No Foreign Transaction Fee Credit Cards

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If you’ve got international travel on your brain, one of the best ways to avoid being nickel-and-dimed on the go is by choosing a zero foreign transaction fee credit card.credit cards with no foreign transaction fees

Foreign transaction fees are a pain because they are like paying a tourist toll every time your bank has to exchange international currency.

We say enough of that already; it’s 2020, and plenty of credit cards have waived foreign transaction fees. Why use one that hasn’t?

If you plan on jet setting abroad, there’s no reason why you should penalize yourself when there are some great 0% foreign transaction cards on the market.

What is a foreign transaction fee?

A foreign transaction fee is a surcharge incurred when you use your U.S. credit card outside the country.

They typically only become a significant issue during international vacations where you’re swiping your card on the reg.

But, few people know that you can actually be charged a foreign transaction fee when you purchase something online from outside the United States, too.

How do I avoid foreign transaction fees?

Good news, there are many travel credit cards that do not charge foreign transaction fees. That’s because many credit card companies are savvy enough to understand how to earn customer loyalty.

Because so many people travel internationally for work or pleasure these days, it makes sense to remove them as part of an international travel rewards credit card package.

Some issuers, like Capital One and Discover, don’t charge foreign transaction fees at all. Although Discover may not charge foreign transaction fees, they aren’t widely accepted outside of the United States. And, so, there’s a rule of thumb here: You’ll be good using any Capital One card abroad.

 9 Best Credit Cards With No Foreign Transaction Fees

Chase Sapphire Preferred Card

chase sapphire preferred credit card

Annual Fee: $95

Current Rewards Offer: 2X points on restaurants and travel, including tolls, transit, and parking; 1X cash back on all other spendings

Welcome Bonus: Get up to 60,000 bonus points after spending $4,000 in your first three months. This is worth $750 in travel when redeemed through Chase.

Additional International Travel Perks:  Chase partners with over ten international hotels and airlines so you can transfer your rewards to Iberia Air, British Airways, Marriott Bonvoy, and World of Hyatt – to name a few.

Travel Protections and Insurance: Trip Cancellation / Interruption Insurance, Primary Auto Rental Insurance, Baggage Delay Insurance

Learn More: Chase Sapphire Preferred Card Review 

 

Capital One® Venture® Rewards Credit Card

Capital One Venture Rewards credit card

Annual Fee: $95, waived in the first year

Current Rewards Offer: Unlimited 2X miles per dollar on every purchase.

Welcome Bonus: Get up to 50,000 bonus miles after spending $3,000 on purchases within the first three months from account opening. That’s $500 in travel rewards.

Additional International Travel Perks:  Customers get credited a $100 reimbursement for a Global Entry or TSA Pre✓® application fee.

Travel Protection and Insurance:  Trip accident insurance to cover hospital and transportation bills in the event of an emergency. Did someone say rock climbing in Spain? Go ahead, be adventurous. This card has your back.

Learn More: Capital One Venture Rewards Credit Card Review

 

Capital One® VentureOne® Rewards Credit Card

Capital One VentureOne Rewards Credit Card

Annual Fee: $0

Current Rewards Offer: Unlimited 1.25 miles per dollar on purchases.

Welcome Bonus: 20,000-mile bonus when you spend $1,000 on purchases in the first three months of account opening – equal to $200 in travel and hotel rewards.

Additional International Travel Perks: VentureOne® miles can now be redeemed at one of 10+ travel partners.

Travel Protections and Insurance: 24/7 emergency assistance & trip accident insurance

 

Capital One® SavorOne® Cash Rewards Credit Card

capital one savor cash rewards credit card

Annual Fee: $0

Current Rewards Offer: Unlimited 3% cash back on dining and entertainment. 2% cash back at grocery stores. 1% cash back on all other purchases.

Welcome Bonus: $150 cash bonus on your first $500 spent in the first 3 months.

