Foreign Exchange Fees - Capital One

I was looking at my existing credits cards to find one that doesn't have foreign transation fees for my ED trip in July. It looks as though Capital One doesn't have foreign transaction fees and I noticed that I had an old account that I used in years (yea, I know, I should keep on top of this stuff better

When I called to confirm no foreign transaction fees, they said that they didn't have foreign transaction fees but that the account had been closed sometime in 2010. When I asked them specifically when and why, they hung up on me.

I'm not a customer service expert, but I'm pretty sure that's not the way to run things.

Thad

It's not, and I'd say that Cap One's customer service leaves a lot to be desired. But it's worth having a CapOne card for international travel.

A lot of CC cos. made efforts to close accounts and reduce credit limits over the last couple of years because they realized they were massively overexposed. Despite an excellent credit history and ability to pay, two accounts significantly reduced my credit line. I didn't really care because I never revolved that much in a month, but it showed what they were doing.

Originally Posted by Thad

I was looking at my existing credits cards to find one that doesn't have foreign transation fees for my ED trip in July. It looks as though Capital One doesn't have foreign transaction fees and I noticed that I had an old account that I used in years (yea, I know, I should keep on top of this stuff better

When I called to confirm no foreign transaction fees, they said that they didn't have foreign transaction fees but that the account had been closed sometime in 2010. When I asked them specifically when and why, they hung up on me.

I'm not a customer service expert, but I'm pretty sure that's not the way to run things.

Thad

Their commercials with the russian guy in siberia is actually an apt portrayal of their customer service line.

C1 does have a reputation for the worst service. I think it expired now but the venture miles match was a great deal and that card has no foreign fee. You should have plenty of time to find a card with no fee. Also call your bank and see if there are atms you can use without fee. I know last year Wachovia let us withdraw from Deutsche bank atms.

I tolerate C1's lousy customer service because of their lucrative points program with the Venture card.


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If you're in the market for a new CC (since your Cap1 is closed), I think Platinum AMEX has no foreign transaction fee any more as well.
(swear I read that in an update email from them a couple months ago, haven't traveled internationally this year)

Originally Posted by Tanning machine

It's not, and I'd say that Cap One's customer service leaves a lot to be desired. But it's worth having a CapOne card for international travel.

A lot of CC cos. made efforts to close accounts and reduce credit limits over the last couple of years because they realized they were massively overexposed. Despite an excellent credit history and ability to pay, two accounts significantly reduced my credit line. I didn't really care because I never revolved that much in a month, but it showed what they were doing.

I agree......Capital One customer service is bad. Credit card meanwhile is good for no foreign transaction fees.

Originally Posted by AggieKnight

If you're in the market for a new CC (since your Cap1 is closed), I think Platinum AMEX has no foreign transaction fee any more as well.
(swear I read that in an update email from them a couple months ago, haven't traveled internationally this year)

That's correct, but its annual fee is $450 (IIRC). To make that worth it alone for currency conversion means you'd need to charge about $16,667 in foreign currency, at the 2.7% rate Amex charges, or $15000 if you assume a 3% rate that many other CCs charge.

Originally Posted by AggieKnight

If you're in the market for a new CC (since your Cap1 is closed), I think Platinum AMEX has no foreign transaction fee any more as well.
(swear I read that in an update email from them a couple months ago, haven't traveled internationally this year)

This is correct, but the Amex Platinum has pretty pricey annual fee, not worth it if you're just looking to save on foreign transaction fees, unless you're planning on spending a fortune in Europe. But there are other benefits.

We used our Marriott Rewards Black Premium Chase Visa for every purchase in Europe. They dropped the foreign transaction fee at the beginning of March. The cost is $65/year and you get a free stay at a Class 5 hotel every year. We used this for our hotel in Heidelburg.

However, initially when I filled out their online form to notify them that we would be using the card in Europe, I got back a confirmation e-mail indicating that i would be charged 3% on each transaction. I responded saying that they had dropped the fee so why was I going to be charged? I received another reply insisting that I "wasn't eligible", so I called CS and got the same runaround. I followed up with an e-mail to the Chase PR person who had issued the press release announcing the elimination of the fees and she responded promptly and said that she would follow up. In the meantime I found the flyer that we received in the mail and also an e-mail that had been sent back in March. I called CS again and finally got someone who had a clue. I was assured that I would not be charged and insisted that they note this on my account. I e-mailed the PR person again and told her not to bother following up as I had gotten my confirmation and she again responded promptly that she was happy that this was resolved. I replied to the CS by e-mail that had insisted that I "wasn't eligible" and was assured that they had made a mistake and they apologized. Chase apparently doesn't get the word out to their employees very well about policy changes.

