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[06:50:54 AM Thursday, December 06, 2007]
Get a Credit Card with No Foreign Exchange FeeWhen you get ready for a far-distant journey, whether you go on a business trip or it is just a travel abroad, you need to take care of lots of things. Tickets, reservations, passport, visa, clothes, and many-many other things. And yeah! Right! Money. Cash? Naw... all those currency exchanges, thefts cases - too dangerous. A credit card then. Yes. But which one? In case you decided to spend your vacation, holidays, honeymoon, or spring break outside the US it will be better for you to apply for a new credit card. You need to choose a plastic coinciding with your trip's goals and peculiarities. Your card's foreign exchange fee should be one of the major points for you to make your choice. There is no need to explain why going to another country you need to pay attention to your card's foreign exchange fee. Just imagine how many headaches you avoid with the right plastic. You will not have to carry much cash with you, will not have to deal with currency exchange and lose your money on that. All you need to do to enjoy your trip to the max is just pick a perfect card for your travel with the lowest foreign exchange fees. So, let's see how you can shop with your US plastic outside the country. When you make purchases abroad with your Visa or MasterCard, the credit card company, having converted your charge to US dollars, adds this amount of money spent to your total monthly bill. The charge for this exchange process is the first component of the foreign exchange fee attached to your card deal. It equals to 1 %. The rest part of the fee is the extra percents that your bank adds to the 1 %. In result, as a rule, you are offered 3% foreign exchange fee on your card. However, you can find a card deal with no such fee, which, as you understand, will be really profitable for you. Discover and Capital One are the only credit card issuers to design offers with no foreign exchange fee. But there was a rumor spread around that Capital One is planning to start charging this fee. So, in case you are going abroad with a no foreign exchange fee plastic from Capital One in your wallet, make sure that this option is still available. For that, just contact your bank and talk to a manager. As for Discover, there is also a nuance that is worth mentioning. This company's cards are not so widely accepted all over the world as MasterCard and Visa. So, before you get on a plane find out whether your Discover card will be accepted in your final destination point or not. Besides traveling abroad, this foreign exchange fee is charged for online purchases you make on foreign sites. So, whether you are a fan of traveling, or if your work involves frequent business trips, or if you are a permanent customer of foreign online products, you should not overlook a foreign exchange fee making a credit card deal.
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