Your MBNA cards will charge a 3% Foreign Conversion Fee starting July 1. If you haven't gotten the packet of information itemizing these future changes, you will be shortly.

My credit union credit and debit cards only have the 1% Visa charge for foreign use. My US HSBC ATM card only has a 1% charge when used at HSBC ATMs abroad. I have verified these against claims with actual transactions against the interbank rates.

You can find cheaper currency conversion, you just have to look for it.

Not all MBNA cards are adopting the new foreign currency fees. Most are, but a handful are apparently staying at 1%. Check MilesBuzz for details.

I've got two CitiBank cards; one issued by Sears (Gold) and the other is an ATT Universal card (Plat). I called customer service for the Sears card, and was told that there is currently NO currency conversion fee . . . but that there will be a 3% charge starting in June.

The ATT card's customer service claims that there is a 3% currency conversion charge in effect now.

I'm vacationing in the UK for the last two weeks of May, so guess which card I'm using . . .

Yeah, but I think that the rest of them will start changing to 3% soon. I just got a notice on mine this week.

I wonder what suddenly made every card in the US start charging 3%...

What is the link? I couldn't find it on first glance. Thanks.

I don't doubt that eventually all MBNA cards will carry the 3% foreign surcharge, but I was told by an MBNA CSR last night that the surcharge is being implemented on an account-based level. Not sure if she was correct (she sounded like she knew what she was talking about after promptly answering a couple of questions I fired at her correctly--I knew the answers to those questions before I asked because I wanted to test her knowledge of the policy), she told me my account was one of the few not affected by the new surcharge. In fact, she said this new surcharge is a test to see how the market responds. I think if enough affected customers call in to cancel their cards or stop using their cards overseas because of the surcharge, MBNA may back off of this experiment. Quite honestly, the only reason I use my MBNA card is because of its no additional overseas surcharge. If that benefit goes away, so goes my business with MBNA.

LAX

Travelers checks bought with a AAA MBNA credit card are processed as a purchase rather than as a cash advance but you don't earn any miles.

When I'm abroad, I usually find the nearest Citibank ATM and take out as much cash as I need - no fees anywhere in the world as a Citibank customer; good exchange rate; no hassle; no miles (but hey, they're probably worth less than 2% anyway)

"Why bother with a card at all?" Outside the U.S.? For the same reason that people use them in the U.S.

Welcome to Flyertalk, mblevin.

That's a good idea... I need to start doing that

Look here. The link goes to the last page of the thread (as of this writing) but click back a few pages on that thread to find out more about the specific MBNA cards not charging 3%.

I'd say to be on the safe side, however, try a card from Capital One, Household Bank, or a credit union to avoid the risk of MBNA switching terms on you. (Patelco is a good choice for a 1%-foreign-exchange credit union Visa card if by some chance you don't qualify for membership in another credit union.)

I guess it's okay if you are only going for its credit card, but for those who are thinking about its banking products, watch out for those fineprints at the bottom of its website:

"Patelco Credit Union is privately insured by American Share Insurance up to $250,000 per account.
This institution is not federally insured, and if the institution fails, the federal government does not guarantee that depositors will get back their money.
Accounts with this institution are not insured by any state government."

Not sure what that means, but do pay attention to all fineprints!!

LAX

just found out that my BMW Visa only charges the 1% Visa fee
the card is a freebie, and earns points toward BMW buy/lease
added reward options if you pay $50/year

http://fs.bmwusa.com/BMWFSPulp/CRCAR...rdBenefits.htm