Originally Posted by Majuki

The issue in the US is that there are few AmEx cards that waive foreign transaction fees. The Delta Air Lines AmEx products, the Platinum Card, and the Centurion Card are the only three lines that waive the fee. Furthermore, unless you fly Delta, you're unlikely to have the affinity card. This leaves the Platinum Card - or Centurion, but I imagine if you have the Centurion you don't really care about fees anyway - but the Platinum card only earns at 1x. Other cards can be more lucrative for their category bonuses, even with overseas spending.

Now, the DCC markup would more than wipe out any category bonuses you could receive, so it's possible AmEx Platinum is the solution for those cases of unavoidable DCC. The problem is that not every place accepts AmEx, and the exchange rate can be poor compared to the Visa or MC rate.