|Subject: Re: Interest on Visa/Mastercard used abroad|
Hi Credit Card Users:
In April a California judge ordered Visa and MasterCard to refund $800 million USD to card users who were charged a hidden exchange fee for use of their cards in other countries. Susan is correct, USAA does not charge a foreign transaction fee and it appears to convert currency at or close to the Interbank rate which is about as good as you can get. The general advice is to sparingly use US credit cards overseas; ATM's are alleged to give you the best rate even if there is a transaction charge.
Tom in Carlisle