Credit cards for the jet-set crowd
What's in your wallet, as you leave the country this summer?
If you travel overseas frequently for work and/or play, you should know how much you're paying to get cash as well as to use a credit card to pay for things.
According to the folks at lowcards.com, debit cards are a good way to get a bank exchange rate on foreign currency. To avoid fees levied by using an out-of-network ATM, check to see if your bank has an agreement with a financial institution in the country you're visiting.
Also, both Visa and MasterCard charge at least 1 percent fees on international purchases, and many card issuers tack on additional fees of about 3 percent.
I was surprised to learn that two credit card companies charge no fees:
Capitol One and Discover. Capitol One even reimburses the fees that Visa or MasterCard charge.
And as you might imagine, cash advances on credit cards are a bad idea. Even within the United States, those transactions are subject to fees, so getting a cash advance outside the country just invites them to charge you even more money --- an international fee on top of whatever is already expected.
But this MSN Money article reminds us that the fees don't add up to much for more casual passengers. If you don't leave the country a lot, it's not worth it to get another card, especially if you have to pay an annual fee.
(photo: Associated Press)
A native of Vietnam, 