Originally Posted by wahooflyer
But if you and/or your wife travel abroad with any frequency, the card will be very useful. It's issued by Household Bank (HSBC) which is one of the few banks that still charges only a 1% foreign exchange fee. Most of the major card issuers assess a 3% fee for all purchases made in another currency, so you can save a considerable amount by using the GM card when you go out of the country.
I received a change-of-terms notice in the mail yesterday. Effective on the first day of the billing cycle ending on or after November 1, 2005, there will be a foreign transaction fee finance charge of three percent.