In my quest for an international card with NO foreign transaction fees and NO annual fee and a decent rewards program, I am all but settled on Capital One Cash Rewards cards.

My questions are:
1) Is Capital One going to give me decent exchange rates or are they just hiding the transaction fee in the exchange rate?

2) Any other cards that I should look at?

3) It seems like this card is good for Chip/Pin? Anything else I should I know (for use in Europe)

Thanks!