At the gathering Saturday night, Frank reminded me to mention the foreign transaction fees charged by most credit cards. The rate varies, but most credit cards tack on an additional percentage as a fee when you purchase something out of the country. The New York Times published an article on this in February of this year (you can read the article here: New York Times) and reported that foreign transaction fees range from 2% - 3% on most American credit cards.
They note that two do not, Capital One and Schwab Invest First Visa. Unfortunately, Schwab is no longer offering this card, so Capital One (information here: Capital One) appears to be the only choice for no foreign transaction fee credit cards.
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