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 1.52%.
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.
The Capital One foreign transaction fee is $0 on all of its cards. This means you won’t be charged extra on transactions processed outside of the United States, whether it’s a purchase at a physical location in a foreign country, or an online transaction through an internationally-based merchant. That goes for every single Capital One credit card, from travel rewards cards to cash back cards.… read full answer
Good Capital One Credit Cards for International Purchases
Even though Capital One credit card foreign transaction fees are $0, 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 exchange much higher than the actual going rate. So, make sure you pay in the local currency and refuse DCC at the point of sale, whenever a foreign merchant offers it.
As long as you avoid DCC, you won’t have to worry about extra charges when using a Capital One credit card abroad, or online with international merchants, thanks to your $0 Capital One foreign transaction fee.
The best way to avoid foreign transaction fees is to use a debit or credit card that waives such fees while traveling abroad. About 25% of the available credit card offers on the market don’t charge foreign transaction fees. Plus, those cards are available to people of all credit levels, so there’s really no reason to pay the extra charge when you travel abroad.… read full answer
1. Get a credit card with no foreign transaction fee.
Foreign transaction fees are charged by credit card companies and the surcharge could add as much as 4% to purchases made outside the U.S. These fees also apply to online purchases processed through international merchants. If a card charges a foreign transaction fee, it will be listed in the card’s terms and conditions.
The 10 largest credit card companies all offer at least some cards without foreign transaction fees. Plus, some issuers don’t charge these fees on any of their credit cards. Using credit cards with no foreign fees rather than cash is also a convenient, inexpensive way to avoid having to convert physical currency while traveling abroad.
2. Understand that foreign fees can be an issue even when you’re not traveling.
You don’t have to be in another country to get hit with a foreign transaction fee. If you do business online or by phone through a merchant based outside of the U.S., make sure you pay for your purchase with a no foreign fee credit card to sidestep the surcharge. If you use a card with a foreign fee, you’ll be charged this fee on top of your transaction, the same as you would if you had made the purchase at a physical location abroad.
3. Have a no foreign fee debit card handy.
You may not be able to use credit cards for all your purchases abroad, so having a debit card will allow you to get cash in the local currency when you need it. Many debit cards also charge foreign transaction fees, though. So, make sure to bring a Visa or Mastercard debit card with no foreign fee when you head out of the country.
4. Avoid converting currency at airport kiosks.
Converting your cash at an airport kiosk outside of the U.S. may be convenient, but that convenience will cost you. Currency conversions at airport-based exchange stations come with extraordinarily high fees and less-than-favorable exchange rates.
Instead, use a no foreign transaction fee credit card for most of your purchases, and a no foreign fee debit card to withdraw physical currency. These options are very convenient, and each allows you to take advantage of low Visa and Mastercard currency conversion rates automatically.
5. Do not accept offers for dynamic currency conversion.
Dynamic currency conversion (DCC) is a practice in which foreign merchants may offer to charge your purchase in U.S. dollars instead of the local currency. You should never accept these offers because if the merchant converts your payment for you, they may set their own high exchange rate to increase their profits.
With that, you know the basics of how to avoid unnecessary costs when spending money internationally. If you already have a credit card that charges foreign transaction fees, there’s not much you can do to avoid them, except for not using the card abroad. Consider applying for a travel credit card with good ongoing rewards and no foreign transaction fees, instead. There are plenty of options to choose from.
The Capital One QuicksilverOne foreign transaction fee is $0. This means you will not be charged extra when you make purchases outside the U.S. or online through an international merchant.
Foreign transaction fees on credit cards range from 0% to 3%, depending on the card and issuer. Capital One does not charge foreign transaction fees on any of its personal or business credit cards.… read full answer
Other Capital One QuicksilverOne Features:
The $0 foreign transaction fee is just one of the features that make Capital One QuicksilverOne a worthwhile rewards card. It offers 5% cash back on hotel and rental cars booked through Capital One Travel, as well as 1.5% cash back on all other purchases, and it comes with a $39 annual fee.
In addition, it is available even to people with limited credit. Capital One QuicksilverOne is on the Mastercard network, which means you’ll also benefit from wide-ranging international acceptance, too.
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