Additional International Travel Perks: Concierge service that delivers personalized assistance in dining, entertainment, and travel, anywhere you are, and any time you want.

Travel Protections and Insurance: 24-hour Travel Assistance Services and travel accident insurance

 

Capital One® Quicksilver® Cash Rewards Credit Card

Capital One Quicksilver Credit Card

Annual Fee: $0

Current Rewards Offer: Unlimited 1.5% cash back

Welcome Bonus: $150 cash bonus after you spend the first $500 on purchases in the first 3 months.

Additional International Travel Perks: Complementary concierge service.

Travel Protections and Insurance: Travel accident insurance and 24-hour emergency travel assistance.

Learn More: Capital One Quicksilver Cash Rewards Credit Card Review

 

Chase Sapphire Reserve

Chase Sapphire Reserve Credit Card

Annual Fee: $550 + $75 for each authorized user

Current Rewards Offer: 3X cash back on travel and dining, in the form of Chase Ultimate Rewards points.

Welcome Bonus: Earn 50,000 bonus points after spending your first $4,000 in three months.

Additional International Travel Perks: Transfer your points to international travel partners like JetBlue, Southwest, and Singapore Airlines. Also, enjoy a complimentary $100 application fee credit for Global Entry or TSA Pre✓®, redeemable once every four years.

Travel Protection and Insurance: $10,000 worth of trip cancellation/interruption insurance, plus baggage delay insurance covers and primary car insurance.

Learn More: Chase Sapphire Reserve Review

 

Petal Cash Back Visa® Card

petal cash back visa card

Annual Fee: $0

Current Rewards Offer: Starts out with 1% cash back on purchases. After 6 months of on-time payments, you’re bumped up to 1.25% cash back, and 1.5% after 12 months of on-time payments.

Welcome Bonus: None

Travel Protection and Insurance: Theft coverage, auto rental collision insurance, and roadside assistance.

 

Wells Fargo Propel American Express® Card

Wells Fargo Propel American Express Card

Annual Fee: $0

Current Rewards Offer: 3X points on restaurants, food delivery, and travel including transportation. Also, 3X on streaming service subscriptions.

Welcome Bonus: 20,000 bonus points after your first $1,000 in purchases in the first three months

Additional International Travel Perks: Flexible Go Far Rewards never expire and can either be redeemed for travel purchases or to buy gift cards.

Travel Protection and Insurance: Lost luggage reimbursement coverage. Cell phone protection covers your device in the event of damage or theft.

 

American Express® Gold Card

American Express Gold Card

Annual Fee: $250

Current Rewards Offer: 4X Membership Rewards® points back for dining and supermarkets; 3X Membership Rewards® points on flights booked directly through the airline or through amextravel.com.

Welcome Bonus: 35,000 Membership Rewards® Points when you make $4,000 in purchases during your first 3 months.

Additional International Travel Perks: Receive an annual $100 airline credit for airfare or any in-flight expenses. Earn $120 in statement credits when you pay with your Gold Card at select restaurant establishments.

Travel Protection and Insurance: Secondary car rental insurance, baggage insurance

 

No Foreign Transaction Fee Credit Card FAQs

How Much Are Foreign Transaction Fees?

Like balance transfers, a typical foreign transaction fee is 3% of the total purchase, give or take. Some issuers, like American Express at 2.7%, charge slightly lower.

Others might charge higher. But 3% is about industry standard.

When Do I Pay a Foreign Transaction Fee?

Since foreign transaction fees are paid by your credit card issuer and not by the vendor you shop at, the fee will not show up on your card until your statement is processed.

To avoid paying additional interest charges, pay for your balance in full, including any foreign transaction fees, either on or before your due date.

Additional Disclosures: Millennial Money has partnered with CardRatings and creditcards.com for our coverage of credit card products. Millennial Money, CardRatings and creditcards.com may receive a commission from card issuers. This site does not include all financial companies or financial offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

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