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When using your Capital One credit card abroad—or even while making purchases online with international vendors—charges can add up more quickly than usual. This is because of your credit card’s foreign transaction fee. Foreign transaction fees are charged when you make non-US-dollar purchases, and can range from 1%–3% of the transaction amount.
Whether or not you’re charged this fee, and how much it costs, will depend on your credit card and credit card issuer.
How much is Capital One’s foreign transaction fee?
Capital One doesn’t charge a foreign transaction fee.
Capital One credit cards are geared toward travelers, offering perks and fee-waivers aimed at frequent fliers. For example, Capital One Travel is a travel-booking site that allows cardholders to find exclusive deals on flights, hotels, and excursions.
In addition to boasting a wide selection of credit cards with no foreign transaction fee, Capital One operates on the Visa and Mastercard networks, meaning their credit cards are widely accepted abroad.
Foreign-transaction-fee-free Capital One cards include:
- Capital One® Platinum Secured
- Capital One® Quicksilver® Secured Rewards
- Capital One® VentureOne® Rewards
- Capital One® Quicksilver® Cash Rewards
- Capital One® QuicksilverOne®
Do I need to notify Capital One before using my credit card abroad?
No, you don’t need to notify Capital One before going abroad. Capital One credit cards use chip and PIN technology, which help prevent fraudulent transactions. Your card activity will continue to be monitored while you’re abroad for any suspicious purchases, of which Capital One will notify you right away.
Tips for using a Capital One credit card abroad
When using a credit card internationally, it’s important to understand the costs and risks involved. Here are some tips to keep in mind before you swipe your Capital One credit card abroad:
- Get a PIN: You probably don’t use your credit card PIN number often; in fact, you may not even know you have one. Before taking your Capital One credit card overseas, make sure you find out whether your card has a PIN and what it is, or how you can set a new one. Many foreign transactions (especially at ticketing kiosks around Europe) require you to enter a PIN when you use your credit card. You may be able to find your credit card PIN in your original offer letter, or call the number on the back of the card to request one.
- Pay in the local currency: When you’re swiping your credit card at checkout in another country, the card reader may give you the option to pay in either the local currency or convert to US dollars. If you convert to US dollars, you’ll be triggering a Dynamic Currency Conversion which usually comes at an added cost. So while it’s tempting to see the price in your native currency, opt to pay in the local currency instead.
- Embrace the perks: Capital One credit cards offer travel perks, including flight price match, concierge service, and airport lounges (depending on which credit card you have). Research and understand these perks before your trip, so you can take advantage of these benefits to make your travels smoother.
