There is no Capital One foreign transaction fee. Or, in other words, the Capital One foreign transaction fee is 0%. That goes for every single Capital One credit card and debit card too from travel rewards cards like Venture to cash back cards like Quicksilver. Want proof? The Capital One website says: “Capital One does not charge a fee for using your credit card for foreign currency transactions.”
That means you won’t pay extra just for shopping at foreign merchants, whether you’re traveling abroad or buying things online from merchants based in other countries. Typically, a foreign transaction fee will cost you an extra 1%-3% of the purchase amount. Capital One, Discover, USAA and PenFed are the only major credit card companies that don’t charge foreign fees on any of their cards.
Even though there are no Capital One credit card foreign transaction fees, there’s still one thing you need to watch out for: Dynamic Currency Conversion (DCC). Capital One doesn’t impose this on you, but they can’t protect you from it, either, unfortunately. Dynamic currency conversion is when a merchant charges you in U.S. dollars rather than the local currency and uses an unfair exchange rate to inflate the price. You should always tell merchants to charge you in the local currency. And if you see on your receipt that they didn’t, you should ask them to void the transaction and do it over.
As long as you avoid DCC, you won’t have to worry about extra charges when using a Capital One credit card abroad, thanks to your $0 Capital One foreign transaction fee.