Capital One Venture card - is it worth the annual fee?

[Jessnc]

I'm trying to work on the financial aspect of my trip (I already looked through this thread)and I'm not sure if I should apply for the Venture card or not. The only benefit I see is the no transaction fees. It would take forever on my limited income to spend the amount of money that would allow me to practically redeem "miles." The annual fee is waived the first year but $59 each year after that. I currently have a AAA Visa card, which I don't really receive benefits from and I have a Discover card which isn't as widely accepted; though I just spoke with a rep and they said that Discover does not have any foreign transaction fees.

I plan on just using cash for food, transportation and entry fees for touristy things. I will probably be opening a bank account in the UK for the time that I am there to try to avoid fees, and hopefully get an ATM card through that bank. I do want to start booking flights and hostels online though, using a credit card. Any suggestions or experience with the Venture card?

[BucknellAlum]

I got a Capital One venture card before I went overseas. It had the best availability and no transaction fees. You really have to be careful about that one. I had called my Chase Visa and there was going to be something like 3% fee on every transaction.

Also check your bank here in the US if you plan on using an overseas ATM. "Foreign transaction fees" sometimes means just an ATM transaction at a bank other than your own. Overseas can be something else entirely.

[Meganator]

I strongly recommend that you get a Capital One card of some type, to save the transaction fees, but the Venture card isn't the only option. You can call them or try to do a little internet research to see if they have another card that has lower fees.

But note that I think that withdrawals from an ATM using any type of credit card, including C1, are billed as cash advances, to the best of my knowledge; that results in additional fees unrelated to the foreign transaction fee. You may want to open a C1 bank account so that you can get a debit card for ATM withdrawals.

[wallycat]

Plain old Capital One (not Venture) has no annual fee (at least not when we signed up) and has no international added fees.
There is one other card that also does this...I will try to do a search and post later on ratings/listings of best cards for what reason you may want them.

[ChristieinMB]

I considered that one before I moved to Mexico, I got the Chase Saphire card with no FTF. I can also use my USA ATM card at several banks here with no fee. Also have a Schwab ATM card that has no charges.
Do some searching online to find what works for your area. There is also an expatforum you can go to ask question of other expats in your area.

[MaryMac]

I just got a Capitol One, not the Venture card for my trip to Africa. I'm not paying the yearly fee. My son has checked into all the cards and Cap One is the only without international fees...everyone has 3%. The Cap One card also has an annual cash back of 1%.

As for opening an account in Scotland, it seems like my daughter had a little trouble with that. I think they required she had a permanent address in the UK. She's in Uganda right now, but I'll send her an email and get back with you on that.

[ChristieinMB]

Here is one site that discusses cards

http://www.nerdwallet.com/blog/top-c...e-credit-card/

[MaryMac]

I just got an email back from my daughter. She confirmed that you do have to have a permanent address in the UK to open a bank account. She did use my cousin's address and I'm sure he had access to the account. (He has always been like an uncle to her.) The other classmates that were there did not/could not open an local account. Other than that anytime my daughter has been overseas she just uses the ATM and makes withdrawals from her bank here.

What she has done this time is only have enough money in her checking and a small amount in savings in case someone hacks into her account.

I must be old but it amazes me that she can go to the ATM in the small town she's staying in and get cash. Even more that she can send me a text from the banks of the Nile to tell me she just went bungee jumping. Yes, I'm happy that she didn't share that information until after the event.

[donleyk]

FWIW~ This thread brought up an excellent point for me since we are travelling to Australia this year. I ended up calling my credit union and asked about FTF. They waive them.

The nerdwallet link really helped. Thanks for posting.

[Jessnc]

Thank you everyone for the input! I think what I am going to do is find a bank that has the lowest fees and use a debit card. I might need a visa or mastercard for online purchases (bookings) though, if they won't take Discover. I"m checking out the other Capital One options now. I'll be so glad once I have everything figured out and I can just enjoy my time abroad!

[luv2cook]

Okay. I will be the first to tell you that I suck with numbers and ability to understand math. However, I was looking at the Bank of America rewards travel card and if I am reading it right, it says 24.9% for cash advances....Am i reading that right?

Bc i want a credit card or some way to get money if I run out while on my vacation.

Does anyone have any suggestions?

OH, and another stupid Q. never mind. I am not asking it.

[ChristieinMB]

I have a BofA card with my checking account, I think most banks charge a lot for cash advances (not your own money). I never use my card because they have a high FTF.

If you run out of cash, can you just charge stuff on your vacation, paying then balance when you get home?

[luv2cook]

I have a BofA card with my checking account, I think most banks charge a lot for cash advances (not your own money). I never use my card because they have a high FTF.

If you run out of cash, can you just charge stuff on your vacation, paying then balance when you get home?

Don't want to pay the transaction fees. Got killed when I did that before...