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Foreign Currency Cost Comaprison

16 Jul 2007 real_mccoy said

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For Australians travelling overseas here is a cost comparison for the various ways to access your money. Cheap Credit Card is the Wizard Clear Advantage Mastercard. This is all AUD$


Source: Choice Magazine, May 2007
  • 17 Jul 2007 SurfAngel said

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    For those in the US, Capital One offers a credit card that doesn’t charge a “foreign currency conversion fee”. Most cards typically charge 3% when used overseas.

  • 17 Jul 2007 ptooma said

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    quote:
    Originally posted by SurfAngel:
    For those in the US, Capital One offers a credit card that doesn’t charge a “foreign currency conversion fee”. Most cards typically charge 3% when used overseas.



    might wanna supply more details… URL link perhaps?

  • 17 Jul 2007 Loogie said

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    Another thing to keep in mind before you go on holiday, is that you may want to call the credit card company to inform them you’re going away, so that they don’t think the card has been stolen and cut you off.

    Nothing worse than wanting to buy that one souveneir in Paris and not being able to.


    Brian
    brij75@yahoo.com

  • 17 Jul 2007 Jeremy said

    Jeremy

    ptooma, I am pretty sure all capital one credit cards do not have a foreign conversion fee, and they also cover the 1% that visa normally charges. So it is zero percent. That is not to say that cash advances are free, regular fees apply to those still. So people still need a way to get cash out with lowest fees possible.

    I bank with USBank and they charge like $2 per use fee, plus 3% conversion, plus local ATM fees. So I’ve been trying to find prepaid debit/travel cards with the lowest fees. The best i’ve found for a prepaid debit card is the Capital One No Hassle Prepaid Visa Debit Card. It’s $1.75 for withdrawal, plus whatever the foreign bank ATM fee is, and since this is a Debit they do charge the 1% conversion fee from VISA. I’ve found some seriously crazy ones that go upwards of 7% plus flat fees. I am not giving anyone free money. If anyone has found any better ones for US residents [without having to switch banks] I’d be glad to hear it!

    http://www.capitalone.com/prepaid/offers/browse/index.php

    I emailed them to confirm fees and to see about a secondary card. I have a capital one credit card already with a low [$1000] balance. I just need the low fee debit card for my travels Smiler<!--graemlin::)-->

  • 17 Jul 2007 jackieNY81 said

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    quote:
    Originally posted by Jeremy:
    ptooma, I am pretty sure all capital one credit cards

    do not have a foreign conversion fee, and they also cover the 1% that visa normally charges. So it is zero percent. That is not to say that cash advances are free, regular fees apply to those still. So people still need a way to get cash out with lowest fees possible.

    I bank with USBank and they charge like $2 per use fee, plus 3% conversion, plus local ATM fees. So I’ve been trying to find prepaid debit/travel cards with the lowest fees. The best i’ve found for a prepaid debit card is the Capital One No Hassle Prepaid Visa Debit Card. It’s $1.75 for withdrawal, plus whatever the foreign bank ATM fee is, and since this is a Debit they do charge the 1% conversion fee from VISA. I’ve found some seriously crazy ones that go upwards of 7% plus flat fees. I am not giving anyone free money. If anyone has found any better ones for US residents [without having to switch banks] I’d be glad to hear it!

    http://www.capitalone.com/prepaid/offers/browse/index.php

    I emailed them to confirm fees and to see about a secondary card. I have a capital one credit card already with a low [$1000] balance. I just need the low fee debit card for my travels Smiler<!--graemlin::)-->



    IMO, capital one sucks.

  • 17 Jul 2007 SurfAngel said

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    Jeremy, thanks for helping me out on this one. You are correct, all capital one credit cards do not have a conversion fee. Unless I can convince my bank to waive the fee, I will definitely be signing up with them.

    JackieNY81, could you provide a little more detail as to why “they suck”? Is it because of poor customer service or other issues? Has anyone else had negative experiences with capital one?

  • 17 Jul 2007 Loogie said

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    I just know they send me way too much junk mail Frowner<!--graemlin::(-->


    Brian
    brij75@yahoo.com

  • 18 Jul 2007 aroundthe said

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    Maybe it’s only US Capital One cards. I have a Capital One with MasterCard in Canada and I still get charge an conversion fee.

  • 18 Jul 2007 Jeremy said

    Jeremy

    It could be only in the US that it is zero percent. They confirmed through email to me that there is zero percent conversion on the credit cards. The only complaint I have about the service is when I tried to get someone on the phone you could tell their native language was not English and had such a heavy accent that I could not understand them. But the email responses have been great, although a bit slow.

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