For Foreign Travel, Look For Credit Card That Doesn’t Charge Exchange Fees

by Categorized: Credit Cards Date:

The Bottom Line was prepared for his recent vacation to Aruba, where he was voted “whitest man on the beach.” (Thanks, Consumer Reports, for recommending No-Ad sunscreen lotion.) TBL also did some research before the trip on using a credit card that does not charge currency exchange fees that typically cost between 2 percent and 3 percent of each transaction. How to find one? Call up each of your credit-card companies and ask if your card charges fees in foreign countries. Turns out I had one. I used it exclusively on the trip.
If you don’t have a no-fees card, find one. CardHub.com’s 2013 Currency Exchange Study, released this week, compares currency exchange costs at 15 of the largest banks in the U.S. and Visa, MasterCard and Travelex (the world’s largest airport currency exchange operator).
You’ll find the study here.
And here’s CardHub.com’s list of the year’s best travel credit cards.

The Courant is using Facebook comments on stories. To comment on courant.com articles, sign into Facebook and enter your comment in the field below. Comments will appear in your Facebook News Feed unless you choose otherwise. To report spam or abuse, click the X next to the comment. For guidelines on commenting, click here.