You may think that European vacation you took a few years ago was worth every penny, but there are some plaintiffs' lawyers who beg to differ. If you used certain Visa, MasterCard or Diners Club cards for transactions in a foreign country between February 1, 1996 and November 8, 2006, there's a class action lawsuit that says you were overcharged from one to three percent in foreign transaction fees.
If you fall into this class, you likely received a claim form in the mail recently. If you qualify for the class but disregarded the letter or somehow fell through the cracks and didn't get notified, you can request a claim form from the class action website. You have until May 30, 2008 to submit your claim.
There are three reimbursement options:
- A flat $25 reimbursement for which you don't have to supply records;
- A maximum of one percent of transactions if you can estimate your foreign spending and the number of days you spent outside the U.S.; or
- A one-to-three percent refund if you can quantify your foreign spending by card and by year.
So, if you've spent $10,000 in foreign countries over the class period, you could be eligible for as much as a $300 refund. Consider this one of those rare times you're happy you spent so much on your vacation.