In my post about the Best ATM or Credit Card For Foreign Travel?, Capital One was a promising option as it had no issuer-based foreign currency surcharges, unlike the 3% charged by Citibank or Chase. However, it was not entirely clear if they waived the 1% Visa/MC fee. After my trip to China, I am happy to report that the 1% Visa/MC fee was indeed waived, at least for me. I came to this conclusion after using historical exchange rates courtesy of Oanda.

Here are some examples for Chinese Yuan on June 6, 2006:

Capital One USD to CNY exchange rate: 7.997 to 1
Interbank Rate USD to CNY rate: 8.01 to 1

(...)Read the rest of Capital One: Great For International Travel (156 words)

6 comments ...