Credit Card With No Foreign Transaction Fees

I can certainly see it for snowbirds, who travel to a warmer country for part of the winter season. Personally, I live in Canada, and have a few charges from the US on a regular basis - membership fees in various groups. It still probably only amounts to a couple thousand a year, but the foreign exchange rate between currencies is bad enough - I don't want to add 3% to that. It's not a "special card" used only for foreign charges, but when I chose a Visa card, I chose one with no forex fees.

Can't most snowbirds get a US credit card using their US address? I have ones for Canada and ones for the US? It's an honest question.

My original comment was not meant for people that live in two countries. It was meant for people that go on a cruise for a couple of weeks or even a month. I can see where fees would get high using a foreign ATM like most people suggest. But let's face it. Most people on here are not asking because they are snowbirds.

Can't most snowbirds get a US credit card using their US address? I have ones for Canada and ones for the US? It's an honest question.

 

My original comment was not meant for people that live in two countries. It was meant for people that go on a cruise for a couple of weeks or even a month. I can see where fees would get high using a foreign ATM like most people suggest. But let's face it. Most people on here are not asking because they are snowbirds.

As for snowbirds, I hope to know one day if I become one -- but I hope not to do my snowbirding in the US. There are many people who do not spend their winters in the southern US but instead go to Mexico and Central America. My hope is to winter in Portugal ;)

As I said, though, even those that don't snowbird might have regular foreign charges, though that's more likely for Canadians like me having US charges than the other way around.

But I still say, the people on this cruise website are asking about the use of a credit card for their cruise and not for living in two different countries. Nor do I think they are asking for long time charges like you have.

I'm going to check this out when I'm in Canada in two weeks but if a Canadian can get a US funds checking account I wonder why they can't get a US funds credit card.

I wonder why they can't get a US funds credit card.

They can - I think every major bank in Canada offers a US dollar credit card. There are several options available for the foreign-spending situation; I've decided a card with no foreign transaction fees is the right solution for me. Whether or not it's right for someone else is like every credit card decision - pros and cons or costs vs benefits (including any credit card rewards).

I'm with you 100%. I just applied for a US dollar credit card with no foreign transaction fees after seeing the exchange I received when paying for my cruise. Not only that, we travel extensively in the U.S. and with my current card I was paying an extra 36% for the privilege!

They can - I think every major bank in Canada offers a US dollar credit card. There are several options available for the foreign-spending situation; I've decided a card with no foreign transaction fees is the right solution for me. Whether or not it's right for someone else is like every credit card decision - pros and cons or costs vs benefits (including any credit card rewards).

I'm taking a river cruise this coming November. The only credit card I have is a Hilton Honors AMEX. My understanding is that Visa and Master Card are best for Europe. Can someone recommend a Visa or Master Card that doesn't charge foreign transaction fees? I've heard Capital One may be one of them.

 

Roz

The comments I made though is referencing the above. The people asking about no foreign transaction fees are talking about a week or two cruise. I just don't see the value in getting a separate credit card for a week cruise. That's why I ask - how much do you plan on spending to have this one credit card for a cruise you take every year or so. My credit union only charges 1% so if I spent $5000 I only pay $50. I just don't see the big deal. Sure you save $50 buck but you spent $5000! Never mind the cost of the cruise and the airfare. Surely if you can afford the rest of it you can pay the other.

It is a totally different animal if you are living partially in another country or have constant expenses from another country. The average poster asking about these credit cards though, well they are talking about very infrequent use.

I travel to Canada a lot and I have Canadian credit cards. I use those exclusively when I'm there. Well, except when they help me out and put holds on my account. That's a whole different story.

We were in Europe last summer and did not use a credit card but instead used a debit card to get cash. We opened a Capital One 360 checking account. We also have a Capital One credit card we used as backup. Worked great. Charles Schwab also offers a checking account with no foreign transaction fees. Not entirely your question but I tend to have ADD. :D

Capital one Venture

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"Charles Schwab offers a no-foreign-transaction fee Visa debit/ATM card and all ATM fees each month are refunded at the end of the billing cycle. http://www.schwab.com/public/schwab/...ecking_account

I did this......opened an account that I only use when traveling. It is a great way to put a little aside all year long. Then I use the debit card without fees.