
Pay attention to the changes….
Capital One credit card customers are at risk of not being able to use their funds for international travel following a pending merger with Discover, Daily Mail reported.
“Where you may run into more issues is with international travel because Discover may not be as widely accepted.”
“This injection and volume in the network will help Discover be competitive with the leading network.”
According to Fortune, Capital One and Discover customers shouldn’t worry about too many changes in the meantime, while the approval process will take a while, on top of determining if the deal passes potential antitrust scrutiny from Congress. If the merger goes through, Capital One will be the largest card issuer in the country surrounding outstanding credit card loans, beating out JPMorgan Chase.
For travelers who are looking for other sources of international funds, there are several credit cards that don’t charge foreign transaction fees and have a wide variation of acceptance overseas. The average international fee can range from 3% or more for each purchase made, such as hotel rooms or rental cars. Some credit cards even provide rewards that can be beneficial when back on US soil.
A number of Capital One cards, like its Venture Rewards credit card, are listed. The Venture Rewards was named the best travel reward card, while the Savor Cash Rewards is looked at as the best for dining benefits. Venture X is named for hotel rewards, but the Discover it Miles card was named best for no annual fees – a way to combat the growing percentage fees.
Source: Black Enterprise