best travel cards with no foreign transaction fees

Best cards with no foreign transaction fees of April 2024

If you’re traveling abroad, don’t forget to double-check that you’ve got a no-foreign-transaction-fee credit card in your wallet. These cards are excellent for frequent and occasional travelers alike since fees are one less thing you have to worry about every time you make a purchase.

Plus, there are plenty of great credit card options that waive these fees and earn rewards like cash back, points and miles you can use in the future. Some even carry no annual fee. To help you narrow down your choices and find the card that suits you best, check out this roundup of some top cards from our partners with no foreign transaction fees, picked by TPG’s expert editorial team.

• Chase Sapphire Preferred® Card : Best for total value
• Capital One SavorOne Cash Rewards Credit Card : Best for entertainment spending
• Ink Business Preferred® Credit Card : Best for bonus earning
• The Platinum Card® from American Express : Best for luxury perks
• Capital One Venture Rewards Credit Card : Best for flat-rate earning
• Bank of America® Premium Rewards® credit card : Best for Bank of America customers
• Chase Sapphire Reserve® : Best for travel
• Alaska Airlines Visa® credit card : Best for airline miles

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Comparing the best credit cards with no foreign transaction fees, more details on the best credit cards, maximizing credit cards with no foreign transaction fees, how we rate cards, what is a foreign transaction fee, how to choose the best no foreign transaction fee card, ask our experts, frequently asked questions.

• No Annual Fee

Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card is one of the most popular travel rewards credit card on the market. Offering an excellent return on travel and dining purchases, the card packs a ton of value that easily offsets its $95 annual fee. Cardholders can redeem points at 1.25 cents each for travel booked through Chase or transfer points to one of Chase’s 14 valuable airline and hotel partners. Read our full  review of the Chase Sapphire Preferred Card .

• Premium travel protection benefits including trip cancellation insurance, primary car rental insurance and lost luggage insurance.
• You’ll earn 5 points per dollar on travel purchased through Chase Travel, 3 points per dollar on dining, select streaming services and online grocery store purchases, 2 points per dollar on all other travel and 1 point per dollar on everything else.
• The card comes with a $95 annual fee
• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
• Member FDIC

Capital One SavorOne Cash Rewards Credit Card

The Capital One SavorOne is a great cash back credit card for beginners looking for a solid rewards structure and no annual fee. Dining, entertainment and groceries are high-value bonus categories, and it’s rare for a card to hit all three. Read our full  review of the Capital One SavorOne Cash Rewards Credit Card .

• Earning 3% back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart® and Target®) is a great return for a no-annual-fee credit card
• This card is great for beginners.
• The intro APR offer that comes with this card makes it a solid choice for those looking to finance a large purchase. You’ll get 0% intro APR on purchases and balance transfers for the first 15 months (19.99% - 29.99% variable APR after, there's a 3% balance transfer fee for the first 15 months or 4% at the promotional APR offered at any other time).
• If you spend a lot on dining and entertainment each year, there are cards that provide better value with higher rewards potential.
• The sign-up bonus isn’t anything to write home about (though it is easy to earn).
• Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
• Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases
• Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024
• Earn 8% cash back on Capital One Entertainment purchases
• 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
• No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
• 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies
• No foreign transaction fee
• No annual fee

Ink Business Preferred® Credit Card

The Ink Business Preferred Credit Card’s sign-up bonus is among the highest we’ve seen from Chase. Plus earn points across the four bonus categories (travel, shipping, advertising and telecommunication providers) that are most popular with businesses. The card comes with travel protections, shopping protections and will also have primary coverage when renting a car for business purposes for you and your employees. Read our full  review of the Ink Business Preferred Credit Card .

• One of the highest sign-up bonuses we’ve seen — 100,000 bonus points after $8,000 worth of spend in the first three months after card opening.
• Access to the Chase Ultimate Rewards portal for points redemption.
• Reasonable $95 annual fee.
• Bonus categories that are most relevant to business owners; primary car insurance.
• Perks including cellphone and purchase protection; extended warranty; trip cancellation/interruption insurance; trip delay reimbursement.
• High spending needed to get 100,000-point sign-up bonus.
• No travel perks.
• Subject to Chase's 5/24 rule on card applications.
• Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Travel℠
• Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
• Round-the-clock monitoring for unusual credit card purchases
• With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
• Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
• Points are worth 25% more when you redeem for travel through Chase Travel℠
• Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.

The Platinum Card® from American Express

The Amex Platinum is unmatched when it comes to travel perks and benefits. If lounge access, hotel elite status and annual statement credits are important to you, this card is well worth the high annual fee. Read our full  review of the Platinum Card from American Express .

• The current welcome offer on this card is quite lucrative. TPG values it at $1,600.
• This card comes with a long list of benefits, including access to Centurion Lounges, complimentary elite status with Hilton and Marriott, and at least $500 in assorted annual statement credits and so much more (enrollment required)
• The Amex Platinum comes with access to a premium concierge service that can help you with everything from booking hard-to-get reservations to finding destination guides to help you plan out your next getaway
• The $695 annual fee is only worth it if you’re taking full advantage of the card’s benefits. Seldom travelers may not get enough value to warrant the cost.
• Outside of the current welcome bonus, you’re only earning bonus rewards on specific airfare and hotel purchases, so it’s not a great card for other spending categories
• The annual airline fee credit can be complicated to take advantage of compared to the broader travel credits offered by competing premium cards
• Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
• Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
• $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
• $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership (subject to auto-renewal) with a statement credit after you pay for Walmart+ each month with your Platinum Card®. Cost includes $12.95 plus applicable local sales tax. Plus Up Benefits are excluded.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
• $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only. Terms Apply.
• $300 Equinox Credit: Get up to $300 back in statement credits per calendar year on an Equinox membership, or an Equinox club membership (subject to auto-renewal) when you pay with your Platinum Card®. Enrollment required. Visit https://platinum.equinox.com/ to enroll.
• $189 CLEAR® Plus Credit: Breeze through security with CLEAR Plus at 100+ airports, stadiums, and entertainment venues nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Platinum Card®. Learn more.
• $100 Global Entry Credit: Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
• $300 SoulCycle At-Home Bike Credit: Get a $300 statement credit for the purchase of a SoulCycle at-home bike with your Platinum Card®. An Equinox+ subscription is required to purchase a SoulCycle at-home bike and access SoulCycle content. Must charge full price of bike in one transaction. Shipping available in the contiguous U.S. only. Enrollment Required.
• Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
• $695 annual fee.
• Terms Apply.

Capital One Venture Rewards Credit Card

When it comes to simplicity and strong rewards, the Capital One Venture Rewards Credit Card is a solid choice for most travelers. You’ll earn 2 miles per dollar on every purchase with no bonus categories to memorize, making it an ideal card for those with busy lives. Read our full  review of the Capital One Venture Rewards Credit Card .

• This flexible rewards card delivers a solid sign-up bonus of 75,000 miles, valued by TPG at $1,388.
• You'll earn 2 miles per dollar on every purchase, which means you won't have to worry about memorizing bonus categories.
• Rewards earned are versatile as they can be redeemed for any hotel or airline purchase for a statement credit or transferred to 15+ travel partners.
• Transfer ratios to a couple of partners are mediocre at less than 1:1 ratio
• Capital One airline partners do not include any large U.S. airlines
• Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
• 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
• Miles won't expire for the life of the account and there's no limit to how many you can earn
• Receive up to a $100 credit for Global Entry or TSA PreCheck®
• Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
• Enrich every hotel stay from the Lifestyle Collection with a suite of cardholder benefits, like a $50 experience credit, room upgrades, and more
• Transfer your miles to your choice of 15+ travel loyalty programs

Bank of America® Premium Rewards® credit card

The Bank of America Premium Rewards card is great for using the points earned for rewards that normal airline miles or credit card points can’t cover. Bank of America Preferred Rewards® members get a 25%-75% rewards bonus on every purchase. New cardmembers earn a 60,000-point sign-up bonus after spending $4,000 in the first 90 days of account opening. Read our full  review of the Bank of American Premium Rewards card .

• This card is more valuable for Bank of America Preferred Rewards® members, who can get between a 25% and 75% bonus on points earned
• Comes with up to $100 in airline incidental statement credits annually and up to $100 Global Entry/TSA PreCheck® statement credit and travel protections
• Can transfer points earned into a 529 college fund
• Other cards offer higher points for key bonus categories
• Must open a Bank of America account to get the best value for points
• Receive 60,000 online bonus points - a $600 value - after you make at least $4,000 in purchases in the first 90 days of account opening.
• Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points for every $1 spent on all other purchases. No limit to the points you can earn and your points don't expire as long as your account remains open.
• If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means you could earn 2.5-3.5 points on travel and dining purchases and 1.87-2.62 points on all other purchases, for every $1 you spend.
• Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill® accounts, or gift cards or purchases at the Bank of America Travel Center.
• Get up to $100 in Airline Incidental Statement Credits annually and TSA PreCheck®/Global Entry Statement Credits of up to $100, every four years.
• Travel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delays and lost luggage.
• No foreign transaction fees.
• Low $95 annual fee.
• 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.

Chase Sapphire Reserve®

The Chase Sapphire Reserve is one of our top premium travel cards. With a $300 travel credit, generous points on dining and travel purchases and other benefits, you can get excellent value that far exceeds the annual fee on the card. Read our full  review of the Chase Sapphire Reserve .

• $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year
• Access to Chase Ultimate Rewards hotel and airline travel partners
• 10 points per dollar on hotels, car rentals and Chase Dining purchases through the Ultimate Rewards portal, 5 points per dollar on flights booked through the Ultimate Rewards portal, 3 points per dollar on all other travel and dining, 1 point per dollar on everything else
• 50% more value when you redeem your points for travel directly through Chase Travel
• Steep initial $550 annual fee
• May not make sense for people that don't travel frequently
• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.
• $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
• Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 60,000 points are worth $900 toward travel.
• 1:1 point transfer to leading airline and hotel loyalty programs
• Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more

Alaska Airlines Visa® credit card

There’s a lot to love about the Alaska Airlines Visa  credit card, in part due to its highly valuable loyalty program: Alaska Airlines MileagePlan. Whether you’re a loyal Alaska flyer or a points maximizer looking to diversify your rewards portfolio, this card has a lot to offer. For starters, you’ll receive Alaska’s Famous Companion Pass from $122($99 fare plus taxes and fees from $23) each account anniversary after spending $6,000 or more within the prior anniversary year, free checked bags for you and up to six guests on your itinerary, 20% back on in-flight purchases and more. Plus, Alaska has joined the oneworld alliance, opening up endless redemption opportunities. Read our full  review of the Alaska Airline Visa credit card .

• Free checked bag for you and up to six guests on your reservation
• Alaska discounts, including 20% back on in-flight purchases
• No foreign transaction fees
• $95 annual fee
• Limited Time Online Offer – 70,000 Bonus Miles!
• Get 70,000 bonus miles plus Alaska's Famous Companion Fare™ ($99 fare plus taxes and fees from $23) with this offer. To qualify, make $3,000 or more in purchases within the first 90 days of opening your account.
• Get Alaska's Famous Companion Fare™ ($99 fare plus taxes and fees from $23) each account anniversary after you spend $6,000 or more on purchases within the prior anniversary year. Valid on all Alaska Airlines flights booked on alaskaair.com.
• Earn unlimited 3 miles for every $1 spent on eligible Alaska Airlines purchases. Earn unlimited 2 miles for every $1 spent on eligible gas, EV charging station, cable, streaming services and local transit (including ride share) purchases. And earn unlimited 1 mile per $1 spent on all other purchases. And, your miles don't expire on active accounts.
• Earn a 10% rewards bonus on all miles earned from card purchases if you have an eligible Bank of America® account.
• Free checked bag and enjoy priority boarding for you and up to 6 guests on the same reservation, when you pay for your flight with your card - Also available for authorized users when they book a reservation too!
• With oneworld® Alliance member airlines and Alaska's Global Partners, Alaska has expanded their global reach to over 1,000 destinations worldwide bringing more airline partners and more ways to earn and redeem miles.
• Plus, no foreign transaction fees and a low $95 annual fee.
• This online only offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.

The Chase Sapphire Preferred Card is well known within the world of travel rewards credit cards. The card offers a strong return on travel and dining purchases, an annual hotel credit and amazing travel protections — all for a low annual fee. Points can be redeemed for 1.25 cents each toward travel booked through Chase and can gain even more value when transferred to one of Chase’s airline and hotel partners.

The card is an excellent choice for those looking to earn on dining and travel at solid rates with the option of redeeming points for travel with one of Chase’s transfer partners. Card members will enjoy travel protections to help ensure their journeys go smoothly.

“The Chase Sapphire Preferred has remained a top card in my wallet for years. Between the consistently strong sign-up bonus, low annual fee and continual improvements that have been made over the years, it's hard for any other mid-tier rewards card to compare. I love that I can earn bonus rewards on travel, dining, streaming and online grocery purchases — all with just one card. Plus, Chase Ultimate Rewards points are valuable and easy to use whether you're new to points and miles or an expert.” — Madison Blancaflor , senior content operations editor

The Capital One Venture Rewards Credit Card is a great alternative. It is known for its impeccable earning hotels and rental cars booked through Capital One Travel and solid flat earning rate on everyday purchases, plus a strong welcome bonus. 

The Capital One SavorOne is a cash-back card and a great addition to a beginner’s wallet. The card offers a solid rewards structure and no annual fee (see rates and fees ). The bonus categories of dining, entertainment and groceries are easy to maximize, and it’s very rare for a card to have all three high-value bonus categories.

Individuals who don’t want to pay an annual fee but still want to earn cash back by simply using their card in the bonus-earning categories. 

The card is easy to use since it doesn’t require activating quarterly bonus-earning categories, streamlining the rewards-earning process for cardholders.

The Chase Freedom Unlimited® is a great choice for those looking for a simpler cash-back credit card with no annual fee. Cardholders earn 1.5% unlimited cash back on all purchases, which is great if you have expenses that fall outside of the SavorOne's bonus categories.

The Ink Business Preferred Credit Card’s sign-up bonus is incredibly high and something to consider when looking to open this card. The card earns bonus points across four categories (travel, shipping, advertising and telecommunication providers), which are some of the most popular for businesses. In addition, the card provides travel and shopping protections, including primary coverage for car rentals and purchase protection. 

Business owners who spend within the card’s bonus-earning categories would benefit most from this card, especially business travelers. If you already have another Chase credit card, you can also easily combine your points to maximize value and redemption opportunities. 

“I originally signed up for the Ink Business Preferred primarily for its sign-up bonus. But, over the last year, I've found myself making it my go-to card when booking travel. After all, the Ink Business Preferred earns 3 points per dollar spent on travel and provides excellent travel protections, including trip delay protection and rental car insurance.” — Katie Genter , senior writer

The Capital One Spark Miles for Business offers cardholders a flat rewards rate on all purchases, which may be useful for those who cannot utilize the Ink Business Preferred’s bonus categories.

The Amex Platinum comes with unmatched travel perks and benefits. For those looking for lounge access, hotel elite status, annual statement credits and other benefits meant to elevate your travel and lifestyle experiences, this card is well worth the high annual fee.

The Amex Platinum is perfect for frequent travelers who like to enjoy the more luxurious aspects of travel. Benefits include statement credits tailored toward flights and hotels, in addition to lifestyle-based credits for gym membership and streaming services. 

“Whilst this card has a high annual fee, it more than justifies itself for frequent travelers like me. The lounge access options that come with the Platinum are unrivaled by competitors. I put all of my flights — whether bought with cash or points — on this card to earn 5 points per dollar spent and trip protection insurance. I make sure to take full advantage of the Uber, Saks Fifth Avenue, Hulu/Disney+ and Clear Plus credits (enrollment required for select benefits). And, honestly, pulling a Platinum card out of your wallet to pay for something does feel pretty fancy.” — Matt Moffitt , senior credit cards editor

The Capital One Venture X Rewards Credit Card has a more affordable annual fee (see rates and fees ) while still offering perks that rival those of the Amex Platinum. Additionally, you’ll earn bonus rewards on purchases outside of just travel, which can be helpful if you’re hoping to apply rewards from everyday spending toward your travel experiences. 

Simplicity, strong earning potential and a low annual fee are all strengths that come to mind for this card. Travelers will enjoy earning bonus rewards on all purchases without having to memorize bonus categories, instead focusing on redeeming rewards, such as transferring miles to one of Capital One’s partners. 

Travelers interested in earning rewards in a simplified manner, especially toward travel redemptions. Rewards earned are versatile as they can be redeemed for eligible travel purchases as a statement credit or transferred to Capital One travel partners. 

“The Capital One Venture is a great card that can add value to pretty much anyone's wallet. I use it to earn 2 miles per dollar on the purchases that fall outside of my other cards' bonus categories. The annual fee is low, Capital One miles are easy to redeem and the card does come with a few nice perks — including TSA PreCheck/Global Entry application fee reimbursement.” — Madison Blancaflor , senior content operations editor

The Chase Sapphire Preferred® Card is an excellent card for those who would prefer to stay within the Chase Ultimate Rewards ecosystem. You’ll still earn generously across travel, dining and select streaming services.

The Bank of America Premium Rewards credit card generously offers 2 points per dollar on travel and dining, while giving cardholders 1.5 points per dollar on all other purchases, a higher bonus-earning potential than other travel cards. Flexible redemption options and the ability for Bank of America Preferred Rewards® members to get a 25%-75% rewards bonus on every purchase make the card even more outstanding. 

Individuals who currently have a Bank of America account and want a stress-free card that offers simplicity. For semifrequent travelers, this card offers solid benefits such as an annual airline incidental credit, comprehensive travel protection insurance and unique redemption options such as transferring points into a 529 college fund.

The card offers benefits and a variety of redemption options to suit almost any individual. Strong earning potential in broad categories such as travel and dining make this an excellent choice for a card with a low annual fee. 

The Bank of America® Travel Rewards credit card is a strong contender for those looking for a BofA card tailored more toward travel with no annual fee and no foreign transaction fees. 

The Chase Sapphire Reserve is a top premium travel card among TPG staffers and many travel aficionados. Offering a generous travel credit and bonus earnings on dining and travel purchases, this card is an easy way to build up your points balance for your next adventure. With such excellent benefits offered, the annual fee on the card is easy to justify for many travelers. 

The card is best for those who spend a lot on travel and dining. If you travel often, this card is also a must-have for its travel protections, statement credits and lounge access. 

“I've had the Sapphire Reserve for years, and it's going to stay in my wallet for the near future. I get $300 off travel every year, along with great earning rates on travel and dining (3 points per dollar) and varied travel protections that can reimburse me when things go wrong. And by leveraging other cards in the Ultimate Rewards ecosystem, I'm able to maximize the earnings across all of my purchases.” — Nick Ewen , director of content

The Platinum Card® from American Express provides additional travel and lifestyle benefits over the Chase Sapphire Reserve and is aimed toward travelers looking to upgrade their travel experiences with perks such as lounge access, automatic elite status and more.

The Alaska Airlines Visa credit card is loved by many thanks to the ability to earn miles with the airline’s highly valuable loyalty program: Alaska Airlines MileagePlan. In addition to earning coveted Alaska miles, cardholders earn Alaska’s Companion Pass, an outstanding perk for those who fly with Alaska often.

Those who are frequent flyers on Alaska Airlines benefit the most from this card because of airline-specific perks such as a free checked bag and priority boarding. The card is an excellent way to earn Alaska miles, which can redeemed for travel on Oneworld alliance airlines and other partners. 

Alaska MileagePlan miles are among the most difficult to earn within the world of credit card points and miles, so having a card that helps boost your mileage balance can provide a lot of value. 

The Capital One Venture Rewards Credit Card is a good choice for those looking to be flexible with their rewards, as Capital One miles transfer to multiple airline and hotel partners.  

Enjoy multicountry trips with ease

Jumping from country to country within different regions of the world has its complications in terms of money due to varying currencies. When a credit card charges a foreign transaction fee, it can often outweigh the potential benefits of earning rewards on those purchases abroad. However, you can travel knowing that wherever you go, you don’t have to worry about pesky foreign transaction fees charged by banks when swiping one of TPG’s best cards with no foreign transaction fees.

Check category spending restrictions

When a credit card does not charge a foreign transaction fee, you want to make sure that your travel card is earning bonus points during your travels. For example, the American Express® Gold Card earns 4 points per dollar at U.S. supermarkets only, so your supermarket purchases abroad will not earn bonus points. It’s always a good idea to check if cards in your wallet have any restrictions on earning bonus points, especially if you plan on earning those points overseas. 

Beware of dynamic currency conversion

Even if you have a card that waives foreign transaction fees, you’ll want to watch out for dynamic currency conversion . This is when a merchant in a foreign country offers to charge you in your home currency rather than the local one. For example, a shop in London might ask if you want to be charged in British pounds instead of U.S. dollars. While it may seem like a nice option, it will almost always cost you. In fact, some TPG staffers have data points with conversion rates that would’ve added more than 7% to the purchase price!

Stick to the local currency, since your card issuer will convert the transaction at the spot rate at the time of the transaction.

A foreign transaction fee is charged by your card issuer every time you swipe your card outside of the U.S. When you buy something abroad or on a non-U.S website, the cost of the purchase will likely need to be converted into U.S. dollars. This comes at a cost, which the foreign bank then passes onto the issuer, which then passes that fee onto you, the consumer.

Top credit card issuers' foreign transaction fees

While a few issuers don’t charge foreign transaction fees across any of their cards, others offer a mix of cards with foreign transaction fees and without. Here is a rundown of the standard transaction fees charged by the major U.S. credit card issuers for the cards that do have these fees. 

How to avoid foreign transaction fees

The best way to avoid foreign transaction fees is to travel with a card that doesn’t charge those fees. When applying for a card, you can check the terms and conditions for a rate table that should list any fees that the card will incur — including foreign transaction fees. 

When shopping online with retailers or travel companies based outside of the U.S. it’s also good practice to use a card that doesn’t charge these fees. Even though you may be pressing the purchase button while in the U.S., if the store or brand you’re shopping with is based abroad, that purchase may still be considered a foreign transaction, which would incur the fee.

Be especially diligent about which card you use when booking travel at hotels abroad. While Hilton and Marriott are both U.S.-based companies, many of the individual hotels within those brands are locally owned and operated and could charge a foreign transaction fee for bookings when you don’t use the right credit card.  

• 1 Annual fee An annual fee card may be well worth it if the card features benefits that are worth more than the card’s annual fee. Depending on your travel lifestyle, it might be beneficial to consider a card with an annual fee.
• 2 Welcome bonus Welcome bonuses are an important part of determining a card’s value. It is often significantly more difficult to earn as many points as a card’s welcome bonus through regular spending alone. Generally, the higher the welcome bonus is, the higher the required spend will be so make sure you can earn your card’s welcome bonus through your normal spending habits.
• 3 Bonus categories Cards on this list feature a variety of bonus categories. Choosing a card with elevated earning rates on your regular spending categories is the best way to get the most out of your card. You want to choose a card that best benefits you and your earning strategy.

