How do I know if my card charges international fees?

How to Determine International Transaction Fees on Your Credit Card

International transactions often come with additional fees, but the specific charges vary depending on the credit card you use. To ensure you’re aware of any potential fees, it’s crucial to understand your card’s terms and conditions.

Step-by-Step Guide to Finding International Transaction Fees:

1. Locate the Terms and Conditions: Retrieve your credit card’s terms and conditions document, which you may have received during setup or can find online.

2. Identify the Fees Section: Within the terms and conditions, look for a dedicated section labeled “Fees” or “Transaction Charges.”

3. Check for International Transaction Fees: Review the fees section for any mention of international transactions. It will typically specify the percentage or fixed amount charged for foreign purchases.

4. Note any Additional Fees: Some cards may charge additional fees beyond the standard international transaction fee. These could include currency conversion fees or ATM withdrawal fees.

5. Consider Foreign Currency Conversion: Even if your card doesn’t charge an international transaction fee, you may incur a currency conversion fee when using it abroad. This fee is typically charged by the merchant or payment processor.

Example:

Suppose you have a credit card with an international transaction fee of 3%. If you make a purchase worth $100 abroad, the additional fee would be $3.

Tips for Avoiding International Transaction Fees:

• Use a credit card that offers no foreign transaction fees.
• Consider exchanging currency before traveling to avoid currency conversion fees.
• Use ATMs affiliated with your bank to avoid ATM withdrawal fees.
• Inform your credit card issuer about your travel plans to avoid fraud alerts and potential transaction declines.

By understanding your credit card’s international transaction fees, you can plan accordingly and avoid unpleasant surprises during your travels. Remember to regularly review your terms and conditions to stay informed of any changes.