Top Credit Cards with No Foreign Transaction Fees for Travelers
Discover the best credit cards with no foreign transaction fees, ideal for travelers seeking to save on international purchases. Learn about key features, top card options, and tips to maximize your spending abroad while avoiding extra charges. Secure your financial freedom while exploring overseas destinations with the right credit card designed for global use.
Top Credit Cards with No Foreign Transaction Fees for Travelers
Foreign transaction fees are charges applied when making purchases abroad, in a currency other than your home currency, or through foreign banks. These fees typically range from 2% to 3%, which might seem manageable but can add up quickly during travel.
There are two main types of charges: one from the payment network and another from the card issuer, both applied to the transaction amount.
How can you optimize your spending with no foreign transaction fee credit cards?
- Carry sufficient cash and credit options while traveling. Use your credit card for most purchases and services but keep cash available for emergencies. Choose a credit card accepted globally through major networks like VISA and Mastercard, often called international credit cards.
- Review the fee and rate terms carefully when selecting no foreign transaction fee cards. Understanding these clauses helps manage your spending limits and prevents restrictions when making significant purchases abroad.
- Opt for cards issued by banks with an extensive global ATM network for easy cash access.
- Some international merchants allow payments in dollars, saving you money on unfavorable exchange rates where local currency exchange rates are weak.
Popular No Foreign Transaction Fee Credit Cards of 2018
- Capital One® VentureOne® Rewards Card offers 1.25 miles per dollar spent, ideal for frequent travelers.
- Chase Sapphire Preferred® Card rewards travel and dining, with a 50,000 miles bonus after spending $4,000 within three months.
- Capital One® Venture® Rewards Card features 2X miles per dollar on all purchases, perfect for earning travel miles.
- HSBC Cash Rewards Mastercard® provides a 1.5% cashback on all transactions.
- Capital One® Quicksilver® Card offers 1.5% cashback and a $150 bonus after spending $500 in three months.
Other notable options include Discover it® Cashback Match™, Capital One® Savor℠ Rewards Card, Bank of America® Travel Rewards Card, The Platinum Card® from American Express, and American Express Business Gold Rewards Card.