What’s your favorite credit card with no foreign transaction fee — and why?

These fees are charged by some card issuers every time you swipe your card outside of the U.S.

When you buy something abroad or on a non-U.S. website, the cost of the purchase will likely need to be converted into U.S. dollars. A foreign transaction fee is generally charged to mitigate the financial risks of the ever-changing foreign exchange market. Once the purchase is converted into U.S. dollars, then a foreign transaction fee is charged.

Foreign transaction fees vary for each issuer but are generally anywhere between 2% and 5%. Given that most bonus rewards categories fall into the same earning percentage, a foreign transaction fee on purchases can easily completely offset any value you’d be getting from your credit card’s rewards structure. 

You don’t have to be in another country to rack up a foreign transaction fee. If you make a payment online with a brand that isn’t based in the U.S., you might still be charged a foreign transaction fee, even if you were in the U.S. when you made the purchase. 

This can happen when you are buying from a company that is not based in the U.S., but it also happens when booking hotels abroad . Most properties within major hotel brand portfolios like Hilton or Marriott are individually owned and managed, but reservations are facilitated through a brandwide website. 

This means that while your reservation may be made on a U.S. website and you may pay in U.S. dollars, the room charges may be processed by the hotel itself through a non-U.S. bank. It’s generally hard to tell in these cases whether you’ll be charged a foreign transaction fee until after the payment is already processed. So it’s a best practice to use a card with no foreign transaction fees just in case.

If foreign transaction fees are charged on purchases made for business purposes then the fees are tax deductible, but all foreign transaction fees for personal expenses are not tax deductible. 

Foreign transaction fees are not refundable. The best way to avoid incurring these fees is to use a card that doesn’t charge a foreign transaction fee to begin with (or to use cash while abroad, but then you’ll miss out on the potential to earn rewards). 

However, there are some cards that will refund you for foreign ATM fees when traveling abroad. ATM fees are not the same thing as foreign transaction fees — ATM fees are charged by a bank when using an ATM that is not affiliated with your bank — but are an example of fees you may be charged while traveling abroad. A Schwab Bank Investor Checking account from Charles Schwab comes with a debit card that will refund any fees incurred from using ATMs while abroad. 

When applying for a new card or evaluating an existing card, look at your cardholder agreement and rates and fees page, which will highlight if the card charges foreign transaction fees or not.

There are U.S. credit card issuers that never charge foreign transaction fees, regardless of which credit card you have — most notably Capital One and Discover . 

However, even the credit card issuers who do charge foreign transaction fees across some of their cards almost always offer at least a few credit cards within their lineup that don’t charge these fees — many of which are included in this list. These cards are usually geared toward travelers and include bonus categories and benefits that are suited for those who want to make the most of their travels. 

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Bankrate.com is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which Bankrate.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval, also impact how and where products appear on this site. Bankrate.com does not include the entire universe of available financial or credit offers.

Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.

Best no-foreign-transaction-fee credit cards of April 2024

• • Reward credit cards
• • Balance transfer credit cards

Re’Dreyona Walker is an editor for Bankrate and CreditCards.com, focusing on product guides and reviews. As a personal finance expert, she is dedicated to providing honest product reviews as well as in-depth, comprehensive guides to assist readers in building credit and finding the best credit cards for their needs.

• • Travel rewards credit cards
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Tracy Stewart is a personal finance writer specializing in credit card loyalty programs, travel benefits, and consumer protections.

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Jason Steele is a professional journalist and credit card expert who has been contributing to online publications since 2008. He was one of the original contributors to The Points Guy, and his work has been appearing there since 2011. He has also contributed to over 100 of the leading personal finance and travel outlets.

The listings that appear on the website are from credit card companies from which Bankrate receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers. Here's an explanation for how we make money.

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Foreign transaction fees are only one of many unnecessary charges travelers and online shoppers are likely to encounter. This surcharge can be up to 3 percent of the cost when making international purchases or withdrawing funds from a foreign ATM. Here’s what you need to know about the best credit cards without foreign transaction fees from our partners as well as some tips on how to avoid other unnecessary fees when shopping internationally.

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Best No Foreign Transaction Fee Credit Cards

• Capital One VentureOne Rewards Credit Card : Best overall
• Bank of America® Travel Rewards credit card : Best for expanded travel rewards categories
• Discover it® Cash Back : Best for rotating category rewards
• Capital One Quicksilver Cash Rewards Credit Card : Best for flat-rate cash back
• Chase Sapphire Preferred® Card : Best travel card for beginners
• Capital One Venture Rewards Credit Card : Best for flat-rate travel rewards
• Discover it® Student Cash Back : Best for students
• The Platinum Card® from American Express : Best for lounge access
• Capital One Venture X Rewards Credit Card : Best for budget luxury travel
• Discover it® Miles : Best for first-year value
• American Express® Gold Card : Best for travel rewards on dining
• Chase Sapphire Reserve® : Best for luxury perks

Additional Options:

• American Express® Green Card:  Best for everyday travel

What to know about foreign transaction fees

How much are foreign transaction fees, tips for choosing the best no-foreign-transaction-fee card, expert advice for no foreign transaction fee cards, how we assess the best cards with no foreign transaction fee.

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How do we choose the best overall card?

In determining which cards were worthy of “Best Overall” distinction on marketplace pages, our editorial team reviewed the cards currently available on each page and narrowed the list of candidates to only those cards that either:

• A) had received a minimum 4.0-star overall rating in their primary scoring category based on our proprietary card rating methodology , or 
• B) were currently the highest-rated card on the page. 

We then surveyed an internal panel of expert credit card writers and editors as to which card from the candidate list was most deserving of a “Best Overall” distinction. The winner was selected based on popular vote.

Capital One VentureOne Rewards Credit Card

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

Intro offer

• Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel

Offer valuation

We calculate this number by multiplying the card's intro offer by Bankrate's valuation of this issuer's rewards program , showing you how much your points or miles are worth in dollars.

1.25 Miles - 5 Miles

Rewards rate

5 Miles per dollar on hotels and rental cars booked through Capital One Travel 1.25 Miles per dollar on every purchase, every day

Regular APR

• 5 Miles 5 Miles per dollar on hotels and rental cars booked through Capital One Travel
• 1.25 Miles 1.25 Miles per dollar on every purchase, every day

Why it’s the best overall: "I got this card because I was going to be temporarily living abroad. It was also my first card so I needed something easy to use. This was the perfect choice thanks to its low fees, intro APR offer and flat-rate rewards, which helped me to get used to having a credit card without sacrificing value." — India Davis , Editor, Credit Cards  What we love: This card is great for low-hassle travel rewards with its flat earning rate and easy redemption of miles for any recent, travel-related purchases, including flights with any airline. Learn more: Is the Capital One VentureOne worth it? Alternatives: While this card is great for someone who doesn’t want to worry about offsetting the cost of an annual fee, travel rewards maximizers who travel often are likely better off with a more premium card, such as the Bank of America® Premium Rewards® credit card .

• Occasional travelers can earn miles on everyday purchases.
• You could potentially increase the value of your miles by transferring them to Capital One’s travel partners.
• Many travel cards with annual fees come with more valuable benefits.
• Capital One’s transfer partners currently don’t include any major U.S. airlines.
• $0 annual fee and no foreign transaction fees
• Earn unlimited 1.25X miles on every purchase, every day
• Miles won't expire for the life of the account and there's no limit to how many you can earn
• 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
• Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
• Transfer your miles to your choice of 15+ travel loyalty programs
• Enjoy 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies

Bank of America® Travel Rewards credit card

• 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
• 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 as long as your account remains open.
• 1.5X 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 as long as your account remains open.

What we love: What makes this card stand out is that you can redeem for more than just flights, hotels or rental cars. The Bank of America Travel Rewards card lets you redeem points for statement credits for purchases at campgrounds, zoos, art galleries, aquariums and more. Learn more: Bank of America Travel Rewards credit card benefits guide Alternatives: The Citi Premier® Card is a solid alternative if you don’t mind a modest annual fee in exchange for competitive rewards rates on everyday purchases. 

• Qualifying for the Bank of America Preferred Rewards® program makes this card one of the most lucrative flat-rate travel cards available.
• You could benefit from a temporary break on interest charges thanks to this card’s intro APR offer.
• You won’t get some of the most coveted travel benefits like trip cancellation insurance or complimentary lounge access.
• The minimum amount of points you need to redeem is high compared to other cards.
• Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
• Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
• 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.24% - 28.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
• If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
• Contactless Cards - The security of a chip card, with the convenience of a tap.
• 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.

Discover it® Cash Back

• Intro Offer: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.

Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically.

• 5% Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate.
• 1% Plus, earn unlimited 1% cash back on all other purchases - automatically.

What we love: This classic card from Discover pairs forgiving terms (like no penalty APR for missed payments) with a generous rotating category cash back rewards program, making it a rare cash back credit card that skips foreign transaction fees. Its end-of-first-year Cashback Match also sweetens the deal. Learn more: Is the Discover it® Cash Back Credit Card worth it? Alternatives: Discover’s rotating rewards program requires quarterly activation and tracking categories, so the Capital One Quicksilver Cash Rewards Credit Card may be a better match if you’re looking for a more low-maintenance rewards strategy.

• The card is cost-effective since there’s no annual fee and Discover will waive your first late payment fee (up to $41 after that).
• Rotating bonus categories tend to include popular everyday categories.
• The card’s value decreases after the first year when the Cashback Match is no longer on the table.
• Maximizing rewards takes some legwork; you have to enroll and spend in bonus categories each quarter to earn the best cash back rates.
• Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.
• Redeem your rewards for cash at any time.
• Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
• Get a 0% intro APR for 15 months on purchases. Then 17.24% to 28.24% Standard Variable Purchase APR applies, based on credit worthiness.
• No annual fee.
• Terms and conditions apply.

Capital One Quicksilver Cash Rewards Credit Card

• Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening

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

• 5% 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
• 1.5% Earn unlimited 1.5% cash back on every purchase, every day

What we love: One of a handful of cash back credit cards that skip foreign transaction fees ( See Rates and Fees ), this popular Capital One card combines consumer-friendly terms with a decent rewards program. We particularly like it for first-time rewards credit cardholders. Learn more: Why I love the Capital One Quicksilver Cash Rewards card Alternatives: If you want to maximize cash back earnings in multiple categories or have a higher rewards rate, we suggest the Discover it® Cash Back credit card .  

• You won’t need a minimum amount of rewards to redeem cash back.
• The welcome offer is fairly attainable compared to other cash back cards.
• You could earn more rewards with other flat-rate or bonus category cash back cards.
• The ongoing variable APR is higher compared to competing cards.
• Earn unlimited 1.5% cash back on every purchase, every day
• Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
• 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
• No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
• 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies

Chase Sapphire Preferred® Card

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.

5x on travel purchased through Chase Travel℠. 3x on dining, select streaming services and online groceries. 2x on all other travel purchases. 1x on all other purchases.

• 5x 5x on travel purchased through Chase Travel℠.
• 3x 3x on dining, select streaming services and online groceries.
• 2x 2x on all other travel purchases.
• 1x 1x on all other purchases.

What we love: This popular travel credit card operates on all cylinders, touting an excellent rewards rate on travel and dining and a lucrative sign-up bonus. You can also enjoy 25 percent more value when you redeem points for travel through Chase Travel℠. Learn more: Chase Sapphire Preferred card benefits guide Alternatives: Travelers looking for luxury perks such as airport lounge access or free checked bags may prefer the Delta SkyMiles® Gold American Express Card or the Delta SkyMiles® Platinum American Express Card .  

• The easy value boost by simply redeeming rewards for travel through the Chase Travel℠ portal is a stellar feature.
• You’ll get travel perks like trip cancellation/interruption insurance and baggage delay insurance.
• No intro APR offers means you won’t save on interest if you have to carry a balance.
• There’s a steep spending requirement to earn the card’s sign-up bonus.
• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
• Member FDIC

Capital One Venture Rewards Credit Card

New Venture cardholders can earn 75,000 miles once they spend $4,000 on purchases within 3 months from account opening

2 Miles - 5 Miles

5 Miles per dollar on hotels and rental cars booked through Capital One Travel 2 Miles per dollar on every purchase, every day

• 2 Miles 2 Miles per dollar on every purchase, every day

What we love: A primary draw for this travel card is a generous 2X miles on all purchases, allowing you to earn toward travel without making a lot of travel purchases. Learn more: Why I love the Capital One Venture Rewards card Alternatives: If you exclusively fly one airline or stay at one hotel chain, you’re probably better off with a co-branded card — and if you don’t like annual fees ( See Rates and Fees ), consider this card’s low-cost alternative, the Capital One VentureOne Rewards Card .

• It comes with many flexible redemption options, not limited to travel.
• You could potentially increase the value of your miles by transferring them to select Capital One travel partners.
• There’s a steep spending requirement to achieve this card’s current sign-up bonus.
• The annual fee ( See Rates and Fees ) could price this card out of some people’s budget.
• Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
• Earn unlimited 2X miles on every purchase, every day
• Receive up to a $100 credit for Global Entry or TSA PreCheck®
• Enrich every hotel stay from the Lifestyle Collection with a suite of cardholder benefits, like a $50 experience credit, room upgrades, and more

Discover it® Student Cash Back

• Intro Offer: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 cash back into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.

What we love: A top choice for students, the Discover it® Student Cash Back credit card touts a generous rewards program and consumer-friendly terms, including no annual fee. Consider applying if you don’t mind managing rotating cash back bonus categories. Learn more: Is the Discover it® Student Cash Back credit card worth it? Alternatives: If you don't want to activate the card's rotating bonus categories each quarter, the Discover it® Student Chrome has a more simplified rewards program.  

• It's a lucrative rewards credit card available to students.
• This card doesn’t charge an annual fee, perfect for first-time cardholders.
• Rotating cash back categories might be confusing or tedious to credit card newbies.
• While it has an intro offer on new purchases, it’s much shorter than what you’d find on plenty of other cards.
• No credit score required to apply.
• No annual fee and build your credit with responsible use.
• 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 18.24% - 27.24% applies.

The Platinum Card® from American Express

Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership.

Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year. Earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.

• 5X Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year.
• 5X Earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.

What we love: This card’s lounge access privileges make it a perfect fit for frequent flyers who want to travel in maximum comfort. The card also comes with plenty of perks, including statement credits for expedited security screening, airline incidentals, hotels and Uber.  Learn more: The Platinum Card from American Express benefits guide Alternatives: While this card’s benefits are nice, they’re also expensive and you may only use a handful of its benefits. The Capital One Venture X Rewards Credit Card is a great alternative thanks to its lower annual fee and solid travel perks.  

• This card offers a long list of airline and hotel transfer partners, so you should have little trouble using your points for travel worldwide.
• Includes access to Priority Pass Select lounges, Centurion lounges, Delta Sky Clubs (if you’re traveling on Delta) and more.
• It’s not a great fit if you want to earn travel rewards on everyday spending, due to its low rewards rates on non-travel purchases.
• Several of the card’s perks are unrelated to travel and may only appeal to a small audience, making the annual fee harder to justify.
• Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
• Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
• $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
• $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership (subject to auto-renewal) with a statement credit after you pay for Walmart+ each month with your Platinum Card®. Cost includes $12.95 plus applicable local sales tax. Plus Up Benefits are excluded.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
• $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only. Terms Apply.
• $300 Equinox Credit: Get up to $300 back in statement credits per calendar year on an Equinox membership, or an Equinox club membership (subject to auto-renewal) when you pay with your Platinum Card®. Enrollment required. Visit https://platinum.equinox.com/ to enroll.
• $189 CLEAR® Plus Credit: Breeze through security with CLEAR Plus at 100+ airports, stadiums, and entertainment venues nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Platinum Card®. Learn more.
• $100 Global Entry Credit: Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
• $300 SoulCycle At-Home Bike Credit: Get a $300 statement credit for the purchase of a SoulCycle at-home bike with your Platinum Card®. An Equinox+ subscription is required to purchase a SoulCycle at-home bike and access SoulCycle content. Must charge full price of bike in one transaction. Shipping available in the contiguous U.S. only. Enrollment Required.
• Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
• $695 annual fee.
• Terms Apply.

Capital One Venture X Rewards Credit Card

• Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel

2 Miles - 10 Miles

10 Miles per dollar on hotels and rental cars booked through Capital One Travel 5 Miles per dollar on flights booked through Capital One Travel 2 Miles per dollar on every purchase, every day

• 10 Miles 10 Miles per dollar on hotels and rental cars booked through Capital One Travel
• 5 Miles 5 Miles per dollar on flights booked through Capital One Travel

What we love: If you’re looking for some middle ground in the realm of luxury travel cards, this one has a lot to offer. With a $395 annual fee ( See Rates and Fees , about half of the $600+ annual fees on other luxury travel cards), you still get some of the best travel protections, lounge access opportunities and annual credits. Bonus: the credits you earn will put a nice dent in the annual fee. Learn more: Capital One Venture X benefits guide Alternatives: If you want a card that rewards your personal travel habits, such as booking with your favorite airlines or hotels, cards with brand-specific perks could be a better alternative. Co-branded credit cards, such as the Hilton Honors American Express Surpass® Card , help you earn rewards with the hotels and airlines you prefer. 

• You’ll get $300 in annual credits for Capital One Travel bookings.
• Enjoy complimentary Priority Pass Select membership to over 1,300 lounges worldwide.
• The $395 annual fee ( See Rates and Fees ), while lower than annual fees on other premier travel cards, could still be steep for some.
• You must book through the Capital One Travel portal to earn the highest rewards rates.
• Receive a $300 annual credit for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
• Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
• Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
• Earn unlimited 2X miles on all other purchases
• Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
• Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
• Elevate every hotel stay from the Premier or Lifestyle Collections with a suite of cardholder benefits, like an experience credit, room upgrades, and more

Discover it® Miles

• Unlimited Bonus: Unlimited Mile-for-Mile match for all new cardmembers - only from Discover. Discover gives you an unlimited match of all the Miles you’ve earned at the end of your first year. For example, if you earn 35,000 Miles, you get 70,000 Miles. There’s no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match.

Offer valuation is not available for this credit card.

Automatically earn unlimited 1.5x Miles on every dollar of every purchase.

• 1.5X Automatically earn unlimited 1.5x Miles on every dollar of every purchase.

What we love: This budget-friendly travel credit card combines a decent return on purchases, a generous first-year welcome offer and consumer-friendly terms. Occasional travelers should consider applying. Learn more: Why I love the Discover it® Miles Credit Card Alternatives: If you’re looking for travel perks or the ability to transfer miles to airline or hotel loyalty programs, cards like the Southwest Rapid Rewards® Priority Credit Card or the Marriott Bonvoy Brilliant® American Express® Card may be better suited for your needs.

• Miles don’t lose value when you redeem for cash back.
• Discover forgives your first late payment (up to $41 late fee after that; missed payments can hurt your credit score).
• The card has no ancillary travel benefits or perks.
• The card’s value drops significantly after the first year’s miles match welcome bonus.
• Automatically earn unlimited 1.5x Miles on every dollar of every purchase
• No annual fee
• Turn Miles into cash. Or redeem as a statement credit for your travel purchases like airfare, hotels, rideshares, gas stations, restaurants and more.
• 0% intro APR for 15 months on purchases. Then 17.24% - 28.24% Standard Variable Purchase APR will apply.
• Discover is accepted nationwide by 99% of the places that take credit cards.

American Express® Gold Card

Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.

Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S. Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X). Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.

• 4X Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S.
• 4X Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
• 3X Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.

What we love: International travelers who always remember to pack their appetites will find the American Express Gold Card a rich source of travel rewards, without foreign transaction fees. The generous rewards and annual credits should go a long way toward offsetting the card's $250 annual fee. Learn more: Is the Amex Gold worth the annual fee? Alternatives: For travelers who want premium travel perks like airport lounge access, you’d be better off with the Chase Sapphire Reserve , as it comes with some of the highest rewards for travel and dining compared to other luxury travel cards.  

• This card offers best-in-class base rewards on food purchases.
• Features travel and shopping protections, including trip delay insurance, baggage insurance and extended warranty coverage.
• Earning the full value of some of this card’s credits requires careful attention to the terms and conditions.
• The steep annual fee will price this card out of many non-frequent flyers’ budgets.
• Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
• Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
• Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
• $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year.
• $120 Dining Credit: Satisfy your cravings and earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations. Enrollment required.
• Get a $100 experience credit with a minimum two-night stay when you book The Hotel Collection through American Express Travel. Experience credit varies by property.
• Choose the color that suits your style. Gold or Rose Gold.
• No Foreign Transaction Fees.
• Annual Fee is $250.

Chase Sapphire Reserve®

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.

Earn 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠. Earn 5x total points on flights through Chase Travel℠. Earn 3x points on other travel and dining. Earn 1 point per $1 spent on all other purchases.

• 10x Earn 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠.
• 5x Earn 5x total points on flights through Chase Travel℠.
• 3x Earn 3x points on other travel and dining.
• 1x Earn 1 point per $1 spent on all other purchases.

What we love: This popular luxury travel credit card from Chase comes fully loaded, featuring generous base rewards, a sweet sign-up bonus, ancillary perks (including airport lounge access and certain travel protections) and a high-value travel credit that’ll go a long way toward offsetting the steep $550 annual fee. Learn more: Chase Sapphire Reserve benefits guide Alternatives: If you only travel occasionally, aren’t comfortable with a hefty annual fee or you’re not sure you’d get $550 of value out of this card each year, the Chase Sapphire Preferred is a better choice.  

• The annual travel credit is one of the easiest credits on the market to redeem.
• You’ll get a 50 percent boost when you redeem points for travel through Chase Travel℠.
• The card’s ongoing APR is high and the card has no intro APR offers to shield you from interest charges.
• The card’s lounge access pales a bit in comparison to comparable luxury credit cards.
• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.
• $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
• Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 60,000 points are worth $900 toward travel.
• 1:1 point transfer to leading airline and hotel loyalty programs
• Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more

American Express® Green Card

*The information about the American Express® Green Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

Earn 40,000 Membership Rewards® Points after you spend $3,000 in eligible purchases on your American Express® Green Card within the first 6 months of Card Membership.

Rewards Rate

Earn 3X Membership Rewards® points on travel including airfare, hotels, cruises, tours, car rentals, campgrounds, and vacation rentals. Earn 3X Membership Rewards® Points on transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways. Earn 3X Membership Rewards® points on eligible purchases at restaurants worldwide, including takeout and delivery in the US.

• 3X Earn 3X Membership Rewards® points on travel including airfare, hotels, cruises, tours, car rentals, campgrounds, and vacation rentals.
• 3X Earn 3X Membership Rewards® Points on transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways.
• 3X Earn 3X Membership Rewards® points on eligible purchases at restaurants worldwide, including takeout and delivery in the US.

