A credit card is a must-have when traveling internationally. Not only will it save you from constantly having to convert cash at a bank in a different country, but the right credit card can save you a lot on foreign transaction fees. Foreign transaction fees are added onto your credit card transactions when you’re outside of the US. They’re charged to cover currency conversion fees, and usually cost about 3% of the transaction. Some credit cards — primarily in the travel credit card domain — offer no foreign transaction fees as a benefit. Even if you’re only traveling outside the country once in a while, having this type of card could be worthwhile.
Best overall credit card with no foreign transaction fees
Chase Sapphire Preferred® Card
The Chase Sapphire Preferred® Card has one of the best value propositions of travel credit cards. It starts with no foreign transaction fees, but the rewards program and welcome bonus are also best in its class. Points are worth 1 cent each if you redeem them for a statement credit, but they’ll be worth 25% more if you redeem your rewards for travel booked through the Chase Ultimate Rewards portal. The Sapphire Preferred also includes trip cancellation and interruption insurance, an auto rental collision damage waiver and lost luggage insurance. While many travel credit cards offer some of this coverage, they rarely offer the full spread.
Check out more details in our full review of the Chase Sapphire Preferred Card.
Best welcome bonus with no foreign transaction fees
Discover it® Miles
The Discover it® Miles* card offers an excellent welcome bonus after your first year as a cardholder. All Discover cards have no foreign transaction fees, but this one ensures all your international spending is optimized for rewards — you earn 1.5 miles per dollar on all your purchases. While you don’t have to meet any minimum spending thresholds to unlock this welcome bonus like with most other credit cards, you do have to be patient to earn it. Discover will match all of the miles you earn over the course of the first year at the end of your first year.
A flat-rate travel rewards card
Capital One Venture Rewards Credit Card
Capital One loads the Venture Rewards Credit Card with plenty of travel perks to offset the $95 annual fee. Travel anywhere without any foreign transaction fees and earn 2x unlimited miles on all purchases. In addition, Capital One awards you up to a $100 statement credit for Global Entry or TSA PreCheck to help you speed through the airport lines. Venture Miles earned can be redeemed on flights and hotels or used to pay for Amazon.com and PayPal purchases. You can also transfer miles to over 15 hotel and airline programs.
Check out our full review of the Capital One Venture Rewards Credit Card.
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One thought on “Best Credit Cards Without Foreign Transaction Fees”
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