12
NovemberBest Credit Cards With No Foreign Transaction Fees for November 2022
id="article-body" class="row" section="article-body" data-component="trackCWV">
A credit card is a must-have when traveling internationally. Not only will it save you from constantly having to convert cash at a bank in a different country, but the can save you a lot on .
Foreign transaction fees are added onto your credit card transactions when you're outside of the US. They're charged to cover currency trading Trendo (click the next document) conversion fees, and usually cost about 3% of the transaction. Some credit cards -- primarily in the domain -- offer no foreign transaction fees as a benefit. Even if you're only traveling outside the country once in a while, having this type of card could be worthwhile.
Best overall credit card with no foreign transaction fees
5x on travel purchased through Chase Ultimate Rewards®
3x on dining.
2x on all other travel purchases, plus more.
5x on travel purchased through Chase Ultimate Rewards®
3x on dining.
2x on all other travel purchases, plus more.
Our Take
The Chase Sapphire Preferred® Card has one of the best value propositions of travel credit cards. It starts with no foreign transaction fees, but the rewards program and welcome bonus are also best in its class. Points are worth 1 cent each if you redeem them for a statement credit, but they'll be worth 25% more if you redeem your rewards for travel booked through the Chase Ultimate Rewards portal. The Sapphire Preferred also includes trip cancellation and interruption insurance, an auto rental collision damage waiver and lost luggage insurance. While many travel credit cards offer some of this coverage, they rarely offer the full spread.
.
Best welcome bonus with no foreign transaction fees
Earn unlimited 1.5x Miles for every dollar spent on all purchases - with no annual fee.
Earn unlimited 1.5x Miles for every dollar spent on all purchases - with no annual fee.
Our Take
The Discover it® Miles* card offers an excellent after your first year as a cardholder. have no foreign transaction fees, but this one ensures all your international spending is optimized for rewards -- you earn 1.5 miles per dollar on all your purchases. While you don't have to meet any minimum spending thresholds to unlock this welcome bonus like with most other credit cards, you do have to be patient to earn it. Discover will match all of the miles you earn over the course of the first year at the end of your first year.
A flat-rate travel rewards card
Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
Earn unlimited 2X miles on every purchase, every day.
Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
Earn unlimited 2X miles on every purchase, every day.
Our Take
Capital One loads the Venture Rewards Credit Card with plenty of travel perks to offset the $95 annual fee. Travel anywhere without any foreign transaction fees and earn 2x unlimited miles on all purchases. In addition, Capital One awards you up to a $100 statement credit for to help you speed through the airport lines. Venture Miles earned can be redeemed on flights and hotels or used to pay for Amazon.com and PayPal purchases. You can also transfer miles to over 15 hotel and .
Check out our full review of the .
Travel card with no annual fee
Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire.
Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire.
Our Take
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
The Bank of America® Travel Rewards credit card doesn't come with foreign transaction fees or an annual fee. You'll earn 1.5 points for every dollar you spend, with no limit. The introductory APR offer can provide you with some wiggle room to spread out your card payments without incurring interest charges.
See our full review of the for more information.
For building credit while overseas
Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
Earn unlimited 1.5% cash back on every purchase, every day
Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
Earn unlimited 1.5% cash back on every purchase, every day
Our Take
Most cards with low fees and perks are reserved for individuals with stellar credit. The Capital One QuicksilverOne Cash Rewards Credit Card fills an important gap by giving people with limited or fair credit a chance to get started or build with responsible use. Use this card wisely -- you'll automatically get considered for a credit limit increase as soon as six months from approval, potentially boosting your credit score. Spend wisely, enjoy the cash back, make your payments on time and take advantage of unlimited access to your credit report through CreditWise. You'll start to see over time how good financial decisions can impact your credit.
Best travel rewards with no annual fee
Earn unlimited 3X points on restaurants, travel, gas stations, transit, popular streaming services and phone plans. Plus earn 1X points on other purchases
Earn 1X points on other purchases
Earn unlimited 3X points on restaurants, travel, gas stations, transit, popular streaming services and phone plans. Plus earn 1X points on other purchases
Earn 1X points on other purchases
Our Take
While most travel credit cards focus on flight and hotel purchases, the Wells Fargo Autograph Card also provides rewards on purchases of taxis, subways, tolls, restaurants, phone plans and gas stations. You earn the standard 3x rewards rate on all of those categories plus popular streaming services. Plus, you can earn 1x points on other purchases.
The welcome bonus is also more generous that what you'll get from most credit cards with no foreign transaction fees or annual fee though it does come with a higher spending threshold. For a limited time, you can earn 30,000 bonus points -- worth a $300 cash redemption value -- when you spend $1,500 in purchases in the first three months (offer expires 1/10/2023).
For more information about this card's offer, see our .
For those who travel infrequently
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate.
Earn 1% unlimited cash back on all other purchases - automatically.
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate.
Earn 1% unlimited cash back on all other purchases - automatically.
Our Take
The Discover it® Cash Back* card is a bit high-maintenance and best for occasional overseas travelers. It doesn't have any travel perks beyond no foreign transaction fees. And the rewards program features a rotating rewards category that aren't particularly travel-oriented, like grocery stores, gas stations and Amazon.com. You're required to manually activate the rotating category through your account each quarter to earn 5% cash back for up to $1,500 in spending (then 1%).