What we love: This travel card comes with solid perks at a relatively low cost, allowing you to get a taste of luxury travel even if you only take a few flights per year. It also offers one of the most generous rewards rates out there on transit, making it a great pick for commuters. Learn more: Why the American Express Green card is great for flexible spending Alternatives: Though the Capital One Venture X carries a higher annual fee, it offers more than enough value to make it worth the cost. It may be a better value than the Amex Green overall thanks to its wider-reaching lounge access privileges, annual travel credit and ongoing anniversary bonus.   

• City dwellers and people who frequently use public transit can get plenty of rewards with this card.
• You’ll get an annual statement credit for CLEAR membership.
• Unless you use the Pay Over Time feature, you'll be required to pay your balance in full each month.
• It has lackluster lounge access compared to other premier travel cards.

Compare Bankrate’s top no-foreign-transaction-fee credit cards

All information about the American Express® Green Card has been collected independently by Bankrate.com and has not been reviewed or approved by the issuer.

When you use a credit card overseas to buy something in the local currency, your credit card issuer has to convert the money you’ve spent into U.S. dollars. It may seem like any other transaction, but the credit card issuer covers various costs associated with international purchases like transferring money through a foreign bank. Many issuers offset these costs by charging a foreign transaction fee for overseas purchases.

Why do banks charge a foreign transaction fee?

Overseas transactions are more complex than standard transactions as they require banks to convert the money spent into U.S. dollars. The total fee you pay often involves adding the charge from the issuing bank and the processing fee from the payment network (like Visa or Mastercard). However, Capital One and Discover don’t charge foreign transaction fees on any of their credit cards.

Foreign transaction fees are becoming less common, particularly among premium or travel credit cards . However, many cards still impose the charge.

When can banks apply foreign transaction fees?

It can be hard to avoid foreign transaction fees when making purchases abroad . Unless you pay with a credit card that waives this fee, you’ll likely pay a foreign transaction fee for:

• Hotel bookings: While it largely depends on the location of the hotel and the specific travel provider, your issuer may charge a foreign transaction fee when you book a stay in another country.
• Online purchases: If you purchase something from a seller based outside the U.S. and your transaction is processed abroad, your issuer could charge a foreign transaction fee — even if you’re shopping from the comfort of home.
• Debit card, charge card or gift card purchases: Unfortunately, you can't escape foreign transaction fees just by using a different type of card. Credit cards, debit cards, charge cards and even prepaid gift cards commonly charge foreign transaction fees.

Foreign transaction fees typically show up on your credit card statement at the end of your billing cycle and you pay them when you pay your credit card balance.

Depending on the issuer and card, a foreign transaction fee typically ranges from 1 percent to 3 percent, but it can go as high as 5 percent.

On its own, one or two foreign transaction fees may seem reasonable, but the more you spend, the more those fees start to add up. When traveling overseas or shopping with international vendors, you may also have to deal with other common credit card fees that can decrease your purchasing power, including cash advance fees, ATM fees and conversion fees.

Bankrate Insight

It’s a common misconception that paying in U.S. cash is a way to get out of paying a foreign transaction fee. It isn’t, and paying in U.S. dollars will likely cost you more because the price will include a currency conversion fee.

Top credit card issuers' foreign transaction fees

Foreign transaction fees by credit card issuers vary widely. Issuers like Amex and Discover have their own payment networks while other issuers, like Capital One or Chase, use Visa or Mastercard’s networks. Also, it’s not unusual for an issuer to charge a foreign transaction fee with some cards but not with others.

Here's a quick look at how the fee structure breaks down among several major credit card issuers:

As you search for a card to use for your upcoming international trip, it’s important to fully understand foreign transaction fees, how they work and how you can avoid them. Here’s what to think about when searching for a card with no foreign transaction fees:

How to choose a card with no foreign transaction fees

Check rewards: If you want to earn rewards while avoiding foreign transaction fees, look for cards that offer cash back, points, or miles in categories that match your spending habits.

Look at other perks: While choosing a travel credit card , compare the full suite of benefits each one offers. Along with rewards and no foreign transaction fees, top-tier travel credit cards commonly offer trip cancellation insurance, free checked bags, complimentary in-flight Wi-Fi, airport lounge access and other notable travel benefits.

Compare rates and fees: Common credit card fees include annual fees, late fees, balance transfer fees, cash advance fees and returned payment fees. Annual fees are most common among mid-tier and premium travel credit cards, even if these cards skip foreign transaction fees. Weigh whether you can offset an annual fee with reward earnings and added benefits, as you may find some cards with annual fees are worth it when they offer rewards.

Pick a card specific to your needs: For some people, no foreign transaction fees can save hundreds of dollars. People who travel overseas frequently, students studying abroad and some online shoppers may benefit most from picking a card that doesn’t charge foreign transaction fees. 

Still unsure if a no-foreign-transaction-fee credit card is right for you? Check out our Credit Card Spender Type Tool to get personalized credit card recommendations based on your credit score, spending habits and daily needs.

If you travel overseas or make purchases in foreign currencies, it's worth understanding why a card with no foreign transaction fee might benefit you. 

Reasons to get a card with no foreign transaction fees

Fewer costs.

If you're making multiple purchases in different currencies with a credit card that has foreign transaction fees, it can quickly add up. And if you're using a credit card that already has a high balance and charges interest, those fees can be even more painful.

Peace of mind

Using your debit card overseas comes with many benefits — but beware of some of the drawbacks. For example, if you become a victim of pickpocketing in a foreign country, your cash will be gone without any recourse, and there’s a chance that you still would be held liable for unauthorized charges with a stolen debit card. Credit cards can protect you against fraud and identity theft. Plus, you can request an overnight replacement card from the issuer.

More reward earnings

The average foreign transaction fee rate is 3 percent, and some cards only offer 1 to 2 percent cash back, effectively negating your rewards. If you have a card with no foreign transaction fees, spending abroad won’t eat into your earnings.

Better exchange rates

Using a Visa or Mastercard overseas can help you save on converting currency at a local ATM, bank or airport. Visa and Mastercard typically charge 1 percent to convert currency to U.S. dollars, saving you the added costs that could come with a merchant’s dynamic currency conversion rate (DCC).

Tracking expenses

If you charge everything to your credit card without foreign transaction fees, you won't have to keep track of different payment methods or currency exchange fees.

How to save on credit card fees when traveling abroad

When using your credit card internationally, follow these tips to ensure you’re spending your money wisely and not racking up unnecessary fees .

• Have a mix of credit cards. The excessive cost of foreign transaction fees can ruin a great experience when traveling abroad. While traveling internationally, you should use at least one credit card that doesn't charge foreign transaction fees if you want to keep these charges to a minimum. Be aware that not every credit card will work in every country, so before you go on your trip, make sure at least a couple of your credit cards use networks available in the places you’ll visit.
• Avoid cash advance fees. Withdrawing cash from an ATM with your credit card could cost you up to 5 percent of the amount withdrawn with each transaction. Additionally, you’ll also be on the hook for interest charges that are typically much higher than the normal interest charges you pay for carrying a balance. Try to avoid having to take out a cash advance by keeping some cash or a debit card on hand for emergencies.
• Check if you’re eligible for VAT refunds . Value-added tax (VAT) is a flat tax levied on purchases. The consumer owes the full amount of the tax to the government at the time of purchase. Some destinations offer visitors a refund on value-added tax for goods or merchandise. Details will vary by country, but typically you’ll need to ask the merchant to help you fill out a tax form and then show that form to customs upon your departure.
• Have a chip-and-PIN credit card.   If it's time for you to get a new card, go for one that has both a chip and a PIN — as it can save you from having to get cash from an ATM when you're visiting another country, and the transaction fee might be less than the foreign exchange fee the bank tacks on to your withdrawal. These cards will have a small metallic computer chip and require a 4-digit personal identification number to help verify purchases. These cards are also more secure in general if you don’t want to worry about any fraudulent activity like stolen card data or a stolen physical card.

Should I get a no-foreign-transaction-fee credit card or traveler’s checks?

Whether you should get traveler’s checks or a credit card with no foreign transaction fee depends on your preferences, but keep in mind that getting traveler's checks may be more difficult than using a credit card. Some banks no longer offer traveler's checks, so you may have to jump through more hoops to get them. 

However, with a credit card you can enjoy the same protections and benefits as you would with a traveler's check, such as:

• Replacement protection:  If you lose or have your traveler's checks stolen, you can replace them, but many credit cards also come with replacement protection. If your card is lost or stolen, you may notify your issuer and they will deactivate the existing card and send you a new one.
• Broad acceptance: You could use traveler's checks at places that didn't take personal checks. However, you wouldn't have to worry about acceptance with a Visa or Mastercard credit card. 
• Cash alternative:   While an added benefit of a traveler's check is that you could exchange it for cash, using a credit card with adequate security features makes using cash internationally unnecessary.

Alternatives to cards with no foreign transaction fees

If you're looking for an alternative to credit cards with no foreign transaction fees, here are some great options:

Using a traveler's check

When obtained through an eligible bank, you can use a traveler’s check almost anywhere in the world to make purchases. The paper document is cashed in exchange for local currency once you’re abroad. They are also safer than carrying cash, since you can replace them if they are stolen or lost.

Using a prepaid debit card

These cards let you load money onto them at home, then use them to make purchases wherever you go — no matter where in the world you are. You can even use these cards online or over the phone, just as if they were a traditional credit card.

Exchanging currency before you travel

It’s a good idea to have some local currency on hand in case you're somewhere that doesn’t accept credit cards. Before you travel, stop by your local bank and ask to exchange your dollars for your destination’s currency. Your bank will likely charge lower exchange fees  than you’ll find at the airport (or none at all).

When evaluating the best credit cards with no foreign transaction fee, we take into account several factors, including how cards score in our proprietary card rating system and whether they offer features that fit the priorities of a diverse group of cardholders, from earning rewards to scoring a large sign-up bonus to saving on interest.

We analyzed over 250 of the most popular credit cards and selected standouts that carry no foreign transaction fee. We scored each card based on the factors most relevant to its primary category, including its rewards rate, estimated annual earnings, intro APR period, ongoing APR, perks and more to determine whether it belonged in this month’s roundup.

Here are some of the key factors that we considered:

Solid rewards value

Since many cardholders looking for a card with no foreign transaction fee are eager to earn rewards, a key criteria for a card’s inclusion in our list is whether it offers impressive rewards value. This includes a card’s average rewards rate, estimated annual rewards earnings, sign-up bonus value and reward redemption value.

To estimate a card’s average annual rewards earnings, we calculate its average rewards rate based on how much it earns in different bonus categories, as well as how closely those categories match the average person’s spending habits. In other words: Does the card earn rewards at a high rate in the most popular spending categories?

We use consumer spending data from the Bureau of Labor Statistics (BLS) to get a reliable third-party measure of people’s spending habits. The most recent BLS data estimates average total spending in 2021 was $66,928 per consumer. We then narrow our focus to which purchases are likely to be put on a credit card and earn rewards, subtracting expenditures like housing, vehicle purchases and education. This gives us a total “chargeable” annual spend of around $22,500.

This includes the following spending by category:

• Groceries: $5,200
• Dining out: $3,000
• Entertainment: $2,500
• Gas: $2,100
• Apparel and services: $1,700

Using this data, we assign a weighting to each of a card’s bonus categories. For example, a card’s grocery rewards rate receives a 23 percent weighting based on how much of the average person’s budget is spent on groceries. We also estimate the redemption value of points or miles from various issuer, airline and hotel rewards programs.

This weighting and rewards valuation allows us to estimate a card’s average annual rewards earnings — how many points or miles you’d earn with a given card if your spending was about average and you used the card for all of your purchases — as well as what those points are worth. We also use point valuations to determine a card’s sign-up bonus value

With these calculations complete, we assign each card a score based on how its average rewards earnings, sign-up bonus value, rewards rate and redemption value stack up against other cards in its primary category.

The better these values, the higher its score will be, making it more worthy of inclusion in our list and increasing its potential ranking.

Reasonable fees and APR

[To start, all cards on this list charge no foreign transaction fee.

We also rate all cards based on how their ongoing average APR compares to the average APR you’ll find other cards in their primary category. However, the impact of an especially high or low APR on a card’s overall score depends on its primary category.

For rewards-earning cards, this factor has only a minor influence on the card’s score and whether the card is included in our list, since rewards card users generally try to avoid carrying a balance. That said, rewards-earning cards may get a solid boost in score and be more worthy of inclusion in our list if they also offer an intro APR on balance transfers or new purchases, since such offers aren’t always present on these cards.

More important to these cards’ scores and their inclusion in our list is how their annual fees influence their overall value. We consider a card’s annual fee in two ways — how it ranks relative to the fees you’ll find on other cards in the category and how it impacts a card’s overall rewards value. 

Cards with an annual fee will always be at a slight disadvantage in our scoring system since annual fees inherently cut into your rewards value. However, if a card offers terrific value via its ongoing rewards and perks, it can earn a high score and a spot in our list even if it carries a high annual fee. After all, the highest rewards rates and most valuable perks are often found on cards with annual fees.

Interest rates and intro APR offers play a much larger role in a card’s score and whether it’s included in our list when the card is designed specifically for users looking to save on interest charges, such as dedicated balance transfer or low-interest cards.

Other fees considered include cash advance and late payment fees, along with penalty APRs.

Flexibility and perks

Along with rewards value and cost, we consider other factors that could give cards great long-term value, like flexible rewards redemption and especially unique and valuable perks.

We rate rewards-earning cards based on the restrictions they impose on earning and redeeming rewards and consider this when deciding on a card’s inclusion in our list.

These restrictions could include only allowing users to earn a high rewards rate on a small amount of spending or requiring users to meet a certain earning threshold before they can redeem rewards. We also examine whether points are worth less when you opt for some redemption options over others and whether a card gives you the flexibility to transfer rewards to airline and hotel partners.

We also evaluate each card’s perks based on their value, usefulness and uniqueness. Cards that offer top-tier benefits like airport lounge access or travel credits are likely to stand out, but we also aim to highlight cards that offer valuable under-the-radar perks, like cellphone protection or one-off credits for everyday expenses like dining and streaming services.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

Frequently asked questions about no foreign transaction fee credit cards

Which banks charge no foreign transaction fees.

• Capital One 360
• Charles Schwab Bank

Which travel rewards card is best for international transactions?

The best overall card for international transactions will vary depending on your specific overseas travel needs, but Bankrate has rated cards like the Chase Sapphire Reserve card, Platinum card from American Express and the Capital One VentureOne Rewards card as some of the best travel rewards cards with no foreign transaction fee.

How do you determine if your existing credit card charges a foreign transaction fee?

How do i calculate a foreign transaction fee.

If you’re curious to know how much you’ll pay for a foreign transaction fee, multiply the purchase price by the fee percentage. Then add the result to the purchase price. For example, let’s say your nephew’s favorite soccer team is Manchester United F.C., so you buy him a jersey from an online retailer based in England using a credit card that charges a 3 percent foreign transaction fee. If this purchase costs $100, the fee would be $3, bringing your total cost to $103 ($100 x 3 percent = $3, $100 + $3 = $103).

How do I calculate currency conversion?

To understand what you're being charged overseas versus what you'd be paying in your home currency, just divide the base amount (base currency) by the finishing amount (foreign currency) to determine the exchange rate. 

Ask the experts: Is it worth it to get a credit card with no foreign transaction fee for a one-time overseas trip?

Erica Sandberg

Thomas Nitzsche

Stephanie Zito

Contributor, Credit Cards

Absolutely! Foreign transaction fees can be expensive. Unless you have a credit card that does not charge them, be prepared to be charged an extra 3 percent on your transactions. For example, if you take a trip to France and spend $5,000 on your card, an additional $150 may be added to that amount. Your money could have gone to a lovely meal at a special café instead. The good news is that there are many credit cards available that do not charge foreign transaction fees. If you know that you will be traveling internationally, apply for one before you go.

Financial Educator, Debt and Credit

Depending on how much you plan to spend on your trip, and assuming you don’t already have a card with no foreign transaction fees, it may be worth it to shop for a card that will help you avoid the 3 percent typical fee. Be aware that most recommended cards will require good to excellent credit in order to be approved. You may want to consider zero-fee cards which also have other perks or rewards you will use in the future.

Contributor, Personal Finance

There are so many card options out there these days that there is absolutely no reason to use any of your vacation money to pay foreign transaction fees on your credit card. Even if you only take a big international trip just once a year, you’ll always be better off using a card with no foreign transaction fees. If you don’t already have one in your wallet, I’d recommend a Visa over American Express or MasterCard for ease of international acceptance. You can even find one like the Capital One Quicksilver Cash Rewards Credit Card or Capital One Savor Cash Rewards Credit Card that has no foreign transaction fees and no annual fee.

Article sources

We use primary sources to support our work. Bankrate’s authors, reporters and editors are subject-matter experts who thoroughly fact-check editorial content to ensure the information you’re reading is accurate, timely and relevant.

“ What is Dynamic Currency Conversion? ” Visa. Accessed on Jan. 5, 2024

“ Guide to VAT refund for visitors to the EU ” European Commission. Accessed on Jan. 4, 2024.

Lowry, C. “ Everything you need to know about traveler's checks ” Western Union. Accessed on Jan. 4, 2024.

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author’s alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.

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Courtney Johnston is a senior editor leading the CNET Money team. Passionate about financial literacy and inclusion, she has a decade of experience as a freelance journalist covering policy, financial news, real estate and investing. A New Jersey native, she graduated with an M.A. in English Literature and Professional Writing from the University of Indianapolis, where she also worked as a graduate writing instructor.

Julia Menez

Credit card expert and host of the Geobreeze Travel Podcast

Julia Menez is a points strategy coach, speaker, and host of the Geobreeze Travel Podcast. Through her podcast and social media channels, she distills the strategies from top award travelers around the world and creates step-by-step tutorials for how you can make the most out of your points and miles.

Many credit cards charge foreign transaction fees, but most competitive rewards and travel cards don’t. However, just because a credit card doesn’t charge a foreign transaction fee doesn’t mean it’s the best fit for your wallet. Some cards may have other fees that are more costly and occasionally recurring. Look at the card as a whole and review other factors, like rewards rates, annual fees, introductory offers, welcome bonuses and other perks before deciding if a card is right for you.

Choosing a credit card to use on an international trip can be complicated – especially if you want to maximize your rewards while avoiding foreign transaction fees. But you can avoid these fees using a credit card that doesn’t charge them and instead focus on other factors, such as base rewards, travel-related perks and annual fees.

International travel is expensive enough without getting foreign transaction fees into the mix. These fees -- usually 2% to 5% of any transaction made in a foreign currency -- might not seem like much, but depending on the length of your trip, they could start to add up.

Luckily, many of the best travel credit cards don’t charge foreign transaction fees. Plus, credit cards offer beneficial rewards and perks like fraud and purchase protections. They also make converting money to the local currency more convenient. Here are some of the best credit cards with no foreign transaction fees to help you save the next time you travel outside the US.

Chase Sapphire Preferred® Card

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 Chase Travel℠. 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.

Read our Chase Sapphire Preferred review .

Wells Fargo Autograph℠ Card

While most travel credit cards focus on flight and hotel purchases, the Wells Fargo Autograph Card also provides rewards on 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 on par with what you’ll get from most credit cards with no foreign transaction fees or annual fee. You can earn 20,000 bonus points -- worth a $200 cash redemption value -- when you spend $1,000 in purchases in the first three months.

For more information about this card’s offer, see our  Wells Fargo Autograph Card review .

American Express® Gold Card

The American Express Gold Card’s* $250 annual fee may be higher than most cards on this list, but its rewards structure is solid for frequent travelers (and you won’t pay foreign transaction fees; see rates and fees ). You’ll earn 4x Membership Rewards points at restaurants, and 3x Membership Rewards points on flights booked directly with the airline or on amextravel.com. Points are worth 1 cent each when you redeem them for flights through American Express Travel. Transferring your points to an airline partner also can yield a one-to-one transfer value.

Check out our full American Express Gold Card review .

Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card* offers flat-rate rewards on purchases, making it a good everyday credit card that you can also use on trips abroad. You’ll earn 1.5% on all purchases -- and 5% on car rentals or hotels booked via the Capital One Travel portal. The sole travel benefit is no foreign transaction fees. But you can still take advantage of the competitive introductory APR and welcome bonus.

For more information, see our  Capital One Quicksilver review .

Capital One Venture Rewards Credit Card

Capital One loads the Capital One 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 Global Entry or TSA PreCheck 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 more than 15 hotel and airline programs.

Check out our full review of the  Capital One Venture Rewards Credit Card .

Citi Premier® Card

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: 60,000 bonus points -- redeemable for $600 in gift cards or travel rewards 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  Citi Premier Card review .

Capital One SavorOne Cash Rewards Credit Card

For a credit card with no annual fee or foreign transaction fees, the Capital One SavorOne Cash Rewards Credit Card* delivers competitive rewards. You’ll earn 3% cash back on a handful of major categories: dining, entertainment, grocery stores (excluding superstores like Target and Walmart) and popular streaming services. And you can earn 8% cash back on Capital One Entertainment purchases, 5% back on hotel and rental car bookings made through Capital One Travel and 1% on all other purchases. You also get 10% cash back on purchases with Uber and Uber Eats, plus a complimentary Uber One membership through Nov. 14, 2024.

For more details about the rewards, welcome bonus and introductory APR, see our  Capital One SavorOne review .

Bank of America® Travel Rewards credit card

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 or restrictions. This card offers 0% introductory APR for 15 billing cycles on purchases and on any balance transfers made in the first 60 days (18.24% to 28.24% variable APR thereafter), providing some wiggle room to help finance a trip or pay down a large balance.

See our full review of the  Bank of America Travel Rewards card  for more information.

Discover it® Miles

The Discover it® Miles* card offers an excellent welcome bonus after your first year as a cardholder. All Discover cards 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.

Capital One QuicksilverOne Cash Rewards Credit Card

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 improve your credit.

A foreign transaction fee is a fee charged by a credit card issuer or bank for purchases made outside the US. Foreign transaction fees generally cost between 2% and 5% of each transaction, but 3% is standard. Depending on which currency you make a purchase in, this fee may increase or decrease. And these fees can add up quickly during a getaway.

For example, if you use a credit card that charges foreign transaction fees to pay for a $40 dinner abroad, you’ll pay between 80 cents and $2 more, depending on your card’s foreign transaction fee rate.

Before you apply for a credit card with no foreign transaction fees, you should consider the benefits and potential pitfalls with this kind of card.

Avoid paying fees for transactions made in a foreign currency. 

Credit cards offer fraud and purchase protections.

Convenient payment option that converts foreign currency automatically.

Credit cards with no foreign transaction fees may charge annual fees.

