Discover the best credit cards with no foreign transaction fees. Find out which credit cards are perfect for travelers looking to avoid extra costs when using cards abroad. Compare features, pros, cons, and why to choose these top options.
Best Credit Cards With No Foreign Transaction Fees
When traveling internationally, one of the hidden fees that can add up quickly is the foreign transaction fee. These fees typically range from 1% to 3% of each purchase made abroad, and they can significantly increase the overall cost of your trip. Fortunately, many credit cards are now offering no foreign transaction fees, which can save you money and make traveling more affordable. In this article, we’ll explore the best credit cards with no foreign transaction fees, their pros, cons, and why they might be the right choice for you.
Top Credit Cards with No Foreign Transaction Fees
1. Chase Sapphire Preferred® Card
Pros:
- No foreign transaction fees.
- Generous sign-up bonus (60,000 points).
- 2x points on travel and dining purchases.
- Points can be transferred to airline and hotel partners.
Cons:
- $95 annual fee.
- High APR on unpaid balances.
Why Choose It: The Chase Sapphire Preferred® Card is perfect for frequent travelers. With 2x points on travel and dining and no foreign transaction fees, it offers great rewards for purchases abroad. Plus, the points transfer to numerous travel partners, offering flexibility and increased value for your travel bookings.
Learn More about Chase Sapphire Preferred® Card
2. Capital One Venture Rewards Credit Card
Pros:
- No foreign transaction fees.
- 2 miles per dollar on every purchase.
- 50,000-mile sign-up bonus after spending $3,000 in the first 3 months.
Cons:
- $95 annual fee (waived in the first year).
- 19.24% to 27.24% variable APR.
Why Choose It: The Capital One Venture Rewards Credit Card is great for those who want to earn unlimited travel rewards on all purchases. The lack of foreign transaction fees and the generous sign-up bonus make it an attractive option for international travelers.
Learn More about Capital One Venture Rewards Credit Card
3. Discover it® Miles
Pros:
- No foreign transaction fees.
- Unlimited 1.5x miles on every purchase.
- First-year cash back match.
Cons:
- No travel-specific perks or lounge access.
- Limited international acceptance compared to other cards.
Why Choose It: For those who don’t want to pay an annual fee, the Discover it® Miles card offers an easy way to earn miles with no foreign transaction fees. You can earn unlimited 1.5 miles per dollar spent, and Discover matches all miles earned during the first year, making it an excellent option for those new to travel rewards.
Learn More about Discover it® Miles
4. The Platinum Card® from American Express
Pros:
- No foreign transaction fees.
- Comprehensive travel benefits (access to airport lounges, concierge service).
- 5x points on flights booked directly with airlines or through American Express Travel.
Cons:
- High $695 annual fee.
- Requires excellent credit for approval.
Why Choose It: If you want premium travel benefits, The Platinum Card® from American Express is a top choice. While the annual fee is high, the extensive travel perks, including no foreign transaction fees and 5x points on travel, make it ideal for frequent and high-spending travelers.
Learn More about American Express Platinum Card®
5. Bank of America® Travel Rewards Credit Card
Pros:
- No annual fee and no foreign transaction fees.
- 1.5 points per dollar on all purchases.
- 25,000 online bonus points after $1,000 in purchases within the first 90 days.
Cons:
- No extra rewards on travel or dining purchases.
- High APR for those who carry a balance.
Why Choose It: The Bank of America® Travel Rewards Credit Card is a great entry-level card for people looking for a simple, no-fee travel rewards card. It has no foreign transaction fees, making it ideal for occasional international travelers who want to earn points without worrying about extra costs.
Learn more about Bank of America Travel Rewards Credit Card
Why Choose a Credit Card With No Foreign Transaction Fees?
When traveling abroad, using a credit card is often the most convenient and safest payment method. However, many credit cards charge foreign transaction fees, which can add up quickly. By choosing one of the best credit cards with no foreign transaction fees, you can save on every purchase made while abroad. These cards are designed to help travelers maximize their spending power and minimize the additional costs that often come with international purchases.
With benefits like generous rewards programs, travel insurance, and access to exclusive travel perks, these cards provide more than just cost savings. Many also offer additional protection for purchases and travel-related expenses, making them a must-have for frequent flyers.
Conclusion
In conclusion, the best credit cards with no foreign transaction fees offer significant benefits for international travelers. Whether you’re looking for rewards, travel perks, or simply a card that won’t charge you extra fees when you spend abroad, the options above provide excellent choices. Chase Sapphire Preferred®, Capital One Venture Rewards, and Discover it® Miles are particularly strong choices, offering valuable rewards and no foreign transaction fees, allowing you to save money while traveling the world. When selecting the right card for you, consider your travel habits and spending patterns to make the most out of your credit card.
