S: Citibank screw job

[rajatQ2]

Screw citibank, those scoundrels charged me 3% "international transaction fee" on everything i charged on my AAdvantage mastercard while abroad. I was in england for a week and ireland for a week. i just got a big promotion so i was feeling a little loosy goosy with the cash. charged so much stuff, thinking that citibank would give me a good conversion rate. today, a big charge appears on my bill and they refuse to take it off. i've spent more than $20,000 on that card!

I HATE YOU!

[nickel]

Screw citibank, those scoundrels charged me 3% "international transaction fee" on everything i charged on my AAdvantage mastercard while abroad. I was in england for a week and ireland for a week. i just got a big promotion so i was feeling a little loosy goosy with the cash. charged so much stuff, thinking that citibank would give me a good conversion rate. today, a big charge appears on my bill and they refuse to take it off. i've spent more than $20,000 on that card!

I HATE YOU!
is Canada considered "international"? i have a citibank mastercard and i never get charged an extra fee when i use that plastic there.

[raimin]

citibank recently started charging that fee

[Butch]

citibank recently started charging that fee

Yup . . . Citibank sent notice a little while ago. Gotta pay attention to when your cards change the terms of agreement.

Since I'm living in Germany now, I've been sure not to use my Citibank credit card.

[raimin]

it started in april, i remember seeing it in the mailing they sent for changes to credit card. i think amex got sued over it, so all the major cc companies start sending out mailers

[ufcrusher]

They changed not only the international exchange rates and fees, but also how they compute your APR. (at least on my citibank card) They now use some London method which is supposedly lower. It ended up being higher for me until I called up and complained to get my interest rate lowered again. I hate how they have stopped automatically giving you interest rate reductions on their own accord. Back when I got this card in 94, they constantly raised my limit and lowered my rate....now I get the limit raises periodically without request but have to request the interest rate reductions!

[Jeffbx]

Amex is the way to go if you travel internationally. The USED to charge a fee, but like Raimin said, they got sued because they never TOLD anyone they were charging it. Everyone got their fees refunded, and I believe now they don't charge anything. I got a credit on my card for about $1.50 over that.

[gear02]

whew...thanks for that info Jeffbx. I was going to call and ask them about that fee as I'm traveling abroad very soon.

[raimin]

you should call amex to confirm or check the fees.
they might have also sent out the fee structure update after the lawsuit

i luckly traveled abroad the month before citibank started chargin the fees

[rajatQ2]

supposedly citibank had always been charging the fees. Previously they would attach the 3% to each individual purchase as they converted the currency. Now, they lump the charges together and add them as a separate transaction on the statement. this is according to the customer service agent i spoke to.

[ufcrusher]

I know that in 94 they did not as I was buying lots of things in London and only getting charged the exchange rate.

[InfiniteNothing]

I know that in 94 they did not as I was buying lots of things in London and only getting charged the exchange rate.

They might have been charging a slightly higher exchange rate (so if the euro was 1.3:1 they'd charge 1.33:1 instead). It'd be hard to notice.

[rajatQ2]

I know that in 94 they did not as I was buying lots of things in London and only getting charged the exchange rate.

that was a long time ago, home boy :fro:

[Kevster]

Yet another reason why I closed my Citibank visa account over 5 years ago. AMEX all the way for me!

[gear02]

Just called AMEX, and they too have a 2% fee on international transactions... :angry:

And my amazon visa has a 3% fee on international transactions...

what f-ing load of crap.

[gear02]

And my wachovia credit card has a 3% too :(

[ufcrusher]

that was a long time ago, home boy :fro:

Did you just call me OLD? Damn, that was cold. Just because something was over a decade ago does not make it a long time ago. Geez.

[kimchicowboy]

Just called AMEX, and they too have a 2% fee on international transactions... :angry:

And my amazon visa has a 3% fee on international transactions...

what f-ing load of crap.
doh. i bought my flight back to america from korea with my AMEX while i was still in korea. ROAR!

[Jeffbx]

Just called AMEX, and they too have a 2% fee on international transactions... :angry:


Crap...

Guess I should have read all of those letters with the tiny text that they sent me. :(

[gear02]

Yeah...I could barely hold my anger.

[Merlin]

...They now use some London method which is supposedly lower....
That would most likely be LIBOR. And, yes, it would typically be lower.

I recently ran into the exact same problem. I do a lot of travelling overseas and over the years some cards charged me for it and others didn't. I had one card that I would use for everything because there was no penalty. Used it in China in Feb. and was fine. I just got back from Spain a few weeks ago and low and behold there were fees. I called them up to see what was up with the charge. The said that the terms changed a couple of months ago and that this was the was it would be from now on. I said either take the charge off or cancel the card. They cancelled. I was a customer with them for a number of years and they usually wouldn't want to see me walk so these fees are non negotiable.

On the upside I also have a credit card from HSBC bank that I used on the same trip and there were no fees from them and the exchange rate was what it should be (no hidden fee). As HSBC is a truely global bank this doesn't surprise me. If you travel overseas I would advise getting one of their cards. Obviously this might change at any time but for now they appear to be a good option. I signied up for the card on a lark when buying something at BestBuy. They offered a $25 gift card. So that might be a good way to go.

Also when travelling I have found that it is usually best to avoid money changers. They will kill you with both fees and a big spread. If you need money your best bet is to just get it from an ATM. My bank, Suntrust, does not charge a fee for an international ATM and the rate is fair. See if your bank does the same.

[nickel]

Did you just call me OLD? Damn, that was cold. Just because something was over a decade ago does not make it a long time ago. Geez.
crotchety too ;)

[JackHammer]

I called Citibank this past Feb. before I went to Canada and they told me for my card that they don't charge a fee because you can use it internationally. IU have the Citibank Dividend card.

[Butch]

I called Citibank this past Feb. before I went to Canada and they told me for my card that they don't charge a fee because you can use it internationally. IU have the Citibank Dividend card.

I have the Dividend card, too . . . they enacted the change since February, I believe.

[rockets26]

Interesting that you guys were talking about this, as I found this link on the main page of Yahoo.

http://biz.yahoo.com/brn/050624/16435.html?.v=1

[ray]

When I was at Whistler this past February, I made all of my purchases with my WaMu debit card. I had contacted my credit card issuer if they charged, and indeed they charged a 3% fee on top of conversion rates (Chase).

Washington Mutual had told me that they only charge the conversion rate, and they didn't lie. When I got back to the US to check my bank statements online, everything was in order.

If you want to save the few bucks and have the cash available in your bank, then I would suggest just using a debit card to make your overseas transactions. As the article linked above points out, most banks won't charge any additional fees if you use a debit card.

[ufcrusher]

crotchety too ;)
Dont make me shake my cane at you....or any other parts too! :naughty:

[Grimm]

My CC were pretty good about notifying me about the 3% charge. It wasn't burried at the bottom of some small type notice. Well, it was, but they included a flyer that told about the change too.

I avoid the charges by using my ATM card to get cash and pay for things in cash.

[krayzie1]

I avoid the charges by using my ATM card to get cash and pay for things in cash.

I tried this with my ATM card from my bank and they still charged me an international service charge!! They burried it inside one of their fliers i'm sure.