For those of us who travel alot, one aggravation, but an avoidable one, is the foreign transaction fees charged by various credit card companies. For example, many of the Visa and Mastercard credit cards charge a 3 percent fee for every foreign transaction, American Express charges 2.7 percent, and so forth. For the most part, these fees have risen over the last few years to what I consider unacceptable levels (particularly for those of us who spend a lot or most of our time outside our home country).

Many of us use Capital One credit cards owing to the fact they do not add a foreign transaction fee. Schwab used to have a credit card that had no foreign transaction fees, but the card was discontinued recently, apparently owing to problems Schwab had with the bank it partnered with on the card (I also had some severe problems with customer service at that bank, so I was not unhappy when Schwab canned them, notwithstanding that the card also offered a 2 percent rebate on purchases).

Although I have had good luck with Capital One, it doesn't offer quite the benefits that some of the "miles" or "points" cards do (although they do have their own rebate program that gives some benefits, and more if you pay a yearly fee). So, I'm still interested in other alternatives.

Well, I have historically hated Chase Bank, and anything associated with it. However, I often get sucked in by their promotions and/or benefits offered with their credit cards. I therefore was interested when I saw recently their Holiday Inn Priority Club branded credit card had no foreign transaction fees. And just within the last 24 hours, I received an email telling me their Continental Presidential Card (which is a premium card with a premium yearly fee but quite a few benefits) will no longer charge foreign transaction fees. I wonder whether this is going to expand (or already has expanded) to other Chase cards (which typically have charged 3 percent) or is isolated to these two. I also wonder whether other banks are following this possible new trend.

And so long as I am wondering, one thing I haven't yet figured out is whether the "no foreign transaction fee" cards are using accurate currency conversion rates, or are skewing these in their favor to make up for the lack of a foreign transaction fee (if anyone knows the answer for specific cards, please report it).

In any event, I thought given the number of us who travel to foreign destinations, it would be helpful to start a thread where board members can note changes in the foreign transaction fees charged by the various credit cards, and also note which ones are available that do not charge the dreaded (and often ridiculously high) foreign transaction fees. Also, if anyone notes "monkey business" in how specific cards or banks are converting between currencies, that would also be of interest.

So if ya have info on other cards, let us know.

By the way, I haven't really explored whether there are sites dedicated to monitoring these transaction fees and so forth. If anyone knows of one that seems reliable and complete, that information would be helpful as well.

Citi is doing away with their Premier Pass Card Elite Level that charged me 3% transaction fee's and replacing it with a Citi Thank You Premier Card that has no foreign transaction fees.

The bad thing is the way they figure the "points" I am using my card "points" to pay for my stay at the Majestic Grande on this trip, however the card will no longer earn 2 points per dollar spent on most items and will now only earn 1.2 points per dollar, so I am losing out big on this deal as my credit union VISA only charges me 1% in foreign transaction fees.

Between the credit union and Citi bank for purchases made on the same day, and on ATM withdrawals I ALWAYS get a better exchange rate with my credit union.