Credit cards may not be accepted at certain merchants or in some countries.

Travel credit cards may not offer as many benefits beyond the travel rewards. 

How to choose the right credit card with no foreign transaction fees 

Many travel credit cards do not charge foreign transaction fees, but the list of potential fees won’t stop there. Before opening a credit card with no foreign transaction fees, compare all of your options and watch for other fees -- like annual fees or merchant fees -- you might incur. Some factors to consider include:

• Annual fees: Credit cards that offer more premium perks generally have an annual fee , but often forgo foreign transaction fees. These cards usually come with statement credits, welcome bonuses , discounts and complimentary memberships to offset the charge. Annual fees can range from $0 to hundreds of dollars, so it’s important to weigh whether a card’s rewards and benefits provide enough value to justify its cost . For example, if a hotel card charges $95 per year but comes with an annual free hotel night, so long as you use it for a hotel that would normally cost more than $95, the benefits would outweigh the card’s cost.
• Rewards: If you’re using your credit card abroad, you may benefit from earning in your rewards categories -- such as dining, gas and entertainment. Make sure you choose a rewards credit card that complements your spending habits, so you don’t have to adjust or juggle multiple cards on your trip. The rewards you earn while traveling may be helpful toward your next trip. For example, points earned with issuers like Chase, American Express and Capital One can be used with a variety of airline and hotel partners.
• Traveling perks: With the right travel credit card, you’ll not only benefit from its standard base rewards structure, but some top-tier rewards cards offer other benefits, like trip insurance, boosted travel rewards, TSA PreCheck or Global Entry credits, airport lounge access and more. For example, the Capital One Venture X Rewards Credit Card * includes an annual $300 travel credit to use through the Capital One portal, plus you will receive automatic top-tier Hertz President’s Circle** status and access to both Capital One and Priority Pass airport lounges.

International travel can be complicated if you don’t take a few extra steps to minimize the cost of spending money while abroad. In addition to using a card with no foreign transaction fees to eliminate unnecessary fees, there are some other ways you should prepare for a trip out of the country. 

“Before taking off for a trip, make sure that you have a debit card to access cash at an ATM, which is the easiest and least expensive way to access your money abroad,” said Jason Steele, a credit card industry expert. 

And if you’re going to use a credit card -- even one with no foreign transaction fees -- you’ll want to let your card issuer know you’ll be out of the US. Although card issuers no longer require you to inform them when you’re traveling abroad, many experts recommend taking this step as a precaution. This ensures your card company knows your transactions are authorized and not fraudulent. “Make sure to let the card issuers know the dates you will be traveling and the countries you’ll be visiting to prevent any false alarm over suspected fraud,” Steele said.

 Here are some other steps you should take before hopping on a plane:

• Take at least 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.
• 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 know how much you’re actually spending.

If you don’t travel outside the US often, a credit card with no foreign transaction fees may not offer the maximum benefits for you. To find a card with the benefits and perks that best fit your budget and spending style, pick one of the best credit cards . For example, the Chase Sapphire Preferred is one of the most popular starter travel cards for people looking to earn more points and miles. Along with other travel benefits, the Chase Sapphire Preferred doesn’t have any foreign transaction fees.

If you do travel internationally, a credit card still may not be the best option if you travel to countries whose businesses still conduct most of their transactions in cash. Even in countries where credit cards are widely accepted, some restaurants and small businesses require a minimum purchase -- usually the equivalent of $10 or more -- to accept a credit card. That’s why it’s a good idea to carry a debit card.

By using your debit card to withdraw cash at an ATM in a foreign country, you’ll get the bank’s wholesale rate, as long as you decline any currency conversions the ATM offers to make for you. But remember to ask your bank about any international ATM fees before you travel.

Follow these steps to apply for a credit card.

• Choose a card that fits into your budget and travel goals
• Follow the appropriate link above to be taken to the credit card issuer’s secure site
• Fill out the appropriate financial and personal information including your name, address, date of birth, Social Security number, income, and monthly rent or mortgage payment
• Use the card responsibly and always pay on time
• Capital One VentureOne Rewards Credit Card *
• Discover it® Cash Back *
• Chase Sapphire Reserve®
• The Platinum Card® from American Express

It’s not unusual for credit card issuers to charge foreign transaction fees, but it’s easy enough to avoid with the right credit card. If you travel abroad frequently, a credit card with no foreign transaction fees can save you money each time you use it. Some of the best travel and rewards credit cards not only void foreign transaction fees, but some even let you earn boosted travel rewards and benefits.

Our top choice is the Chase Sapphire Preferred® Card. It charges no foreign transaction fees and provides access to a flexible, lucrative rewards program and useful card perks.

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’s 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.

Mastercard, Visa, American Express and Discover are the four major credit card processors . Visa and Mastercard are the two most widely accepted credit cards around the world and are your best bet if you intend to travel overseas and pay for goods with a credit card.

American Express may be popular in the US, but it’s not as widely accepted abroad -- and Discover is even less accepted outside the US. It’s a good idea to carry a Mastercard or Visa as a backup if your primary card is American Express or Discover.

If your credit card does charge foreign transaction fees, you should select to pay in the local currency instead of in US dollars when using your card abroad. This way your credit card network will handle the conversion. Otherwise, the merchant selects the exchange rate (known as dynamic currency conversion) to convert the cost of the item, which may result in a higher cost.

CNET reviews credit cards  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.

For rates and fees of the American Express Gold Card, click here .

*All information about the American Express Gold Card, Discover it Miles, Discover it Cash Back, Capital One Venture Rewards Credit Card, Capital One Venture X Rewards Credit Card, Capital One Quicksilver Cash Rewards Credit Card, Capital One SavorOne Cash Rewards Credit Card, Bank of America Travel Rewards credit card, Capital One QuicksilverOne Cash Rewards Credit Card, Capital One VentureOne Rewards Credit Card and Discover it® Cash Back has been collected independently by CNET and has not been reviewed by the issuer.

**Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at upgraded status level through December 31, 2024. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply .

This article includes some material that was previously published on NextAdvisor, a CNET Money sister site that was also owned by Red Ventures and which has merged with CNET Money. It has been edited and updated by CNET Money editors.

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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.

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Best No Foreign Transaction Fee Credit Cards of April 2024

Some of the card offers on this site are from companies who are advertising clients of U.S. News. Advertising considerations may impact where and in what order offers appear on the site but do not affect any editorial decisions, such as which card products we write about and how we evaluate them. Terms apply.

Best Credit Cards With No Foreign Transaction Fee of April 2024

• Discover it® Balance Transfer : Best feature: 0% Introductory APR.
• Discover it® Cash Back : Best feature: Cash back on everyday purchases.
• IHG One Rewards Traveler Credit Card : Best feature only: Bonus points at IHG hotels.
• Discover it® Miles : Best feature: Travel rewards.
• United Gateway℠ Card : Best feature: United Airlines rewards.

Not all credit cards are a good choice for traveling abroad, as some charge a fee for purchases made in a foreign country or currency. Known as foreign transaction fees, these charges can accumulate quickly and add to travel expenses. Still, many credit cards waive foreign transaction fees and may offer rewards and benefits that make foreign travel safer, less expensive and more convenient. Terms apply.

U.S. News' Best No Foreign Transaction Fee Credit Cards of April 2024

See all of our credit cards here .

On This Page

• Best No Foreign Transaction Fee Credit Cards

What Are Foreign Transaction Fees?

Foreign transaction fees are charges you pay for credit card purchases made in a foreign currency, including online purchases. You might also hear them referred to as FX fees.

How Much Are Foreign Transaction Fees?

The fee is calculated as a percentage of the purchase price, usually up to 3%.

When you make a credit card purchase in a foreign country, your card network converts the foreign currency to dollars. The network, such as Visa or Mastercard, charges your card-issuing bank a fee, typically 1%, to offset the conversion cost and the risk of fraud inherent to international transactions. Your card issuer may pass that fee on to you and add its own fee of 1% to 2%.

What Are the Pros and Cons of No Foreign Transaction Fee Credit Cards?

• Save money on purchases overseas. You can save the fee – up to 3% of each transaction, whether you're traveling abroad or using your card for an online purchase from a merchant outside of the U.S.
• Earn cash back or other rewards. Find a card that charges no foreign transaction fee and earns points, miles or cash back rewards for your spending. But choose a credit card that matches your spending habits to make your money go further.
• Access other travel perks. Cards with no foreign transaction fee may include trip cancellation insurance, free checked luggage and rental car benefits, to name a few.
• You might pay an annual card fee. The card you want could have an annual fee. If you select a card with an annual fee, make sure you will earn enough rewards to cover the charge.
• Your card network may not have coverage. American Express and Discover aren't as widely accepted internationally as Visa and Mastercard. When you travel abroad, bring backup cards and cash.
• You could pay a higher APR with a rewards card. Avoid carrying a balance if you go with this type of credit card to maintain the value of your rewards.

What Is Dynamic Currency Conversion?

A process known as dynamic currency conversion allows you to be charged in dollars while traveling abroad, but you could pay a poor exchange rate and other fees for it.

At the point of sale, a foreign merchant may ask if you want to be charged for an item in dollars instead of local currency to give you a better idea of what it costs. DCC may sound good, but just decline this optional service and pay in local currency.

The fee that merchants tack onto your bill for the convenience of paying in dollars can be as high as 7% of the transaction, sometimes more. Also, some credit cards still charge the foreign transaction fee on top of the DCC fee.

Finally, you may get a better exchange rate by letting your credit card provider do the currency conversion to dollars.

How Should You Choose a Card With No Foreign Transaction Fee?

1. Determine the type of credit card you want. Many kinds of credit cards come without a foreign transaction fee, including:

• Rewards credit cards .
• Travel credit cards .
• Cash back credit cards .
• Student credit cards .
• Cards for bad credit .

2. Make sure the card is widely accepted overseas. Because of higher processing fees, American Express and Discover have lower acceptance rates worldwide than Visa and Mastercard. American Express and Discover are fairly well accepted in the U.S., Canada and Mexico but may be limited elsewhere.

3. Look for useful travel benefits. Plenty of cards with no foreign transaction fee may stand out as great travel cards with extensive travel benefits. World Elite Mastercard and Visa Signature cards, in particular, offer perks that often include:

• Trip cancellation and interruption insurance.
• Trip delay reimbursement.
• 24/7 concierge services.
• Lost luggage reimbursement.
• Auto rental collision damage waivers.
• Baggage delay insurance.
• Roadside assistance.
• 24/7 customer service.

What Should You Know About Traveling Abroad With Your Credit Cards?

Try these tips to avoid financial surprises on your trip:

• Contact your issuer. Let your issuers know about travel plans. Otherwise, they might freeze your account for fraud when they see purchases made in a different location.
• Use a debit card for ATM withdrawals. Using a credit card is processed as a cash advance and that means you'll pay high interest on the amount you borrow.
• Be aware of the exchange rate. Credit card networks typically provide exchange rates that are close to the fair market rate. But before you travel, install a currency conversion app on your phone as a quick reference.
• Avoid dynamic currency conversion. You risk paying a much higher conversion rate on top of additional fees.
• Make sure your card has an EMV chip. If not, ask your issuer to mail you a chip-enabled card at least two weeks before your trip. These chip and PIN cards are common in Europe, and using one there can reduce hassles at checkout.
• Bring photocopies of your credit cards. Having copies of the front and the back of your credit cards gives you easy access to their customer service numbers if they are lost or stolen. Black out details such as your name, card expiration date and CVV number.
• Carry backup forms of payment. Pack a widely used credit card, such as a Visa or a Mastercard, a debit card for cash, and an additional credit card in case your primary one is unusable.
• Research your card's travel benefits and perks. You might be entitled to benefits that can help you deal with travel mishaps, such as lost bags and trip delays. Perks might include discounted or free entry to airport lounges, priority boarding, free checked luggage, and free in-flight Wi-Fi.
• Know how your card issuer can help in an emergency. Some issuers offer expedited card replacements, a 24/7 benefits administrator who can supply medical or legal referrals, assistance with prescriptions, and other emergency services.

Should I Use a Credit Card or a Traveler's Check?

Before credit cards and debit cards evolved to be more travel friendly, traveler's checks were popular. You can still get traveler's checks, but be aware of the advantages and disadvantages before using them in place of credit or debit cards.

Advantages of traveler's checks:

• You can exchange them for cash or use them to pay for goods and services during your travels.
• If the checks are lost or stolen, you don't lose your cash.
• They do not expire and are redeemable at the current exchange rate, often without fees.

Disadvantages of traveler's checks:

• Some merchants may not accept them.
• They lack the benefits and perks of travel rewards credit cards.

Now that credit cards are widely accepted, you can use them more easily during your international trips. That's especially true of credit cards with no foreign transaction fees. You can also save on travel by booking reservations with your travel rewards credit card.

Does a Foreign Transaction Fee Depend on Currency Exchange Rates?

The foreign transaction fee you pay does not depend on exchange rates. You also may be charged a currency conversion fee on top of a foreign transaction fee. This is why using a credit card with no foreign transaction fee can help you save money when traveling abroad.

Alternatives to Credit Cards With No Foreign Transaction Fees

• Exchange currency before you travel. Then stick with cash instead of cards. Visit your bank before your trip and swap your dollars for your destination's currency. You could pay a low fee or no fee.
• Apply for a travel rewards card. Many travel cards have no foreign transaction fee and offer travel rewards and benefits. If you choose a card with an annual fee, make sure you can justify it with rewards and perks.
• Get a debit card or a checking account with no foreign transaction fees. This will help you avoid fees for withdrawing cash from an ATM abroad.
• Consider using traveler's checks. These don't have foreign transaction fees and can be replaced if lost or stolen, unlike cash.

Best No Foreign Transaction Fee Credit Cards Methodology

U.S. News has been helping consumers make money decisions for decades. For our Best Credit Cards With No Foreign Transaction Fee list, we considered overall issuer satisfaction ratings, rewards earning rates, annual fees, APRs and sign-up bonus values. Satisfaction data is based on an annual nationwide survey.

To qualify for this list, a card must not charge a foreign transaction fee. Those who travel and make purchases in a foreign country or currency need a card that doesn't charge a fee for international purchases. Choose the best card for you with no foreign transaction fee by comparing cards on this list that have other perks to enhance your travel experiences.

Comparative assessments and other editorial opinions are those of U.S. News and have not been previously reviewed, approved or endorsed by any other entities, such as banks, credit card issuers or travel companies. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired.

Beverly Harzog , Credit Card Expert

Beverly Harzog  is a nationally recognized personal finance and credit card expert for U.S. News & World Report. She’s the bestselling and award-winning author of five personal finance books. Harzog puts her expertise to practice in her personal life by saving thousands every year on travel and everyday expenses by using a combination of credit cards in various categories. Read more

Ali Cybulski , Contributor

Ali Cybulski has been an editor on the Advice Products team at U.S. News since 2018 and focuses on credit cards and loans content. Her experience traverses print and digital media. Among other roles, Cybulski has been a copy editor at The Chronicle of Higher Education and at USA Weekend, the former Sunday magazine. Read more

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Find the best credit card for you

Traveling overseas here are our top picks for credit cards with no foreign transaction fees, we evaluated the most popular credit cards with no foreign transaction fees to find the best of the best..

Traveling abroad can be expensive, but it's even worse when you have a credit card that charges you foreign transaction fees. These fees can be 3% or more of each purchase and add up quickly, especially when you're paying for big-ticket items like hotel rooms or rental cars.

Thankfully, there are credit cards geared toward travelers that don't charge foreign transaction fees and have wide acceptance overseas . And anyone who travels abroad — even if only occasionally — can save money with these cards.

To help you find the best option for you, CNBC Select chose our favorite credit cards with no foreign transaction fees and broke them down into specific categories. (See our methodology for more information on how we choose the best cards with no foreign transaction fees.)

Best credit cards without foreign transaction fees

• Best overall: Capital One Venture Rewards Credit Card (see rates and fees )
• Runner-up: Chase Sapphire Preferred® Card
• Best for cash back: Alliant Cashback Visa® Signature Credit Card
• Best for dining: Capital One Savor Cash Rewards Credit Card*
• Best for luxury travel: Chase Sapphire Reserve®
• Best for hotels: Capital One Venture X Rewards Credit Card (see rates and fees )
• Best for no annual fee: Discover it® Miles
• Best for small businesses: Ink Business Preferred® Credit Card

Best overall

Capital one venture rewards credit card.

5 Miles per dollar on hotel and rental cars booked through Capital One Travel, 2X miles per dollar on every other purchase

Welcome bonus

Earn 75,000 bonus miles once you spend $4,000 on purchases within 3 months from account opening

N/A for purchases and balance transfers

Regular APR

19.99% - 29.99% variable

Balance transfer fee

$0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you

Foreign transaction fee

Credit needed.

Excellent/Good

See rates and fees , terms apply.

• 5 miles per dollar on hotel and rental cars booked through Capital One Travel
• Global Entry or TSA PreCheck application fee credit up to $100 every 4 years
• No introductory APR
• There’s a $95 annual fee

Who's this for? Anyone who wants a card that's just as rewarding on the road as when you're home should consider the Capital One Venture Rewards Credit Card because it earns at least 2X miles on all purchases worldwide.

Is it worth it? The Capital One Venture card has several perks that can make the $95 annual fee worth paying, including a Global Entry or TSA PreCheck application fee credit of up to $100 (every four years). The miles this card earns are also incredibly useful and highly versatile. (see rates and fees )

[ Jump to more details ]

Chase Sapphire Preferred® Card

Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, and $50 annual Chase Travel Hotel Credit, plus more.

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.

21.49% - 28.49% variable on purchases and balance transfers

Either $5 or 5% of the amount of each transfer, whichever is greater

Terms apply.

Read our Chase Sapphire Preferred® Card review .

• Points are worth 25% more when redeemed for travel via Chase Travel℠
• Transfer points to leading frequent travel programs at a 1:1 rate, including: IHG® Rewards Club, Marriott Bonvoy™ and World of Hyatt®
• Travel protections include: auto rental collision damage waiver, baggage delay insurance and trip delay reimbursement
• No fee charged on purchases made outside the U.S.
• $95 annual fee
• No introductory 0% APR

Who's this for? The Chase Sapphire Preferred® Card is a travel credit card that's loaded with under-the-radar perks. And it earns Chase Ultimate Rewards ® points , which are some of the best travel rewards you can collect.

Is it worth it? The Chase Sapphire Preferred Card comes with a $50 Annual Chase Travel Hotel Credit, which already offsets more than half of its $95 annual fee . It also provides  primary rental car insurance , which is normally a pricey add-on, as well as other valuable perks like trip delay protection , trip cancellation and interruption insurance, baggage delay insurance and more.

Best for cash back

Alliant cashback visa® signature credit card.

2.5% cash back on your first $10,000 of qualifying eligible purchases (1.5% for purchases over $10,000)

17.49% to 27.49% variable

• 2.5% cash back on all purchases (up to $250 in cash back rewards per billing cycle)
• No annual fee
• Simple cash-back rewards
• No welcome bonus
• No special financing offers

Who's this for? The Alliant Cashback Visa® Signature Card is ideal for those who prefer to earn cash back and don't want to pay an annual fee .

Is it worth it? The appeal of the Alliant Cashback Visa Signature Card is simple. It earns a stellar 2.5% cash back on your first $10,000 of qualifying eligible purchases (1.5% for purchases over $10,000). And with no annual fee, you can keep this card long-term without worrying about your overall value being dinged.

Best for dining

Capital one savor cash rewards credit card.

4% cash back on dining and entertainment, 4% on eligible streaming services, 3% at grocery stores and 1% on all other purchases

Earn a one-time $300 cash bonus once you spend $3,000 on purchases within the first three months from account opening

4% for promotional APR offers; none for balances transferred at regular APR

• Unlimited 4% cash back on entertainment purchases
• Ability to redeem rewards at any amount, unlike some other cards with $25 minimums
• No introductory 0% financing offers for purchases or balance transfers

Who's this for? Foodies , sports fans, movie buffs and adventure seekers will all find a common reason to like the Capital One Savor Cash Rewards Credit Card* : unlimited 4% cash back on dining, entertainment and streaming purchases.

Is it worth it? The Capital One Savor Cash Rewards Credit Card* offers very competitive rewards rates for several popular spending categories. You only need to spend $2,375 a year in a combination of the card's 4% cash-back categories to earn enough rewards to cover its $95 annual fee. Plus, the card offers money-saving benefits with Uber .

Best for luxury travel

Chase sapphire reserve®.

Earn 5X total points on flights and 10X total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases plus, 10X points on Lyft rides through March 2025

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.

22.49% - 29.49% variable

5%, minimum $5

Read our Chase Sapphire Reserve® review.

• $300 annual travel credit for travel purchases
• Global Entry or TSA PreCheck application fee credit up to $100 every four years
• Priority Pass™ Select lounge access at 1,000+ VIP lounges in over 500 cities worldwide
• Points are worth 50% more when redeemed for travel via Chase Travel℠
• Special benefits at The Luxury Hotel & Resort Collection
• Complimentary year of Lyft Pink membership
• High annual fee, but it can be offset by taking advantage of all the card’s perks
• Estimated rewards earned after 1 year: $1,469
• Estimated rewards earned after 5 years: $3,346

Rewards totals incorporate the points earned from the welcome bonus

Who's this for? The Chase Sapphire Reserve® is designed for frequent travelers who want to maximize their earnings while enjoying luxury perks.

Is it worth it? The Chase Sapphire Reserve has a higher annual fee , but also offers elevated benefits to justify it, such as an annual travel credit of up to $300 for travel purchases charged to your card each account anniversary year, airport lounge access, top-tier travel and purchase protections and a fee credit of up to $100 for Global Entry, TSA PreCheck or NEXUS. Plus, with the Sapphire Reserve, your rewards are worth 50% more when redeemed through Chase Travel℠.

Best for hotels

Capital one venture x rewards credit card.

Unlimited 2X miles on all eligible purchases, and 5 Miles per dollar on flights and 10 Miles per dollar on hotels and rental cars when booked via Capital One Travel portal

Earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening

19.99% - 29.99% variable APR

$0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you

Foreign transaction fees

Read our Capital One Venture X Rewards Credit Card review.

• Large welcome bonus
• No foreign transaction fees
• Up to $100 statement credits for either Global Entry or TSA PreCheck®
• Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
• High annual fee
• No introductory 0% APR period

Who's this for? The Capital One Venture X Rewards Credit Card is great for those who want to earn a strong return on their hotel stays booked through Capital One Travel and potentially get elite-like benefits.

Is it worth it? The Capital One Venture X's $395 annual fee (see rates and fees ) can be more than offset each year thanks to the card's $300 annual Capital One Travel credit and 10,000-mile anniversary bonus (worth at least $100 in travel). Cardholders also enjoy various travel protections, airport lounge access, flexible rewards and useful hotel benefits on stays booked through Capital One's Premier Collection and Lifestyle Collection .

