Planning a trip abroad? Escape the burden of extra charges looming over your shopping and other transactions abroad with the best travel credit card with no foreign transaction fee.
One must beware of foreign transaction fees, an unwelcoming companion that usually ranges from 1% to 3% of your purchase amount.
If your hotel bill is $3,000, then you’ll have to pay a potential additional charge of $90.
Embark on a journey of financial freedom and global adventures with our guide to the best no-foreign transaction fee credit cards.
As international travel beckons, these visa cards become your passport to seamless transactions abroad.
Say goodbye to high fees that chip away at your hard-earned money.
Opt for a travel credit card that says no to foreign transaction fees.
Elevate your financial strategy and ensure every purchase contributes to your next exciting journey.
We unveil what credit cards have no foreign transaction fees while highlighting various additional perks offered.
Discover the power of these cards, transforming your overseas experiences into unforgettable moments without the worry of extra charges.
What is a foreign transaction fee?
A credit card foreign transaction fee, typically around 3%, is a surcharge imposed by issuers on purchases made outside the U.S.
Even when opting for dynamic currency conversion and paying in U.S. dollars, this fee may still apply.
The magnitude of these fees typically falls within the range of 2% to 3%. For instance, using a card with a 3% fee to buy a $140 item in London incurs a $4.20 foreign transaction fee, visible as a separate item on your statement.
Importantly, these fees apply abroad and also to online purchases processed internationally.
Notably, issuers like Capital One, Discover, and USAA don’t charge foreign transaction fees on any card, and travel-oriented cards often exempt users from these fees.
However, many credit cards come with international fees, such as card_name foreign transaction fee of 3% and card_name foreign transaction fee of 2.7%.
How much are foreign transaction fees?
The foreign transaction fee, varying from 1 to 3 percent and occasionally reaching 5 percent, hinges on the specific issuer and card.
While a single fee may appear reasonable, the cumulative impact grows as your spending increases.
International travel or purchases from global vendors may expose you to additional credit card fees, such as cash advance fees, ATM fees, and conversion fees, collectively diminishing your purchasing power.
Foreign transaction fees imposed by credit card issuers exhibit significant variation.
Issuers such as Amex and Discover operate on their proprietary payment networks, whereas others like Capital One or Chase utilize the networks of Visa or Mastercard.
Additionally, it is common for an issuer to levy foreign transaction fees on certain cards while exempting others.
Below is a concise overview of the fee structures among several major credit card issuers:
| Credit Card Issuer | Foreign Transaction Fee (%) |
|---|---|
1. Capital One | 0% |
2. American Express | 2.7% |
3. Discover | 0% |
4. Chase | 3% |
5. Citi | 3% |
6. Bank of America | 3% |
7. Wells Fargo | 3% |
8. U.S. Bank | 3% |
9. Barclays | 3% |
10. Synchrony | 3% |
8 Best Credit Cards with No Foreign Transaction Fees
You can now relish your trips without worrying about extra charges. Discover the freedom of international spending with our unique selection of 8 best credit cards with no foreign transaction fees.
From elite travel perks to straightforward cash rewards, these cards redefine the way you navigate the world.
Explore the top choices that cater to your lifestyle and enhance your travel experience without the burden of international transaction fees.
When picking a credit card for your global travels, look for cards that not only waive these fees but also offer rewards aligned with your spending habits.
Travel credit cards often provide additional perks like trip cancellation insurance and airport lounge access.
Check for annual fees, as some high-end cards may charge them despite no foreign transaction fees.
Consider the card’s APR, especially if you might carry a balance.
Tailor your choice based on your specific needs, whether you’re a frequent traveler, student, or business owner.
For example, the card_name suits international travelers, the Discover It Student Cash Back card is ideal for students studying abroad, and the card_name card is a great choice for business owners who frequently travel overseas.
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card_name
Renowned for its travel perks, the card_name stands out as one of the best credit cards with no foreign transaction fees.
Beyond stress-free international shopping, cardholders enjoy a robust rewards program.
With a $95 annual fee, you can earn a generous welcome bonus, 5x points on travel purchased through Chase Ultimate Rewards®, and 3x on dining, online grocery shopping, and select streaming services.
Additional benefits encompass travel insurance, 15+ transfer partners for flexible redemption, and purchase protection.
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card_name
As a stellar credit card option without foreign transaction fees, the card_name shines in the travel credit card arena.
Boasting 2x miles per dollar on every purchase, it provides flexibility in redeeming rewards for various travel expenses.
The card’s simplicity, combined with a sign-up bonus of bonus_miles_full Makes it an ideal choice for those seeking hassle-free travel rewards and no charges on their purchases abroad.
Cardholders can also enjoy $100 credit for Global Entry/TSA PreCheck and travel insurance perks at just a $95 annual fee.
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card_name
The card_name stands out for its straightforward approach to rewards and no foreign transaction fees.
Offering unlimited 1.5% cash back on every purchase, it caters to those who prefer cash rewards without the complexity of categories.
Undoubtedly, it is one of the best no annual fee and no foreign transaction fee credit cards.
Beyond its cash-back benefits and bonus_miles_full, the card ensures a seamless international spending experience with no added fees, travel insurance, and Capital One Entertainment & Travel perks.
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card_name
Regarded as a top luxury travel card, card_name not only waives foreign transaction fees but also provides many exclusive benefits.
From access to over 1,400 airport lounges in the Global Lounge Collection to Hilton Honors & Marriott Bonvoy Gold Elite Status and concierge services, the card offers unparalleled travel privileges.
With an annual fee of $695, cardholders enjoy a substantial welcome bonus of bonus_miles_full And 5x points on flights and prepaid hotels, on up to $500,000 on these purchases per calendar year.
