Yes, the Bank of America® Platinum Plus® Visa® Card does have a foreign transaction fee of 3%. Remember that the foreign transaction fee is in play both when you’re traveling abroad and when you’re making online purchases from internationally based merchants. If prices on a website are quoted in a foreign currency, that’s a good indication you are looking at an international merchant.
Here’s how you can get a Bank of America credit limit increase:
If you're unsatisfied with your initial Bank of America credit card limit, you may get a higher one later on. Bank of America periodically reviews accounts for an automatic credit limit increase. These reviews typically occur after you've had the card for at least six months. Automatic increases are not guaranteed, however. How much of an increase you'd receive depends on your payment history, existing debt, and other factors.
You can also request a Bank of America credit limit increase through your online account or by calling the number on the back of your card. Your chances of getting a credit limit increase will be best if you've paid your credit card bills on time and in full during the last six months. It's also a good idea to update your income information, especially if it has increased since you first received your card. When you request a credit limit increase, Bank of America will pull a copy of your credit report. This will trigger a soft inquiry and won't affect your score.
A foreign transaction fee is a surcharge, usually between 0%-3%, added to transactions processed outside of the United States. The transaction doesn’t need to be made on foreign soil in order for the fee to apply. Online purchases stateside through an internationally-based merchant also incur a fee.
Both the Bank of America Travel Rewards for Students and the Business Advantage Travel Rewards World Mastercard® Credit Card offer 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center, and all three cards with “Travel Rewards” in their name give 1.5 points / $1 on all other purchases.
The Bank of America Cash Rewards credit card foreign transaction fee is 3%. This card's foreign transaction fee can apply whether you travel to another country or you go shopping internationally through your computer.
Bank of America Cash Rewards foreign transaction fee info:
Bank of America Cash Rewards credit card foreign transaction fee: 3% of any purchase from a foreign-based merchant.
When you owe the foreign transaction fee: In-person and online purchases processed internationally.
Bank of America Cash Rewards credit card vs. other BofA cards: Nearly 10 Bank of America credit cards have a 3% foreign transaction fee. All other BofA credit cards, including the Bank of America Travel Rewards credit card and the Bank of America Premium Rewards credit card, have 0% foreign transaction fees.
The Bank of America Cash Rewards credit card foreign transaction fee isn’t the only fee you have to worry about with this card. If you take out a cash advance, you will owe $10 or up to 5% of the transaction amount, whichever is greater. Late payments will cost you up to $40 extra. And if you transfer a balance to the card, you’ll pay a fee equal to 3% (min $10) of the amount. Fortunately, the Bank of America Cash Rewards credit card has a $0 annual fee.
One of the best cash back credit cards with $0 foreign transaction fees is the Capital One Quicksilver Cash Rewards Credit Card, which gives a $200 bonus when you spend $500 in the first 3 months, plus 1.5% cash back on all purchases. Discover it® Cash Back is another good choice, offering 1 - 5% cash back on purchases and matching all the rewards you earn the first year. Discover and Capital One don’t have foreign transaction fees on any of their cards.
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