I have a student credit card and I’m planning a trip to the U.S. If I use my student credit card for payments while in the U.S., will I be charged a foreign transaction fee on those transactions?
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Yes, there is a good chance that your student credit card will be charged a foreign exchange (forex) fee when making purchases abroad. When used for purchases outside of your home country, the majority of credit cards, including student credit cards, impose a foreign transaction fee or currency conversion fee. These fees usually range from 2% to 3.5%.
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I have HDFC Bank Student ISIC Forex Card, bank charges cross currency markup of 3% on such transactions. Other fees that bank charges are Card issuance Fee: INR 300 per card, Reload Fee: INR 75+GST per card and Reissuance/replacement Fee: INR 100+GST per card