Best for no annual fee

Discover it® miles.

Automatically earn unlimited 1.5x Miles on every dollar of every purchase.

Discover will match all the Miles earned for all new cardmembers at the end of your first year.

0% Intro APR for 15 months on purchases

17.24% to 28.24% Variable

3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*

Good / Excellent

*See rates and fees , terms apply.

Read our Discover it® Miles review.

• Miles program
• Generous welcome bonus
• No blackout dates
• No limit to the amount of miles you can earn and miles never expire
• No Global Entry or TSA PreCheck statement credit offerings
• Travel spending does not receive additional rewards
• No airport lounge access

Who's this for? The Discover it® Miles card is perfect if you don't want to navigate bonus spending categories or complicated benefits.

Is it worth it? With an excellent rewards rate on all purchases and no annual fee to pay, you can continue benefiting from this card year after year. The miles you earn with this card are worth one cent each for travel or as cash back and the best part is, Discover will match every mile that you earn in the first 12 months. That means you've got a year where you're effectively earning 3X miles on every purchase.

Best for small businesses

Ink business preferred® credit card.

Earn 3X points per $1 on the first $150,000 spent in combined purchases in select categories each account anniversary year (travel; shipping purchases; internet, cable and phone services; and advertising purchases with social media sites and search engines), 1X point per $1 on all other purchases

Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.

21.24% - 26.24% variable

Good/Excellent

Read our Ink Business Preferred® Credit Card review.

• Free employee cards
• Points are worth 25% more when you redeem for travel through Chase TravelSM
• 1:1 point transfer to leading frequent travel programs
• Generous welcome bonus worth up to $1,000

Who's this for? The Ink Business Preferred® Credit Card is geared toward small business owners who want to maximize their travel rewards. It earns a competitive 3X Chase Ultimate Rewards points on the first $150,00 in combined purchases each year (then 1X points) in a wide range of spending categories.

Is it worth it? The Ink Business Preferred offers many different travel and purchase protections that make its moderate annual fee worth paying. Eligible purchases are covered by cell phone protection , rental car insurance and trip delay reimbursement. Plus, the card earns transferrable Ultimate Rewards points , which are some of the easiest to use and most valuable travel points you can earn.

More on our top credit cards without foreign transaction fees

The Capital One Venture Rewards Credit Card is versatile yet straightforward. It's a top pick for credit cards without foreign transaction fees because it checks every box for what you need in a travel card and more.

• 5X miles per dollar on hotel and rental cars booked through Capital One Travel
• 2X miles per dollar on every other purchase

Earn 75,000 bonus miles once you spend $4,000 on purchases within three months from account opening.

$95 (see rates and fees )

Notable perks

Cardholders receive Hertz Five Star status and a credit of up to $100 to cover Global Entry or TSA PreCheck® membership every four years. Eligible purchases made with the card also qualify for travel accident insurance**, rental car insurance (secondary)** and extended warranty protection* *.

The Capital One miles earned with this card can be used to offset eligible travel purchases at a rate of one cent per mile or transferred to various airline and hotel partners for potentially greater value. For example, you can transfer Capital One miles to Turkish Airlines Miles&Smiles at a 1:1 rate and book round-trip domestic award flights on United for only 15,000 miles.

[ Return to card summary ]

**Terms, conditions and exclusions apply.  Refer to your Guide to Benefits for more details.

The Chase Sapphire Preferred® Card is ideal for maximizers and beginners alike. It earns valuable Chase Ultimate Rewards points and is loaded with travel and purchase protection benefits, all for a modest annual fee.

• 5X on travel purchased through Chase Travel℠
• 5X points per dollar spent on Lyft purchases through March 2025
• 3X points per dollar spent on dining
• 3X points per dollar spent on online grocery purchases (excluding Target, Walmart and wholesale clubs).
• 3X points per dollar spent on select streaming services
• 2X points per dollar spent on all other travel purchases
• 1X points per dollar spent on all other purchases
• 10% anniversary points boost
• $50 Annual Chase Travel Hotel Credit

Earn 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening.

The Chase Sapphire Preferred Card offers cardholders up to $50 in annual credit for hotel bookings made through the Chase travel portal and a 10% anniversary bonus on the points they earn. Cardholders can also take advantage of many travel and shopping protections, such as purchase protection , extended warranty protection, primary rental car insurance, trip delay insurance, baggage delay insurance and more.

Chase also has several temporary benefits that can help card members save money, including one year of complimentary DashPass membership (when activated by Dec. 31, 2024) and six months of free Instacart+ membership (activate by July 31, 2024), plus a $15 quarterly Instacart credit through July 2024. The Sapphire Preferred also grants cardholders $10 in monthly GoPuff credit through December 31, 2023.

The Chase points that you earn with this card can be redeemed for cash back, used to pay for travel through Chase Travel℠ (with a 25% bonus worth up to $750) or transferred to 14 airline and hotel partners like United, Southwest and Hyatt.

The value of the Alliant Cashback Visa® Signature Credit Card is easy to recognize and anyone who likes earning cash-back rewards would be hard-pressed to find a more rewarding cash-back card for everyday purchases .

• 2.5% cash back on your first $10,000 of qualifying eligible purchases
• 1.5% cash back for purchases over $10,000

As a Visa Signature card , this card offers purchase security, travel accident insurance, rental car collision coverage, extended warranty protection and identity theft protection .

Capital One Savor Cash Rewards Credit Card*

The Capital One Savor Cash Rewards Credit Card* is a top choice for earning cash back on dining, entertainment and streaming purchases.

• 8% back on Capital One Entertainment purchases
• 4% back on dining, entertainment, and on eligible streaming services
• 3% back at grocery stores
• 1% back on all other purchases
• 10% back on Uber and Uber Eats purchases through Nov. 14, 2024

Earn a $300 cash bonus after spending $3,000 on purchases within the first three months from account opening.

In addition to having no foreign transaction fees, the Capital One Savor Cash Rewards Credit Card* offers extended warranty coverage and travel accident insurance . Cardholders have access to exclusive events and experiences through Capital One Entertainment and Capital One Dining.

You can also save on food delivery and rideshares with a monthly Uber One membership fee credit through Nov. 14, 2024. The subscription normally costs $9.99 per month and provides benefits like a $0 delivery fee on eligible Uber Eats orders, 10% off eligible Uber Eats orders and 5% off Uber rides.

If you want a premium credit card that's packed with travel benefits, the Chase Sapphire Reserve® fits the bill. Its travel insurance perks can add peace of mind to any adventure and the card's airport lounge access allows you to relax in style while you're jet-setting across the globe.

• 10X total points on hotels and car rentals purchased through Chase Travel℠*
• 10X points on Lyft purchases through March 2025
• 5X total points on flights purchased through Chase Travel℠*
• 3X points on other travel*
• 3X points on dining
• 1X points on all other purchases

*After the first $300 is spent on travel purchases annually

Chase Sapphire Reserve card members get up to $300 in annual travel credits, which covers more than half of the card's annual fee. And its other benefits can add up to even more value, including an up to $100 Global Entry, TSA PreCheck or NEXUS fee credit (every four years) and two years of complimentary Lift Pink membership (worth $199 a year) when you sign up by Dec. 31, 2024.

When traveling, cardholders have access to the new Sapphire Lounges and can enroll to receive a complimentary Priority Pass airport lounge membership. Further, cardholders can benefit from top-tier purchase and travel coverages , including purchase protection, extended warranty protection, return protection, primary rental car collision coverage, trip delay protection, trip interruption/cancellation insurance, baggage delay protection, travel accident insurance, emergency medical and dental insurance and more.

Chase has also partnered with a number of companies to provide even more value to cardholders. Sapphire Reserve card members can receive 12 months of Instacart+ membership and up to $15 in statement credit for Instacart purchases each month. In addition, you can also take advantage of statement credit for other delivery services. Cardholders are eligible for up to $10 back each month for Go Puff purchases and up to $5 in monthly credit with DoorDash . And you can activate a complimentary DashPass membership (minimum of one year free) through Dec. 31, 2024.

The Capital One Venture X Rewards Credit Card is a premium credit card that earns rewards you can use for just about any travel expense. Plus, it has a straightforward points-earning structure so you'll be able to maximize your returns with minimal effort.

• 10X miles per dollar on hotel and rental cars booked through  Capital One Travel
• 5X miles per dollar on flights booked through Capital One Travel
• 2X miles per dollar on all other eligible purchases

Earn 75,000 bonus miles after spending $4,000 on purchases within three months from account opening.

$395 (see rates and fees )

Every year, Capital One Venture X cardholders get up to $300 back on bookings made through Capital One Travel and a 10,000-mile anniversary bonus (worth $100 in travel). There are also benefits to make your visit to the airport a bit less stressful, such as a credit to cover Global Entry or TSA PreCheck® membership.

You can also access a range of elite-like benefits at select hotels when you book through Capital One's Premier Collection . Benefits include a $100 experience credit, daily breakfast for two people, free Wi-Fi, early check-in/late check-out (when available) and upgrades (when available). There's also the Lifestyle Collection , which offers special perks at a broader range of hotels.

When you pay for your rental car with your Venture X card , you'll receive rental car collision coverage. And cardholders qualify for ***Hertz Presidents Circle status, which comes with benefits such as complimentary upgrades.

***Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at upgraded status level through December 31, 2024. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.

Discover it® Miles is a no-frills no annual fee card with no foreign transaction fees that earns miles that can be redeemed for cash back.

• 1.5X miles per dollar on every purchase

Discover will match the miles you earn during the first year with no minimum spending requirement or limits on how much you can earn through the match.

The Discover it® Miles has an introductory 0% APR offer for 15 months on purchases and balance transfers , then a 17.24% to 28.24% variable APR (3% intro balance transfer fee, 5% balance transfer fee on future transfers, see terms ). This can be useful if you need extra time to pay off your trip abroad.

The Ink Business Preferred® Credit Card is a top pick for small business owners due to its useful benefits, valuable rewards for business purchases and generous welcome bonus.

• 5X points per dollar on Lyft purchases through March 2025
• 3X points per dollar on the first $150,000 spent in combined purchases in select categories each account anniversary year (travel; shipping purchases; internet, cable and phone services; and advertising purchases with social media sites and search engines)
• 1X point per dollar spent on all other purchases

Earn 100,000 bonus points after spending $8,000 on purchases in the first three months from account opening.

Ink Business Preferred cardholders can add employee cards for free and also take advantage of various travel and purchase protections, including:

• Purchase protection
• Extended warranty protection
• Cell phone protection
• Primary rental car collision coverage
• Trip delay protection
• Trip interruption/cancellation
• Baggage delay insurance
• Lost luggage coverage
• Travel accident insurance

Points can be redeemed toward travel through the  Chase travel portal  at a rate of 1.25 cents per point, which is a 25% increase in value compared to using the points for cash back. Points can also be transferred to numerous hotel and airline partners, unlocking all sorts of redemption possibilities.

Which banks do not charge foreign transaction fees?

The fees a bank charges vary depending on what card you have. So regardless of what card issuer you're applying for a credit card with, it's important to review the fees that are assessed to that specific card, including possible foreign transaction fees. Discover is one of the few issuers that doesn't charge foreign transaction fees on any of its credit cards.

How do I get foreign transaction fees waived?

If you are charged a foreign transaction fee, you could call your card issuer and ask for a fee waiver. However, you might have limited success with this strategy, it's better to review your card's fees beforehand and to use a card that doesn't charge foreign transaction fees whenever possible.

Does Amex charge foreign transaction fees?

Some American Express cards have foreign transaction fees, but many do not. There are no foreign transaction fees with cards like The Platinum Card® from American Express (see rates and fees ), the American Express® Green Card (see rates and fees ) and the American Express® Gold Card (see rates and fees ).

Does Chase charge foreign transaction fees?

Whether there is a foreign transaction fee varies depending on which Chase card you have. For example, the best Chase travel credit cards, like the Chase Sapphire Preferred Credit Card and the Chase Sapphire Reserve card , have no foreign transaction fees, while many of the no annual fee Chase cards do charge foreign transaction fees.

Bottom line

When you're traveling out of the country it's important to use a credit card that doesn't charge foreign transaction fees, which are typically 3% or more. The good news is, there is no shortage of travel credit cards without this fee. So you'll be able to earn valuable cash back or travel rewards while using a no-foreign-transaction-fee credit card abroad.

Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox.  Sign up here .

Why trust CNBC Select?

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every travel credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit cards. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See  our methodology  for more information on how we choose the best credit cards .

Our methodology

To determine which cards will put the most money back in your pocket, CNBC Select evaluated the most popular rewards credit cards with no foreign transaction fees offered by major banks, financial companies and credit unions that allow anyone to join. We compared each card on a range of features, including travel rewards (points and miles), annual fee, welcome bonus, introductory and standard APR, one-time perks, annual perks, redemption rates, as well as factors such as required credit and customer reviews when available.

Catch up on CNBC Select's in-depth coverage of credit cards , banking and money . And follow us on TikTok , Facebook , Instagram and Twitter to stay up to date.

* Information for this card not reviewed by or provided by Capital One

**For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

For rates and fees of the Discover it® Miles, click here .

For rates and fees of the American Express® Gold Card, click  here .

For rates and fees of The Platinum Card® from American Express, click  here .

For rates and fees of the American Express® Green Card, click  here .

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The 11 Best No Foreign Transaction Fee Credit Cards for Travelers [2024]

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What Is a Foreign Transaction Fee?

How to find out if a credit card charges a foreign transaction fee, 1. the platinum card ® from american express, 2. american express ® gold card, 3. chase sapphire reserve ®, 4. chase sapphire preferred ® card, 5. citi premier ® card, 6. capital one venture rewards credit card, 1. hilton honors american express card, 2. capital one ventureone rewards credit card, 3. bank of america ® travel rewards credit card, 1. ink business preferred ® credit card, 2. the business platinum card ® from american express, cash advances abroad, currency conversion fees, dynamic currency conversion, foreign atm fees, final thoughts.

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If you’re a frequent international traveler, you’re probably familiar with foreign transaction fees, those pesky extra fees charged by your credit card company on every purchase you make outside of the U.S.

The fees can also be charged on transactions made with foreign banks, even if you’re making the purchase from the U.S. For example, if you purchase an airline ticket from a foreign company, you may be charged a foreign transaction fee.

Foreign transaction fees are widely unpopular, especially with travelers frequently paying their foreign expenses with credit cards. As a result, the list of credit cards that don’t charge these fees is growing as issuers introduce new card products without foreign transaction fees and remove them from some existing cards.

Let’s take a look at these fees and some of the best cards you can use to avoid them.

What You Should Know About Foreign Transaction Fees

Foreign transaction fees are assessed by your credit card issuer on any transaction processed by a foreign bank. The common rate is around 3% of the total foreign purchase amount , and there is no limit as to how much can be charged.

These fees are perfectly legal, but more and more credit card companies are eliminating them since informed travelers choose credit cards that don’t charge foreign transaction fees.

In some cases, the promotional summary for a credit card doesn’t disclose whether there is a foreign transaction fee charged on the card. You may need to dig deeper to find out for certain.

Fortunately, all of the financial information you’ll need can be found in what’s known as a Schumer Box. It’s named after Charles (Chuck) Schumer, the congressman responsible for the legislation that requires credit card companies to clearly disclose costs and terms associated with each card.

All credit card companies must use a standard format for the Schumer Box, so comparing cards became much easier after this legislation was passed in 1988.

For a credit card you’re considering, you can review the Schumer Box online for that specific card by clicking on a link titled:

• Rates & Fees
• Terms & Conditions
• Pricing & Rates
• Interest Rates & Fee Summary
• … or a link with a similar name

Here’s what you’ll see in the Schumer Box if the credit card you’re researching does not charge a foreign transaction fee:

Here’s an example of a section of the Schumer Box for a credit card that does charge a foreign transaction fee:

Determining if your existing credit card charges a foreign transaction fee:

• Call Your Credit Card Company — Contact your credit card company and ask whether your card charges a foreign transaction fee by calling the phone number printed on the back of your card.
• Review Your Paper Cardholder Agreement — When you received your new credit card in the mail, a cardholder agreement was included. In the agreement, there’s a chart similar to the ones illustrated above that lists all the fees assessed on your card.
• Access Your Account Online — Sign in to your online credit card account to access your cardholder agreement, which will include a breakdown of all fees and charges.

Bottom Line:  While a 3% foreign transaction fee might not seem like much, it can add up quickly, whether you’re a frequent traveler or just take 1 big trip a year. In any case, by selecting a credit card without the fees, you won’t come home to a billing statement full of additional foreign transaction charges on your purchases!

The 6 Best Personal Travel Rewards Cards With No Foreign Transaction Fees

Selecting a credit card that doesn’t charge foreign transaction fees is a real benefit for the traveler. But, there are so many credit cards in the marketplace without these fees that savvy travelers will want to choose a card that delivers even more benefits.

Let’s look at our picks for some of the top cards for international travel that have no foreign transaction fees.

The Platinum Card ® from American Express

The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

When it comes to cards that offer top-notch benefits, you’d be hard-pressed to find a better card out there than The Platinum Card ® from American Express.

Make no mistake — the Amex Platinum card  is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access , hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.

• The best airport lounge access out of any card (by far) — enjoy access to over 1,400 worldwide lounges, including the luxurious Amex Centurion Lounges, Priority Pass lounges, Plaza Premium Lounges, and many more!
• 5x points per dollar spent on flights purchased directly with the airline or with AmexTravel.com (up to $500,000 per year)
• 5x points per dollar spent on prepaid hotels booked with AmexTravel.com
• Annual and monthly statement credits upon enrollment ( airline credit, Uber Cash credit, Saks Fifth Avenue credit, streaming credit, prepaid hotel credit on eligible stays, Walmart+ credit, CLEAR credit, and Equinox credit )
• TSA PreCheck or Global Entry credit
• Access to American Express Fine Hotels and Resorts
• Access to Amex International Airline Program
• No foreign transaction fees ( rates and fees )
• $695 annual fee ( rates and fees )
• Airline credit does not cover airfare (only incidentals like checked bags)
• Earn 80,000 Membership Rewards ® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card ® , Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
• Earn 5X Membership Rewards ® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards ® Points on prepaid hotels booked with American Express Travel.
• $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts ® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card ® . The Hotel Collection requires a minimum two-night stay.
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card ® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
• $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership (subject to auto-renewal) with a statement credit after you pay for Walmart+ each month with your Platinum Card ® . Cost includes $12.95 plus applicable local sales tax. Plus Up Benefits are excluded.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card ® .
• $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only. Terms Apply.
• $300 Equinox Credit: Get up to $300 back in statement credits per calendar year on an Equinox membership, or an Equinox club membership (subject to auto-renewal) when you pay with your Platinum Card ® . Enrollment required. Visit https://platinum.equinox.com/ to enroll.
• $189 CLEAR ® Plus Credit: Breeze through security with CLEAR Plus at 100+ airports, stadiums, and entertainment venues nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Platinum Card ® . Learn more.
• $100 Global Entry Credit: Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck ® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card ® . Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card ® . That's up to $50 in statement credits semi-annually. Enrollment required.
• $300 SoulCycle At-Home Bike Credit: Get a $300 statement credit for the purchase of a SoulCycle at-home bike with your Platinum Card ® . An Equinox+ subscription is required to purchase a SoulCycle at-home bike and access SoulCycle content. Must charge full price of bike in one transaction. Shipping available in the contiguous U.S. only. Enrollment Required.
• Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card ® to your Resy profile.
• $695 annual fee.
• Terms Apply.

Financial Snapshot

• APR: See Pay Over Time APR
• Foreign Transaction Fees: None

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American Express Membership Rewards

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• Amex Platinum vs Delta Platinum
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• Capital One Venture X vs Amex Platinum
• Amex Platinum vs Delta Reserve

Hot Tip:  Check to see if you’re eligible for a welcome bonus offer of up to 125k (or 150k) points with the Amex Platinum. The current public offer is 80,000 points. (This targeted offer was independently researched and may not be available to all applicants.)

The Amex Platinum card is the go-to card for luxury travel benefits . With premier access to airport lounges worldwide , complimentary hotel elite status, car rental program benefits , and a long list of travel insurance benefits , it’s expected that this premium travel rewards card wouldn’t charge fees on foreign transactions (see rates & fees ).

Add in the hundreds of dollars of savings in the form of statement credits for specific purchases and the card easily earns a place in any frequent traveler’s wallet.

Read our review to find details on the Amex Platinum card foreign transaction fees.

American Express ® Gold Card

This is the best card for food lovers who dine out at restaurants (worldwide), order take-out and want big rewards at U.S. supermarkets!

The American Express ® Gold Card  is a game-changer.

With this card, you can earn 4x Membership Rewards points at restaurants and you’ll also earn 4x Membership Rewards points at U.S. supermarkets on up to $25,000 per calendar year in purchases, then 1x.

There isn’t another card on the market that offers a 1-2 punch like this. Of course, there are several other benefits of the Gold Card as well, including extra monthly dining rewards and more.

• 4x points per dollar at restaurants, plus takeout and delivery in the U.S.
• 4x points per dollar at U.S. supermarkets, up to $25,000 per calendar year in purchases; and 1x thereafter
• 3x points per dollar on flights purchased directly from airlines or at Amex Travel
• Up to $120 annual dining credit: up to $10 monthly statement credit when you pay with the Amex Gold card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com , Milk Bar and select Shake Shack locations
• Up to $120 in annual Uber Cash : get $10 monthly in Uber Cash for Uber Eats orders or Uber rides in the U.S. when you add your Gold Card to your Uber account
• No foreign transaction fees (see rates and fees )
• Access to Amex’s The Hotel Collection
• Access to American Express transfer partners
• $250 annual fee (see rates and fees )
• No lounge access
• Earn 60,000 Membership Rewards ® points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
• Earn 4X Membership Rewards ® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards ® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
• Earn 3X Membership Rewards ® points on flights booked directly with airlines or on amextravel.com.
• $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year.
• $120 Dining Credit: Satisfy your cravings and earn up to $10 in statement credits monthly when you pay with the American Express ® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations. Enrollment required.
• Get a $100 experience credit with a minimum two-night stay when you book The Hotel Collection through American Express Travel. Experience credit varies by property.
• Choose the color that suits your style. Gold or Rose Gold.
• No Foreign Transaction Fees.
• Annual Fee is $250.
• Find the Amex Gold 75k or 90k Welcome Bonus Offer
• Benefits of the Amex Gold
• Upgrade Amex Gold to Amex Platinum
• Amex Gold Benefits for Military
• Amex Gold vs Blue Cash Preferred
• Amex Platinum vs Amex Gold
• Amex Gold vs Delta Gold

Hot Tip:  Check to see if you’re eligible for a welcome bonus offer of up to 90,000 points with the Amex Gold card. The current public offer is 60,000 points. (This targeted offer was independently researched and may not be available to all applicants.)

