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Best Credit Cards with No Foreign Transaction Fees

Best Credit Cards with No Foreign Transaction Fees

Editorial Disclosure: Editorial content, including card comparisons and card reviews are not provided or commissioned by the credit card issuer. Opinions expressed here are the author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Creditcards.org may be compensated through Affiliate Programs for referrals.

• Posted: May 12, 2016 • Updated: October 18, 2018
If you’re planning a vacation outside of the United States, you should never leave the country without a no foreign transaction fee credit card. You may not know, that many credit card companies will charge you an additional fee (typically 3%) every time you swipe your credit card internationally. And while that doesn’t sound like a lot of money on single purchases, if you add up the entire cost of your vacation, it can end up being hundreds of dollars in fees.

Let’s examine why a credit card issuers charge this fee? Foreign transaction fees were previously called currency conversion fees. In theory, credit card companies charge the fee to cover the cost of exchanging currency and to mitigate the higher risk of fraud associated with international transactions. Visa and MasterCard charge each bank a foreign transaction fee, in which they turn around and charge the consumer.

Are these fees inevitable? No. While you will always have to pay the currency difference, there are quite a few credit cards on the market that no longer charge you for international purchases. American Express was the leader in putting an end to foreign transaction fees, and shortly after, many issues followed suit. Not every credit card on the market offers no foreign transaction fees, so we have put together our top list:

 
Bank of America® Travel Rewards Credit Card
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Bank of America® Travel Rewards credit card - 25,000 Bonus Points Offer

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In addition to no foreign transaction fees, the Bank of America® Travel Rewards Credit Card Bank of America® Travel Rewards Credit Card offers 1.5 points for each dollar spent. Plus, you’ll receive a 25,000 point bonus after spending $1,000 in the first 90 days- Equal to $250 in travel rewards. If you have an active Bank of America checking or savings account, you can get an additional 10% customer points bonus on every purchase. Lastly, all of these perks come with no annual fee.  This is truly one of the best travel cards on the market.

Barclaycard Arrival Plus® World Elite Mastercard®
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Barclaycard Arrival® Plus World Elite Mastercard®

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If you are planning to travel soon, and looking to earn a lot of air miles in a short amount of time, the Barclaycard Arrival Plus Barclaycard Arrival Plus® World Elite Mastercard® ® World Elite Mastercard® might be exactly what you’re looking for. This card tops our list for its high point value- Earning 2 miles for every dollar you spend. In addition to 2 miles per dollar, you’ll earn 60,000 bonus miles if you spend $5,000 in the first 90 days and paying the annual fee. If you use this card to book your hotel and flight, you could easily put the savings towards that cost, all while earning 2 points for every travel related expense. There is a small price to pay for this amazing rewards rate however, with an $89 annual fee.

Capital One® Venture® Rewards Credit Card
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Capital One® Venture® Rewards Credit Card

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Another travel card that doesn’t skimp on the reward rate is the Capital One® Venture® Rewards Card Capital One® Venture® Rewards Card – You’ll earn 2 miles per dollar spent, and an early spend bonus of 50,000 miles (after spending $3,000 in the first 3 months). That early spend bonus is equivalent to $500 in travel and is easily redeemed through your Capital One account. You can redeem your miles as a statement credit against the travel purchases you’ve already made. This makes it easy to apply the credit towards your hotel or airfare. These rewards never expire either! This card does have a $95 annual fee, but it’s waived the first year.
 
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