Originally Posted by sy7

AMEX hasn't changed their 2% forex fee. However, some people have reported that they have gotten bad exchange rates using AMEX, though I haven't had that experience. I think this was the subject of a class action lawsuit (my friend got a whopping $0.23 check as part of the settlement!).

In terms of a direct mileage earning card, I don't know of any that only charges the 1% fee. MBNA Amtrak came the closest, but apparently they are now charging 3%. I think the current best card is the Capitol One Visa that gives you 1% cash back. I like this better than a "rewards" card because cash is a lot easier to use vs accumulating points especially when it isn't your primary card. However, I think you need to be targeted to get the cash back card with no annual fee.