The Amex Gold card has an identity problem. On one hand, it shines as an everyday rewards-earning card for spending at restaurants and at U.S. supermarkets, yet it also rewards specific travel purchases. And, at redemption time, Membership Rewards points earned on the card are there for good-value travel redemptions whether via AmexTravel.com or transferring points to the Amex transfer partners .

We like that the card is so diverse and also that it also offers a generous upfront welcome bonus.

Bottom Line:  The American Express collection of no foreign transaction fee credit cards offers strong benefits for the frequent traveler and options equally suited to those with loyalty to a specific brand. A combination of cards could offer the perfect umbrella of benefits for the frequent traveler. See our full list of Amex credit cards if you’re looking for even more choices from American Express.

Chase Sapphire Reserve ®

A top player in the high-end premium travel credit card space that earns 3x points on travel and dining while offering top luxury perks.

If you’re looking for an all-around excellent travel rewards card, the Chase Sapphire Reserve ®  is one of the best options out there.

The card combines elite travel benefits and perks like airport lounge access , with excellent point earning and redemption options.  Plus it offers top-notch travel insurance protections to keep you covered whether you’re at home or on the road.

Don’t forget the $300 annual travel credit which really helps to reduce the annual fee!

• 10x total points on hotels and car rentals when you purchase travel through Chase TravelSM immediately after the first $300 is spent on travel purchases annually
• 10x points on Lyft purchases March 31, 2025
• 10x points on Peloton equipment and accessory purchases over $250 through March 31, 2025
• 5x points on airfare booked through Chase Travel SM
• 3x points on all other travel and dining purchases; 1x point on all other purchases
• $300 annual travel credit
• Priority Pass airport lounge access
• TSA PreCheck, Global Entry, or NEXUS credit
• Access to Chase Luxury Hotel and Resort Collection
• Rental car elite status with National and Avis
• $550 annual fee
• Does not offer any sort of hotel elite status
• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.
• $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
• Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 60,000 points are worth $900 toward travel.
• 1:1 point transfer to leading airline and hotel loyalty programs
• Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck ®
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
• Member FDIC
• APR: 22.49%-29.49% Variable

Chase Ultimate Rewards

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It’s difficult to compete with the Amex Platinum card when it comes to premium travel rewards cards, but the Chase Sapphire Reserve card also earns a successful nod as one of the best travel rewards cards.

We like that cardholders receive a $300 statement credit for travel purchases each year and that the card comes with complimentary Priority Pass Select membership that will give you access to over 1,400 airport lounges worldwide.

It’s not difficult to realize significant value with the card if you’re a frequent traveler, especially when earning and redeeming valuable Ultimate Rewards points for great value.

Chase Sapphire Preferred ® Card

A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.

The Chase Sapphire Preferred ® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance . With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

• 5x points on all travel booked via the Chase Travel portal
• 5x points on select Peloton purchases over $150 (through March 31, 2025)
• 5x points on Lyft purchases (through March 31, 2025)
• 3x points on dining purchases, online grocery purchases, and select streaming services
• 2x points on all other travel worldwide
• $50 annual credit on hotel stays booked through the Chase Travel portal
• 6 months of complimentary Instacart+ (activate by July 31, 2024), plus up to $15 in statement credits each quarter through July 2024
• Excellent travel and car rental insurance
• 10% annual bonus points
• No foreign transaction fees
• 1:1 point transfer to leading airline and hotel loyalty programs like United MileagePlus and World of Hyatt
• $95 annual fee
• No elite benefits like airport lounge access or hotel elite status
• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
• APR: 21.49%-28.49% Variable
• The Chase Sapphire Preferred 80k or 100k Bonus Offer
• Benefits of the Chase Sapphire Preferred
• Chase Sapphire Preferred Credit Score Requirements
• Military Benefits of the Chase Sapphire Preferred
• Chase Freedom Unlimited vs Sapphire Preferred
• Amex Gold vs Chase Sapphire Preferred

As one of our favorite travel rewards cards, the Chase Sapphire Preferred card is a perfect choice for your first travel rewards-earning card. Not only will you receive elevated earnings on dining and travel, but at redemption time you’ll receive 25% more in value for your points via the Chase travel portal .

If your travel goals include enjoying a business or first class flight across the ocean, you’ll be pleased with your options when transferring points to the Chase airline and hotel partners .

Plus, the card offers a grand collection of travel protections and benefits .

Bottom Line:  The Chase Sapphire Preferred card and the Chase Sapphire Reserve card earn valuable Chase Ultimate Rewards points that can be redeemed for travel for up to 50% more in value through the Chase Travel portal or transferred to hotel and airline partners for even greater potential value.

Citi Premier ® Card

Frequent flyers will enjoy 3x ThankYou Points at restaurants, gas stations, supermarkets, air travel, and hotels.

The Citi Premier ® Card is an excellent option for anyone looking for an all-around travel rewards credit card. The card helps you earn points fast with great 3x bonus categories such as restaurants, supermarkets, gas stations, airfare, and hotels. Plus, it offers access to airline and hotel transfer partners, doesn’t charge foreign transaction fees, and has a reasonable annual fee!

• 3x points at restaurants, supermarkets, gas stations, airfare, and hotel purchases
• Access to Citi transfer partners
• Annual hotel credit
• No foreign transaction fees
• $95 annual fee
• Earn 60,000 bonus ThankYou ® Points after you spend $4,000 in purchases within the first 3 months of account opening. Plus, for a limited time, earn a total of 10 ThankYou ® Points per $1 spent on hotel, car rentals, and attractions (excluding air travel) booked on the Citi Travel℠ portal through June 30, 2024.
• Earn 3 Points per $1 spent at Gas Stations, Air Travel and Other Hotels
• Earn 3 Points per $1 spent at Restaurants and Supermarkets
• Earn 1 Point per $1 spent on all other purchases
• Annual Hotel Savings Benefit
• 60,000 ThankYou ® Points are redeemable for $600 in gift cards redeemable for $600 in gift cards or travel rewards at thankyou.com
• No expiration and no limit to the amount of points you can earn with this card
• No Foreign Transaction Fees on purchases
• APR: 21.24% - 29.24% Variable

Citi ThankYou Rewards

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You’ll have lots of earning power with 3x points at restaurants, gas stations, supermarkets, hotels, and air travel.

You’ll have choices at redemption time, too, when your ThankYou Points can be redeemed for travel, merchandise, and gift cards or transferred to travel partners .

Capital One Venture Rewards Credit Card

Get 2x miles plus some of the most flexible redemptions offered by a travel credit card!

The Capital One Venture Rewards Credit Card   is one of the most popular rewards cards on the market. It’s perfect for anyone in search of a great welcome offer, high rewards rates, and flexible redemption options.

Frequent travelers with excellent credit may benefit from this credit card that offers a lot of bells and whistles. And it offers easy-to-understand rewards earning and redemption.

• 5x miles per $1 on hotels and rental cars booked through Capital One Travel
• 2x miles per $1 on all other purchases
• Global Entry or TSA PreCheck application fee credit
• No foreign transaction fees ( rates & fees )
• Access to Capital One transfer partners
• $95 annual fee ( rates & fees )
• Limited elite benefits
• Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
• 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
• Miles won't expire for the life of the account and there's no limit to how many you can earn
• Receive up to a $100 credit for Global Entry or TSA PreCheck ®
• Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
• Enrich every hotel stay from the Lifestyle Collection with a suite of cardholder benefits, like a $50 experience credit, room upgrades, and more
• Transfer your miles to your choice of 15+ travel loyalty programs
• APR: 19.99% - 29.99% (Variable)

Capital One Miles

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The Capital One Venture card earns 2x miles per dollar spent on every purchase you make.

At redemption time, you have the option to purchase travel via Capital One Travel , or transfer miles to airline partners .

The 3 Best No-Annual-Fee Travel Rewards Cards With No Foreign Transaction Fees

No foreign transaction fee credit cards that offer the highest levels of rewards and benefits typically charge an annual fee. However, there are plenty of no foreign transaction fee cards that do not charge an annual fee; here’s a sampling of those cards:

Hilton Honors American Express Card

Complimentary Hilton Honors Silver status, plus great earnings at Hilton, U.S. gas stations, U.S. supermarkets, and U.S. restaurants!

You can’t beat a comfy king-sized bed and room service. For many travelers, it’s the hotel that really makes or breaks an experience. If you’re one of those people, you’ve probably stayed at a Hilton hotel.

Whether your visits are for work or pleasure, the Hilton brand has you covered with more than 6,200 locations in 100 counties and territories.

To enjoy a host of great benefits, you may want to apply for the Hilton Honors American Express Card .

• 7x points per $1 on Hilton stays
• 5x points per $1 at U.S. restaurants, at U.S. supermarkets, and at U.S. gas stations
• 3x points per $1 on all other purchases
• Complimentary Hilton Honors Silver status
• No annual fee ( rates & fees )
• No foreign transaction fees ( rates & fees )
• Not great for those who want multiple redemption options
• Offers the least benefits of all Hilton cards
• Earn 100,000 Hilton Honors Bonus Points after you spend $2,000 in purchases on the Card in the first 6 months of Card Membership. Offer ends 4/17/24.
• Earn 7X Hilton Honors Bonus Points for each dollar of eligible purchases charged on your Card directly with hotels and resorts within the Hilton portfolio.
• Earn 5X Points per dollar on purchases at U.S. restaurants, at U.S. supermarkets, and at U.S. gas stations.
• Earn 3X Points for all other eligible purchases on your Card.
• Enjoy complimentary Hilton Honors™ Silver status with your Card. Plus, spend $20,000 on eligible purchases on your Card in a calendar year and you can earn an upgrade to Hilton Honors™ Gold status through the end of the next calendar year.
• No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
• No Annual Fee.
• APR: 20.99%-29.99% Variable
• Hotel Credit Cards
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Hilton Honors Loyalty Program

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The Hilton Honors card works best for earning lots of Hilton Honors points to redeem for free hotel nights and securing entry-level Hilton Honors elite status.

Capital One VentureOne Rewards Credit Card

The card offers unlimited miles at 1.25x per $1 and no annual fee. When you consider the flexible rewards, frequent travelers come out on top.

Interested in a travel rewards credit card without one of those pesky annual fees? Then say hello to the Capital One VentureOne Rewards Credit Card.

In addition to no annual fee, the Capital One VentureOne card offers no foreign transaction fees.

But is this card worth its salt, or is it merely a shell of the more popular Capital One Venture card?

• Ability to use transfer partners
• Fraud coverage
• Weak earn rate at 1.25x miles per $1 spent on all purchases
• No luxury travel or elite benefits
• $0 annual fee and no foreign transaction fees
• Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
• Earn unlimited 1.25X miles on every purchase, every day
• Enjoy 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies
• APR: 19.99% - 29.99% (Variable),0% intro on purchases for 15 months
• Benefits of the Capital One VentureOne Card
• Capital One Venture X Card vs. Capital One VentureOne Card [Detailed Comparison]
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The Capital One VentureOne card keeps it simple when it comes to earning rewards with 1.25 miles earned per dollar spent on every purchase you make.

You’ll then have several options at redemption time including purchase merchandise, or gift cards. For the potential of greater value, you can also transfer miles to travel partners.

We like that the Bank of America Travel Rewards card offers unlimited 1.5x points for every dollar spent , has no annual fee, and has no foreign transaction fees.

Bank of America ® Travel Rewards Credit Card

The Bank of America Travel Rewards card is a great option for those who want an easy way to earn travel rewards without paying an annual fee.

The Bank of America ® Travel Rewards credit card  is a great option for those looking to dip their toe into the world of travel rewards cards, without paying an annual fee.

The card makes earning points and redeeming them for travel super easy for cardholders.

• 1.5x points per $1 you spend on all purchases
• No annual fee
• Boost your rewards rate with the Bank of America Preferred Rewards program
• Points are worth a fixed 1 cent per point, so it isn’t possible to get outsized redemptions
• 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.
• 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening –  that can be a $250 statement credit toward travel purchases.
• Use your card to book your trip how and where you want – you’re not limited to specific websites with blackout dates or restrictions.
• Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
• New longer intro period! 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% – 26.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
• If you’re a Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
• Contactless Cards – The security of a chip card, with the convenience of a tap.
• 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.
• APR: 0% Introductory APR for 18 billing cycles for purchases. After the intro APR offer ends, 16.24% - 26.24% variable will apply.
• Guide to Bank of America Preferred Rewards
• Best Bank of America Credit Cards for Cash-back and Rewards

One big reason we like this card is that if you’re a Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.

Bottom Line: You don’t have to pay an annual fee to secure a credit card that doesn’t charge foreign transaction fees!

The 2 Best Business Travel Rewards Cards With No Foreign Transaction Fees

If you own a business, even a small business, that involves travel, you’ll certainly want to have a travel rewards card that doesn’t charge foreign transaction fees.

Here are 2 of the best business travel rewards cards available.

Ink Business Preferred ® Credit Card

The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.

The Ink Business Preferred ® Credit Card is a powerhouse for earning lots of points from your business purchases , especially for business owners that spend regularly on ads.

Plus the card offers flexible redemption options, including access to Chase airline and hotel transfer partners where you can achieve outsized value.

Business owners will also love the protections the card provides like excellent cell phone insurance , rental car insurance, purchase protection, and more.

• 3x Ultimate Rewards points per $1 on up to $150,000 in combined purchases on internet, cable and phone services, shipping expenses, travel, and ads purchased with search engines or social media sites
• Cell phone protection
• Purchase protection
• Trip cancellation and interruption insurance
• Rental car insurance
• Extended warranty coverage
• No elite travel benefits like airport lounge access
• Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Travel℠
• Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
• Round-the-clock monitoring for unusual credit card purchases
• With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
• Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
• Points are worth 25% more when you redeem for travel through Chase Travel℠
• Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
• APR: 21.24%-26.24% Variable
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You’ll want your highest business expenses to earn rewards and the Ink Business Preferred card delivers. You’ll also find a nice collection of travel benefits and plenty of flexible options at redemption time to ensure you receive top value for Ultimate Rewards points earned on the card.

We like the card for its stellar level of benefits, including cell phone protection , compared to its lower annual fee.

The Business Platinum Card ® from American Express

This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!

The Business Platinum Card ® from American Express is a premium travel rewards card tailored toward business owners who are frequent travelers with a high number of annual expenses.

When you factor in the large number of perks that the card offers like the best airport lounge access at over 1,400 lounges , along with tons of annual credits, it’s easy to see why this card can is a top option for frequent traveling business owners.

Hot Tip:  Check to see if you’re eligible for a huge welcome bonus offer of up to 170,000 points with the Amex Business Platinum. The current public offer is 120,000 points. (This targeted offer was independently researched and may not be available to all applicants.)

• 5x Membership Rewards points per $1 on flights and prepaid hotels at Amex Travel
• Up to $200 annual airline fee credit on your selected qualifying airline
• Statement credits on select purchases with your card
• 35% airline bonus when using Pay With Points (up to 1,000,000 bonus points per calendar year)
• Access to over 1,400 worldwide airport lounges as part of the American Express Global Lounge Collection
• Get 50% more Membership Rewards points (1.5 points per $1) on eligible purchases in key business categories, as well as on purchases of $5,000 or more (cap applies)
• Access to Amex’s Fine Hotels & Resorts program
• High annual fee of $695 ( rates and fees )
• Airline fee credit does not cover airfare, only incidentals like checked bags
• Welcome Offer: Earn 120,000 Membership Rewards ® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
• 5X Membership Rewards ® points on flights and prepaid hotels on AmexTravel.com, and 1X points for each dollar you spend on eligible purchases.
• Earn 1.5X points (that’s an extra half point per dollar) on each eligible purchase at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
• Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
• $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for incidental fees charged by your one selected, qualifying airline to your Card.
• $189 CLEAR ® Plus Credit: Use your card and get up to $189 in statement credits per calendar year on your CLEAR ® Plus Membership (subject to auto-renewal) when you use your Business Platinum Card ® .
• The American Express Global Lounge Collection ® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market as of 03/2023.
• $695 Annual Fee.
• APR: 19.49% - 27.49% Variable
• Find The Amex Business Platinum 150k Welcome Bonus Offer
• Find The Amex Business Platinum 170k Welcome Bonus Offer
• Benefits of the Amex Business Platinum
• Authorized Users Benefits of the Amex Business Platinum
• 35% Points Rebate with the Amex Business Platinum
• Amex Business Platinum vs Amex Platinum

Hot Tip:  Check to see if you’re eligible for a huge welcome bonus offer of up to 170,000 points with the Amex Business Platinum. The current public offer is 120,000 points. (This targeted offer was independently researched and may not be available to all applicants.)

With international airport lounge access and a 35% rebate when using Membership Rewards points for flights, the frequent business traveler could find tremendous value with the Amex Business Platinum card.

You’ll also find hundreds of dollars in statement credits for specific purchases and earnings of 1.5x points on eligible purchases in key business categories, as well as on purchases of $5,000 or more everywhere else  (up to $2 million in purchases per calendar year).

If you’d like to learn more about these 2 popular business travel rewards cards, check out our in-depth comparison of earnings, redemption options, benefits, and more.

Bottom Line:  Select a no foreign transaction fee business credit card based on the spending profile of your business to maximize earning rewards. You’ll also want to make sure the spending levels of your business offset any annual fees, and that your travel is frequent enough to maximize the travel benefits offered with each specific card. 

Please note that any additional benefit information we’ve provided is abbreviated and for general comparison purposes only.

All of the cards reviewed earn at least 1 point or mile per dollar spent on every purchase, so we’ve only included earnings in the additional benefits section that exceed this level.

A complete list of benefits and current card offers is provided when accessing each credit card summary page individually. Additional terms and conditions apply.

Hot Tip:  With so many different issuers providing cards without foreign transaction fees, it’s not a bad idea to quickly familiarize yourself with each bank’s specific rules prior to applying. 

Everything Else You Need To Know

Once you’ve selected a credit card that charges no foreign transaction fees, you’ll want to make sure you minimize the plethora of other fees you might incur when securing foreign currency abroad (or simply paying for your foreign purchase with a credit card).

You may be surprised to learn that you can be hit with several fees as a result of 1 simple foreign transaction!

While using your no foreign transaction fee credit card for purchases when traveling is a smart move, using that same credit card to secure a cash advance when you’re traveling can trigger additional fees and interest charges .

In an emergency, it’s good to know that a cash advance is an option… but it’s also important to understand the potential cost of doing so, even on a card that doesn’t charge a foreign transaction fee.

The term “currency conversion fees” is frequently used interchangeably with “foreign transaction fees,” but there is a difference.

Converting foreign currency costs money. When your bank is charged by the processing network (such as Visa or Mastercard) for converting your purchase made in foreign currency to U.S. dollars, it passes the expense on to you.

In some cases, the foreign transaction fee your bank charges you will include the currency conversion fee they have been charged (usually around 1%). The bank can also tack on additional fees, bringing the total to around 3%.

Bottom Line:  Foreign transaction fees are just one of the charges you need to be aware of when paying for foreign purchases with your credit card and securing foreign currency while traveling. Referencing your credit card’s Schumer Box before traveling can help you avoid some of these fees. 

When you check out of your hotel or are presented with your dining bill in a foreign country, it might seem convenient that the total amount is already converted from the foreign currency to U.S. dollars. There’s no need to do any calculations to determine how much you’ll be paying — it’s been done for you!

This practice of presenting the bill in your home credit card’s currency (in this case U.S. dollars) is known as “ dynamic currency conversion .” While it might seem convenient and harmless, the end results are not in your favor .

For example, let’s say you receive your foreign restaurant tab and there are 2 options for paying: you can select $106 or €86. You might do a quick calculation, think the totals make sense from a conversion perspective, and just pay the bill in U.S. dollars. Unfortunately, if you had paid €86, your U.S. bank would process the currency exchange based on the current rate — which in this case is closer to $96 (versus the higher $106 option on your bill).

Paying in U.S. dollars abroad adds a layer of cost to the transaction: U.S. dollars have to be converted to the local currency to pay the merchant, then back to U.S. dollars to bill you on your credit card.

When using a credit card, always pay your bill in the local currency of the country you’re in to ensure you get the best currency conversion rate.

Bottom Line:  Never pay in U.S. dollars when using your credit card in a foreign country! If your bill is presented in U.S. dollars, ask that it be voided and changed to reflect the amount in local currency. If both options are available on the receipt, be sure the U.S. dollars option isn’t already checked before you sign the receipt. 

You may think you could avoid foreign transaction fees by using your debit card to withdraw money from foreign ATMs when traveling abroad. This is a logical assumption, plus ATMs are usually conveniently located and facilitate an easy transaction. But foreign ATMs can charge exorbitant fees.

Even if the foreign ATM fee is reasonable, your bank may add on foreign transaction fees, currency conversion fees, an out-of-network ATM fee, or other transaction fees.

Some banks (such as Charles Schwab Bank and Capital One 360) reimburse these fees, and other banks allow a limited number of no additional fee transactions per statement period.

Bottom Line:  To minimize bank charges when abroad, review the fee disclosures associated with your debit card before you travel, and try to limit your withdrawals to 1 per trip. You can also open an account that reimburses ATM fees or allows a limited number of no additional fee withdrawals per month.

With the vast selection of credit cards that do not charge foreign transaction fees, it should be easy to find an appropriate card for your travel expenses that avoids these fees.

Remember to look at the Schumer Box for any credit card you’re considering, and learn about the fees charged on your current credit card before you travel.

With just a small amount of research, you can minimize the fees that make international travel more expensive and avoid returning home to a credit card statement full of unexpected charges.

For Capital One products listed on this page, some of the above benefits are provided by Visa ® or Mastercard ® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

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The information regarding the Bank of America ® Travel Rewards credit card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

For rates and fees of The Platinum Card ® from American Express, click here . For rates and fees of the American Express ® Gold Card, click  here . For rates and fees of the Hilton Honors American Express Card, click here . For rates and fees of The Business Platinum Card ® from American Express, click here .

Frequently Asked Questions

How do foreign transaction fees work.

A foreign transaction fee is a fee charged by your credit card issuer on every purchase you make that is processed through a foreign bank.

You can even be charged a foreign transaction fee if you’re in the U.S. and make a purchase with a foreign merchant in foreign currency. The fee is calculated as a percent of your total purchase, usually around 3%.

How can I avoid foreign transaction fees?

You can avoid foreign transaction fees by always using a card for your foreign purchases that does not charge them.

Which credit cards have no foreign transaction fees?

The majority of credit cards today don’t charge foreign transaction fees, and we’ve put together a collection of the best credit cards for frequent travelers in this post.

There are certain credit card issuers (such as Discover and Capital One) that do not charge a foreign transaction fee on any of their cards. For other cards, you’ll need to review the terms and conditions or rates/fee chart.

