Bilt Cardholders Getting Charged 0.2% for Foreign Transactions
Bilt 2.0 cardholders have been quietly charged a 0.2% fee on foreign transactions, despite the card being marketed as having no foreign transaction fees. The story was first covered by Frequent Miler.
This appears to be a currency conversion fee from Mastercard charge that other card issuers on the same network simply cover themselves. What makes this particularly notable is that the discrepancy only shows up on statements for the newer Bilt 2.0 card, not older Bilt cards or other Wells Fargo products, suggesting the issue could be Cardless. However it’s not clear if other Cardless cards are also charging this fee.
While 0.2% may seem minor, the principle matters. Cardholders were promised zero foreign transaction fees and fees could add up for someone using the card aboard extensively. There are also discrepancies between what the app shows, which matches the Mastercard currency converter, and what the statement shows with an extra 0.2% fee.
Bilt has now given a statement to at least one redditor via email:
“We are aware of the questions surrounding final transaction amounts for foreign transactions and are actively reviewing this matter with our card partners that manage the program. There should be no change to foreign transaction fees vs. the 1.0 card, and if any fees have been added, we will ensure our partners refund them. We will communicate when we have more information.”
