The Wells Fargo Reflect℠ Card foreign transaction fee is 3%. This means Wells Fargo will add a 3% surcharge anytime you use the Wells Fargo Reflect℠ Card outside of the United States. The 3% fee also applies to online purchases made through an internationally-based merchant.
The Wells Fargo foreign transaction fee is either $0 or 3%, depending on the card. The Hotels.com® Rewards Visa® Credit Card has a $0 foreign fee, but other Wells Fargo cards charge 3%. So, most people with a Wells Fargo credit card or debit card will pay an extra 3% on purchases from a foreign merchant, both in-person and online.… read full answer
Fortunately, plenty of other credit card companies, like Chase, Citi and U.S. Bank, offer cards with no foreign transaction fees. Plus, none of the cards from Capital One or USAA charge foreign transaction fees.
In addition to using a card with no foreign transaction fee, you’ll want to avoid dynamic currency conversion while you’re abroad. By doing these two things, you could save up to 10% when traveling internationally.
The Wells Fargo credit card exchange rate is the exchange rate quoted by Visa or American Express 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 Wells Fargo credit card you have. The foreign transaction fee will also vary by card.… read full answer
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. All in all, the differences in these exchange rates are negligible, and shouldn’t determine which Wells Fargo card you carry.
Ideally, though, you should always use a credit card with no foreign transaction fee when purchasing from international merchants. 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 with banks, credit unions, or airport currency exchange services.
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