Best Credit Cards with No Foreign Transaction Fees
When traveling abroad, one important consideration for travelers is the cost associated with foreign transactions. Many credit cards impose fees that can range from 1% to 3% on purchases made overseas, adding up quickly and diminishing the value of your travel experience. Thankfully, numerous credit cards allow travelers to avoid these fees, while also offering great rewards and benefits. Below, we examine some of the best options available.
1. Chase Sapphire Preferred® Card
Annual Fee: $95
Rewards Rate: 2x points on travel and dining at restaurants, 1 point per dollar spent on all other purchases.
The Chase Sapphire Preferred® Card is a top choice for travelers seeking a no-foreign-transaction-fee credit card. With a robust rewards program, users can earn double points on travel and dining, which makes extending your trip more rewarding. New cardholders often enjoy a substantial sign-up bonus, which can cover numerous travel expenses.
Key Features:
- Access to valuable travel protections.
- Points are transferable to numerous travel partners.
- No annual fees for the first year available for new members.
2. Capital One Venture Rewards Credit Card
Annual Fee: $95 (waived the first year)
Rewards Rate: 2x miles on every purchase.
The Capital One Venture Rewards Credit Card is ideal for those who prefer simplicity in earning rewards. Every dollar spent earns you 2 miles, making it easy to accumulate rewards for your next trip. Capital One also makes it convenient to use your miles for travel expenses like flights, hotels, and even car rentals.
Key Features:
- A one-time bonus after spending a certain amount in the first three months.
- No foreign transaction fees allow seamless spending internationally.
- Miles don’t expire as long as your account remains open.
3. Discover it® Miles
Annual Fee: $0
Rewards Rate: 1.5x miles on every purchase.
The Discover it® Miles card stands out with its no-annual-fee structure, making it a budget-friendly option for travelers. The card also offers the unique feature of matching miles earned during your first year, effectively doubling your rewards.
Key Features:
- No foreign transaction fees.
- Miles can be redeemed for cash or travel credits.
- User-friendly mobile app for easy account management.
4. American Express Gold Card
Annual Fee: $250
Rewards Rate: 3x points on dining, 3x points on flights booked directly or on amextravel.com, 1 point on other purchases.
Targeted for foodies and frequent travelers, the American Express Gold Card offers incredible rewards for dining and travel, making it a favorite among many. It also comes with a higher annual fee, but the value can be justified through various benefits.
Key Features:
- Up to $120 dining credit annually at select restaurants.
- Flexible points redeemable for travel or gift cards.
- Comprehensive travel insurance and purchase protections.
5. Bank of America® Travel Rewards Credit Card
Annual Fee: $0
Rewards Rate: 1.5 points on all purchases.
This credit card offers a straightforward rewards program that appeals to everyday users. With no annual fee and no foreign transaction fees, it is a great choice for infrequent travelers looking to build rewards without incurring costs.
Key Features:
- No limit on points earned.
- Points don’t expire.
- Great for cashback redemption.
6. U.S. Bank Altitude® Reserve Visa Infinite® Card
Annual Fee: $400
Rewards Rate: 3x points on travel and mobile wallet purchases, 1 point on all other purchases.
The U.S. Bank Altitude Reserve Visa Infinite® Card may have a higher annual fee, but it is packed with benefits, including comprehensive travel insurance and access to luxury perks. With no foreign transaction fees, it allows for hassle-free purchases while exploring international destinations.
Key Features:
- Up to $325 in travel credit each year.
- Eligibility for a sign-up bonus after initial spending.
- Additional benefits include cell phone protection and concierge services.
7. Citi Premier® Card
Annual Fee: $95
Rewards Rate: 3x points on air travel, hotels, and restaurants, 2x points on entertainment and dining, 1 point on other purchases.
The Citi Premier® Card stands out in the travel rewards space with its flexibility and earning potential. Ideal for a diverse range of spending categories, cardholders can maximize their rewards with strategic purchases.
Key Features:
- Access to Citi’s extensive rewards transfer partners.
- Offers an attractive sign-up bonus.
- No foreign transaction fees.
8. Wells Fargo Propel American Express® Card
Annual Fee: $0
Rewards Rate: 3x points on dining, travel, gas, and streaming services, 1 point on other purchases.
Wells Fargo Propel American Express® Card is budget-friendly, with no annual fee and an excellent rewards structure. It caters well to those who enjoy dining out and traveling, allowing them to rack up points quickly without any extra cost.
Key Features:
- Offers a substantial sign-up bonus.
- Points can be redeemed for travel expenses, gift cards, or statement credits.
- Comprehensive fraud protection ensures security.
Final Considerations
When choosing a card with no foreign transaction fees, consider your spending habits, the types of rewards you value most, and the benefits provided by each card. Compare annual fees, rewards structures, and additional perks to find the most suitable option for your travel needs. Each of these cards can significantly ease your financial burden while traveling internationally, allowing you to focus on enjoying your trip. Always read the terms and conditions to fully understand the privileges and responsibilities that come with each card.
