FTF - A New Twist

Discussion in 'General Discussion | Credit Cards' started by othermike27, Jun 26, 2015.  |  Print Topic

  1. othermike27

    othermike27 Silver Member

    Messages:
    113
    Likes Received:
    175
    Status Points:
    375
    Here's something I haven't seen before: a card with a two-tier Foreign Transaction Fee (FTF).

    Just received one of those "You're prequalified!" offers for a US Bank/R.E.I. co-branded Mastercard. The fee disclosure table shows a 3% FTF for each foreign purchase done in a foreign currency, or a 2% FTF for the same transaction done in US dollars. Of course, doing a foreign transaction in dollars also exposes the card user to a Dynamic Currency Conversion (DCC) fee of unknown amount, often 3-5%. Such a deal! :eek::mad:
     
  2. Wandering Aramean
    Original Member

    Wandering Aramean Gold Member

    Messages:
    28,233
    Likes Received:
    61,782
    Status Points:
    20,020
    There are a number of foreign countries where the currency is USD so it is less a DCC thing and more just because they can. Panama is one easy example.

    On the plus side, maybe some folks will see that the DCC still incurs a fee and stop accepting it.
     
  3. Dovster
    Original Member

    Dovster Gold Member

    Messages:
    907
    Likes Received:
    3,527
    Status Points:
    1,870
    I have the BoA Travel Rewards Signature Visa which has no FTF at all -- anywhere in the world. Moreover, not only is it free but you earn points equaling 1.5% of your spending (1.6% if you have a BoA checking or savings account.
     
  4. Wandering Aramean
    Original Member

    Wandering Aramean Gold Member

    Messages:
    28,233
    Likes Received:
    61,782
    Status Points:
    20,020
    There are lots of cards with no FTF anywhere in the world. And, depending on your spend and redemption patterns, 1.5% back might not even be the best option out there.
     
    Counsellor likes this.
  5. othermike27

    othermike27 Silver Member

    Messages:
    113
    Likes Received:
    175
    Status Points:
    375
    Yes, I understand that, and hold several no-FTF cards myself. But my point was to note the interesting FTF structure set up by this particular bank.
     
    Counsellor and Wandering Aramean like this.

Share This Page