 2% cash back.

For pulling cash from foreign ATMs, we use Fidelity's Debit Card. They do not charge a fee for ATM withdrawals, and they refund any fee charged by the bank that operates the ATM. We have found the foreign exchange rates to be competitive. It's my understanding that the foreign exchange rate is set at the VISA level, and if the card issuer wants to charge a higher rate, they must disclose the markup.

We've used T-Mobile when traveling, and have enjoyed free data in Australia, New Zealand, the U.K. and continental Europe.

DrGoogle2017
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by DrGoogle2017 » Fri Jan 19, 2018 10:04 pm

Watty wrote:
Fri Jan 19, 2018 6:51 pm
DrGoogle2017 wrote:
Fri Jan 19, 2018 6:30 pm
Where do you go to get ATM for PenFed, any bank? I’m in Hawaii right now, I might test it out. I also need to get some foreign money, going to Tahiti next, maybe this is a better solution than having to pay high fee to convert my cash. Plus I need to withdraw my cash first which is another transaction I have to pay for ATM.
PenFed is the Pentagon Federal credit union that issues several types of Visa and American Express credit cards.

https://www.penfed.org/credit-cards

In the past they have had a number of good promotions like no cost mortgage refinances about five years ago that have been mentioned on this board. That is how I found out about them and became a member.

Once you have the credit card you need to call them up and ask for them to snail mail you a PIN to your home address.

Once you have the credit card and the PIN you can use it at pretty much any ATM in most countries just like you would use an normal ATM card. To test that it actually worked I have gone to a local bank near where I live and gotten $20 out of the ATM to make sure that it worked, which it did.
Thank you for your information. It shows, I have not used ATM for a while,I only use it to withdraw from my local bank. When I did over in Italy, Chase did charge me some fee because it was a foreign bank.

denovo
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by denovo » Sat Jan 20, 2018 12:32 am

sport wrote:
Thu Jan 18, 2018 9:36 pm
madbrain wrote:
Thu Jan 18, 2018 5:37 pm
The only thing is that the Citi Costco VISA rewards can only be redeemed at Costco, while Chase offers many more options.
Yes, you have to take the rebate certificate to Costco. However, you do not need to spend the rebate there. Costco will give you cash for the rebate certificate.
This is correct.
"Don't trust everything you read on the Internet"- Abraham Lincoln

Notsobad
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Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by Notsobad » Sat Jan 20, 2018 8:36 am

Glad to see that the Costco card has made the change
Just got chase sapphire Reserve due to the enhanced travel rewards and lounge access
Have a Schwab bank account so use this for ATM fee reversals worldwide. Once the Bank of America card charged us $13.

We have had the Barclay Card arrival,plus for years since there is no foreign transaction fee, 2.1% back on travel, and this is one of the few cards with CHIP AND PIN. This is a true chip and PIN that let us use European petrol stations and train ticket machines. Not sure if that alone is worth the $89 fee, but we got the card years ago, and the non travel rebate is good.

T-Mobile international has worked well in several European countries and India. They only guarantee 2G speed, but the data was usually good enough to make WhatsApp voice calls and use maps.

wickywack
Posts: 46
Joined: Thu Jun 11, 2015 8:09 am

Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by wickywack » Sat Jan 20, 2018 11:52 am

For useful foreign travel cards, I use:
  • Capital One Quicksilver. This is a Chip-and-Signature, no forex card with 1.5% cash back. It's my go-to card.
  • First Tech Platinum Rewards. This is Chip-and-Pin, Pin-Preferred, no forex card. For kiosks or when you don't want to deal with signature (a lot of vendors just aren't used to it), I use this.
  • Schwab Debit Card. For ATM withdrawals, all fees are reimbursed.
All of the above work well for me, as advertised.

For data, I used T-Mobile. In the past, it's been good enough for Google maps in cities.

Afty
Posts: 841
Joined: Sun Sep 07, 2014 5:31 pm

Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by Afty » Sat Jan 20, 2018 12:41 pm

I've used Project Fi for international roaming in Canada, Germany, Taiwan, and Thailand. It worked very well in the first 3 countries (even had LTE in Canada and Germany), but in Thailand, while I had service, it was unusably slow. I would have been better off buying a local SIM in the airport there.

Oliver
Posts: 216
Joined: Mon Sep 03, 2007 11:49 pm

Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by Oliver » Sun Jan 21, 2018 12:29 am

Project Fi uses TMobile contracts with foreign carriers. The extra benefit is that you get LTE speeds ($10/gig) rather than 3g/2g speed.

PS I would rather pay $10 for LTE speeds than 3g for free. You can also suspend or cancel your Project Fi account when you do not need it.

rooms222
Posts: 333
Joined: Fri Feb 22, 2013 2:12 pm

Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by rooms222 » Sun Jan 21, 2018 6:39 pm

Google fi has also been experimenting with adding countries on their own. For example it worked in Sierra Leone over Christmas when T-Mobile did not.