How can I find out if a credit card charges foreign transaction fees?

Credit card issuers are required to disclose any fees they charge on their credit cards. For an existing credit card, you can call the number printed on the back of your card, review the paper cardholder agreement that came with your card, or access your credit card account online.

For a credit card you are considering, a list of all of the fees/charges can be found in the Schumer box that can be accessed via a link on the summary or application page.

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About Christine Krzyszton

Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, detailed content for UP.

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Credit Cards

Best no foreign transaction fee credit cards of April 2024

Theresa Stevens

Robin Saks Frankel

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

Updated 4:53 a.m. UTC April 1, 2024

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Editor’s Note: This article contains updated information from a previously published story .

Planning a sojourn abroad usually requires thinking about transportation, hotels and what sights to see. However, one aspect travelers often overlook is managing foreign transaction fees. No foreign transaction fee credit cards allow you to pay with your card without the hassle of an additional surcharge when you’re spending internationally.

Generally, foreign transaction fees are 2% to 3% of each purchase you make at an international merchant. However, these fees are only one factor to consider when choosing a card. Since many travel credit cards charge an annual fee, it’s important to look at the full picture to determine if a card is worth it and if the rewards match your spending patterns.

We analyzed a broad swath of credit cards in this category from various issuers to curate a list of the very best.

Best no foreign transaction fee credit cards

• Chase Sapphire Reserve® : Best no foreign transaction fee card for booking travel through the issuer.
• Bilt World Elite Mastercard® : Best for no foreign currency conversion fee card for earning flexible rewards with no annual fee.
• Chase Sapphire Preferred® Card : Best no foreign transaction fee travel card with a low annual fee.
• Capital One Venture X Rewards Credit Card  *: Best no foreign transaction fee credit card.
• U.S. Bank Altitude® Reserve Visa Infinite® Card  *: Best no foreign transaction fee card for mobile wallet rewards.

Why trust our credit card experts

Our team of experts evaluates hundreds of credit cards and analyzes thousands of data points to help you find the best card for your situation. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.

• 345+ cards analyzed.
• 5+ data points analyzed.
• 5-step fact-checking process

our partner

Blueprint receives compensation from our partners for featured offers, which impacts how and where the placement is displayed.

Bank of America® Travel Rewards credit card

Welcome Bonus

• 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – that can be a $250 statement credit toward travel purchases.

Regular APR

Credit score.

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Editor’s Take

• 15 billing cycles of intro APR financing on both new purchases and on qualifying balance transfers.
• Earn an unlimited 1.5 points per $1 on purchases.
• No foreign transaction fees so it’s a good choice to use abroad.
• Points must be redeemed towards eligible travel and dining purchases for maximum redemption value.
• You can’t transfer rewards to airline or hotel partners.

Card Details

• 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 as long as your account remains open.
• Use your card to book your trip how and where you want – you’re not limited to specific websites with blackout dates or restrictions.
• Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
• 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.24% – 28.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
• If you’re a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
• Contactless Cards – The security of a chip card, with the convenience of a tap.
• 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.

Best no foreign transaction fee card for booking travel through the issuer

Chase sapphire reserve®.

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $900 toward travel when you redeem through Chase Travel℠.

• Up to $300 annual travel credit and Priority Pass Select lounge access.
• Redeem points for 50% more value to book travel through Chase Travel ℠ .
• Transfer points 1:1 to partners such as United Airlines and World of Hyatt.
• High annual fee.
• Not ideal if you aren’t interested in transferring points.
• May not qualify if you’ve applied for 5 or more credit cards in the last 24 months.
• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $900 toward travel when you redeem through Chase Travel℠.
• $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
• Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 60,000 points are worth $900 toward travel.
• 1:1 point transfer to leading airline and hotel loyalty programs
• Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
• Member FDIC

Best for no foreign currency conversion fee card for earning flexible rewards with no annual fee

Bilt world elite mastercard®.

• Earns rewards on rent payments.
• No transaction fee for paying rent by credit card.
• No annual fee or foreign currency conversion fee.
• You must make five transactions per billing period to earn rewards.
• No welcome bonus or intro APR period.
• Restrictive definition of what counts as a travel purchase.
• $0 annual fee
• Earn 3x points on dining, 2x points on travel (when booked directly with an airline, hotels, car rental agencies, and cruise lines), 1x points on rent payments without a transaction fee (on up to 100,000 points each calendar year) and 1x points on other purchases
• Earn double points on the first of the month (i.e. 6X points on dining, 4X on travel and 2X on other purchases; except rent)
• Earn points when you make 5 transactions that post each statement period
• Cellular Telephone Protection
• Purchase Security (theft and damage protection)
• Concierge Service
• Lyft Credits
• No foreign currency conversion fee
• Rewards & benefits terms
• Select ‘Apply Now’ to learn more about the product features, terms, and conditions.

Best no foreign transaction fee travel card with a low annual fee

Chase sapphire preferred® card.

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Travel℠.

• Flexible points that can be transferred to 14 travel partners or redeemed through Chase Travel℠ at 1.25 cents each.
• $50 annual statement credit toward Chase Travel hotel bookings.
• Valuable travel protections.
• $95 annual fee.
• Category bonuses are limited and not competitive against other travel cards.
• Transfer partner list is limited compared to programs like Amex Membership ® Rewards and Citi ThankYou ® .
• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Travel℠.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.

Best no foreign transaction fee credit card

Capital one venture x rewards credit card.

The information for the Capital One Venture X Rewards Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.

• High reward potential.
• Wide selection of statement credits.
• No foreign transaction fees.
• No hotel or airline-specific benefits.
• Requires excellent credit.
• Annual fee: $395.
• Rewards: 2 miles per $1 on purchases, 5 miles per $1 on flights booked through Capital One Travel and on purchases through Capital One Entertainment and 10 miles per $1 on hotels and rental cars booked via Capital One Travel.
• Welcome bonus: 75,000 miles after spending $4,000 on purchases in the first three months of account opening.
• APR: 19.99% to 29.99% variable APR on purchases and balance transfers .
• Other perks and benefits: No foreign transaction fees, 10,000 mile card ownership anniversary bonus, $300 annual credit reimbursement for travel bookings made through Capital One Travel, $100 Global Entry or TSA PreCheck application reimbursement credit, airport lounge access benefits, cellphone protection benefit, transfer miles to travel and hotel partners, Hertz President’s Circle Status.

Best no foreign transaction fee card for mobile wallet rewards

U.s. bank altitude® reserve visa infinite® card.

The information for the U.S. Bank Altitude® Reserve Visa Infinite® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

Earn 50,000 bonus points after spending $4,500 in the first 90 days of account opening.

• Annual fee: $400.
• Rewards: 5 points per $1 on prepaid hotels and car rentals booked directly in the Altitude Rewards Center, 3 points per $1 on travel purchases and mobile wallet spending on Apple Pay, Google Pay and Samsung Pay and 1 point per $1 on all other eligible purchases.
• Welcome bonus: 50,000 points after spending $4,500 on purchases in the first 90 days of account opening.
• APR: 22.24% to 29.24% variable APR on purchases and balance transfers. A balance transfer fee of either 3% of each transfer or $5 minimum, whichever is greater, applies.
• Foreign transaction fees: None.

Compare the best credit cards with no foreign transaction fees

Why this card made the list

The Chase Sapphire Reserve card is filled to the brim with points potential and perks, such as bonus rewards on travel and dining, airport lounge access through Priority Pass Select and trip protection, but what makes it unique among travel credit cards is that the rewards earned on the card, called Ultimate Rewards® , are worth 50% more when redeemed for travel booked through the Chase Travel portal. That feature can help you maximize the value of your rewards, changing a “We don’t have enough points to go” to a “Now we can make this trip happen!”

• Annual fee: $550, $75 for each authorized user.
• Rewards: 5 points per $1 on flights and 10 points per $1 on hotels and car rentals purchased through Chase Travel℠ after the first $300 is spent on travel purchases annually. Earn 3 points per $1 on other travel and dining and 1 point per $1 on other purchases, $300 annual travel credit for eligible travel booked through Chase.
• Welcome bonus: 60,000 points after spending $4,000 on purchases in the first three months of account opening.
• APR: 22.49% to 29.49% variable APR on purchases and balance transfers. A balance transfer fee of either $5 or 5% of each transfer, whichever is greater, applies.

The Bilt Mastercard is well suited for renters seeking a credit card with no annual fee and a straightforward rewards program. As long as your landlord accepts electronic payments, you can use the Bilt card to pay your monthly rent, and earn rewards in the process, without the extra expense of the transaction fee most landlords charge for accepting a credit card. Even if your landlord only accepts checks, you can still pay with your card through the Bilt Rewards app and Bilt will send a check on your behalf. Bilt rewards can be used to book travel, transferred to travel partners, used towards next month’s rent payment or saved up towards a down payment on a future home.

• Annual fee: $0.
• Rewards: 1 point per $1 on rent payments without a transaction fee (on up to 100,000 points each year), 2 points per $1 on travel (when booked through the Bilt Travel Portal or directly with an airline, hotel, car rental or cruise company), 3 points per $1 on dining and 1 point per $1 on other purchases. At least five transactions must be made per statement period to earn these rewards.
• Welcome bonus: None.
• APR: See terms for current APR. A balance transfer fee of up to 5% for each balance transfer, with a minimum of $5 applies.

The Chase Sapphire Preferred is one of the most popular travel rewards cards on the market for good reason: it comes with a robust rewards program, generous welcome bonus and is chock-full of perks and protections for travelers. It’s also one of the more accessible travel rewards cards with a relatively low annual fee of $95. Of course, like any good travel card, it also doesn’t charge any foreign transaction fees.

• Annual fee: $95.
• Rewards: 5 points per $1 on travel purchased through Chase Travel℠, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases.
• APR: 21.49% to 28.49% variable APR on purchases and balance transfers.

The $395 annual fee puts this card into the premium travel card category, but you get a lot in return. From rewards to bonus miles to access to a vast network of airport lounges, Venture X has a little bit of everything. In addition to its extensive rewards program, the Venture X card offers a $300 annual travel credit for trips booked through Capital One Travel and a generous welcome bonus to jumpstart your next adventure.

• Rewards: 2 miles per $1 on purchases, 5 miles per $1 on flights booked through Capital One Travel and on purchases through Capital One Entertainment and 10 miles per $1 on hotels and rental cars booked via Capital One Travel. Plus, get 10,000 bonus miles (equal to $100 in travel) on your annual account anniversary and a $300 yearly travel credit for trips booked through Capital One Travel.
• APR: 19.99% to 29.99% variable APR on purchases and balance transfers.

If you’re looking for a travel rewards card with a generous welcome bonus and valuable perks, such as complimentary Priority Pass™ Select membership and annual statement credits, the U.S. Bank Altitude® Reserve Visa Infinite® Card * The information for the U.S. Bank Altitude® Reserve Visa Infinite® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. may fit the bill. What makes it the best no foreign transaction fee card for mobile wallet rewards is that it earns a high rate on both travel and mobile wallet purchase of 3 points per dollar spent without any surcharges for international spending.

Methodology

Our credit cards team has spent hours analyzing hundreds of credit cards. We took a deep dive into the details of each product, and that analysis, combined with our years of experience covering credit cards, informed us as we developed these credit card rankings. Factors we considered include:

• The value of any rewards earned, with an emphasis on travel rewards.
• The value of any welcome bonus that the card offered.
• Any ancillary card benefits, particularly those that might be helpful to someone traveling internationally.
• The annual cost to own the card.

Be sure to compare these cards to those cards on our lists of the best credit cards to view them outside of the context of this list. Although we selected a wide range of cards for those seeking a no foreign transaction fee credit card, these may not always be the market’s best offerings or right for your particular needs.

Should you get a no foreign transaction fee credit card?

“One of the most overlooked credit card benefits is having a card with no foreign transaction fees. This benefit alone can save hundreds of dollars on a single international trip. Having a card with no foreign transaction fees means you don’t have to worry about exchanging or carrying lots of cash. Plus, you’ll also get very competitive exchange rates,” said Zac Hood, travel rewards educator and founder of the app, TravelFreely.com .

Whether you’re a frequent or occasional traveler, you can benefit from having a card with no foreign transaction fees in your wallet. With most cards charging 3% every time you swipe your card abroad, those fees can quickly add up.

Guide to no foreign transaction fee credit cards

What are foreign transaction fees.

Foreign transaction fees are charges by your credit card company for making a purchase in any currency other than U.S. dollars. This could mean in-person purchases you make when traveling internationally or purchases made online from websites or merchants located outside of the U.S.

How much do foreign transaction fees typically cost?

Foreign transaction fees are a percentage of the amount of your purchase. Most cards that charge this fee charge 3%, although some cards that charge anywhere from 1% to 4%. Most travel cards, including airline, hotel and general purpose travel cards do not charge a foreign transaction fee. 

Why banks charge foreign transaction fees

Banks charge foreign transaction fees to cover the expense of converting dollars into another currency. Typically a payment processor — like Visa and Mastercard — will charge the bank who issued your card a 1% fee for the conversion. The bank will then add their own surcharge on top of that fee and pass it on to you. 

There are some issuers, like Capital One and Discover, that don’t charge foreign transaction fees on any of their cards. Others may charge this fee on some of their cards, but not on others. Make sure to read the terms and conditions of any card you’re considering to be sure you understand what fees you might be charged when traveling abroad.

How to avoid foreign transaction fees

The easiest way to avoid foreign transaction fees is by choosing a card that doesn’t include this charge and using it for any purchases made abroad. Our list of the best no foreign transaction fee credit cards is a great place to start.

Should you use a credit card internationally?

Using a credit card when traveling internationally can be a smart idea. Credit cards come with several advantages over cash or traveler’s checks. For starters, if your card is lost or stolen, you can have your bank freeze your card and arrange to have a new one sent to you, depending on your location. You can’t do that with many other forms of payment. 

Credit cards come with other protections like fraud protection, which can limit your liability in the event your card is used by someone else illicitly. Travel credit cards can also come with other valuable features like trip cancellation and interruption coverage, baggage insurance, and access to emergency services and assistance when traveling.

Tips for traveling abroad with a credit card

Make sure that you’re bringing a card that doesn’t charge any foreign transaction fees. And, if you’re staying at a hotel make sure the network your card runs on is accepted by your lodging. Some places may accept Visa, but not Mastercard or American Express or some other combination that may not align with the card you planned on bringing.  

However, we don’t recommend that you use your credit card to withdraw cash when in a foreign country. You may be charged a currency conversion fee, which can be in place of or in addition to a foreign transaction fee. A currency conversion fee is also a percentage of the amount of the transaction, in this case the amount of the withdrawal from an ATM. If you use your card abroad to get a cash advance, it could end up being an expensive transaction since you could get stuck with both a cash advance fee and a currency conversion fee plus any foreign transaction fees if your card charges one.

Some merchants may ask you at the point of sale if you want to use your card to pay in the local currency or in your home country’s currency. It’s best to say you want your card charged in the local currency and then allow your bank to convert the transaction into U.S. dollars. If you say you want to be charged in U.S. dollars, the merchant can tack on a currency conversion fee, also known as a dynamic currency conversion fee.

Frequently asked questions (FAQs)

Multiple banks, including Capital One, Chase and American Express, offer no foreign transaction fee credit cards. However, there may still be other charges, such as out-of-network fees and ATM operator fees.

Foreign transaction fees vary by card issuer but are typically 3% of the U.S. dollar amount spent at an international merchant. Check with your bank before traveling to understand its specific policies and fees.

It depends on the card. Generally, a cash-back rewards card is more likely to have a foreign transaction fee than a travel card. Foreign transaction fees can be a source of revenue for credit card issuers – like annual fees and interest charges – and in addition to the cost incurred by a bank for converting the currency for an international purchase, the bank will typically add an additional charge on top of that. For example, if it costs an issuer 2% to make the conversion, they might add an additional 1% on top of that and pass that along to the cardholder. With cards that don’t charge foreign transaction fees, the issuer will absorb that cost in order to offer it as a feature to make the card more appealing to travelers.

Two popular Chase rewards cards — Chase Freedom Unlimited® and Chase Freedom Flex℠ * The information for the Chase Freedom Flex℠ has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.   charge 3% of each transaction in U.S. dollars foreign transaction fees. A few Chase credit cards that don’t carry foreign transaction fees include:

• Chase Sapphire Preferred
• Chase Sapphire Reserve
• The World of Hyatt Credit Card * The information for the The World of Hyatt Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
• United℠ Explorer Card * The information for the United℠ Explorer Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

*The information for the Capital One Venture X Rewards Credit Card, Chase Freedom Flex℠, The World of Hyatt Credit Card, U.S. Bank Altitude® Reserve Visa Infinite® Card and United℠ Explorer Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy . The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Theresa Stevens is a personal finance writer based in Boston, MA. As a former financial advisor, she has first-hand experience helping people solve their money challenges. When she's not writing, you'll find her trying out new karaoke spots or planning her next trip abroad.

Robin Saks Frankel is a credit cards lead editor at USA TODAY Blueprint. Previously, she was a credit cards and personal finance deputy editor for Forbes Advisor. She has also covered credit cards and related content for other national web publications including NerdWallet, Bankrate and HerMoney. She's been featured as a personal finance expert in outlets including CNBC, Business Insider, CBS Marketplace, NASDAQ's Trade Talks and has appeared on or contributed to The New York Times, Fox News, CBS Radio, ABC Radio, NPR, International Business Times and NBC, ABC and CBS TV affiliates nationwide. She holds an M.S. in Business and Economics Journalism from Boston University. Follow her on Twitter at @robinsaks.

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Best Travel Credit Cards with No Foreign Transaction Fees

* Advertiser Disclosure: How to Money has partnered with CardRatings for our coverage of credit card products. How to Money and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. Lastly, the site does not include all card companies or all available card offers.

Surprise fees suck. No one wants to go on vacation and quietly accumulate nuisance fees, increasing the price of their excursion, just for using a credit card. We’ve built this guide to help you sort out a special class of worry-free travel buddies: credit cards with no foreign transaction fees. 

No foreign fee transaction cards are exactly what they sound like: credit cards that do not charge you extra fees when you’re out galavanting in a foreign country. These cards are another way that How To Money listeners can make their travel dollars stretch further, no matter where in the world they travel. From Toronto to Timbuktu you’ll be avoiding unnecessary fees completely.

Here’s to cheaper travel and smarter spending, the How To Money way!

HTM picks for the best travel credit cards with no foreign transaction fees

Let’s cut to the chase. Here’s our list of the best travel credit cards with no foreign transaction fees. A little further down, we’ll provide an in-depth analysis of how to best use these cards, application requirements, and other nerdy stuff you might want to know! 

Disclaimer: When using credit cards, please remember to follow the golden rules of plastic to make the most of bonuses and perks without finding yourself swimming in debt. If you can’t pay your balance in full and on time every month, pump the breaks on applying for a new credit card until you’re more comfortable financially.

1. Chase Sapphire Preferred® Card

Htm rating: the champ.

You’ll also enjoy other travel trophies such as:

• $50 annual Ultimate Rewards Hotel Credit
• 5x points on travel booked through  Chase Travel℠ & 2x on other travel purchases
• 3x points on dining, food delivery services, and takeout
• 3x points on online grocery purchases 
• 1 point per dollar spent on all other everyday purchases

Plus, cardholders get free trip cancellation insurance and your primary rental car insurance is covered! So whether you want to avoid foreign transaction fees on a once-in-a-lifetime vacation or you often make purchases “across the pond,” you cannot go wrong with this card. 

2. Capital One Venture Rewards Credit Card

Htm rating: no brainer.

The perks that come with the Capital One Venture Rewards Credit Card make it a smart choice for many members of the HTM crew:

• 5X miles on hotels and rental cars via Capital One Travel
• 2x miles on every purchase
• Free hotel room upgrades
• $100 credit for Global Entry & TSA Precheck
• 2 Free access passes to Capital One airport lounges every year

This card simplifies the rewards process without compromising on perks, making it highly valuable for occasional and frequent travelers looking to avoid foreign transaction fees.

3. Capital One SavorOne Cash Rewards Credit Card

Htm rating: frugal find.

Here’s more of what the Capital One SavorOne Cash Rewards Credit Card offers for overseas purchasers:

• Unlimited 3% cash back on dining, entertainment, streaming services, and at grocery stores
• Unlimited 5% cash back on hotels and rental cars via Capital One Travel
• 10% cash back on Uber & Uber Eats purchases
• Free travel accident insurance
• Cash back never expires for open accounts

These perks can certainly come in handy when traveling or at home. Plus, cash back doesn’t expire as long as your account is open so you keep what you earn! 

4. Southwest Rapid Rewards® Plus Credit Card

Htm rating: the co-pilot.

Fasten your seatbelts and cruise with these perks in your pocket:

• $75 annual travel credit
• 4 flight upgrades per year based on availability
• 25% back on inflight purchases
• 3 points per $1 on Southwest purchases
• 2 points per $1 on Rapid Reward hotels and car rentals
• 2 points per $1 on local transit services and public parking
• 2 points per $1 on internet, phone, and select streaming services
• 1 point per $1 on everyday purchases

Got a plus one? Consider adding the SW Companion Pass ! You won’t regret it! 

5. The Platinum Card® from American Express

Htm rating: mac daddy.

And since you’re in the market for the best travel credit card with no foreign transaction fees, take a look at this card’s other travel perks: 

• $200 annual airline credit for incidentals
• $200 annual hotel credit for Fine Hotels or Hotel Collection
• $240 annual digital entertainment credit
• $200 in Uber cash ($15/month and bonus in December)
• $189 CLEAR credit for skipping airport TSA lines
• Airport lounge access 

And those are just the travel perks! You’ll also get a $300 annual Equinox credit, a free Walmart+ subscription, and more. So if you’re a frequent traveler and higher spender, a luxury card like this could easily have your name on it. Remember, you can always close the card after a year to take advantage of the perks and switch to a card with a lower annual fee that still works for your travel habits. 

6. Capital One Venture X Rewards Credit Card

Htm rating: rockstar.

Here are some travel perks that scream celebrity status:

• $300 annual travel credit 
• $100 Global Entry or TSA PreCheck® credit
• Unlimited access to Capital One airport lounges for you and 2 guests
• 10x miles on rental cars and hotels
• 5x miles on flights booked via Capital One Travel
• 2x miles on everyday purchases 

These cardholders also get 10,000 bonus miles every year on the account anniversary. The Capital One Venture X Rewards Credit Card is definitely one to consider to maximize your spending and avoid extra fees when spending outside of the US. 

7. Ink Business Preferred® Credit Card

Htm rating: the hustler.

Here are some of the ways this card works hard for you:

• 3 points per $1 on purchases for internet, phone, and cable services, shipping, digital advertising, and travel
• 1 point per $1 on all other purchases with no cap
• Redeem rewards for cash back, gift cards, travel and more 
• No expiration on cash back rewards as long as your account is open

This card is an excellent option for those who own a business and ship to overseas customers. And if you have employees, you can maximize your rewards with employee cards at no additional cost!

