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What credit cards can I get that charge 0% for being used abroad?
question: I will be living abroad soon, and I pay everything by credit card. I am a student and my credit score, according to Credit Karma, is 764. What credit cards can I get that charge 0% for being used abroad?
Asked by
scooby76
3 years ago
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Credit cards in a foreign country can be a great convenience provided that you have a widely accepted card such as a MasterCard, Visa, or American Express. Most processors (Visa, MasterCard, and American Express) will charge a transaction fee and then the credit card issuer (Citibank, Bank of America, Chase, etc.) will then charge another fee on top of that. Most credit card foreign transaction fees will range from 1-3%.
Capital One is the only large credit card issuer without a foreign transaction fee. They go so far as to absorb the 1% transaction fee that Visa and MasterCard charge instead of passing it on the consumer. However, especially in this economic environment, most credit card companies are looking to cut cost so you should double check with their customer service before you apply for this card.
Additionally, Discover also has no foreign transaction fees but their card is not wide accepted abroad making it a poor option.
vendejp 1 year ago
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I've been using Capital One while I've been studying in London, and it's great! The only thing is the low credit limit -- I have a 739 score, and they initially gave me a $1500 limit, which was raised to $2000 after 4 months. It's not a problem because I don't carry a balance, but when I tried to pay for my housing, which cost over $2000 for the term...
Anyway, I recommend Capital One. They have a 1 % cash back card, which is what I'm using.
zanderman 3 years ago
Credit cards in a foreign country can be a great convenience provided that you have a widely accepted card such as a MasterCard, Visa, or American Express. Most processors (Visa, MasterCard, and American Express) will charge a transaction fee and then the credit card issuer (Citibank, Bank of America, Chase, etc.) will then charge another fee on top of that. Most credit card foreign transaction fees will range from 1-3%.
Capital One is the only large credit card issuer without a foreign transaction fee. They go so far as to absorb the 1% transaction fee that Visa and MasterCard charge instead of passing it on the consumer. However, especially in this economic environment, most credit card companies are looking to cut cost so you should double check with their customer service before you apply for this card.
Additionally, Discover also has no foreign transaction fees but their card is not wide accepted abroad making it a poor option.
vendejp 1 year ago