Be Aware of Foreign Transaction Fees

Overseas Credit CardBefore traveling overseas with your credit card you should definitely call your credit card company for 2 important reasons:

The first reason is that  most credit card companies are going to assess you a 3% fee on all the transactions that you incur while using your credit card abroad. For example, if you end charging $1,000 on your credit card, it is very likely that the credit card company will charge you $30 in fees (i.e. 3% of $1,000).
Our advice is that you call your credit card company and find out their policy around ‘foreign transaction fees’. There are definitely some credit card companies (Capital One being one of them) that do not charge this fee, so it pays to make a couple of phone calls to see if one of the cards in your wallet do not have the 3% fee.

The second reason, is that credit card companies are very suspicious of transactions that happen overseas since they are concerned that they might be fraudulent. Therefore, it is important that you also call your credit card company to notify them about your travel plans so that they do not decline any of your transactions while you are traveling.
Getting a credit card purchase declined while being outside the USA can be extremely inconvenient!

If you want a credit card that does NOT assess foreign transaction fees you can take a look at our list of no foreign transaction fees credit cards.

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