More Credit Cards You Can Use Overseas
If you plan to travel overseas this summer -- perhaps a last-minute getaway to the Summer Olympics in London -- you might want to consider getting a new credit card before you go. As Kiplinger's Personal Finance senior reporter Joan Goldwasser recently wrote, banks in more than 60 countries have switched to cards with micro-chip technology rather than magnetic stripes. As a result you might have trouble using your magnetic-stripe card because some card readers overseas no longer accept them.
Joan listed three credit cards that offer both a stripe and chip in her story Credit Cards You Can Count on Overseas. Now more issuers have added -- or plan to add -- chip technology to their cards, says Bill Hardekopf, CEO of credit-card comparison site LowCards.com.
-- Citi Platinum Select Visa: No annual fee but foreign transaction fee of 3% of U.S. dollar amount of the purchase.
-- Citi Thank You Preferred: No annual fee but a 3% foreign transaction fee. Earn 1 point for every $1 spent on all purchases. Points can be redeemed for cash, gift card, travel rewards and more.
-- Hyatt Visa Signature: $75 annual fee but no foreign transaction fee. Earn 3 points for every $1 spent at Hyatt properties and 1 point for every $1 spent on all other purchases. Points can be redeemed for free nights at Hyatt properties.
Hardekopf says that Bank of America announced this week that it will add chip technology to several of its cards, including Merrill Lynch credit cards, BankAmericard Travel Rewards, BankAmericard Privileges and Virgin Atlantic Travel credit cards. Bank of America will upgrade existing holders of these cards if they are identified as international travelers, he says.