Hello everyone. I have plane tickets to visit Berlin and Amsterdam in May and am a bit stunned by the stupendous decline of the dollar against the euro. I need information on credit card foreign exchange fees - where are the best deals that can save me a few dollars on credit card exchanges when I travel? Any suggestions?

Please do a search on this forum. This topic has been discussed multiple times.

Capital One is one of the few CC that adds 0% to the amount charged. And they give a fair exchange rate. There are several others that only add 1%.

We are 20 year Citibank Visa holders but switched recently to Capital One because they charge no fee. Many cards charge 3%. The costs can add up.

woodstockguy,
See http://www.bankrate.com/brm/news/cc/20050624b1.asp

Henry

If you are asked if you want your card charged in 'dollars', say NO. Dynamic Currency Conversion is when a merchant converts the local charge into dollars (or whatever your card's home currency is), then the bank still tacks on the 3% fee for foreign currency transactions. So you pay extra in the exchange rate and get hit with the fees. Bad.

Check on the fees your local credit union might charge. Mine charges none for either the credit card or the ATM card.

Credit Card: You will not be charged interest if you pay before the due date. Make arrangements to pay electronically. Check a recent billing statement, it will note that a one-time transaction fee is charged for each foreign transaction. Your credit card company will convert the foreign currency charge to US dollars at a bit less than the daily rate. I suggest you query your CC company directly about fees. The Universal Card charges 36% annual interest on over due purchase payments! AX notes they charge 18.24% on overdue purchase amounts! Remember the CC company is charging your purchasing source a fee for guaranteeing payment/extending credit.

Capital One. Capital One. Capital One.
Bring back-up card - Master or Visa
but not Amex which is not as widely
accepted as prev. two.

Thanks everybody. It sounds like Capital One is the place to go, and I will take your advice promptly.