I applied for a Capitol One credit card after reading in several threads here that they don't charge a transaction fee when you are overseas. However, I read in the contract that the only purchases you can dispute (As in if something breaks or is defective after you purchase it.) are those in your home state and only within 100 mile radius of your address. What's up with that???


Ginger

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This message has been edited. Last edited by: Colleen,

quote:

I read in the contract that the only purchases you can dispute (As in if something breaks or is defective after you purchase it.) are those in your home state and only within 100 mile radius of your address. Confused What's up with that???

Ginger, I believe that is the fine print in all credit cards contracts. I know that it is in ours. Check it out.

I don't know where that is in the contract, but here is the benefit guide to the Capital One credit cards. The Platinum Visa (the basic one) has something called Warranty Manager which apparently handles refunds or replacements for something you buy with the card that has a warranty, although I have never used that. Anyway, it doesn't have the geographical restriction.

I have disputed twice out-of-state Capital One Visa purchases -- one that was unauthorized (a company automatically renewed a service that I did not want renewed), and in another case something I ordered online that never arrived. In both cases, I got a credit. I would not normally think of going to the credit card company if something broke or was defective unless I could not for some reason contact the place I bought it from. I would expect the original merchant to deal with it, and I can't recall an experience where this happened and the merchant wouldn't try to accommodate the complaint.

Well, I finally applied on-line for one of these today if only for the no transaction fee on foreign exchanges. Too bad I won't have it in time for next week.

I just applied for this card online and I am leaving a week from tomorrow. I am hoping that I get a fast approval and that I can have them overnight me a card before I go. Eeek.

I know of someone who was not able to use a brand new card for a large purchase while traveling several years ago, despite having a high credit limit on the card (e.g. a $10,000 limit but a $2,000 transaction declined). I can't remember the details--something about a being new customer and not yet having established a spending pattern with the card. This may not aply to you, but do have another card/s in case Capitol One operates this way. And alert all your credit card companies of the dates you may be using the cards in Europe.

I got mine and activated it today. I did forget to tell them that I will be going to France. I need to call them back.

Ginger

quote:

I applied for a Capitol One credit card after reading in several threads here that they don't charge a transaction fee when you are overseas.

I need clarification on what "transaction fee" is meant here. I read many threads here on credit cards and ended up confused betweeen a charge for any purchase, just for using the card overseas, on one hand, and a charge for converting from Euros to dollars, on the other. Which one does Capital One not charge? If it's the former, what is their charge for the latter?

Thanks,
Karen

For transactions in a foreign currency, the Visa/MC international organization converts the charge into dollars, adding 1% to the interbank exchange rate. The card-issuing bank can pass that 1% cost along to its customer, or not; it can also add its own charge of another percent or three.

If the bank does add on its own percentage, that shows up on your credit card statement as a separate item called "foreign transaction fee" (or something similar) -- one amount for all the foreign transactions added together.
Capitol One is one of very few Visa/MC issuing institutions that do not add on anything.

We had friends join us in Italy last year and the second time they tried to use their Capital One card (in a grocery check-out line), it was refused. They had notified Capital One of their trip (and had paid for their tickets and hotel in Italy with the same card), but the first foreign transaction made on the card had tripped a security alert and the second use was denied.

It took them a significant amount of time and overseas phone charges to get the card reactivated.

This thread claims that Capital one is going to start charging the 3% currency transcation fee in April like everyone else:
http://slowtalk.com/groupee/forums/a/tpc/f/889608785/m/...251094701#3251094701
I was thinking about getting a Capital one for traveling myself, but have decided not to. if there are problems like you describe here with using it in Europe (I have never had a problem with my other cards like this) and if they are going to start charging fees like everyone else, I decided to stick with the cards I have.

You might want to check the AA card. It charges nothing but you still pay the 1% VISA or M/C charge.

I just got off the phone from making my application. The woman told me that she'd "heard something" about the possible change to charging for overseas transactions, but that "we would give customers 60 days notice" before the charge would be incurred.

Oh, well. If they give me one, I can just choose not to use it.

I guess the only way around all this nonsense is to carry huge amounts of cash.

Karen

I used my new Capitol One Card in Italy in April(I had applied for one just for use for this trip)without any problems. As I had only used it once in the States before the trip, they did put me through lots of questions when I notified them that I would be using it in Italy. My bill in May reflected no transaction fees.

quote:

Originally posted by Alpinista:
We had friends join us in Italy last year and the second time they tried to use their Capital One card (in a grocery check-out line), it was refused. They had notified Capital One of their trip (and had paid for their tickets and hotel in Italy with the same card), but the first foreign transaction made on the card had tripped a security alert and the second use was denied.

It took them a significant amount of time and overseas phone charges to get the card reactivated.

Another good reminder: be sure to notify your credit card companies that you'll be traveling! They'll usually ask for dates and country info, and this will HELP to avoid having your card shut down....but it's hell when you're the one who's the exception to the rule. I'm so sorry for your friends trouble, and I hope they gave Capital One a good talking to once they got back home.