Looking for a new bank and credit card

[ahsia]

I just accepted a new position where I will be traveling 100% abroad and I am looking for some advice. Basically looking for a bank that will make banking easy while I am on the road, and to avoid ATM fees if I need cash. Of course any other benefits is just bonus.

Same deal with credit cards. I know a lot of cards charge the 3% fee for international charges, so I am looking for avoid that and get cards that offer the best rewards program. I think I am definitely going with AMEX Gold, but also need a Visa or Mastercard because AMEX isn't accepted everywhere. Since my company is booking all my travels and lodging for me, I won't benefit much on getting the extra air miles or hotel stay points, but I am enrolled in AAdvantage and United Mileage Plus.

Anyways, your advice is greatly appreciated! Thanks...

[Bluezy]

Re: Looking for a new bank and credit card

Any US banks are going to charge extensive fees for international transactions. I wil not be surprised if those fees increase. Therefore, depending on your situation, you might want to look into dealing with a particular bank abroad as well as one in your native country, and saving some working funds and living expenses through a local bank.

Which country are you heading to?

[CRFSaver]

Re: Looking for a new bank and credit card

Mastercard and Visa automatically add a 1% fee for any foreign transactions. I think Amex is at 2%. Most banks will also add on top of it as well. Ironically, Capital One and MBNA do not charge any foreign currency fee and I think Capital One does not pass on the Visa/Mastercard charge.

Otherwords always check out Citibank since they are in sooo many countries. You could also try HSBC as they are global and own Republic Bank in NY. Royal Bank of Scottland owns Citizens bank and I believe just purchased charter one as well. Might check them out.

[Fern]

Re: Looking for a new bank and credit card

If you are a veteran of any war, I would recommend USAA, which treats its members very well. You can still get a USAA credit card, like I have, without having been a veteran, but i can't speak to your specific questions about foreign transaction fees.

Many of the cards let you earn $ back based on the amount of your annual tranasactions. Might as well use one of those and get something in return for it...

[CRFSaver]

Re: Looking for a new bank and credit card

USAA is also the 12th largest card lender in the USA. I have heard wonderful things about them but unfortunately I do not qualify.

[Fern]

Re: Looking for a new bank and credit card

Well again, just to emphasize, you CAN get an ordinary credit card from USAA without having been a veteran. That's what I've done.

[dealsaver]

Re: Looking for a new bank and credit card

Check your local credit union. Their foreign transaction fees are often much less than the big banks.