Foreign Transaction Fee's are BOGUS

http://www.ccfsettlement.com/

So I must admit that I rarely read my snail mail. I check my mailbox to collect my weekly copy of the economist and then trash pretty much everything else. I get lots of useless junk mail, credit card offers and who knows what else is in there. Thanks to the wonders of e-statements and e-billing I pay everything automatically and just watch for important looking stuff.

Before my mother objects - YES - I do read the random cards sent to me ;-)

Today, I was surprised when I found an envelope labeled "US District Court Approved Refund Notice". I never object to refunds and I try to read everything that comes from a court.

It turns out that someone finally setup a class action suit against the banks and credit card companies that have been gouging us business travelers over the last couple of years. Every time I paid for anything on my credit card/debit card I would find a matching charge (above the comission) that usually was screwing me for an extra 3-6%.

Over the last couple of years I have done some pretty insane international travel. This has created some pretty insane international credit card bills and thus some very screw-worthy international transaction fee's.

I am really glad someone finally took the banks to task for their dumb fee practices. Clearly the 6 figure bonuses they were paying their bankers have to come from somewhere, hopefully not from me ;-)

Go check your mail and make sure you collect on the settlement