Credit Card Surcharges You Can Avoid

Most credit card companies have provisions in their fine print that they know people do not read that stipulate a "Foreign Transaction Fee" on every charge you make while abroad. International travel has become a very profitable resource to credit card companies. Even when you receive quotes in U.S. dollars for hotel, cars, tours or cruises, the vendor may charge the amounts quoted in the local currency. The traveler will incur a double whammy when this happens. As savvy travelers know, the foreign transaction fee is about 3%. Then there is the unfavorable currency conversion rate. The result may add about 5% to your cost. For frequent international travelers this easily could add up. Solution: Some credit card companies waive the foreign transaction fees or simply do not apply them. Inquire with your credit card company if these charges apply to you before you use your card. If you do travel regularly, look for a "no fee" cards. www.premieretravel.com