my credit card (citibank) added the foreign transaction fee a few months ago. bummer. but at the time, i think i remember reading that all credit card companies were moving in this direction. so...ymmv...the holdouts may not hold out in the future.

talking of foreign transaction fees, have consumerist checked out ccfsettlement.com.
Looks like the lawyers make out with 27.5% plus expenses, consumers get whatever is left over, divided up in some yet to be determined manner.

@BritBoy:

I got a notice about that settlement. In order to collect any $$$, you have to remember exactly how much you charged on your card for each purchase on an overseas trip and the date(s) of the transaction, going back 3 or 4 years. Feh. Who the hell remembers that stuff or keeps credit card records going that far back? I sure don't. I hope the lawyers enjoy spending my share of the settlement.

I see WaMu is on the "good" list. Isn't this the same company, though, that was totally incompetent in replacing a lost card overseas and canceling fraudulent charges?

This wiki has more specific card info:
http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Card...

I used Capitol One during a 3 month jaunt through South America. They performed as advertised: no transaction fee, and they reimbursed me for the 1% Visa fee.

The real problem, though, was that many vendors in Peru, Ecuador, and Bolivia would tack on an additional 7-10% when you chose to pay by credit card. So I relied on cash, which meant using my WaMu ATM card, which charged me 1% plus $3 per transaction. Those fees quickly added up to no fun.

@Dustbunny:
Absolutely ! Another thing about the very anti-consumer settlement is as you say, who the hell keeps years and years of credit card statements?? Aha ! The credit card companies do, typically 7 years worth.
Any half heartedly consumer friendly settlement would have put the credit card companies to work - they know what they charge in conversion fees and to whom. They should do the work and figure it all out ! The 'work' they would have to do would be a little bit of a penalty to encourage them to avoid similar situations in the future.

Too bad Discover isn't accepted anywhere in Europe.

@TWinter: You mean like the Diners Card?

My credit union Visa charges nothing and waives the Visa 1% fee too. I also use it fee free for cash advances in Europe. Yes, they charge interest on cash advances, but if I pay it online the day it posts, it's always less than a dollar for taking out 500 euros. Credit unions are wonderful.

I looked at a bunch of cards for some recent travels abroad....and I noticed a glaring fact. Every card I was able to find either had the 3% or an annual fee, usually $50 plus.
Sure it is great that you can use a Capitol One card for no transaction % fee, but you still get stuck paying them for the card's annual fee, so you aren't quite free and clear.

Sorry, but I'll stick with chase's 3% for about $3-4000 spent abroad this year instead of messing around with spending an annual fee of the same rate to get a 0%....

i've had a Capitol One credit card for years. they have great customer service.

for example, i called them today about reversing a $35.00 late fee. i explained that i hadn't received the previous month's statement, so i forgot to make a payment. i always pay my bill on time, so i figured it was worth asking. the rep said no problem and reversed it!

bottom line: doesn't hurt to ask. any time you get a late fee, overdraft fee, overlimit fee, take the time to call. be nice, explain what the problem was. even if it was your fault, sometimes they will reverse it for you.

Discover isn't excepted many places, Don't take it and expect it to be your primary form of purchase, hotels may accept it but not much else.

I have Capital One and no annual fee.

I've used the card overseas as well. In France, I went to make a fairly sizable purchase and my Capital One card had been blocked. My fault, I forgot to notify them I was going overseas. They called my house -- I lived with my parents at the time, and my mother explained I was in Europe on vacation. They told her I'd have to call, but later relented when she was able to convince them I was abroad. They called me, after all. Despite the inconvenience on my part, I was extremely pleased with the security measures they put in place -- not even allowing my card to purchase something expensive overseas, and calling immediately to notify me. Cheers to Capital One.

i use American express for travel.. no surcharge on currency exchange

American Express is not widely accepted abroad. Many businesses don't like the fees they have to pay. Hey consumerist, what about foreign credit cards that we can apply for? I'm planning on a 6-month stint in the UK and I was thinking of signing up for a UK card, but I'm unfamiliar with their sign-up requirements. I would imagine that a SSN is useless there.

@dabu:
Yep, a US SSN is meaningless in the UK.
If you are in the UK for only 6 months, it'll be tough getting a UK card. You'd need proof of address (like utility bill/lease agreement and likely a UK bank account and statement).