Avoiding Fees While Traveling Abroad
In the past when I have travelled to Europe, I never hesitated to use my credit card since they always offered a good exchange rate and I didn't have to worry about my cash getting stolen. However, looking over my credit card bill from this past trip to London, I noticed that there was an entry for each transaction, followed by a fee for each transaction. Then I read this month's Conde Nast Traveler magazine and there is an article about this new phenomena: credit card companies are charging a fee for transactions made in a foreign currency. Some credit card companies will even charge a fee if the purchase was made in dollars, but charged outside the US. According to the article, CapitalOne does not chage these types of fees, and I'm considering getting a CapitalOne card just for when traveling abroad.