Received email with several changes to interest rate, late fees and so on but the one change that caught my eye was the rise in ForEX starting Nov 30, 2009.

Time to get a Schwab card I guess....

3. Foreign Transaction Fee. Effective November 30, 2009, Pentagon Federal is increasing the foreign transaction fee to 2% of the U.S. dollar amount of the transaction whether originally made in U.S. dollars or converted from a foreign currency.

and the finer print

Foreign Transactions. The section will be revised to read:

"Purchases and cash advances made in foreign currencies will be debited from your account in U.S. dollars. The exchange rate between the transaction currency and the billing currency used for processing international transactions is either a wholesale market rate or the government mandated rate in effect one day prior to the date processed plus an international transaction fee equal to 2% of the transaction whether originally made in U.S. dollars or converted from a foreign currency."

Do you have questions regarding these changes? Please call us at 800-247-5626.