Best Credit Card to Use in Europe

Don;t know about Capital One, but I have done the research several times, including recently on my card...Amex is 3% on the day rate (interbank), my best deal is Schwab Bank Visa Debit - 0% on the day rate interbank which you can check on the Visa website. Note that Schwab has reduced the amount of cash you can get to $1000/day in two $500 transactions. This actually makes getting cash in the US ahead of time more expensive. Just have enough (Euros or whatever) to get you a cab or to an ATM. Purchases are $15,000/day. Dn

Alex,
See http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

This is double posted question -- under Italy. I responded to it there. I really think it is very impolite to double post questions -- waste people time answering in one place when it has been adequate answer in the other.

Frank,

It is possible that Alex posted it here as it is a General Travel Question vs a post about Italy.

I will research my topic before I post something new.
However, this doen't mean that I have always found the proper information I needed. Thus leading me to a new post.

I have a Capital One card and a Chase card, both of which I'm bringing on my next trip to Europe (Germany, Luxembourg, and Amsterdam). Capital One doesn't charge any fees, while Chase charges a 3% international fee. The Chase card is my backup credit card and I hope I never have to use it!

We have a Capital One Visa which my husband is currently using in Europe- no transaction/conversion fees.
For ATM transactions, we upgraded our checking account at Citizens Bank to their GOLD account- which requires a HUGE balance be maintained, but it waives ALL ATM fees, here & abroad. (As soon as the trip is over, we'll move the money out...)
There is still a transaction/conversion fee but at least no "double whammy".
Perhaps your bank has something like that?

We looked into the online Schwab checking account that others mentioned & just decided not to bother this time.

Ellen, there are no "abroad ATM fees." You local card issuer, debit or credit, determines ALL fees. Don't know what you meant when you said they still charge a conversion fee. I thought the whole idea was to avoid all fees.

Ellen, you could probably do better at a credit union. I have debit cards from two different credit unions. One charges a 1% conversion fee, and the other charges nothing at all for withdrawals from foreign ATMs. As Frank said, no European ATM will charge you a fee for their use, like you would see on an out-of-network ATM here.

well, our particular bank- Citizens- had different kinds of checking accounts, depending on the balance you maintained. Going to their GOLD waived ALL ATM fees, whether in US or Europe (abroad). I don't care where or who the fee comes from, all I care about is not paying it!
But we still pay the foreign conversion fee on the ATM card only. My credit union did not have a fee free debit card. We had relatively short notice that my husband was leaving so we got the Capital One card & left it at that.
Yes, the goal would be to pay no fees, but this was the best I could do here before he left (with all the last minute planning etc.), without going crazy.

RE: Frank’s comment—“You local card issuer, debit or credit, determines ALL fees.”

The “FOREIGN” ATM owner (bank etc) can also charge a fee. I am sure you have seen this warning pop up on the screen- that you will be charged by the bank who owns the ATM you are using AND your home bank (if you are out of network etc.)

See 2 examples below…

1. For non-TD Bank ATM transactions, the institution that owns the terminal (or the network) may assess a fee (surcharge) at the time of your transaction, including balance inquiries.

2. State Farm Bank will not charge You for the use of ATMs not owned by the Bank (considered foreign ATMs). Further, the Bank will rebate a foreign ATM surcharge imposed by the ATM owner..

Ellen, Frank is basically correct.

1. For non-TD Bank ATM transactions, the institution that owns the terminal (or the network) may assess a fee (surcharge) at the time of your transaction, including balance inquiries.

They "may," but except for some predatory ATMs that you might find at airports they for the most part do not.

This kind of fee is pretty common in the U.S., however.

1. State Farm Bank will not charge You for the use of ATMs not owned by the Bank (considered foreign ATMs). Further, the Bank will rebate a foreign ATM surcharge imposed by the ATM owner.

This describes State Farm's policies. Note also that "foreign" in Bank ATM-speak simply means "not State Farm" and includes many ATMS you will find in the U.S.