I just read the new depository agreement and disclosures amendment.  Has it been addressed that USAA is now charging foreign transaction fees on credit card usage overseas?  And of course it is hidden, and not on page one, where they discuss KEY CHANGES.  Sounds like a key change to me.  What a sleezy way to conduct business!  Isn't charging for foreign transaction fees THE MAIN REASON why they changed credit card companies a year or so ago?????  We are military people.  Many of us go overseas alot during our careers.  A foreign transaction fee for a company that caters to the military is BOGUS.  if you are impacted may i suggest Navy Federal CU.  They have No foreign transaction fees.

USAA is a real piece of work.  I'm just waiting for three years of no accidents so I can go to another company,  and then they are history to me!!!!  (45 years, 3 claims)


@Icarus, thank you for taking the time to share your concerns regarding foreign transaction fees on credit cards. When a merchant processes a transaction in foreign currency, Visa or American Express will convert the transaction back into U.S. dollars; however, there are no currency conversion fees when converting to U.S. dollars. I hope this helps. Thank you. - Rhonda 


Actually your reply doesn't help me.  You proceeded to confuse the issue further with my small mind.  There are Currency transfer fees and credit card transaction fees.  Two different things. The new brochure states that USAA will charge, not a currency transfer fee, but a credit card transaction fee of 1%.  This new fee will be added to your bill on every credit card transaction you make overseas and has nothing to do with currencys...this is a new fee that was NOT charged before. 

And by the way, the credit card web page still says there is no credit card transaction fee.  The brochure we received in the mail states that the new credit card transaction fee will be implemented on Sept 17...it's Sept 20 now.  One of those is wrong, hence the confusion...

Thanks for pointing this out! I recall USAA specifically went from Mastercard to Visa as a means to avoid this charge for its memebers, as you observed. Really, the main reason I have still have the USAA Visa card is to avoid the foreign transaction fee (my wife and I run a small charity in Honduras and pay for most things as we go via credit and debit cards). I did not review the latest discalimer, having fallen into the old habit of thinking USAA was still a company of honor and integrity, so I'm gald I noticed your posting (and their typically lame reply!).


As of the other week we have fully divested from USAA on the insurance side (I'm a 36 year member), switching to GEICO and receiving lower premiums (I'm so disappointed with USAA I was willing to pay higher premiums!). I can't think of a single reason to remain with USAA anymore unless you're into horrible interest rates on savings, average premiums on insurance, deteriorating customer service, disingenuity , and BLM activism!

@Reid and Icarus, Agree with both of you with the reason why USAA moved from Visa to MC about four years ago. They pitched it as the best thing for members, especially the foreign transaction fee going away. Unfortunately, a couple things started making it unattractive. I started getting transaction disapprovals every time I traveled to Europe (even though they new I would be traveling during specific periods), pending transactions would take several days to post on USAA's website, and transaction notifications would take time to hit my cellphone. This made even more difficult if you tried to report a suspicious transaction to USAA. Their thought would be that you were ok with it since you did not immediately report it to us. It also seems that USAA became less helpful in removing fraudulent charges. No my friends, I'm sure a lot of members will be very irritated by this move. Fortunately, I closed my credit card with USAA when the items above started happening. NFCU's offerings were much better then, and still are to this day.