I plan on getting the Penfed Rewards card as I see that there is no Forex fee and no C/A fee on their side. I think I may have also read no minimum fincance charge. For 10% APR (till July 2014) and the fact I always pay off balances in full I'll take the 1.1% loss in conversion to Chinese RMB over published rates.

I think that is really the fee we are speaking off, just hidden into the bank who services that atm. I'm sure Atm's are all different in China and some may charge a separate fee, but so far, I've not been notified of any such atm fees over there when I attempted a C/A on two atm's over there. I'm sure there would be an equal conversion loss on a debit card as well. So I don't see much downside to this with the right credit card.

As of yet, Chase saphire has not applied any fincance charge on my for the C/a, but then again, I've not cycled yet either and brought the balance to 0 just 3 days after the C/A posted. I did have previous charges on the Saphire prior to the C/A but I made sure to get the whole balance down to zero just after the advance posted. Additionally I have new purchases now that have posted. Will be interesting to see what happens when I cycle.