Go Back  FlyerTalk Forums > Miles&Points > Credit, Debit and Prepaid Card Programs > American Express | Membership Rewards
Reload this Page >

(UK Amex) Why are Foreign Transaction Fees still a thing?

(UK Amex) Why are Foreign Transaction Fees still a thing?

Old Dec 5, 19, 3:28 am
  #1  
Original Poster
 
Join Date: Jun 2012
Location: Scotland, Spain
Programs: Skywards Gold, Amex Plat
Posts: 644
(UK Amex) Why are Foreign Transaction Fees still a thing?

It seems like card holders over the pond have the majority of their cards with 0% transactions fees. I would use my Amex a hell of a lot more if we had the same benefit in the UK but alas, we don't. (And the 3% null and voids any value of the membership point).

With larger competition of 0%FX cards in the market, will there ever be an end to the 3% charge with Amex?
marconess is offline  
Old Dec 5, 19, 6:07 am
  #2  
 
Join Date: Apr 2006
Location: London
Programs: BA Gold, Hertz pres circle, SPG Gold, hilton diamond
Posts: 2,442
I fully agree, I've been mulling cancelling platinum over this myself, a travel card with 3% is nasty

I would think that its also that a lot of americans dont travel overseas, so its a nice 'extra perk' that never gets used.

One thing I havent checked is how good the rate is on 0% amex cards. Sure they dont charge a 3% fee, but if they give a horrific rate it could be just as bad
aceman is offline  
Old Dec 5, 19, 8:52 am
  #3  
mia
FlyerTalk Evangelist, Moderator: American Express, Citi, Diners Club, Signatures
 
Join Date: Jun 2003
Location: Miami & London
Programs: AA & Marriott Perpetual Platinum; HH Gold
Posts: 39,754
American Express offers in other markets are irrelevant. What UK-issued cards offer no foreign transaction fees -and- compelling rewards?
paperwastage likes this.
mia is online now  
Old Dec 5, 19, 10:40 am
  #4  
FlyerTalk Evangelist
IHG Contributor BadgeMarriott Contributor Badge
 
Join Date: Aug 2001
Location: SEA
Programs: Delta - Silver; UA - Silver; HHonors - Diamond; IHG - Spire Ambassador; Marriott Bonvoy - Titanium
Posts: 13,536
Originally Posted by aceman View Post
I fully agree, I've been mulling cancelling platinum over this myself, a travel card with 3% is nasty

I would think that its also that a lot of americans dont travel overseas, so its a nice 'extra perk' that never gets used.

One thing I havent checked is how good the rate is on 0% amex cards. Sure they dont charge a 3% fee, but if they give a horrific rate it could be just as bad
Just for the record, I think you're equating travel patterns for Americans as a whole, with those who hold Platinum cards.
Points Scrounger is offline  
Old Dec 5, 19, 12:40 pm
  #5  
 
Join Date: Jun 2012
Posts: 1,836
Originally Posted by mia View Post
American Express offers in other markets are irrelevant. What UK-issued cards offer no foreign transaction fees -and- compelling rewards?
This

I believe amex UK play had trip delay insurance, which is missing in the USA version (until Jan 2020 when it gets added)

Uk doesn't have any good no fx fee + good rewards card

Each country is different. Heck, there are some countries with credit card that offer more points on foreign spend versus domestic spend (no fx fee).
paperwastage is online now  
Old Dec 5, 19, 1:03 pm
  #6  
Original Poster
 
Join Date: Jun 2012
Location: Scotland, Spain
Programs: Skywards Gold, Amex Plat
Posts: 644
Originally Posted by mia View Post
American Express offers in other markets are irrelevant. What UK-issued cards offer no foreign transaction fees -and- compelling rewards?
Literally any rewards visa or MasterCard with Curve will allow you to spend abroad with 0% FX and still get the rewards. I get your point though, the UK market doesn't need it. But once the whole Monzo etc card calms down and 0% becomes the norm, people will start to look for other benefits.
marconess is offline  
Old Dec 5, 19, 10:33 pm
  #7  
 
Join Date: Mar 2010
Programs: OZ, DL, AS, BA, Marriott, Hilton, IHG, Hyatt
Posts: 3,519
Originally Posted by paperwastage View Post
This

I believe amex UK play had trip delay insurance, which is missing in the USA version (until Jan 2020 when it gets added)

Uk doesn't have any good no fx fee + good rewards card

Each country is different. Heck, there are some countries with credit card that offer more points on foreign spend versus domestic spend (no fx fee).
Yea, I'm thinking Singapore and Malaysia.
lsquare is offline  
Old Dec 7, 19, 9:21 am
  #8  
 
Join Date: Oct 2019
Posts: 13
For anything outside the UK I just use my Curve with virgin money+ card inside. For flights I use my US Amex.
lxitixl is offline  
Old Dec 7, 19, 9:59 pm
  #9  
 
Join Date: Jun 2011
Location: United Kingdom
Programs: Skywards Blue :-(, HHonors Gold, SPG Gold, GHA Platinum
Posts: 2,365
Originally Posted by mia View Post
American Express offers in other markets are irrelevant. What UK-issued cards offer no foreign transaction fees -and- compelling rewards?
When MBNA/EK decided to withdraw the AMEX/VISA cards from the UK market they sent me the MBNA VISA horizon card.
No annual fee
0.5% cashback on spend even overseas (this more than covers the 0.3% interchange fees for overseas transactions)
No forex fees.

In fact I have left it as my default card for UBER and have used it in 8 countries and the exchange rate is brilliant.

The only problem is that I do not know whether they have started offering it to new customers yet.

Last edited by ukdoctor; Dec 7, 19 at 10:21 pm
ukdoctor is offline  
Old Dec 8, 19, 8:36 am
  #10  
 
Join Date: Dec 2014
Programs: NZ*Elite *G, QF*G, SPG*Platinum, Accor*Platinum, Hilton*Gold
Posts: 996
I find Europeans in general (including those living in UK) are incredibly savvy and knowledgeable in avoiding transaction fees and they have multiple sources to transact in EU / CHF / USD etc. And there are others who don't even realise this is possible or don't care enough to actually take action
dadig is offline  

Thread Tools
Search this Thread
Search Engine: