Credit Cards with no Foreign Transaction Fee for those who Travel

When travelling abroad, one more hassle is added to the language barrier, dealing with unusual situations, and cultural differences: local currencies. In the past, travelers used to stop by a local foreign exchange office just after the airport gate and exchanged some of their money to local currency, being ripped off by fees and unfavorable exchange rates in the process.

Today it has been proven many times that the most cost effective way to exchange money while travelling is by just by using your credit card for all foreign purchases. The exchange rate that your card will offer you is determined by VISA or MasterCard payment systems and is much better than any local exchange offices will ever offer you.

The only big bump on the road is a foreign transaction fee (commonly around 3%) that most U.S. credit cards charge for every foreign purchase. Luckily, there is a good choice of cards that do not charge any FX fee. Have a look at our list of our best credit cards for international travel:

intro purchase APR no intro offerregular APR14.49 - 23.49% (V)
intro BT APR 14.49-23.49% 3% BT fee $5 min
rewards 1-3 points/$1 +30,000 points
  • earn 2x points on dining, entertainment
  • 3x points on Air travel, hotels, travel agencies
  • 1 point\$1 on all other purchases
  • get 30,000 points after spending $3,000 in the first 3 months of the card

 

excellent required

$95 annual fee, waived for 1st year

30,000  bonus points 

1/2/3 points per dollar on different purchases

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intro purchase APR no intro offerregular APR24.99 - 24.99% (V)
intro BT APR 24.99% no BT fee
bad credit / no credit required

no annual fee

bad credit or no credit 

25 days grace period

$49-$200 security deposit

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intro purchase APR no intro offerregular APR13.49 - 23.49% (V)
intro BT APR 13.49-23.49% no BT fee
rewards 2% per dollar +40,000 miles bonus
  • earn 2x miles on all purchases
  • get 40,000 miles bonus after spending $3,000 on a card in the first 3 months
  • redeem easily as a statement credit towards any travel expenses
good credit required

no first-year annual fee, $59 after

40,000 miles welcome bonus

2x miles on everything

Visa Signature status

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intro purchase APR n/aregular APR9.24 - 18.00% (V)
intro BT APR n/a 9.24-18%
rewards 1 point/$1 with no limit
bad credit / no credit required

no annual fee

1 point per dollar rewards

low APR

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intro purchase APR no intro offerregular APR8.99 - 17.99% (V)
intro BT APR 4.99% for 12 Months 8.99%-17.99%
rewards +$100 statement credit 

no annual fee

no BT fee

read review

In short, all Capital One credit cards do not charge any international transaction fee, along with some travel credit cards from Bank of America, Chase, Barclay’s, and Citi. You cannot go wrong with any of these offers. Just pick the one that caters better your needs.

Consider cards’ sign-up bonuses, regular rewards rate, annual fee, and credit level needed to apply.

It is advised that you do not use AmEx or Discover cards, despite that some of the AmEx cards don’t charge you an FX fee. These cards are not as widely accepted abroad as VISA or MasterCard and chances are you can stack somewhere without the ability to pay with your plastic.

It is also good to know that many VISA and Master Card credit cards offer you these essential travel benefits:

  • Cover rental cars collision damage
  • Medical evacuation expenses
  • And other useful travel perks (call the bank or read your card terms and conditions – usually it depends on your card status level)

 

Yet another good piece of advice is to call a bank in advance to inform them what locations are you travelling – it can prevent triggering an unusual transaction flag and the blocking of your card when you need it most.



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