Maria Adams, Credit Cards Moderator
@m_adams
The Barclays credit card exchange rate is the exchange rate quoted by Visa or Mastercard, plus a foreign transaction fee between 0% and 3%. The network’s exchange rate will vary based on the date of the purchase, and the card network that’s used will depend on which Barclays credit card you have. The foreign transaction fee will also vary by card.
Visa and Mastercard publish their exchange rates daily, while the other 2 major credit card networks don’t publish them at all. Mastercard reportedly tends to offer marginally better exchange rates than the other card networks, but with so much volatility in the rates, this isn’t always the case. Still, the differences in these exchange rates are negligible and shouldn’t be a factor in which Barclays card you carry.
When making purchases abroad or from internationally-based merchants, you should always use a credit card with no foreign transaction fee. As long as you get a card with no foreign transaction fee and avoid dynamic currency conversion, the exchange rates you’ll pay on international spending with a credit card will be much lower than those you’d get converting cash through banks, credit unions, or airport currency exchange kiosks.
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People also ask
How much is the Barclays foreign transaction fee?
The Barclays Bank US foreign transaction fee is 0% to 3%, depending on the specific credit card. A foreign transaction fee is a surcharge that some credit cards add to transactions processed outside of the United States. The fee applies whether you’re physically in a foreign country making a purchase or buying something online through an internationally-based merchant.
Barclays Bank US Foreign Transaction Fees:
- Lufthansa Credit Card: 0%
- NFL Extra Points Credit Card: 3%
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How do I avoid foreign transaction fees?
The best way to avoid foreign transaction fees is to use a debit or credit card that waives foreign fees when you're traveling abroad or making online purchases from international retailers. About 25% of credit card offers don't have foreign transaction fees, so there’s no reason to pay the extra charge.
How to avoid foreign transaction fees
- Get a credit card with no foreign transaction fee
- Understand that foreign fees can...
What do I need to know before using my credit card abroad?
Taking the following credit-card precautions will help you save money and avoid unnecessary hassle while using your credit card abroad.
- Get a no foreign transaction fee credit card. Do this before booking flights, hotels, etc. Foreign transaction fees will be assessed on any purchase made through a foreign merchant, even before you leave the U.S.
- Call your credit card company. Most credit card companies require you to notify them of international travel plans. If...
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