Thread: Foreign transaction fees with Discover?

You know I don't travel much but I do like using my Discover credit card when I'm on a biz trip in China. Discover piggybacks on the biggest payment network there and that let's me use my card for free. I may only make it out there 2 or 3 times a year but still...

Now I got a notification from Discover saying that starting May 1st I will be getting charged 2% foreign transaction fees outside the US. This is bullcrap now they all charge fees, Amex, Bof A, Chase and all of the others. I think the only one that doesn't yet is Capital One? I'm not a big fan but I'll get their card if it means I'm not charged fees on international purchases.

I bet Cap One will hope on the bandwagon too and start charging fees on foreign purchases before long too.

Yep that is why I have held off on getting a Capital One credit card. I don't want to sign up and then have them switch it to the same rates as the other guys in the next few months.

I don't understand the whole reason to charge higher fees if you are in another country. They already are skimming off you by with the currency conversion rates so why do they need to charge an extra fee on top of that.