Maria Adams, Credit Cards Moderator
@m_adams
No, there is no USAA credit card foreign transaction fee. In the past, some USAA credit cards charged a 1% foreign transaction fee, but now all USAA cards have a 0% foreign transaction fee. That means you won’t be charged extra anytime you use a USAA card outside of the United States. This applies whether it’s a purchase at a physical location in a foreign country or an online transaction through an internationally-based merchant.
USAA credit cards are designed for U.S. military personnel and their spouses and adult children. The decision to discontinue foreign transaction fees was made to reduce the costs for servicemembers making purchases abroad.
Things to know about USAA credit card foreign transaction fee:
- No USAA credit cards have foreign transaction fees.
- Some USAA credit cards used to charge a 1% foreign fee. It was removed from USAA Visa card offers first, then Mastercard, and Amex offers.
- A foreign transaction fee is a surcharge credit card companies add to purchases processed outside of the United States. You don’t have to be in another country to be charged the fee. It also applies to online purchases processed through an international merchant.
- USAA, as a credit card issuer, has discretion over foreign transaction fees. Credit card networks (Visa, Mastercard, Discover, and American Express) do not. They negotiate where in the world their cards will be accepted and handle currency conversion.
Military servicemembers and their families stationed abroad are the biggest beneficiaries of no foreign transaction fees on USAA credit cards. Even at the previous 1% rate, all those additional fees tacked on to everyday purchases begin to add up over time. But USAA isn’t the only credit card company to not charge foreign transaction fees on any cards – they’re joined by other major banks and credit unions like Discover, Capital One, HSBC, and PenFed.
Two good USAA credit cards for international travel are the USAA® Rewards™ American Express® Card and the USAA® Cashback Rewards Plus American Express® Card. The USAA® Rewards™ American Express® Card offers 2,500 points after your first purchase. You can also earn 1 - 3 points per $1 spent on purchases. The USAA® Cashback Rewards Plus American Express® Card offers 1 - 5% cash back on purchases.
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Bill Voughn, Member
@billy_voughn
Nah, no foreign transaction fees. They've joined Cap One in that respect.
People also ask
Is USAA Visa or Mastercard?
Most USAA credit cards are on the Visa network. USAA does not have any Mastercard credit cards, though it does also have cards on the American Express network
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