Charge cards and foreign transaction rates

[garyhaupt]

Please, if you are going to comment, read the posting first. It is about a fee that is charged in addition to Annual card fees or Exchange rates.

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In Canada almost ALL charge card companies charge a 2% foreign transaction fee. When or if you question it, they make it sound like it' a law. It's not and there is one that does NOT charge. The Amazon.ca Visa, issued by Chase, has NO foreign transaction fees.

It doesn't amount to a lot of money, unless you are spending a bundle but if you happen to be traveling to Europe or Asia, then that could be a significant dollar figure.

Were I living in the US, I would check to see if Amazon.com has a similar card.


Gary Haupt

[garyhaupt]

geeeez...maybe I was using the wrong wording. This was about a TRANSACTION fee that cc users pay in addition to any other fees associated with their CC of choice.

It is NOT about annual fees or exchange rates.

It is a 2% Foreign Transaction fee that is charged on all purchases made outside of Canada. I also said that if I were living in the US, I would check to see if my cc of choice also made those charges.



Gary Haupt

[nbking]

My poor use of words. When we get a Canadian USD credit card, we are charged in USD as per the original billing. We pay our bill in USD as well. There are no fees of any kind charged per transaction.

As mentioned on my first post, there is a $30.00 annual fee but it is waived when we spend $1,000.00 per year.

Hope this clarifies my first message.

[NHIrish]

and in CA...


What cards are available to Canadians?

Amazon.ca Rewards Card from Chase Canada

$15 off gift certificate sign up bonus
Earn rewards points and cash back with every purchase
No annual fee

Sears Financial Mastercard

$30 welcome bonus in Sears Club points
Earn Sears Club points with every purchase
No annual fee

Sears Financial Voyage Mastercard

$30 welcome bonus in Sears Club Points plus $25 worth of Sears Club points with first purchase
Earn Sears Club points with every purchase
Collision damage waiver insurance included
$39 annual fee

[NHIrish]

The lineup of no fee cards and the fees charged by others;

http://www.nerdwallet.com/blog/top-credit-cards/no-foreign-transaction-fee-credit-card/

[garyhaupt]

nbking wrote:
For travelling in the US, we went to our Canadian bank and got a US Dollar Credit Card. Charges are shown in US dollars; payment is in US Dollars. No exchange fees.

There is a $30.00 annual fee which is rebated if you spend $1000.00 per year.

Never thought about how it would work in Europe and Asia. Those areas are beyond what I would want to do at my age anyway.

My comment wasn't about exchange rates, it was about a TRANSACTION fee, which is a charge that CC companies add on to your purchases made in foreign countries.


Gary Haupt

[nbking]

For travelling in the US, we went to our Canadian bank and got a US Dollar Credit Card. Charges are shown in US dollars; payment is in US Dollars. No exchange fees.

There is a $30.00 annual fee which is rebated if you spend $1000.00 per year.

Never thought about how it would work in Europe and Asia. Those areas are beyond what I would want to do at my age anyway.

[Mandalay_Parr]

Capital One does not charge.