Wednesday, December 19, 2007

Great Financial Idea

I know I have not written in a while, and I apologize. I am planning to get posting regularly again within a few days. I just wanted to share the following for anyone traveling outside the US.

In this article, foreign transaction fees that are tacked on by Visa, Mastercard, and most banks are discussed. Most people end up paying about 3% extra on foreign purchases. This can be a real drain when living, shopping, or visiting in Israel (or anywhere else).

After some research, I have found that CapitalOne has a policy that they do not charge any fees for foreign purchases. Now here is the real kicker: not only do they not charge you any extra fees, but they even cover the 1-2% charged by Visa or Mastercard! You only pay the real value in dollars of what you purchased. This beats currency converters or banks, and is the absolute best deal I have seen (and the best possible) in a credit card. (You can get cash or rewards benefits in the deal, also.)

I am in no way connected to CapitalOne, and am posting this as a public service announcement, especially since the Jewish community does so much foreign travel. Check it out at the CapitalOne website.