The February issue of Conde Naste Traveler (the issue is not available on line as yet) has a good reference chart comparing the different bank cards. They even give FT a salute! "The excellent online forum FlyerTalk.com has a thread called "Best Card for Foreign Exchange?" which discusses cash-back cards that allow you to net a profit on purchases abroad. One traveler recommends the MBNA Fidelity Investment Rewards MasterCard: The 1.5 percent cash rebate -- minus the one percent currency-conversion fee -- equals a 0.5 percent profit."

I have the CostCo Amex card which gives a 3% rebate on restaurants and 2% on travel. Those make up the majority of my foreign travel purchases. So on hotels, car rental, etc. I break even (Amex has a 2% vig). On meals I come out ahead by 1%.