|Subject: Credit Cards Abroad|
I travel abroad a fair amount, both for personal and business reasons, but something is happening that will affect my ability to do so: CREDIT CARD TRANSACTION FEES.
All the Credit Card companies are adding "transaction fees", for which they do nothing, on top of the usual 1% conversion fees. The banks are then passing this on to the customer, 3% at least. (There are further twists that can add even more hidden charges, such as when a foreign merchant converts to dollars and charges you an additional "convenience" fee.)
A 3% surcharge is quite a hefty addition to a traveler's budget. I have not been able to find a bank that does not do this. I would think that instead of the usual APR ploy, some bank would issue a credit card aimed at travelers.
Does anyone have any ideas how to avoid the surcharge?
Best regards, Mike Madison, Wisconsin