How to Reduce International Credit Card Fees
- Apply for a no-fee credit card which will not impose international transaction fees. This allows affords you the security of a credit card without the traditional associated fees.
- Whether you are using an American or international credit card, know how much you are charged for transactions made abroad. Most credit card companies in the
U.S. (Visa, MasterCard, etc.) charge a foreign transaction fee up to 3% to merchants processing the order. Contact customer service prior to traveling so you are not blindsided by unexpected fees. - Another fee that can be imposed on transactions abroad is foreign exchange rates, or a currency conversion fee, which may or not be the best exchange rate out there. For example, if you paid 100 Euros for a meal equal to $125.00, you may be charged fees based on the $125.00.
Source: Vocisole
