Good morning everyone. I guess today is the day that I bash US Bank and Radisson Rewards. Earlier this morning, I wrote Problem Solved! Missing US Bank Radisson Rewards Credit Card Anniversary Points Posted. In today’s post, I will tell you to be careful using your US Bank Radisson Rewards Credit Cards internationally and for international purchases because you will be hit with a 2-3% foreign transaction fee (FOREX).
The only reason I am using my (dusty) US Bank Radisson Rewards Credit Cards is because I received a targeted spending offer from US Bank / Radisson Rewards in early May. Doctor of Credit has more details, but the bonus is simple: spend $500 in May, June, and July to earn 20,000 bonus Radisson Rewards points. That was a pretty simple targeted spending promotion, so I brought both of my US Bank Radisson Rewards Credit Cards with me to Tahiti and used them a few times. Unfortunately, I forgot that US Bank / Radisson Rewards charges foreign transaction fees on international purchases, so I racked up a few FOREX fees on my trip :(
Here are the recent transactions on my first US Bank Radisson Rewards Credit Card. As you can see, I made 4 international purchases and was hit with 4 FOREX fees. If you were not paying close attention to your statement, these fees would probably go unnoticed.
I then searched for fees from the last 30 days and I can see that I paid $10.98 in FOREX fees :(
On my second US Bank Radisson Rewards Credit Card, I made 3 international purchases and got hit with 3 FOREX fees.
I then searched for fees from the last 30 days and I can see that I paid $4.89 in FOREX fees :(
I decided to look up the fees for the US Bank Radisson Rewards Premier Visa Signature Credit Card. As you can see, US Bank charges 2-3% foreign transaction fees on all international purchases. This is crazy for a credit card that has an annual fee and is promoted as a travel credit card!
For reference, here are the fees for the US Bank FlexPerks Travel Rewards Visa Signature Credit Card. As you can see, there are no foreign transaction fees on this credit card.
I wish US Bank / Radisson Rewards would remove all FOREX fees on their US Bank Radisson Rewards Credit Cards. It is the right thing to do! If you have any questions about foreign transaction fees on US Bank credit cards, please leave a comment below. Have a great day everyone!
This is not news, they have always charged foreign transaction fees
It may not be new, but US Bank / Radisson Rewards should not charge FOREX fees. They should have no foreign transaction fees like all the other travel rewards credit cards out there.
I agree, it’s not news and I agree, a travel card with FX fees is ridiculous…
Just to clarify, the FX fee is always 3% on foreign currency purchases. The 2% fee applies when you pay in USD abroad. That’s even worse because in addition to the DCC fee of 5+% you get hit with a 2% fee from US Bank – that’s the most hideous policy I’ve ever seen!
That is very true, I never pay in USD outside of the USA :)