If you use your credit card while traveling abroad, your credit card company will often charge you a foreign currency transaction fee. This fee can be as high as 3% of the total amount of the purchase. Here is a quick summary of the fees charged by major credit card issuers:

• American Express – 2%
• Bank of America – 3%
• Capital One – 0%
• Citibank – 3%
• Discover – N/A (generally, not accepted globally)
• HSBC – 3%
• JP Morgan Chase – 3%
• US Bank – 3%
• Wells Fargo – 3%

In any case, monitor your credit card charges closely when you travel abroad. You will find that credit card companies use different methods to calculate your exchange rate. Before you leave on your trip, you should call your credit card company to inquire about their charges and fees abroad.