benchodroff.com

While traveling abroad, one of the quickest ways to rack up a bunch of fees is to use your credit card while marking purchases. While it’s true that many credit cards offer cheaper exchange rates than touristy shops, the additional 2-3% exchange rate fee that most credit card companies charge can quickly add up. In fact, those rates add up to about 2-3% of all your purchases. Imagine that. The convenience and safety of using a credit card is often better than using ATM card, but who wants to pay those fees?

I went searching online tonight and learned that Capital One is reportedly the only credit card company that charges absolutely no exchange rate on international purchases. I applied for their Capital One^® No Hassle Miles^™ Visa Signature^® card, which has no preset spending limit and
Fly any airline, anytime–no blackout dates or seat restrictions, and VIP dining privileges and access to “once-in-a-lifetime opportunities.” Cool. All I wanted was the no exchange rate fee, but that sounds fun too. The APR is high, at 13.9%, but what type of idiot doesn’t pay their credit card on time – especially when I have other credit cards that offer 0% APR on purchases and balance transfers for the first 12-18
months.

The quickest way to apply is online, but I like double checking my investigations with a real human. The credit card application number for Capital One is 1-800-695-5500. Besides, the best part of the whole process is telling the person to read the rates and disclosures as fast as they can while timing them. My application handler laughed when I told her that she came in at 3 minutes and 23 seconds. That’s not bad, but I’ve seen better. Maybe next time she will try harder.