Visa's that don't charge fees
 

I just prepaid for a day at the French Open and my Bank of America visa charged 3% for the conversion (their comment). They indicate they will add up the months chareges and add a 3% fee. So since I have 2 months before we head to Europe are their Visa's out there that do not charge this fee?
John Bruin

I believe that Capital One and MBNA cards do not add any conversion fee beyond the one percent charged by VISA and Mastercard.

Visa and MC both add a 1% conversion charge. Some banks add an additional 2% just because they can. Charter One and MBNA don't charge this other 2%. Amex charges a total of 2%. I got a no-fee MBNA Worldpoints card to use in Europe. Works just fine! If you aren't going to be gone long, the additional 2% might not be much, but it can add up quickly, especially for a long trip.

Anne

I have a Visa card issued through AAA from MBNA. I have not yet paid a conversion fee for overseas purchases, as the "stick 'em up" label is so euphamistically called.

At home, I get a slight discount on gasoline with my MBNA card.

Find a bank that doesn't charge all those fees.

I bank with Fleet and transferred by 30 yr mortgage to a 20 year home equity with Fleet with a great rate. Since I have my home equity over a certain amount, they wave all fees (checking, bill pay, etc.).

Now that Bank of America has acquired Fleet, I'm sure I will be probably looking elsewhere to bank, because I'm sure fees will begin. ((b))

Do you have a credit union? Mine issues a Visa that doesn't charge the additional 2% charge, and I've heard that other credit unions do the same.

YOu are going to pay that 1 pct for any VISA/MC, as far as I know, so the difference is really the extra two percent.

I also have a AAA VISA and like it very much, it doesn't charge any extra above the one percent. I also get five percent rebate on gas purchases. I think the rate is fairly low, but don't know as I never carry a balance.

I also have a Capital One MC with no extra fee and FF miles accrual, or cash back of one percent on all purchases, which is what I do instead of fooling with the FF miles. It's called Miles One. They also have a low interest rate, and a low annual fee compared to other FF miles cards -- about $17-19, as I recall.

The AAA VISA is administered by MBNA, I think. As I recall, the Capital One FF card had to be a MC, rather than a VISA (although I think they have regular cards that are VISA).

USAA Fedl Savings V and MC have no annual fees and no add on fees for foreign transactions, 'tho parents V and MC charge 1% which as far as I know is unavoidable as has been mentioned. USAA's exchange rates seem among the most favorable too.
I use my citi/aa mc for aa miles in the usa, but never overseas as they charge an additional 2% like b of a with much less favorable exchange rates.

mikemo, I have USAA also, and if there is a 1% fee, it is certainly hidden. When I look at my statements, I've found that I've gotten excellent exchange rates both with purchases and cash advances. ((b))

This might not work for everyone, but if a debit card is an option, that is sometimes cheaper than using a credit card. I recently called Bank of America to find out what was the charge on foreign transactions for my Visa debit card. They told me it was 2%, but then offered to upgrade me at no charge to Platinum status and there will be no fee. As I said, this won't help everyone, but if you can use a debit card, I think it's worth a call to your bank.

State Farm Visa doesn't charge the extra either, and you get 1% on every purchase in State Farm $. I don't know if you have to be a policy holder to get the card, but I don't think so.