The Capital One credit card exchange rate is the Visa or Mastercard exchange rate on the date a purchase is made, depending on the Capital One credit card. While credit card currency exchange costs normally include foreign transaction fees, too, none of Capital One’s credit cards have these fees. As a result, Capital One credit cards will save cardholders around 1.44% on purchases with international merchants, compared to the average credit card offer.
Visa and Mastercard publish their exchange rates daily, while Discover and American Express don’t publish them at all. Some reports say that Mastercard tends to offer marginally better exchange rates than the others, but with so much volatility in the rates, this isn’t always the case.
Yes, all Capital One cards have no foreign transaction fees. Capital One is one of several top credit card issuers that don’t charge foreign fees on any of their credit cards, along with Discover, HSBC, USAA, and PenFed. But most credit cards overall still have them. The average foreign transaction fee is about 1.44%.… read full answer
Credit cards consistently give the best foreign currency exchange rates. So not having to worry about paying an extra 1-3% on every purchase while abroad is a great perk shared by all the Capital One cards.
A credit card conversion fee, more commonly called a foreign transaction fee, is an extra charge by your credit card issuer for processing a transaction with a foreign merchant. It’s usually 1%-3% of what you spend. And while most credit cards do charge a conversion fee, there are a lot of great options that don’t. If you’re planning to travel abroad, it’s a good idea to get a “… read full answerno foreign transaction fee credit card” in order to avoid an extra charge for paying by card at a foreign merchant.
Here are some of the best credit cards with no conversion fee:
The Chase Sapphire Preferred offers 60,000 bonus points for spending $4,000 in the first 3 months. Plus, you can earn 5 points per $1 spent on travel purchased through Chase, 2 points per $1 on all other travel purchases, 3 points per $1 on dining and online grocery purchases, 3 points per $1 on select streaming services, and 1 point per $1 on all other purchases. The card has a $95 annual fee. It requires at least good credit.
The Citi Premier offers 80,000 points for spending $4,000 in the first 3 months. Plus, you can earn 3 points per $1 spent at restaurants, supermarkets and gas stations, 3 points per $1 on air travel and hotels, and 1 point per $1 on all other purchases. The card has an annual fee of $95. It requires at least good credit.
The Bank of America Travel Rewards for Students offers 25,000 points for spending $1,000 in the first 90 days. In addition, you can earn 3 points per $1 spent on purchases at the Bank of America Travel Center and 1.5 points per $1 spent on all other purchases. The card has a $0 annual fee. You can get approved with limited or no credit.
The Capital One Platinum Secured is one of the few secured cards that can be partially secured, giving you a credit line larger than your security deposit: deposit of $49, $99 or $200 for a $200 spending limit.It has a $0 annual fee. You can get approved with bad credit.
There are some large issuers (such as Capital One), that don’t charge conversion fees on any of their credit cards. So, a card like the Capital One Venture Rewards Credit Card is a great choice as well.
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