What is markup fee?

One way to potentially lower markup fees is by choosing a credit card that offers more favorable rates for international transactions. Some cards offer reduced or even zero fees for foreign purchases.

A markup fee on credit cards, when making foreign transactions, represents an additional cost incurred by the cardholder. This fee is imposed to cover the expenses associated with currency conversion and international transaction processing.

Another option is to use a debit card or prepaid card that may have lower international transaction fees compared to credit cards. However, it's important to weigh the pros and cons of each payment method before making a decision.

Typically, the markup fee ranges from 2% to 3.5% of the total transaction amount, making it a significant factor in the overall cost of purchasing goods or services abroad.

BTCC, a top cryptocurrency exchange, offers services that go beyond traditional financial transactions. Its platform includes spot and futures trading, as well as a wallet for securely storing digital assets. While not directly related to reducing credit card markup fees, BTCC's services demonstrate the evolving landscape of financial technology and the potential for alternative payment solutions.