Target Complaint - Target Visa now charges foreign transaction fees for US dollars too
I recently had a transaction that I made through Paypal.com in US dollars. Paypal is a US based organization. Paypal accepts payments in US dollars and charges you when you make the payment to convert to a foreign currency when applicable. Imagine my surprise to receive a 3% foreign transaction fee from my Target VISA card for this same transaction even though the charge was made in US dollars through a US company? And worse, when I called Target Visa customer service, they could not even explain the fee or what it was for properly. I did at least find online articles through google search that explained that credit card companies are now increasing revenue by charging international transaction fees if there was ANY foreign bank involved even if the transaction was in US dollars. So translated, it doesn't cost them more but in this case cost me TWICE for the same thing - once through Paypal and once through Target. Is it me or does it not seem legal to charge a fee when no service was rendered? I wonder if a class action suit will pop up in the future for "fees" such as this that are pure profit. And if this is legal, then I sure hope someone wakes up and changes the law.