The 10 Best Credit Cards With No Foreign Transaction Fees!
Discover the best credit cards with no foreign transaction fees, making your international travels hassle-free and cost-effective.
We’ve done the research and compiled a definitive list of the best credit cards that won’t charge you extra for using them abroad – aka., no foreign transaction fees!
So, say goodbye to those bothersome foreign transaction fees that often lurk behind your international purchases.
Now, get ready to unlock the world without worrying about hidden costs. Let’s dive into the realm of fee-free global spending with these top-notch credit card options.
What is the foreign transaction fee?
A foreign transaction fee, also known as a currency conversion fee, is a charge imposed by credit card issuers on transactions made in a foreign currency.
The card issuer applies this fee when you use your credit card to make purchases outside your home country. It is also applied when you purchase in a currency different from your card’s native currency.
This fee typically ranges from 1% to 3% of the total purchase. Moreover, it can quickly add up, especially for frequent international travelers or shoppers.
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How do you choose the right credit card for international travel?
Here are some essential factors to consider when choosing a credit card for your trips abroad:
- No Foreign Transaction Fees: Look for cards that waive the additional charges typically associated with international purchases. save you a substantial amount of money during your travels.
- Accepted Worldwide: Ensure that the credit card you choose is widely accepted in the countries you plan to visit. Visa and Mastercard are generally more widely accepted globally than other card networks.
- Travel Rewards and Benefits: Consider credit cards that offer travel rewards. It can be airline miles or hotel points, as well as travel-related perks. Look for travel insurance, airport lounge access, and priority boarding.
- EMV Compatibility: EMV (Europay, Mastercard, and Visa) technology adds an extra layer of security to credit card transactions, making them more secure.
- Low Annual Fees: Ensure that the benefits and rewards you receive outweigh the annual fee cost.
- Travel Insurance Coverage: Check if the credit card offers travel insurance coverage for trip cancellations, lost baggage, or medical emergencies abroad.
The best credit cards with no foreign transaction fees in 2023: Your passport to savings
To help you choose the best card for your travel needs, we’ve curated a list of the top credit cards with no foreign transaction fees, each offering unique features and benefits.
1. Bank of America® Travel Rewards Credit Card
The Bank of America Travel Rewards credit card is perfect for travelers seeking simplicity, flexibility, and a generous welcome bonus.
Earn unlimited 1.5 points for every dollar spent on purchases, and redeem your points for flights, hotels, rental cars, cruises, and more.
- Annual Fee and Purchase APR: No annual fee; variable APR between 13.99% – 23.99% based on creditworthiness;
- Possible Disadvantage: While the Bank of America Travel Rewards card offers valuable rewards, it may lack some of the premium travel benefits found in higher-tier travel cards.
2. Wells Fargo Propel℠ Card
Earn 3X points on a wide range of categories, including dining, travel, gas stations, and select streaming services.
The card also offers a compelling signup bonus, allowing you to accumulate points rapidly.
Notably, the card provides cell phone protection when you pay your phone bill with the card, potentially saving you money on phone insurance.
- Annual Fee and Purchase APR: No annual fee; 0% introductory APR for purchases and balance transfers for the first 12 months, then a variable APR between 14.49% – 24.99%;
- Possible Disadvantage: While the Wells Fargo Propel Card offers excellent rewards, it may have fewer luxury travel perks compared to higher-tier travel cards.
3. Capital One SavorOne Cash Rewards Credit Card
For foodies and entertainment enthusiasts, the Capital One SavorOne Card is a fantastic choice.
Earn unlimited 3% cash back on dining, entertainment, and popular streaming services and 2% cash back at grocery stores.
Moreover, the card has no annual fee, allowing you to earn rewards without any extra costs.
- Annual Fee and Purchase APR: No annual fee; variable APR between 15.49% – 25.49% based on creditworthiness;
- Possible Disadvantage: While the Capital One SavorOne Card offers compelling rewards on food-related purchases, it may have limited rewards on non-food-related expenses.
4. Chase Sapphire Preferred® Card
The Chase Sapphire Preferred Card is a go-to option for travel enthusiasts who value both rewards and travel protections.
Earn 2X points on dining and travel, and when you redeem your points through Chase Ultimate Rewards, you can enjoy a 25% bonus.
Additionally, the card allows you to transfer points to various airline and hotel partners.
Moreover, you’ll get valuable travel protections, including trip cancellation/interruption insurance and primary car rental insurance, further enhancing its appeal.
- Annual Fee and Purchase APR: Annual fee of $95; variable APR between 15.99% – 22.99% based on creditworthiness;
- Possible Disadvantage: While the Chase Sapphire Preferred Card offers exceptional rewards and benefits, some users may be deterred by the annual fee, which may not be ideal for occasional travelers.
