[TulliusCicero]

If you're American, there are cards that don't have a foreign transaction fee, like the Capital One Quicksilver Visa or Chase Amazon Visa.

Schwab's checking accounts are also great for this, the ATM card reimburses ATM fees and has no foreign transaction fee for pulling out cash.

[dboreham]

Pretty much all the airline cards have zero foreign currency fees. They still have less than perfect exchange rates though.