Cryptocurrency Q&A
Is a 3% foreign transaction fee bad?
Is a 3% foreign transaction fee bad?
KimonoElegantGlitter
Sat Oct 12 2024
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7 answers
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I'm considering a credit card that charges a 3% foreign transaction fee. I'm wondering if this fee is considered high or unreasonable, and whether it's worth paying this fee for the convenience of using the card abroad.
7 answers
CryptoWanderer
Mon Oct 14 2024
For travelers relying on credit cards for their financial transactions abroad, this fee can become a significant financial burden.
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HanjiArtistryCraftsmanshipMasterpiece
Mon Oct 14 2024
According to Odysseas Papadimitriou, the CEO of CardHub, a significant portion of credit cards, approximately 90%, levy a foreign transaction fee on their users.
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KatanaBlade
Mon Oct 14 2024
It is essential for consumers to be aware of these fees and make informed decisions when selecting a credit card for international travel.
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Bianca
Mon Oct 14 2024
This fee, which can range up to 3% of the transaction amount, can significantly impact the overall cost of an international trip.
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Alessandra
Mon Oct 14 2024
One way to mitigate the impact of foreign transaction fees is to choose a credit card that does not charge such fees or offers a lower rate.
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