If you made a credit card purchase overseas, you may be eligible for a refund. As a result of a class action lawsuit filed against MasterCard, Visa and Diners Club, you may receive a refund of the 3% foreign currency conversion fee that was charged on those transactions.
Credit card issuers have since included a clause in your card holders’ agreement to specify the amount of this fee. However, the settlement that was reached penalizes card issuers that did not provide ample notice of this fee.
Travelers with substantial overseas purchases may receive a higher refund if they can substantiate their claim through a questionnaire. ATM withdrawals also qualify. Otherwise, you may opt for the simpler $25 refund.
Eligible recipients must have traveled abroad and made foreign purchases or ATM transactions. These transactions must have been made between February 1, 1996 and November 8, 2006.
If you did not receive a notice, you may call (800) 945-9890, or go online at www.ccfsettlement.com to request your refund. Requests must be received by May 30, 2008.
