The insert in my July VISA (United -First USA) states that effective the first day of the billing cycle that includes Sept 1, 2003 (which could technically begin in mid August?) the foreign currency transaction costs will change.

"Transactions in Foreign Currencies. Visa and Mastercard convert transactions in foreign currencies into U.S. Dollars and add 1% to the amount. We now will add an additional 2% to the amount Visa or MasterCard provides to us."

Suffice it to say, this is one card staying "at home" from now on.