Originally Posted by
wise2u
I really don't understand why this is such a huge thread...its very simple. There are only a few cards that charge no fees for foreign transactions.
Capital One is the most common....what else do you need to know? Instead of trying to figure out forex spreads, atm fees, transaction fees, exchange rates and other everchanging numbers...just put a Capital One card in your pocket, call them to make them aware of your travel plans, and buy what you want for the price listed....simple
Well I'll give you two reasons..
For purchases I'd like a card that earns a good rebate either in cash or some kind of worthwhile points/miles but incurs no forex fee. The LH card met those conditions (except that they may have changed the rules). The Schwab seems a very good alternative.
For cash, I find that ATMs transactions are sometimes fine but other times nothing but trouble (ie poor exchange rate, fees, limits to amount etc). I generally find better to do one large counter cash advance (which uses the VI system). I know the rate I'm going to get, there is no limit and if there is an issue I'm dealing with a person not a machine (it can ruin your whole trip if the ATM seizes your card for example which happens).
Again I'd say the Schwab is the best. You can use it either for counter or ATM and there is no daily limit (or at least wasn't). I carry a couple of others just in case that one doesn't go through (which has happened) but its been the most reliable.
There isn't anything wrong with the Capital One cards except I didn't think the rebates were up to what I could get with the Lufthansa.
Not that it matters anymore but once upon a time the BA card had no forex fee making it the clear winner in my book. Sadly no longer.