For Oct. through Dec. this year, the rotating category includes all Amazon.com purchases and purchases made using a digital wallet. For orders through your smart device, simply select to pay via the Apple Pay, Google Pay, Garmin Pay or Samsung Pay app.
The Discover it Cash Back also offers the Unlimited Cashback Match welcome bonus. For more information, see our .
A great everyday card for a $95 annual fee
Earn 3 Points per $1 spent at Restaurants and Supermarkets
Earn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
Earn 1 Point per $1 spent on all other purchases
Earn 3 Points per $1 spent at Restaurants and Supermarkets
Earn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
Earn 1 Point per $1 spent on all other purchases
Our Take
The Citi Premier Card and the Chase Sapphire Preferred Card have the same $95 annual fee. The Citi Premier Card offers higher reward rates on everyday spending categories as well as general travel purchases, however. You'll earn 3x points on air travel, hotels, restaurants, gas stations and supermarkets. If you redeem your points as a statement credit via Citi's thankyou.com website -- instead of directly through your online account, which will result in a lower redemption rate -- your points will be worth 1 cent each.
And the welcome bonus is among the best available, though the spending threshold is on the higher side: 80,000 bonus points -- worth $800 in gift cards at thankyou.com -- when you spend $4,000 in the first three months. And, of course, there are no foreign transaction fees.
For more information, refer to our .
Tips for using a credit card when traveling internationally
Before you get on an airplane, there are a few steps you should take:
If you have a mag stripe card, request a chip credit card from your card provider in advance of your trip.Set up a travel alert with your card issuer to notify them of what countries you will be visiting or your card may be flagged for fraud.Take two credit cards and keep them in separate places, in case your wallet is lost or stolen.
Sign up for email or text alerts about charges to monitor your card purchases.
Use a credit card with no foreign transaction fees.
If your card has no transaction fees and you're prompted to choose the payment currency, choose to pay in local rates instead of dollars -- you'll get your bank's wholesale exchange rate, which would be more favorable than the merchant's.
Get familiar with the exchange rate for the country you're visiting so you have an idea of how much you're actually spending.
FAQs
What are foreign transaction fees and when are they charged?
Card issuers or banks charge foreign transaction fees to cover the cost of exchanging a purchase from the foreign currency to US dollars. If you make a purchase in foreign currency, it's likely you will be charged for the conversion unless you have a no-transaction-fee credit card.
One way to avoid having to pay a foreign transaction fee when you're traveling abroad is to choose to pay in US dollars. Many store credit card terminals will recognize your foreign card and prompt you to choose whether you'd like to pay in the local currency or US dollars. If you choose local currency, you may have to pay your bank or card issuer the transaction fee to exchange it. However, if you choose to pay in US dollars, there is no conversion to be performed.
Keep in mind that if you choose to pay in US dollars, you may save on the transaction fee but the foreign merchant bank may still tack on a commission for the exchange. The best way to avoid unnecessary fees is to pay with a credit card with no transaction fees.
Which credit cards work worldwide?
Mastercard, Visa, American Express and Discover are the four major . Visa and Mastercard are the two most widely accepted credit cards across the world and your best bet if you intend on traveling overseas and paying for goods with a credit card.
American Express may be popular in the US, but it's not as widely accepted abroad. Discover is even less accepted than American Express outside of the US. To be safe, it's a good idea to carry a Mastercard or Visa as a backup if your primary card is an American Express or Discover.
Do I need a chip-and-PIN credit card when traveling?
Most of Europe has adopted the chip-and-PIN credit card system, which eliminates swiping of magnetic strips and signatures. Instead, card readers will prompt you to insert the card (or tap it for touch-free transactions) to read the chip and prompt you for a PIN as a form of verification. Before you travel overseas, ask your card issuer for a chip card. Otherwise, you may have trouble using a mag-stripe credit card for purchases abroad.
Our methodology
by exhaustively comparing them across set criteria developed for each major category, including cash back, welcome bonus, travel rewards and balance transfer. We take into consideration the typical spending behavior of a range of consumer profiles -- with the understanding that everyone's financial situation is different -- and the designated function of a card.
For cash-back credit cards, for example, key factors include the annual fee, the "welcome bonus" and the cash-back rate (or rates, if they differ by spending category). For rewards and miles cards, we calculate and weigh the net monetary value of a card's respective perks. And with balance transfer credit cards, we analyze specs such as the duration of the introductory 0% APR period and the balance transfer fee, while acknowledging secondary factors such as the standard APR and the length of time you have to make a balance transfer after you open the account.
Cards researched
Chase Sapphire Preferred® CardDiscover it® Cash BackDiscover it® MilesDiscover it® chromeDelta SkyMiles® Gold American Express CardCapital One Venture Rewards Credit CardThe Platinum Card® from American ExpressCapital One Platinum Secured Credit CardSouthwest Rapid Rewards® Premier Credit CardBank of America® Travel Rewards credit cardCiti® / AAdvantage® Executive World Elite Mastercard®American Express® Gold CardCapital One QuicksilverOne Cash Rewards Credit CardIHG® Rewards Premier Credit CardUnited℠ Explorer CardPetal® 1 "No Annual Fee" Visa® Credit CardCapital One SavorOne Cash Rewards Credit CardHilton Honors American Express CardMarriott Bonvoy Bold® Credit CardU.S. Bank Altitude® Connect Visa Signature® CardMastercard® Titanium Card™*All information about the Discover it Miles and Discover it Cash Back has been collected independently by CNET and has not been reviewed by the issuer.
The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.