Save Money Abroad: Top Credit Cards with No Foreign Transaction Fees
When traveling internationally, it’s essential to consider the costs associated with using your credit card abroad. Foreign transaction fees can add up quickly, but choosing a credit card with no foreign transaction fees can help you save money.
Why No Foreign Transaction Fees Matter
Foreign transaction fees typically range from 1% to 3% of your overall purchase, and they can apply to both in-person and online transactions. If you’re planning a two-week vacation abroad, a 3% foreign transaction fee could add $75 to your total bill. By choosing a credit card with no foreign transaction fees, you can avoid these extra charges and keep more money in your pocket.
Top Credit Cards with No Foreign Transaction Fees
We’ve compiled a list of top credit cards that offer no foreign transaction fees, along with their benefits and features.
Capital One Savor Cash Rewards Credit Card
Earn 3% cash back on food, entertainment, and other purchases abroad, with no annual fee. This card is ideal for travelers who enjoy trying new restaurants and experiences.
Chase Sapphire Preferred
With a $95 annual fee, this card offers great redemption value for international travelers. Earn points in various categories and redeem them for travel, or transfer them to one of Chase’s 14 partner airline and hotel loyalty programs.
Capital One Venture X Rewards Credit Card
This premium travel card offers a lower annual fee than some competitors, with benefits like a $300 annual travel credit and miles that can be redeemed for travel bookings.
Chase Sapphire Reserve
If you travel frequently, this card’s high annual fee may be worth it for the benefits, including a $300 annual travel credit, airport lounge access, and travel insurance.
Capital One QuicksilverOne Cash Rewards Credit Card
This credit-building card offers 1.5% cash back on all purchases, with no foreign transaction fees. It’s ideal for those who want to earn rewards while building their credit.
Wells Fargo Autograph
This no-annual-fee card offers a long list of rewards categories, making it a great option for those who want a card that can be used both internationally and at home.
What to Consider When Choosing a Credit Card
Before applying for a credit card, consider the following factors:
- Qualification requirements: Check your credit score and make sure you can qualify for the card.
- Welcome offer: Look for a card with a great welcome offer that fits within your budget.
- Rewards: Choose a card that rewards your regular spending habits.
- Travel protections: Consider a card with travel benefits like trip cancellation insurance and rental car insurance coverage.
Tips for Using Your Credit Card Abroad
- Know your credit card network: Visa and Mastercard are generally more widely accepted internationally than American Express or Discover.
- Bring some cash: Have some local currency on hand for peace of mind.
- Avoid dynamic currency conversion: Opt to have your card network convert the foreign currency instead of the merchant.
By choosing a credit card with no foreign transaction fees, you can save money and enjoy your international travels without worrying about extra charges.
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