Wednesday, December 5, 2012

Foreign Transaction Fees

Those fees will really get you.  Usually credit cards charge 3% per charge when traveling internationally.  I remember when I was gearing up for my trip along the Trans-Siberian Railway 2 years ago, I really wanted a credit card that did not have foreign transaction fees.  I have always prided myself for having excellent credit, so I figured I would be instantly approved for this Capital One Venture card I had been eyeing for months.  As soon as I applied for the credit card, I sat back and thought to myself how sweet it will be to not have to worry about those pesky fees while I spend 3 months traveling.  I was picturing myself potentially being robbed somewhere in Siberia, and imagining my future self simply smiling and saying to my future bandit, "Jokes on you! I only carry credit!  That card will be inactivated before you even have a chance to swipe it!"  Who carries cash these days anyways.  I was suddenly snapped out of my dream world when I noticed the website had finished loading - Credit card denied.  What happened?  Oh, right, LASIK doesn't come cheap and I had taken out a line of no interest credit to pay it off incrementally... Needless to say, I did not have a fancy no foreign transaction fee credit card for that trip.

Well, 2012 is a new year!  My LASIK is long since paid off, so I figured I would once again attempt to obtain the elusive Capital One Venture credit card.  I am proud to say that I was approved and am ready to start traveling, fee free!  Now, I just need to contact my old travel buddy and find out how to go about getting a checking account for his bank that did not charge ATM fees.     

1 comment:

  1. Hahah, good job on missing the transaction fees! My current bank is just a credit union and reimburses all my ATM fees. Look for local ones around you!