The change in the Costco card is very good. The one time I did use the Costco card overseas was when I was renting cars using the Costco discount. They had the best price for a rental of a manual transmission minivan in Spain.

frequentT
Posts: 127
Joined: Sat Jan 28, 2012 4:06 pm

Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by frequentT » Sun Jan 21, 2018 11:43 pm

Thank you for this update!!

We have some highly skilled international travelers on this site. It is my go-to destination for travel questions.

In the past, I have left my Costco card home due to these fees. I will be happy to use if for hotels, meals, and rental cars. I generally fly American and use an American branded citi card to get better seats and free checked bags. The Fidelity ATM is very reliable for cash.

The TMobile plan and network is so helpful for international travel. Their network and network affiliates overseas provide even better service than in USA. It is so convenient not to mess around with SIM card changes.

I hope that you have some fun adventures in 2018!

WhiteMaxima
Posts: 1487
Joined: Thu May 19, 2016 5:04 pm

Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by WhiteMaxima » Mon Jan 22, 2018 12:58 pm

madbrain wrote:
Fri Jan 19, 2018 7:22 pm
WhiteMaxima wrote:
Fri Jan 19, 2018 7:17 pm
2) Chase privite bank, no foreign ATM fee
But do they reimburse the foreign banks' ATM fees ?
yes. I withdraw cash from foreign ATM and tehy refund ATM fees. I believe 1 per day. cash is still the king in many countries. also credit fraud is a big problem in many other countries. Use cash for small purchase is still prefered.

inbox788
Posts: 5690
Joined: Thu Mar 15, 2012 5:24 pm

Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by inbox788 » Mon Jan 22, 2018 3:57 pm

Thanks for all your responses. Looks like I won't have to do much for now. I think I'll put off the Schwab account until there is some other good reason to open another account. My Fidelity account is drained, but open, so I just have to transfer some funds there and update my ATM card/pin that I never use. It will serve as backup to Citibank/Citigold.

I don't have a T-mobile plan, and have been buying prepaid data cards here or there. Don't have a Google/Nexus phone either. These are great options for those that use them regularly and only travel occasionally, but not a good answer for me for just the occasional travel. Still seeking an alternative to the prepaid cards, but that gets the job done. If I take more trips, I'll have to weigh the costs and benefits of T-mobile free 2G/3G (~$40+/mo) vs $10/GB LTE with Google/Nexus ($300+ phone, $20+data/month).

DrGoogle2017
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Joined: Mon Aug 14, 2017 12:31 pm

Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by DrGoogle2017 » Sun Jan 28, 2018 1:05 pm

Watty wrote:
Fri Jan 19, 2018 6:51 pm
DrGoogle2017 wrote:
Fri Jan 19, 2018 6:30 pm
Where do you go to get ATM for PenFed, any bank? I’m in Hawaii right now, I might test it out. I also need to get some foreign money, going to Tahiti next, maybe this is a better solution than having to pay high fee to convert my cash. Plus I need to withdraw my cash first which is another transaction I have to pay for ATM.
PenFed is the Pentagon Federal credit union that issues several types of Visa and American Express credit cards.

https://www.penfed.org/credit-cards

In the past they have had a number of good promotions like no cost mortgage refinances about five years ago that have been mentioned on this board. That is how I found out about them and became a member.

Once you have the credit card you need to call them up and ask for them to snail mail you a PIN to your home address.

Once you have the credit card and the PIN you can use it at pretty much any ATM in most countries just like you would use an normal ATM card. To test that it actually worked I have gone to a local bank near where I live and gotten $20 out of the ATM to make sure that it worked, which it did.
Thank you for the PenFed suggestion. I used it last night at the Papeete airport to get some cash out at an ATM(bank) and it worked. I used the PIN that they sent me, no special request was necessary(I didn’t have time before I left). I hope for no ATM fee when I get home.

algorithm
Posts: 37
Joined: Sat Jul 23, 2016 2:53 am

Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

Post by algorithm » Sat Feb 03, 2018 2:52 am

inbox788 wrote:
Thu Jan 18, 2018 5:17 pm
A few issues regarding occasional overseas travel:

1) FYI:
You can soon wave goodbye to the card’s 3% foreign transaction fee. Citi notes the change will be effective on purchases made after Jan. 25, 2018.

What about the exchange rate? Does citi give a good exchange rate when using the card outside the US in a foreign currency?
I travel overseas a lot and I have great experience with schwab ATM, barclays cards, and chase sapphire. The transaction gets processed in local currency and then get converted to US dollar and I always get a great exchange rate. I am not sure about Citi Costco.

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