For someone who travels out of the US frequently, saving on foreign transaction fees is one of the top priorities when it comes to saving money. Credit cards with no foreign transaction fees will benefit you a lot if you travel abroad frequently and/or do a lot of shopping online in non-USD currencies.
Majority of the credit card companies impose an additional fee whenever you pay using your credit card in a currency other than the US dollar. How much is this foreign transaction fee typically? Well, this ranges from 3-5% of your transaction amount, although there are some cards on the market that charge 2.7% or even 0%...if you pick the right credit card, that is.
Not having to pay this extra fee can save you a solid amount of money in the long run. Case in point, if the current credit card you are using charges a foreign transaction fee of 3% and you purchase something for $5,000, that extra fee you are liable for amounts to a cool $150. Imagine how much money you would have to shell out in the name of foreign transaction fees if you were to use that same card every time you pay for purchases overseas or shop online!
If you travel regularly or if your favorite online retailers are all based overseas, paying so much for foreign transaction fees is certainly not the wisest thing you can do for yourself or your bank balance.
The best thing you can do is to try and avoid this type of fee as much as possible. One easy yet convenient way to do so is to hunt for a credit card with no foreign transaction fees. Not only do you get to save on this fee, using a credit card with such feature is obviously a lot easier than having to deal with exchanging bills.
Below are some of the best credit cards with no foreign transaction fees you can consider if you have been on the lookout for credit cards that are great for international travel.
Best Credit Cards For International Travel (No Foreign Transaction Fee Cards)
|Credit Card||Features||Intro APR||Regular APR||Annual Fee||Why we like it||We least like||Credit Required||Related links|
Chase Sapphire Preferred® Card
17.49% - 24.49% Variable
|Related Links Read our review of Chase Sapphire Preferred® Card or view more details of Chase Sapphire Preferred® Card. See more Chase credit cards.|
Capital One® Venture® Rewards Credit Card
17.24% - 24.49% (Variable)
$0 intro for first year; $95 after that
|Related Links Read our review of Capital One® Venture® Rewards Credit Card or view more details of Capital One® Venture® Rewards Credit Card. See more Capital One credit cards.|
Gold Delta SkyMiles® Credit Card from American Express
$0 introductory annual fee for the first year, then $95.
|Related Links Read our review of Gold Delta SkyMiles® Credit Card from American Express or view more details of Gold Delta SkyMiles® Credit Card from American Express. See more American Express credit cards.|
Bank of America® Travel Rewards Visa® credit card - 25,000 Bonus Points Offer
0% Introductory APR for 12 billing cycles for purchases
16.49% - 24.49% Variable APR
|Related Links Read our review of Bank of America® Travel Rewards Visa® credit card - 25,000 Bonus Points Offer or view more details of Bank of America® Travel Rewards Visa® credit card - 25,000 Bonus Points Offer. See more Bank of America credit cards.|