Travel Deal of the Day (June 2, 2008)

If you are heading to Europe this summer, you should take a look at the foreign transaction fees on your credit card(s) before you go.

The Deal:
Given the current unfavorable exchange rates, you likely will want to be smart with your spending overseas if you are traveling overseas this summer. One of the places you can save money is by looking at the foreign transaction fees on your credit card(s). Some cards charge up to 3% of the amount of your overseas transaction to “convert” that transaction back into US Dollars when it appears on your statement. However, there are credit cards out there with no foreign transaction fee – meaning that each of your purchases will avoid such a fee. It is well worth your time to investigate which of your credit cards have the lowest foreign transaction fee – if you have enough time before your trip, you may want to find a card with no foreign transaction fee to use before you travel.