Killing off a revenue source is rarely a goal for credit unions, but a few are doing just that by nixing the foreign transaction fees on their credit cards.

Foreign transaction fees are typically added to cardholder purchases that are made in a foreign currency or that go through a non-U.S. bank. While they’re still very common, some card issuers appeared to be thinking twice about the fees lately. According to a survey last year of 163 cards from 12 of the largest issuers in the United States, ­­the number of cards that are ditching foreign transaction fees has risen by 80% since 2012, going from 21 to 38.

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Tina Orem


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