Non-FL Related: Foreign Currency Fee on CC

[onelilspark]

Hi all, I was hoping someone here might have a suggestion. I just started a new job that has me traveling to Canada on a regular basis. I went the first time last week and when I checked my credit card statement online, noticed I was charged a Foreign Currency Transaction Fee (side note: I've traveled to the Caribbean and never noticed the fee before, so I was surprised to see it after traveling to Canada.) SO...since I'll be traveling a lot to Canada and my honeymoon later this year is in Europe, does anyone have a suggestion for a card that does not charge those fees? Since I don't have a receipt for them, I don't know if I can get reimbursed for them (though I might raise a stink if they start piling up!)

Thanks in advance for any help!

 

[jlewisinsyr]

A good company should reimburse you for foreign currency exchange fees, it's just part of doing business.

As for cards that don't charge a fee, just the currency exchange rate, look for a Capital One card.

 

[vicki_c]

I didn't think there were any cards that didn't charge the currency conversion type fee. I know my corporate AmEx card does, and also any personal credit card I have used in Canada did.

Maybe if you found a particular card that is marketed towards international travelers? I might try Googling or checking one of those credit card benefit review type sites (of course I don't have any link to one of those, but I know they are out there).

However I agree that that is part of your normal reimbursement from your company for business travel. I've never heard of a company not paying that type of charge if they send you somewhere internationally on business. I can't imagine anyone raising a stink about it, since it's part of your business travel.

 

[onelilspark]

Guess I just have to figure out how to do it...I was hoping I could be lazy and avoid the extra work

 

[phred52]

As a prior poster said, Capital One doesn't charge that fee. There is also a financial institutions out there that actually absorbs ATM fees when you use its card in European ATM's. THAT perk saved me a bundle.

 

[crashbb]

I cannot answer your question (not being in the US), but I run into this when I travel for work (I'm in Canada). For reimbursement, I simply submit a copy of my credit card statement (with personal details blacked out) and get reimbursed for the total amount I'm charged in Canadian dollars (so, this factors in the inflated exchange rate that the credit card uses). Could you do something like that? Even on a card that doesn't charge a fee, this method means that I don't have to estimate the exchange rate that was in place on the day of the purchase.

 

[onelilspark]

Thanks, crashbb that helps. I need to submit receipts, and I didn't know what to do about the personal stuff...duh! Just black it out! Thanks

 

[pr surfer]

There's a very good chart over here: http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

Long story short, if you want 0%, check credit unions and Capital One.