Credit cards with no foreign transaction fees are most suitable for those of you who often buys things online in a different currency, or who travels outside the US frequently. Most credit card companies charge you an extra fee for paying in a different currency when you purchase something with your credit card.
That extra fee is the foreign transaction fee which you must pay each time you make a purchase with your card in another country or in another currency. This fee is usually 3-5% of your purchase price, so if you buy something expensive, that fee can be a waste of money.
If you are a frequent traveler, this type of fee is something you should try to avoid. One way to do so is to look for a credit card with no foreign transaction fee. We at GET.com have done the research to pick out the Best Credit Cards with No Foreign Transaction Fees in 2017:
Best Credit Cards with No Foreign Transaction Fees
Capital One® Venture® Rewards Credit Card. Apart from having no foreign transaction fees, this travel rewards card by Capital One gives you a one time 40,000 miles (equals $400 in travel) bonus just by spending $3,000 on purchases within 3 months of approval. You can also earn 2 miles per dollar (unlimited) spent on all your purchases, which will help you earn your miles faster! You can travel whenever you want, with no blackout dates. This card also offers many travel benefits such as travel accident insurance, auto rental insurance, lost luggage reimbursement, special discounts at certain hotels and resorts, complimentary concierge service and many others. There is a $0 intro annual fee for the first year; $59 after that. You can read our Capital One® Venture® Rewards Credit Card review here.
Chase Sapphire Preferred® Card. If you want a card that comes with 50,000 signing bonus points, then this rewards card from JPMorgan Chase is the card to go for, as you will earn 50,000 points after spending $4,000 within the first 3 months from account opening. You get 1 point for every dollar you spend on the card and 2 points for every dollar you spend on travel and dining at restaurants all over the world. There is an intro annual fee of $0 for the first year, then $95. Here is our review of Chase Sapphire Preferred® Card.
Discover it® Miles - Unlimited 1.5x Rewards Card has no foreign transaction fee and you get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically. This offer is only for new cardmembers. No purchase caps or minimums. No signing up. And no limit. You earn unlimited 1.5x Miles for every dollar of purchase. You can redeem any amount toward travel purchases on your statement (100 Miles = $1 value). If you prefer, you can also get cash as a direct deposit into your bank account. This card has a 0% intro APR on purchases and 10.99% intro APR on balance transfers for 14 months with a 11.49% - 23.49% variable APR after that intro period. No annual fee. You can see our review of Discover it® Miles - Unlimited 1.5x Rewards Card here.
Discover it® Cashback Match™. This card has a 0% intro APR on purchases and balance transfers for the first 14 months and a 11.49% - 23.49% variable APR after this period. You will also receive 5% cash back up to $1,500 each quarter for purchases you make in quarterly changing categories when you sign up for 5% cash back, and unlimited 1% cash back on all other purchases. This card even increases the value of your Cashback Bonus when you redeem it for gift cards. You can also earn extra cash back when making purchases through the Discover Deals program. As a new cardmember you will automatically get a dollar-for-dollar match of all the cash back you've earned at the end of your first year (this applies only for new cardmembers). This card has no foreign transaction fee. No annual fee. Here is our review of Discover it® Cashback Match™.
Grace Cheng is a seasoned traveler who loves collecting points and miles, and is constantly planning where to go next using her miles. She is co-founder and editor-in-chief at GET.com. Email: email@example.com.Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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