Avoiding Credit Card Fees for Europe

This question is asked a lot here, and the consensus seems to be that the Capital One VISA and the Schwab Invest First VISA are the best to use in Europe because they have no foreign currency transaction fees.

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

Obviously, the best card is one that doesn't charge any fee. In addition to the one mentioned, an ATM card for a Wells Fargo PMA account (at least in Colorado) has "free" ATM usage.

After that, any local bank, without a foreign currency operation, will just charge you the 1% Network charge for credit card usage, and, for using an ATM card, an additional charge of a few $ for out-of-system ATM usage.

My Wells Fargo PMA account (in California) provides 4 completely free transactions per statement cycle for international ATM withdrawals.

I have a Capital One account and use their ATM card with no fees of any kind internationally. I have seen their ads that their credit card is fee free as well but I don't have one.

Unfortunately, many of our local banks have caught on that they can charge international fees like the big guys... One of my credit unions only charges the 1% fee on ATM and credit card transactions. My credit card gives me a 1% rebate so that washes out. The two other Credit Unions I use are restricting all international transactions on their cards because of a rise in recent fraud. So, just don't assume any ATM or credit card can be used internationally.

My Amex card used to tack on 2% in transaction fees, but I just purchased an ticket from a European carrier and it hit my bill with a 3% fee...

So far, my Capital One ATM withdrawals have been at the best exchange rate and fee free of all the different cards I have tried in recent years. If you open a Capital One account online through Costco, they give you a bonus and a better interest rate. They only issue their ATM cards for use on the Money Market accounts as those are basically checking accounts.

Ally (the online bank formerly GMAC) has a money market account and a savings account - both of which come with a debit card and no additional fees. i used it in italy last fall and got good rates and had no problems.