No Foreign or Annual Fee Credit Cards

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13hartc
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No Foreign or Annual Fee Credit Cards

Postby 13hartc » Mon Apr 06, 2015 10:17 am

I have a Discover Card which has both, but from what I gather Discover is not accepted in many places in Europe. I am looking for a Credit Card that has no annual fee or foreign transaction fee. If anyone has any advice or input, or know about any pre paid cards that have no fees?

Thanks
American Express $22,500
Capital One $6500
Chase $2500
CU Card $1000
Discover$2550


Ghoshida
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Postby Ghoshida » Tue Apr 07, 2015 9:15 am

13hartc wrote:I have a Discover Card which has both, but from what I gather Discover is not accepted in many places in Europe. I am looking for a Credit Card that has no annual fee or foreign transaction fee. If anyone has any advice or input, or know about any pre paid cards that have no fees?

Thanks


Most Capital One cards should do. You can try the Quicksilver, with 1.5% cashback, no FTF, no AF, and rewards post as soon as the transaction.

Some cardholders don't like Cap One much because their CLI policies, average Customer Service etc; but of late people have got some good limits.
AMEX BCE | PRG || Barclaycard Sallie Mae || Capital One QuickSilver | Venture || Chase Freedom | Sapphire Preferred || Citi Dividend || Discover It || UFCU Great Rate || US Bank Cash+ #1 | Cash+ #2 | Club Carlson Plat | REI || Total CL $144.2k + PRG NPSL, not counting AU

13hartc
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Postby 13hartc » Tue Apr 07, 2015 4:36 pm

Ghoshida wrote:Most Capital One cards should do. You can try the Quicksilver, with 1.5% cashback, no FTF, no AF, and rewards post as soon as the transaction.

Some cardholders don't like Cap One much because their CLI policies, average Customer Service etc; but of late people have got some good limits.


Thanks! I applied for the Quicksilver and was approved for $3000. What is the CLI policies you talk about.
American Express $22,500
Capital One $6500
Chase $2500
CU Card $1000
Discover$2550

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Apr 07, 2015 5:58 pm

Barclaycard Arrival would qualify and perhaps be helpful (in addition to Quicksilver), since MasterCard is more widely accepted in some countries than Visa is. Having a PIN-based card can also be helpful at times. Many credit union cards would meet your requirements.

I've heard some comments here and there about CCs charging currency conversion fees (both DCC and just generally bad, non-market rates) but I don't really know how big a problem they are, or how common they are with each particular issuer. I don't think these are quite the same as the Foreign Transaction Fees that a card may advertise it doesn't charge. An unfair currency exchange rate can be just as bad as a separate fee.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

13hartc
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Postby 13hartc » Tue Apr 07, 2015 6:02 pm

CarefulBuilder14 wrote:Barclaycard Arrival would qualify and perhaps be helpful (in addition to Quicksilver), since MasterCard is more widely accepted in some countries than Visa is. Having a PIN-based card can also be helpful at times. Many credit union cards would meet your requirements.

The only down side is there is an Annual Fee.
American Express $22,500
Capital One $6500
Chase $2500
CU Card $1000
Discover$2550

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Apr 07, 2015 6:08 pm

13hartc wrote:The only down side is there is an Annual Fee.


Barclaycard has not named the cards in that product line consistently over time. You are technically correct that some old accounts still called "Arrival" have an annual fee. Those same cards, when issued now, are called Arrival+. I think there had been a no-AF option for as long as there has been the AF option. Plus, some people call and can get the AF waived even on the AF version.

If you apply now for the card called Arrival (not an Arrival+) there is no AF. The rewards just aren't as good.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Ghoshida
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Postby Ghoshida » Tue Apr 07, 2015 8:17 pm

13hartc wrote:Thanks! I applied for the Quicksilver and was approved for $3000. What is the CLI policies you talk about.


Congrats on the approval.

You can typically ask for a CLI through your online account every 6 months; but many a times Cap One says no without giving logical answers. Their frontline customer support does not help much.

I hope you will find the card useful. If you, in future, think that the credit line is not sufficient, and that Cap One is not giving you a CLI after requesting, you can (and should) try emailing their Executive Office (search email on Google) and / or send a message to their Facebook team. A higher-level rep will get in touch with you and offer better solutions.

With regards to DCC-related charges, remember, when you buy something in a foreign country, always pay in that currency. Do not accept charges in US Dollar. Let your bank make the currency conversion, do not accept the merchant's currency conversion. They will charge heavy fees and will eat up any savings that you got from Cap One's no-FTF.

I have used Cap One QuickSilver and Chase Sapphire Preferred to pay charges in South Asia, Middle East, and Europe. I always pay in the foreign currency. On my statement, the conversion rate applied by my bank is almost identical to the rate published by xe.com.
AMEX BCE | PRG || Barclaycard Sallie Mae || Capital One QuickSilver | Venture || Chase Freedom | Sapphire Preferred || Citi Dividend || Discover It || UFCU Great Rate || US Bank Cash+ #1 | Cash+ #2 | Club Carlson Plat | REI || Total CL $144.2k + PRG NPSL, not counting AU

amex007
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Postby amex007 » Fri Apr 10, 2015 2:43 pm

I used to have a capitalone platinum and they are stingy on the CLI's. I had a CL $1750 and some AF but also had 2 other cards come in afterwards with a CL $1500 and CL $2200, both with no AF.
I called capitalone asking if i could get a CLI and they said no, so i closed it. CSR didnt even hesitate, just closed it out for me.
Amex Gold NPSL | Amex ED 28500 | Barclaycard Arrival 17500 | Hyatt visa signature 5000
sockdrawer-- GM 4000 | Unionplus 2200
EX 795 EQ 786 TU 790

takeshi
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Postby takeshi » Sat Apr 11, 2015 5:53 pm

CLI's are not a matter of stinginess or generosity. With any creditor limits and CLI's are based on one's credit and income.

That said, CO does have product targeted towards builders and rebuilders and such products can be limited and that's what many seem to use to base their opinion on CO. However, CO does have products for those with better credit that are not limited.

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CarefulBuilder14
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Postby CarefulBuilder14 » Sun Apr 12, 2015 10:32 am

takeshi wrote:CLI's are not a matter of stinginess or generosity. With any creditor limits and CLI's are based on one's credit and income.


Customer loyalty can be a factor, too. I know it's just anecdotal evidence, but it does seem that Discover gives higher CLIs to customers who use it as an everyday card. Chase, on the other hand, seems to care much more about the credit report contents than customer loyalty.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card



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