Bogdan Roberts, Credit Cards Moderator
The PenFed foreign transaction fee is $0. All PenFed credit card offers have come with no foreign transaction fee since 2011. Their debit cards, on the other hand, come with an international transaction fee of up to 2% of the transaction amount.
That puts PenFed in a very small group of credit card issuers that never charge foreign transaction fees. Discover, Capital One and USAA are some of the other select few who don%t charge foreign transaction fees on any of their credit cards.
Also, all PenFed credit cards come with EMV chips, which makes them more secure and more compatible with foreign payment terminals. PenFed cards are also on the Visa network, so they%ll be accepted almost everywhere worldwide.
It%s crucial to bring a no foreign transaction fee card with you when you go abroad, as those fees can really add up. But you should also make sure to say no to Dynamic Currency Conversion. That%s when the merchant asks you to pay in U.S. dollars instead of the local currency. You don%t want that because merchant exchange rates can be up to 7% higher than the actual going rate
Argan Exsar, Member
PenFed has no foreign transaction fees.
People also ask
Did we answer your question?