Credit Card Companies Doing Away with Foreign Exchange Fees
Many travelers fume at being charged an extra 3 percent or so on international purchases, so some credit card issuers are now getting rid of the fee, which is prompting others to follow suit to stay competitive. “It’s just a money maker, pure and simple. They charge it because they can,” said Brian Kelly, founder of ThePointsGuy.com, a website that focuses on maximizing credit card and travel rewards. American Express is removing foreign transaction fees all together from its Delta Sky Miles credit cards. They have been charging a rate of 2.7 percent. The new Hawaiian Airlines World Elite MasterCard is also skipping foreign transaction fees.
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The United Airlines-branded credit card from Chase got rid of foreign fees last year, which likely motivated Delta to follow suit, Kelly said. Kelly advised travelers to let their issuer know they travel internationally and will never use a card with a fee.
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