More fees for overseas credit card purchases?

By now, many people are aware that there can be extra costs involved with using credit cards overseas. While the specifics can vary widely from card to card, one thing is becoming more commonplace: issuers are increasing these types of fees.

Last year we published an article detailing credit cards and foreign transaction fees. The piece detailed what type of fees can come as a result of overseas credit card use and also exactly what type of charges to expect.

While the basics of credit card foreign transaction fees have not changed, the amount of these fees is changing in many cases. To be more specific, the amount of these fees is increasing in many cases. For example, some banks are now starting to charge new transaction fees, usually expressed in a percentage (i.e. 2% of each transaction), while others are increasing the percentage that they already charge on foreign transactions.

Be certain to check with your credit card issuer before using your card overseas. Even if you knew the terms and conditions before, those very well may have changed. Check with all of your credit cards and find out which one makes the most sense to use on your next international trip.

Recommended reading: New Fees for Card Usage Abroad