Yeah I stopped dealing with Capital One when I could reach NOBODY who spoke english.

I use the Cap One 1% money-back card when I go international, or when some place doesn't take my 2% cash back Fidelity Amex card.

I am just a cheap, old, SOB.

Another alternative is British Airways Chase issued VISA card. Annual fee is $95, no foreign transaction fee, and you get 25K bonus BA miles with first use of a card.Additional 25K miles bonus if charge $2500 within first 4 months of opening account

Chase Continental Airlines Presidential Master Card has no foreign transaction fee. Their customer service is probably second to none. I don't remember ever wait over 1 minute on the phone for a representative.

Originally Posted by dha510

Another alternative is British Airways Chase issued VISA card. Annual fee is $95, no foreign transaction fee, and you get 25K bonus BA miles with first use of a card.Additional 25K miles bonus if charge $2500 within first 4 months of opening account

If you Google around you can find older promotions for the BA Chase card that offers 50,000 miles on first use and another 50,000 with $2500 usage in 4 months.

They "look like" they have expired, but my son and I both got the 100K miles.

They also offer a free (pay taxes ) companion ticket if you spend $30,000 in a calendar year.
It is good for 2 years and can be used in the same class as you book, even if you book with BA Miles!!!

Wife and I did Business Class on recent ED using BA Miles

In addition to the no FOREX fees, if you fly a lot, the Plat AMEX might still be a good deal even @ $450. I will be getting one when my Admirals Club (American) and Sky Club (Delta) memberships expire since the AMEX gets you in free.

They also have some other travel bennies like reimbursement of up to $200 in Airline Fees (Bags, etc) and fast track immigration processing when coming back to the states.

Until then I will continue to use my Cap One card for overseas charge.

Cheers

Originally Posted by Erregend

If you Google around you can find older promotions for the BA Chase card that offers 50,000 miles on first use and another 50,000 with $2500 usage in 4 months.

They "look like" they have expired, but my son and I both got the 100K miles.

They also offer a free (pay taxes ) companion ticket if you spend $30,000 in a calendar year.
It is good for 2 years and can be used in the same class as you book, even if you book with BA Miles!!!

Wife and I did Business Class on recent ED using BA Miles

I am kicking myself for missing the 100K promo. If it comes back around, I'll jump on it.
The only downside to using BA miles is their super high taxes. I try to fly on other OneWorld alliance carriers if possible and avoid BA

Originally Posted by dha510

The only downside to using BA miles is their super high taxes. I try to fly on other OneWorld alliance carriers if possible and avoid BA

AFAIK, BA pays the same taxes as others flying out of the UK but they do tend to add on a ton more for fuel surcharges.

Cheers

Our Nordstrom VISA card charges 1% foreign exchange fee, and has no annual fees. That's less than the usual 2-3% fees on other cards, and is the card we use when traveling.

Originally Posted by X3 Skier

They also have some other travel bennies like reimbursement of up to $200 in Airline Fees (Bags, etc) and fast track immigration processing when coming back to the states.

On this point, to be clear, all Amex does is refund/credit the $100 fee for applying to Global Entry. It doesn't guarantee you're in the program.

Originally Posted by dha510

I am kicking myself for missing the 100K promo. If it comes back around, I'll jump on it.
The only downside to using BA miles is their super high taxes. I try to fly on other OneWorld alliance carriers if possible and avoid BA

Rumor has it that after you apply for the 50K card, you can call BA customer support and ask for the 100K deal and often(?) get it. YMMV.

The deal I used a year+ ago was expired for over 6 months when I applied.

I have been using the Capital One credit card when I travel overseas and will continue to use it in the future unless they start charging fees for foreign currency transactions. Maybe I've been lucky, but my experience with their customer service has been quite good so far. I make it a point to inform them whenever I travel abroad so that they know that they can expect to see foreign currency transactions on my account.