Not at all: options 8 and 9 are open to all who are willing to join an association for a year. http://PenFed.org/JoinUs

(Navy Federal has restrictive membership, but not Pentagon Federal.)

Not that it matters as Navy Fed never offers a competitive rewards product.

Interesting forex rates from BofA earlier this month:

AUS $100 withdrawn at WestPac (Global ATM network) converts to $101.32, better ^ than Oanda quote of $102.82 for posting date (rate was similar for days before/after).

AUS $40 withdrawn at Westpac converted to UA $40.12, again better ^ than Oanda quote of $40.50.

However July withdrawal of UK 50 at Barclays (Global ATM network) converted to US $80.59, approx. 1% worse than Oanda.

Can't really complain as the spread between buy/sell at Sydney Airport was 8% :eek: And no ATM fees at Global ATM network. :cool:

Addendum: Citibank still charging 3% forex at its own ATMs :mad:

I was in Canada over New Years and used both my SPG Amex and my British Airways Visa. I paid $168.00 CAD at the Westin with my SPG Amex. My converted cost was $165.19 + $4.46 foreign transaction fee for a total of $169.65 USD. If I used the exchange rate I was charged for the same date on my no fee BA Visa, the same charge would have cost me $165.28 USD. The difference would have been $4.37 or roughly the amount of the foreign transaction fee.

This little comparison would suggest that the no fee BA Visa isn't making up the difference by charging a less favorable exchange rate.

Right, because padding the rate would be illegal.

Actually #6 is your best option, but you have to call and let them know you have donated blood in the past.

Easy. CIBC Dividend Card hands down. Had the card for almost 20 years. Used it all over the world. Never paid a cent in forex fees. Plus 1% back on all purchases. Get it and love it!

Is that card available in the US? Also, it looks like there's a 2.5% forex fee on new accounts, so maybe yours is grandfathered?

Must be. Its a CAD card, but my sons both have gotten the card while living in the US.

Wait, what changed with Schwab?

Old Schwab Invest First Visa accounts that are were converted to Bank Americards were grandfathered without any foreign transaction fee. The same Bank Americard product if opened as a new account directly with BOA would have the 3% FTF (as do the vast majority of BOA credit card products).

I have the BOA (formerly Schwab) card. To date, no FTF charged by BOA. Does anyone know of plans to begin charging FTF in the near future or is this benefit safe for the time being?

I don't think anybody will know until they send us a letter saying it's changing. Could be tomorrow, could be next year, or it could never happen. But I believe that by law they're required to disclose it in advance of changing the terms at which point you can opt to cancel your account if you don't want to accept the new terms.

Thank you

I didn't realize this was true. Thanks for the heads up, although now that I have the Cap1 cash rewards card with 1.5% cash back, it'll only tag along as a backup, but good to know!