Send your credit card company a bill -- Part 2.
Last December, we blogged about a Class Action Suit requiring credit card companies to refund the International Transaction Fee they charged between February 1, 1996 and November 8, 2006. Turns out that it was, in a word, illegal.
When I got my packet in the mail last year, it seemed like light years before I had to respond. But my, how time flies. The deadline for filing a claim is May 30, 2008. The good news is that you can file online at www.ccfsettlement.com
There are three ways to settle. If you were out of the country for less than a week, choose the Easy Refund option and you'll get a check for $25. If you have receipts for every single transaction, you can submit and detailed report and get 1 - 3% back. If you're well traveled but lazy, you can estimate the total number of days you were outside the country and receive a refund based on that.
In case you're wondering which card you should use abroad, Capital One is the clear winner with 0% transaction fees. It evens absorbs the 1% that Visa and MasterCard slap on. The runner up is WAMU, who charges 1%.
Before you travel abroad, call your credit card issuers and ask them what their international ATM charges are. When you decide which card to use, call the issuer and let them know when and where you'll be traveling to ensure that your card will be accepted.