Most US Credit Card companies are adding a 2-3% transaction fee on all overseas payments using a credit card. There is also a 1% currency exchange fee. These fees are added to each overseas credit card payment. I have checked and my USAA Mastercard and State Farm Bank Visa Cards only have the 1% currency exchange. If you are using a credit card overseas, call and check on the fees. Also decline to have the charge converted to US$ before the card is charged. You may get hit "double" for the transaction fees.

I got killed by not knowing that they were applying such fees. I put my surgery on credit cards... because I was getting 3% back in free gas. Little did I know that they were charging more than 3% in foreign transaction fees.

Great post!

Mark