Currency conversion fees... Credit Union VISA?
 

I have a Platinum VISA issued by my Credit Union. Do these cards typically charge the 3% currency conversion fee that the big banks charge? I am trying to find an appropriate card to switch my foreign purchases to.

Uh ...have you considered actually reading the T&Cs of your account? Or contacting the issuer of your card to ask? Your particular unnamed Credit Union Visa account of unspecified type isn't governed by what's "typical", it's governed by the T&Cs they sent you.

Yes, I'm planning to call tomorrow. I haven't used the card much, since I've been putting all foreign transactions on my MBNA amtrak card, but now that the fees are going up across the board on all the big banks....I feel that it is time to find out what the foreign conversion fees. I was just wanting to know whether, in general, credit unions (and smaller banks) charge the same 3% fees for currency conversions that the big banks all seem to do now? Has anyone had experience with this? or with other credit unions?

Called my credit union, and it is 1% fee.

My credit union Visa & MC both have a 1% currency conversion fee. I just received notice that it will be shown as a separate line item starting in May.

Credit union credit cards usually dont charge 3%, usually 1%

good to know that I can still get a 1% conversion fee. I refuse to pay the new 3% fees. Just means I won't get miles while traveling abroad.

You can get Capital One miles. Or MBNA Merrill + miles for 0%.

Has anyone recently confirmed that CapOne is not increasing their FX fees?

I just called Capital One twice and each phone agent said no foreign currency fees, so I'm applying for a CapOne Go Cash card. My only intended use for the CapOne card is vacations in other countries.

MBNA said 3%, Citibank is 3% and Amex is 2%. I'm a big fan of AA miles on Citibank, but not at 3 cents/mile.

In the past, Visa and Mastercard had the 1% currency conversion fee built into the exchange rate. Now, there is no 1% conversion fee built in so Visa and Mastercard will levy a 1% fee. Capital One has to pass that on or else eat the fee. I suspect the phone agents have been updated on the latest changes. Good luck on your application.

S

VISA and MC are no longer levying that 1% fee at all, so Capital One will essentially be 0%. VISA and MC may decide to pick less competitive exchange rates to make up some of the 1% loss, but that cannot be avoided.

Any reason to think the Visa or MC exchange rates will be any worse than Citi or Chase ATM rates?