5. Capital One Venture Rewards Credit Card
Straightforward rewards with flexibility. Earn unlimited 2X miles per dollar on all purchases, and redeem your miles for travel-related expenses, such as flights, hotels, and car rentals.
Moreover, the card offers a Global Entry or TSA PreCheck application fee credit, making your travels smoother and more efficient.
With no foreign transaction fees, this is the best credit card to shop and dine abroad without any additional charges.
- Annual Fee and Purchase APR: Annual fee of $95; variable APR between 17.24% – 24.49% based on creditworthiness;
- Possible Disadvantage: The Capital One Venture Rewards Card’s annual fee may not be ideal for occasional travelers who don’t maximize travel-related rewards.
Applying for a new credit card doesn't have to be complicated. Read this post to see how to apply for the Capital One Venture Rewards to earn miles on every purchase.
6. United℠ Explorer Card
If you frequently fly with United Airlines, the United Explorer Card offers an array of travel benefits. Earn 2X miles on United purchases, hotel stays, and restaurant purchases.
Additionally, you can enjoy free checked bags for you and a companion on United flights, priority boarding, and two United Club one-time passes each year.
Moreover, this credit card with no foreign transaction fees offers the best travel protections, such as trip cancellation/interruption insurance and primary car rental insurance.
- Annual Fee and Purchase APR: Annual fee of $95; variable APR between 16.49% – 23.49% based on creditworthiness;
- Possible Disadvantage: The United Explorer Card’s benefits are mainly geared toward United Airlines travelers, limiting its appeal to those who prefer more airline options.
7. Petal® 2 “Cash Back, No Fees” Visa® Credit Card
The Petal 2 Card is one of the best credit cards for those looking to build credit while earning rewards without any annual fees or foreign transaction fees.
Earn cashback rewards based on responsible credit usage, allowing you to earn rewards while building a positive credit history.
Moreover, it has no late fees, making it a forgiving option for occasional late payments. Additionally, it offers a credit limit increase after six on-time payments.
- Annual Fee and Purchase APR: No annual fee; variable APR between 12.99% – 26.99% based on creditworthiness;
- Possible Disadvantage: While the Petal 2 Card offers straightforward rewards and is an excellent option for building credit, it may not have as many rewards and perks as higher-tier credit cards.
8. U.S. Bank Altitude® Go Visa® Secured Card
The U.S. Bank Altitude Go Visa Secured Card is one of the best-secured credit cards with no annual fee and no foreign transaction fees.
Earn rewards on dining, groceries, and streaming services, making it a practical choice for everyday spending.
Additionally, the card provides a credit limit increase after you make your first five monthly payments on time, allowing you to build credit responsibly.
- Annual Fee and Purchase APR: No annual fee; variable APR between 14.99% – 23.99% based on creditworthiness;
- Possible Disadvantage: As a secured credit card, the U.S. Bank Altitude Go Visa Secured Card requires a security deposit, limiting the available credit you can access.
9. Capital One Quicksilver Student Cash Rewards Credit Card
Designed for students, the Capital One Quicksilver Student Card offers straightforward cashback rewards with no annual fee or foreign transaction fees.
Earn 1.5% cash back on all purchases, allowing you to earn rewards on everyday spending. The card is an excellent tool for building credit while enjoying the benefits of cashback.
- Annual Fee and Purchase APR: No annual fee; variable APR between 22.99% based on creditworthiness;
- Possible Disadvantage: While the Capital One Quicksilver Student Card offers practical cashback rewards and credit-building opportunities, it may not have as many rewards and benefits as other student credit cards.
10. Ink Business Preferred® Credit Card
Tailored for business owners, the Ink Business Preferred Card offers robust rewards and travel benefits.
All in all, you’ll earn 3X points on travel, shipping, internet, cable, and phone services, making it an excellent option for business-related expenses.
Additionally, you can transfer your points to various airline and hotel partners for potentially higher-value redemptions.
Furthermore, it provides valuable travel protections, such as trip cancellation/interruption insurance and primary car rental insurance.
- Annual Fee and Purchase APR: Annual fee of $95; variable APR between 15.99% – 20.99% based on creditworthiness;
- Possible Disadvantage: The Ink Business Preferred Card is primarily suited for business expenses, so it may not be the ideal choice for personal use or for individuals who don’t have significant business-related spending.
The Bottom Line: travel smarter with these credit cards!
When selecting the best card for your needs, consider your spending habits, travel preferences, and financial goals to find the perfect fit for your globetrotting adventures.
Remember to use your credit card responsibly to maximize its benefits and enjoy a seamless, fee-free spending experience during your journeys abroad. Have a nice trip!
Next, discover the advantages of savings accounts! Keep reading and learn more!
In this article you will learn about the advantages of savings accounts and also its disadvantages.
About the author / Julia Bermudez
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