You also get $200 credits for Airline fees, Hotels, and Uber, making it a top-tier choice for wise travelers. Terms Apply**.
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card_name
The card_name is a standout option for international travelers, thanks to its no foreign transaction fees.
With a strong emphasis on travel rewards, cardholders earn 3x ThankYou points on air travel, dining, supermarkets, hotels, and gas stations.
It is an excellent no-foreign transaction fee credit card with flexible ThankYou points that can be redeemed for various travel options.
The card’s welcome bonus of bonus_miles_full
$100 Annual Hotel Savings Benefit, no expiration and limit on points, and other perks, make it a compelling choice for those seeking a well-rounded travel credit card.
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card_name
Tailored for Delta Air Lines enthusiasts, the card_name is a great no international-fee credit card with exclusive Delta perks.
Cardholders earn 2x SkyMiles on dining and Delta purchases.
You also enjoy priority boarding, 20% in-flight discounts, purchase protection, Global Assist Hotline, etc.
The card’s simplicity and focus on Delta-related benefits make it an attractive option for frequent Delta travelers seeking no annual fee and no foreign transaction fee credit cards. Terms Apply**.
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card_name
Ideal for business travelers, the card_name combines robust travel perks with the convenience of no foreign transaction fees.
Cardholders accrue 2x miles on business expenses, United purchases, dining, and more.
You also enjoy complimentary checked bags, priority boarding, and United Club access.
It is one of the best travel credit cards no foreign transaction fee!
With a fantastic rewards structure and travel insurance benefits, it is a valuable asset for those navigating international business travel.
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Chase Sapphire Reserve®
The Chase Sapphire Reserve® is a premier choice for global travelers with its no foreign transaction fees feature.
It elevates the travel experience with an annual $300 travel credit, Priority Pass airport lounge access, and statement credit for Global Entry or TSA PreCheck.
You can also earn 5x points on flights, 10x on hotels, and 3x at restaurants.
Beyond travel, this visa no foreign transaction fee credit card offers perks like- valuable travel protections, DoorDash benefits, and a complimentary Lyft Pink membership, making it a comprehensive choice for frequent travelers.
| Credit card | Uthrive rating | Intro offer | Rewards rate | Annual fee | Learn more |
|---|---|---|---|---|---|
Terms Apply | Rating
4.8/5 | Intro Offer bonus_miles_full | Reward Rates Up to 5x Points | Annual Fees annual_fees | |
Terms Apply | Rating
4.7/5 | Intro Offer bonus_miles_full | Reward Rates Up to 5x Miles | Annual Fees annual_fees | |
Terms Apply | Rating
4.6/5 | Intro Offer bonus_miles_full | Reward Rates Up to 5% Cashback | Annual Fees annual_fees | |
Terms Apply | Rating
4.8/5 | Intro Offer bonus_miles_full | Reward Rates Up to 5X Membership Rewards® Points | Annual Fees annual_fees | |
Terms Apply | Rating
4.4/5 | Intro Offer bonus_miles_full | Reward Rates Up to 3x Points | Annual Fees annual_fees | |
Terms Apply | Rating
4.8/5 | Intro Offer bonus_miles_full | Reward Rates 1x - 2x Miles per dollar | Annual Fees annual_fees | |
Terms Apply | Rating
4.2/5 | Intro Offer bonus_miles_full | Reward Rates 1x - 2x Miles | Annual Fees annual_fees | |
Terms Apply | Rating
4.2/5 | Intro Offer bonus_miles_full | Reward Rates Up to 10x Points | Annual Fees annual_fees |
Conclusion
Using a credit card outside the U.S. can come with extra charges, typically around 2 to 3%. But not all cards have these fees.
Some credit card issuers provide cards without annual fees, and some don’t charge foreign transaction fees.
When traveling abroad, it’s smart to have a credit card that doesn’t hit you with extra fees, saving money for your next adventure!
Opting for a credit card with no foreign transaction fees offers several advantages.
Firstly, it provides peace of mind by eliminating surprise charges on your bill, especially crucial when making numerous purchases in different currencies.
Secondly, using a credit card avoids the risks associated with carrying cash or using a debit card, offering protection against theft and unauthorized charges.
Additionally, you can enjoy high-reward earnings without the worry of fees diminishing your rewards.
With better exchange rates from Visa or Mastercard, you save on currency conversion costs.
Finally, staying organized becomes simpler as all expenses are consolidated on your credit card, eliminating the need to track various payment methods or currency exchange fees.
FAQs
Which credit card doesn’t charge foreign transaction fees?
Which credit card has lowest foreign transaction fee?
When do you pay foreign transaction fees?
Foreign transaction fees are typically incurred when making purchases in a foreign currency or with a foreign merchant. They appear on your credit card statement.
Which travel rewards card is best for international transactions?
How do you determine if your existing credit card charges a foreign transaction fee?
Review your credit card’s terms and conditions, check the online portal, or contact the card issuer to confirm whether foreign transaction fees apply to your card.
How do I calculate a foreign transaction fee?
Foreign transaction fees are typically a percentage of the transaction amount, often around 3%.
To calculate, multiply the transaction amount by the fee percentage.
Which banks have no foreign transaction fees?
Banks offering credit cards with no foreign transaction fees include Capital One, Discover, Chase, and others. Verify specific card details with the respective banks.
Does American Express charge foreign transaction fees?
Does Capital One charge foreign transaction fees?
Does Citi Double Cash Card have foreign transaction fees?
The card_name typically charges 3% foreign transaction fees. Cardholders should be aware of these fees when using the card internationally.
Are foreign transaction fees tax deductible?
Foreign transaction fees are generally not tax-deductible for personal expenses. However, business-related international transactions are tax deductible.
You must consult with a tax professional to explore potential deductions on that.
