Rapid Travel Chai

I received a mailing from Bank of America that they have eliminated the foreign transaction fee, effective immediately. This applies to the both the $90 annual fee Virgin Atlantic Black Card and the lesser-know $49 annual fee Virgin Atlantic White Card. (The primary differences between the two cards are larger sign-up and anniversary bonus for Black, as well as 1.5 miles per dollar everyday spend for Black to 1 for White.)

Both Virgin cards are MasterCard World Elite with benefits useful overseas, such as World Elite Hotels & Resorts, see all benefits here.

It is a pure money grab and insult to the intelligence of customers to market cards for international travel, in this case an international airline, and ding cardholders for foreign transaction fees. Think how long the otherwise excellent SPG cards were a terrible option to pay for international SPG stays. Good to see another card drops the garbage fee.

Bank of America is a laggard in removing foreign transaction fees. Alaska is 3%, Asiana is 1%, Spirit is 30% (just kidding, it is 3%), etc. Let’s not forget the dynamo cruise line cards for Norwegian Royal Caribbean with 3% fees, though no annual fees. Celebrity has no foreign transaction fee, but packs a a $69 annual fee, which Norwegian does not. The new Amtrak cards both have no foreign transaction fee.