Fidelity Visa removes foreign transaction charges

[COcheesehead]

Individuals who apply now and are approved for the Fidelity Rewards Visa Signature Credit Card will enjoy 0% foreign transaction fees*. By the end of August, there will be no foreign transaction fees on new purchases for existing accounts.


*Foreign Transaction Fee: 0% for each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars. 0% of each foreign purchase transaction or foreign ATM advance transaction in a foreign country.

 

[njhowie]

Excellent!

This doesn't affect me. However, DW purchases random stuff from Chinese companies periodically and I see the foreign transaction fees show up.

The one time it did hit me, with Dollar Car Rental, I did a prepay through their website, they billed through Ireland, and that did pick up the foreign transaction fee.

 

[COcheesehead]

Yea, sometimes it’s sneaky. Foreign travel is straight forward, but I bought a winter jacket from Arc’teryx and got hit with a foreign transaction charge - didn’t know they ship from Canada. Duh!

 

[braumeister]

Yes, sometimes you get hit with one without expecting it, but I just looked it up and all the foreign transaction fees I've paid over the last seven years don't even come to $20 so it's hardly a big deal. Still a nice gesture on Fido's part -- I won't have to leave the card at home on future travels.

 

[NewEnglander]

This is great news. We use the Fidelity card for almost all expenses but we've had to use our backup USAA card when on European trips. USAA has no foreign transaction fees but is only 1.5% cash back.

 

[jollystomper]

That is good news. I almost used my Fidelity Card in Europe earlier this year until reminded about the foreign transaction fee (thank you, audreyh1 ). While our Capital One cards served us well, it is good to have another option.

 

[imbatman]

Great news, this is my secondary card daily but in the past has always been left at home in the safe when travelling overseas

 

[athena53]

Yes, this IS good news. I'd been using my Costco Visa when out of the country and many of the charges were classified as Restaurant or Travel anyway, so I could get 3% back with no transaction fees. I used Fidelity on everything else since it was likely a wash (2% cash back minus 1% or so FX fee) compared to Costco's 1% rebate.

I travel with at least 2 cards just in case something happens with one. Most recently I left the Costco card at a B&B in Croatia. Very honest people, they called immediately, I was already in the next country so just reported it lost and had a replacement sent. It was good to have Fidelity in the meantime.

 

[Phroig]

That's great! This card's become a viable "only card you'll need." Thanks for sharing.

 

[Go-NoGo]

Excellent news, thanks for posting.

I have always had to shuffle my wallet with new cards whenever I travel abroad. Now I can keep the Fido and Costco card and done.

My guess would be that Abigail got a little tired of seeing those transaction fees on her statement when she travelled

 

[Chuckanut]

Good news. It’s my fallback card and now I even use it at Costco because I get the 2% back much sooner and it is deposited in my account.

 

[Texas Proud]

Great news.... but DW and DD just got back from Turkey using this card...


At least it was only 1% fee...


Edit... where did you get this? Just went to look and saw nothing on the website.

 

[BlueberryPie]

Thanks COcheesehead for pointing me to this thread. I just got the Citi DoubleCash back and proceeded to need to do a bunch of international transactions and had to use another card. Also I discovered Costo does not take Mastercard so I'm still on the hunt for the one card to unthinkingly rule them all

Can you simply use the points to offset your balance, or do you have to deposit it in your fidelity account?

 

[COcheesehead]

Great news.... but DW and DD just got back from Turkey using this card...


At least it was only 1% fee...


Edit... where did you get this? Just went to look and saw nothing on the website.

They announced it on the Fidelity forum. Fees are removed for current card holders starting end of August.

 

[COcheesehead]

Thanks COcheesehead for pointing me to this thread. I just got the Citi DoubleCash back and proceeded to need to do a bunch of international transactions and had to use another card. Also I discovered Costo does not take Mastercard so I'm still on the hunt for the one card to unthinkingly rule them all

Can you simply use the points to offset your balance, or do you have to deposit it in your fidelity account?

To get 100% of the cash you need to deposit it in your Fidelity account, but I pay the card out of the same account so it’s a wash.

 

[audreyh1]

Yea, sometimes it’s sneaky. Foreign travel is straight forward, but I bought a winter jacket from Arc’teryx and got hit with a foreign transaction charge - didn’t know they ship from Canada. Duh!

Yeah, you have to be careful about that!

 

[rkser]

This is great news, can now just take my trusted Fido card overseas;

I wonder if this will apply to withdrawing cash in local currency from an ATM overseas from my Cash Management account, as on my store purchases

Thanks for sharing CoCheesehead

 

[Alex The Great]

There are plenty of credit cards with 2% cash back on everything and no FTF. Power Rewards card from PenFed, Apple Card (when used with Apple Pay) for starters.

 

[flyingaway]

Maybe it's time to get rid of my Chase Sapphire card.

 

[DrRoy]

I can use that.

 

[COcheesehead]

There are plenty of credit cards with 2% cash back on everything and no FTF. Power Rewards card from PenFed, Apple Card (when used with Apple Pay) for starters.

Right, but the foreign fees were always the wah, wah with the Fidelity card and now that’s changed.

 

[Chuckanut]

It usually use my Citi Costco Visa when I travel since it pays 3% on travel and restaurants and has no transaction fee. Those are my two biggest items unless it’s a long road trip and I am have to fill up the car once a day. Even then the Costco Visa pays 4% on gasoline

Now I will toss in the Fidelity card since it is better for the other expenses by a whole 1%. Every penny adds up in today’s expensive travel environment.

 

[BlueberryPie]

do you have to apply/get approved by the end of August? so it's just a one-month offer that existing customers will get included in?

 

[COcheesehead]

do you have to apply/get approved by the end of August? so it's just a one-month offer that existing customers will get included in?

New accounts get it now and existing accounts by the end of August.

 

[BlueberryPie]

Oh well, just got one, funnily enough, they gave me triple the credit limit I had on the Citi card, which was OK but could have been insufficient in a high-spending month.
I'm not delighted about the money going to my brokerage instead of my checking account but it in the end it won't matter much.
I had not realized the value of my Costco VISA until now, I rarely use it, but it might become my backup card, especially for travel.

Any reason why I should close the Citi card? it can sit there unused in a drawer, I have alerts in case I get fraudulent use, at the same time its credit limit is probably about 10% of my credit capacity so there is not a huge incentive to keep it to increase my total credit capacity