8. Capital One Quicksilver Cash Rewards Credit Card 

Htm rating: savvy spender.

Other card perks for our savvy spenders out there:

• Unlimited 5% cash back on rental cars and hotels
• Unlimited 1.5% cash back on everyday purchases 
• 6-month Uber One membership
• Rewards don’t expire as long as the account is active
• Redeem cash back for any amount 

Plus if you’re considering a balance transfer, you’ll get 0% APR on transfers for 15 months. The Capital One Quicksilver Cash Rewards Credit Card is very attractive if you’re looking to spend little and receive big payoffs in cash back rewards. 

9. Chase Sapphire Reserve®

Htm rating: globetrotter.

• $300 travel credit every year
• 5x points on travel booked through  Chase Travel℠
• 10x points on hotels and car rentals booked via Chase
• 3x points on dining at restaurants & on eligible delivery and takeout!
• Ultimate rewards points do not expire in open accounts
• $100 Global Entry or TSA PreCheck or NEXUS Fee credit
• VIP Lounge access via Priority Pass for you and 2 guests

Plus, you’ll also enjoy a 1-year InstaCart and DoorDash membership—amazing if you’re making foreign purchases at home or across the globe. 

10. Capital One Spark Miles for Business

Htm rating: road warrior.

The good times don’t end there, here are more perks to make traveling and overseas purchases easy like a Sunday morning drive:

• $0 intro for first year; $95 after that
• 2x miles on everyday purchases
• 5x miles on rental cars and hotels booked via Capital One Travel
• $100 credit for Global Entry or TSA PreCheck®
• Redeem miles for flights, hotel stays, and even vacation packages

Sometimes, you don’t need a lot of bells and whistles. With double points on everyday purchases and flexible redeeming opportunities, the Capital One Spark Miles for Business card is a solid choice!

11. Costco Anywhere Visa® Card by Citi

Htm rating: gold star.

Not only will you save money on your vacation by purchasing a Costco Travel package, but you also won’t ever see any foreign transaction fees.

Take a look at these buy-in-bulk benefits:

• $0 annual fee
• 3% cash back on restaurants and eligible travel purchases
• 4% cash back at Costco Gas and EV charging

And when you’re not on vacay, you’ll enjoy other benefits, including 2% cash back on Costco and Costco.com purchases and an extra 2-year warranty on top of the manufacturer’s warranty on appliances, TVs, laptops, etc. 

There’s no such thing as having too much information when it comes to your finances. Below, we’re sharing even more about credit cards with no foreign transaction fees.

What are no foreign transaction fee credit cards?

No foreign transaction fee credit cards eliminate the extra charges that are typically applied to purchases made in a foreign currency or outside the card issuer’s country. Traditional credit cards often come with a hefty fee (typically 3%) on these transactions. These fees can quickly add up, significantly increasing the cost of spending on your fancy overseas trip. By removing this fee, these specialized credit cards offer a cost-effective solution when making purchases overseas or online shopping from international sites.

Why use no foreign transaction fee credit cards? 

Why pay for something when you can get it for free!? Using no foreign transaction fee credit cards can be a more strategic choice for your overall credit card game. It helps you avoid extra charges while abroad or making online purchases from international sites. No foreign transaction fee credit cards save you money by eliminating the 1-3% foreign transaction fee that many traditional credit cards impose by default. This feature makes them an invaluable financial tool for frequent international travelers and online shoppers who frequently buy stuff online from international retailers.

• Key Benefits
• Cost Savings on International Transactions: No foreign transaction fee credit cards save cardholders money on purchases made abroad or with foreign merchants online. They make your travel dollars stretch even further!
• Simplified Currency Conversion: When using no foreign transaction fee credit cards, the card network (such as Visa, Mastercard, or American Express) automatically handles currency conversion at competitive rates. This means travelers don’t need to worry about exchanging money (at ridiculously overpriced exchange rates) or carrying around a bunch of foreign cash.
• Enhanced Travel Rewards and Benefits: Most of our favorite no foreign transaction fee credit cards also come with additional travel-related perks! These are benefits like earning bonus points or miles on travel purchases, complimentary travel insurance, access to airport lounges, and other reward opportunities such as hotel upgrades or late check-out.

Account: A financial record held by a credit card company for a cardholder.

Account Opening: The process of establishing a new credit card account.

Airport Lounge Access: A premium feature offered by many no foreign transaction fee credit cards.

Annual Fees: Yearly charges by no foreign transaction fee credit cards.

APR (Annual Percentage Rate): The yearly interest rate charged on outstanding balances.

Bonus Miles: Rewards earned for spending on no foreign transaction fee credit cards.

Bonus Offers: Special rewards or points given for meeting certain criteria, often including no foreign transaction fee credit cards that offer benefits for international use.

Bonus Points: Points awarded for specific purchases, which can be maximized by no foreign transaction fee credit cards.

Capital: Financial assets or resources that cardholders can access, often increased through rewards from no foreign transaction fee credit cards.

Card Features: Specific attributes or benefits of a no foreign transaction fee credit cards.

Cash Advances: Cash funds provided by a credit card, often with high fees, but unrelated to foreign transaction fees.

Cash Back: A reward program that returns a percentage of spending as cash, which can include international purchases if no foreign transaction fees are charged.

Chase Sapphire Preferred®: A credit card offering travel rewards and no foreign transaction fees.

Chase Sapphire Reserve: A premium travel credit card with extensive benefits, including no foreign transaction fee credit cards.

Credit Card Company: The financial institution that issues no foreign transaction fee credit cards.

Credit Card Issuers: Banks or financial entities that provide no foreign transaction fee credit cards.

Credit Card Payment: The act of paying toward the balance of no foreign transaction fee credit cards.

Credit Card Rewards: Points, miles, or cash back earned from purchasing with no foreign transaction fee credit cards.

Credit Score: A numerical expression based on a level analysis of a person’s credit files, influencing the availability of no foreign transaction fee credit cards.

Currency: The system of money in general use in a particular country, relevant to no foreign transaction fee credit cards for international transactions.

Dining : A category of spending that can earn extra rewards on certain no foreign transaction fee credit cards.

Dynamic Currency Conversion: A process where purchases made in a foreign country are converted to the local currency at the point of sale, often avoidable with no foreign transaction fee credit cards.

Eligible Purchases: Transactions that qualify for rewards or benefits on no foreign transaction fee credit cards, including international spending without foreign transaction fees.

Exchange Rate: The value of one currency for conversion to another, relevant for no foreign transaction fee credit cards to minimize costs.

Foreign Currency: Money used outside the cardholder’s home country, with no extra charges on conversions with no foreign transaction fee credit cards.

Foreign Transaction Fee: Extra charges for transactions made in a foreign currency, avoided by using no foreign transaction fee credit cards.

Frequent Flyers: Individuals who travel often, potentially benefiting greatly from no foreign transaction fee credit cards.

Gas Stations: A category of spending that can earn rewards, including on no foreign transaction fee credit cards.

Hilton: A hotel brand that partners with no foreign transaction fee credit cards to offer rewards.

Hotel: A spending category where rewards can be maximized with no foreign transaction fee credit cards.

Insurance: Protection included with some no foreign transaction fee credit cards.

Interest Rate: The rate charged on borrowed credit card balances, separate from foreign transaction fees.

Issuers: The banks or financial institutions that provide no foreign transaction fee credit cards.

Local Currency: The currency of the country a cardholder is visiting, with purchases directly processed without additional fees on no foreign transaction fee credit cards.

Lounges: Airport facilities accessible for free or at a discount with certain no foreign transaction fee credit cards.

Mastercard: A credit card network that offers no foreign transaction fee credit cards.

Miles: Travel rewards earned from spending on no foreign transaction fee credit cards.

New Cardmember Offer: Initial bonuses for opening new no foreign transaction fee credit cards.

Perks: Benefits offered by no foreign transaction fee credit cards.

Avoid extra charges abroad

Opting for no foreign transaction fee credit cards that eliminate annoying fees allows you to relax more while traveling. You can fully immerse yourself in your well deserved overseas excursions without the worry of unnecessary or surprise charges. We want every dollar in your travel budget to be spent on enriching experiences, not on avoidable transaction fees.

Example Scenario : Sarah, an avid traveler, used her no foreign transaction fee credit card during her month-long trip across Europe. By avoiding the typical 3% foreign transaction fee on her total expenses of $3,000, she saved $90. By saving this 90 bucks, she was able to spend that money instead on a 1-hour guided tour in Rome that she initially thought was out of reach.

Save on online foreign purchases

For savvy online shoppers that often buy from international websites, no foreign transaction fee credit cards offer a significant advantage. These cards eliminate the usual transaction fees that accumulate on cross-border purchases, making global marketplaces more accessible and budget-friendly. This benefit opens up a wider array of shopping options without the deterrent of additional costs.

Case Study : Mark, a tech enthusiast who lives in Colorado, purchased a high-end camera from a Japanese online store. The camera cost $1,500, and by using his no foreign transaction fee card, Mark avoided the standard $45 fee (3% of the purchase price) that a traditional card would have charged. With that $45 saved, he splurged and invested in a fancy protective cover to keep his new camera safe. By using the right credit card and saving on fees, Mark can stretch his photography budget even further.

Key features of no foreign transaction fee credit cards to consider

To help find the best no foreign transaction fee credit cards that suit you, it’s a good idea to look beyond the basic feature of avoiding fees abroad. Each travel card we recommend offers many other key features you should consider that can multiply your rewards. We always recommend folks analyze their personal lifestyle and spending patterns, and then find the right credit cards to match for the highest benefit. Digging deeper into no foreign transaction fee credit cards, here are some other attractive features to maximize rewards and protections.

Applying for these cards

Applying for no foreign transaction fee credit cards starts with researching and comparing options online. The goal is to choose a card that you will easily qualify for, as well as best suits you and your spending habits. 

Understand eligibility criteria

Before applying for any credit card, it’s really important to understand the card issuer’s eligibility criteria. Each card criteria is different, and includes a bunch of factors. Things like your credit score, income level, age, or even where you reside. It’s a good idea to double-check that you meet all these qualifications before applying. This will streamline the application process and prevent potential rejection.

Apply online or in person

Once you’ve chosen the card you want and know you’ll meet the eligibility criteria, the next step is to submit an application! You can apply online, which is obviously the most convenient way to submit your information electronically. Online applications usually take under 10 minutes, and most issuers give instant decisions if you’re approved. However, if you prefer a more personal touch or face-to-face interaction, applying in person at a bank branch is also an option. 

Potential drawbacks

Before you jump in and think these cards will solve all your travel problems, it’s important to note the potential downsides of no foreign transaction fee credit cards. Understanding these potential limitations is vital for ensuring you don’t get caught off guard later. There’s no sense in saving a bunch of money on transaction fees, if you have to pay an equal amount of fees in another area.

Possible higher annual fees

Probably the biggest aspect to consider with no foreign transaction fee credit cards is the potential for higher annual fees . Although you can save a bunch on foreign transaction fees (especially for frequent international spenders) the annual fees imposed by some of these cards may diminish those savings. You must very carefully evaluate the annual fee in relation to the benefits you’ll likely receive, to make sure the card offers a net positive value.

Rewards may not suit all

The rewards programs associated with many no foreign transaction fee credit cards are typically designed with travelers in mind. So they might offer perks that don’t really align with everyone’s lifestyle. For those who travel less frequently, the discounts and perks included might not be as valuable. All in all, it’s important to research and understand how the rewards structure matches your spending patterns and lifestyle. You’ll notice we recommend a lot of Chase and Capital One cards for travelers… This is because these issuers typically have the most flexible reward programs for redeeming points, beyond offering no foreign transaction fees.

Maximizing card benefits

To fully leverage the advantages of no foreign transaction fee credit cards, cardholders should be mindful in how they swipe their plastic!

Use for all eligible purchases

Maximizing the benefits of no foreign transaction fee credit cards involves using the card for all eligible purchases . This strategy ensures that each transaction, particularly those in foreign currencies, leverages the card’s potential to save on fees and accumulate valuable rewards. Even when you’re not traveling overseas, incorporating the card into daily spending might let you exploit the other card benefits, like accumulating points or cash back.

Strategies & Tips :

• Set as Default Payment : Make your no foreign transaction fee card the default payment option on frequently used online shopping sites and apps. While you’re traveling overseas, make sure you use it for all purchases to avoid those transaction fees! If you use a payment app on your phone (like Apple Pay or iPhone Wallet), make sure the right credit card is synced to that account.
• Add an Authorized User: If you’re traveling overseas with a spouse or trusted partner, consider adding them as an authorized user to your account. This will give them their own card, so they can get the benefit of no transaction fees while traveling, too.
• Use for Recurring Payments : Switching all your recurring payments, such as subscriptions and utility bills, to your no foreign transaction fee card can maximize other rewards accumulation.
• Visual Reminders : Place a sticker or a note on your regular use items, like your phone or laptop, to remind you to use your no foreign transaction fee card for online purchases on foreign sites.

Combine loyalty programs

Combining no foreign transaction fee credit cards with loyalty programs can significantly boost the card’s value. This approach multiplies the rewards of every purchase by adding loyalty points or miles to the card’s inherent benefits. This maximizes the return on spending, particularly for travel related purchases.

• Airline Miles Boost : John, a frequent flyer, uses his no foreign transaction fee card linked to his favorite airline’s loyalty program for all his travel bookings and everyday purchases. This strategy helped him accumulate enough miles for two round-trip tickets to Europe within a year.
• Hotel Points Strategy : Sarah, who travels often for work, uses her no foreign transaction fee card that earns points with her preferred hotel chain for all her business expenses. By combining her card’s rewards with the hotel’s loyalty program, she enjoys several free stays and room upgrades every year, enhancing her travel experience

Comparing no foreign transaction fee credit cards with regular credit cards

You might think the main advantage of using no foreign transaction fee credit cards (vs regular credit cards) is saving on fees when spending internationally. But these are other, potentially more valuable, secondary benefits that travelers shouldn’t overlook.

Cost benefits on international spending

Let’s draw a chart comparing potential savings on international transactions between no foreign transaction fee cards and regular credit cards:

Additional perks for travelers

Comparing additional perks for travelers offered by no foreign transaction fee cards versus regular credit cards:

Managing multiple credit cards

Successfully managing multiple credit cards involves balancing the rewards you get, with the fees you might have to pay.

Balancing rewards and fees

It’s in your best interest to use each card you own in situations where its unique benefits most effectively offset any associated costs. For example, using an airline-specific credit card to pay for flights might earn you a bonus multiplier, offsetting the cost of its annual fee. By strategically evaluating where you make the most credit card transactions, and cross-referencing the perks of the cards you own, you can optimize your rewards strategy. This will greatly help with both points accumulation and minimize fees!

Future of no foreign transaction fee credit cards

No foreign transaction fee cards are becoming more and more popular. With every major credit card issuer fighting for more clients, the entire financial industry is starting to offer more comprehensive rewards programs and valuable card features. This is good news for international spenders and frequent travelers! No foreign transaction fee credit cards aren’t going away any time soon – if anything, they are getting better!

No foreign transaction fee credit cards FAQs

There’s a long list of no foreign transaction fee credit cards available these days. So we were able to rank the “best” ones by evaluating the additional features that are most valuable for travelers and HTM listeners. This list includes cards with the top miles or points earning opportunities, some $0 annual fee cards, and a few premium or business credit cards for frequent travelers. All of these credit cards do not charge extra when making purchases overseas or with foreign entities.

Yes! Besides eliminating foreign transaction fees, users can earn awesome travel rewards or points, get included travel insurance and luggage protection, and sometimes even access to airport lounges. Not to mention, there are some hefty welcome bonus opportunities that are easy to qualify for.

You should consider the type of rewards offered (miles, points, cash back), the value of rewards, the annual fee, and additional benefits like travel insurance or free lounge access when comparing no foreign transaction fee credit cards.

No, not all travel credit cards waive foreign transaction fees. You should always verify such details with the card issuer before swiping your card overseas to avoid unwelcome surprises.

Absolutely! In fact, you’ll probably want to do this to qualify for any welcome offers or extra point opportunities when you first open an account. You can use no foreign transaction fee credit cards for everyday spending, and in many cases, doing so helps to earn more rewards that can be redeemed for future travel.

Visa, MasterCard, and even American Express cards are widely accepted on a global scale. Credit card issuers have agreements with merchants globally, making these cards universally acceptable. You shouldn’t run into any issues using no foreign transaction fee credit cards to avoid those additional charges at any location worldwide.

Nope. The credit limits approved are the same for no foreign transaction fee credit cards as well as regular credit cards. Credit limits are determined based on your creditworthiness and overall risk profile at the time you apply.

There are potentially higher interest rates that come with no foreign transaction fee credit cards. But, this doesn’t matter if you pay off your balance in full every single month like we always recommend. Also some cards have higher annual fees to watch out for. But, this can also be avoided by making sure the benefits outweigh the cost of annual fees.

Not all card issuers offer no foreign transaction fee credit cards. However, many major credit card companies do provide this option, particularly for their premium range of cards.

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The Best Travel Credit and Debit Cards with No Foreign Transaction Fees (Updated 2022)

No matter where you go or how long you travel, using a credit or debit card with no foreign transaction fees is one of the easiest ways to save money while travelling, period.

Currency exchange booths at airports and banks can be convenient, but a lot of your money goes towards exchange fees (e.g. $10 per exchange) and hidden commissions padded into poor exchange rates (especially the booths advertising “no commissions”). With a bit of research and planning, you can save  hundreds , if not thousands of dollars in fees over the long-term!

Credit and debit cards with no foreign transaction fees are the cheapest, easiest ways to get money and make payments overseas.  Credit cards are accepted worldwide, and ATMs are internationally networked through the Visa/Plus and Mastercard/Cirrus networks. You enter your PIN and withdraw your cash just like you would at home, while the exchange rates are automatically handled by the banks.

However, some credit and debit cards are better than others!  For the majority of cards, banks still try to add commissions and fees to each payment or ATM withdrawal made abroad. Even if you don't travel a lot, these fees add up quickly.

We've rounded up the best credit and debit cards around the world that minimize or eliminate these fees, putting more money back into your adventure funds!

NOTE: These are cards to be used overseas to avoid foreign transaction fees. For the best all around travel points cards, check out the travel rewards cards section of CardRatings , as well as our free guide “ How to Get Free Flights with Travel Credit Cards and Points “!

The best travel credit cards with no foreign transaction fees

Credit cards have various features that can make or break your travel savings. Ideally, these are the features to look for in a credit card:

• Foreign transaction fee of 0%
• Competitive points or cash-back rewards program (at least 1% of the purchase price)
• Extra perks, like free car or travel insurance

Our top U.S. credit cards with no foreign transaction fees

Not only do the Chase Sapphire Preferred and Chase Sapphire Reserve cards have no foreign transaction fees, but they offer major sign-up bonuses that can already cover a free domestic flight. You also earn 2x-3x the points when spending on travel and dining worldwide, making them essential cards for travelling.

Chase Sapphire Preferred® Card

• 60,000 reward points (worth $750 ) after meeting the minimum spend of $4,000 in the first 3 months
• $50 annual Ultimate Rewards Hotel Credit, 5x points for purchases on Chase Ultimate Rewards, 3x points on dining, select streaming services and online groceries, and 2x points on all other travel purchases.
• Points are worth 25% more on airfare, hotels, car rentals, and cruises when booking through Chase Ultimate Rewards (e.g. 60,000 points worth $750 toward travel)
• Includes trip cancellation/interruption insurance, auto rental collision damage waiver, lost luggage insurance and more.
• Can transfer your reward points to leading airline and hotel loyalty programs
• No foreign transaction fees
• Annual fee: $95

Capital One Venture Rewards Credit Card

• 75,000 bonus miles (worth $750 ) once you spend $4,000 in the first 3 months
• Up to $100 credit for  Global Entry or TSA PreCheck
• 2 complimentary lounge visits per year to Capital One Lounges or to 100+ Plaza Premium Lounges
• Earn 5x miles on hotels and rental cars booked through Capital One Travel
• Miles don't expire. Book flights, hotels, or transfer points to 10+ travel loyalty programs.

Americans have the cream of the crop when it comes to credit card options, and they're constantly improving. We highly recommend checking out the No Foreign Transaction Fees section on CardRatings.com for up-to-date card comparisons and sign-up bonuses.

Not from the U.S.? Check your country below to see what's best for you!

The best travel debit cards with no foreign transaction fees

These are the ideal features to look for in a debit card:

• Foreign transaction rate of 0%
• International ATM withdrawal fee of $0
• Refund of third-party ATM withdrawal fees (This is rare, but it exists!)
• Competitive points or cash-back rewards program (at least 1% of the purchase price)

Many banks around the world have come together to establish the Global ATM Alliance . If your card belongs to a bank in the alliance, you can make withdrawals from banks at other alliance member ATMs around the world without paying additional fees . Here's our roundup of the best debit cards for travel.

Essential tips for using debit and credit cards while travelling

1. pay using a credit card whenever possible..

Foreign ATMs can still inflate their exchange rates and charge withdrawal fees, but a direct credit card payment only involves the credit card you signed up with in your home country. And with a good points or cashback program, this beats any other method of foreign payment.

Bottom line? Always pay with a credit card, but  NEVER withdraw cash from an ATM with one. Credit cards charge interest on cash advances from the moment you withdraw it at the ATM.

2. Never take the option of paying in your own currency

Card terminals at shops and hotels will often detect that your card is from another country and offer to bill you in your home currency. Never choose this option – always pay in the foreign currency!  The exchange rate offered will be inflated by the card terminal, so if you’re using one of the credit cards recommended above, you will receive a much better exchange rate.

3. Inform your debit and credit card providers of your travels

Credit and debit cards are frequently being monitored by security departments for suspicious activity. If you're from the U.S. and you make an ATM withdrawal in Thailand when they don’t know you’re overseas, this could appear suspicious to your bank, and your card might be locked the next time you withdraw. Give your bank or credit card provider a call and let them know when and where you’ll be travelling. Take it from us – you  do not want to be stuck without cash and a useless card!

4. Obtain at least one debit and credit card on each of the Visa/Plus and MasterCard/Cirrus networks.

Even if you follow the advice in tip #3, it’s possible your card could get locked anyway. On top of that, it’s easy to find yourself in a situation where an ATM accepts only one network and not the other. For example, when we travelled in Japan, the only ATMs we could find that would even accept international cards were at 7-Eleven, and they only worked with cards on the Visa/Plus network. I speak from experience – there’s nothing more stressful than needing more cash and not being able to withdraw it, so be prepared and bring multiple cards on multiple networks .

5. Consider a credit card with included insurance

The jury is still out on whether it's safe to rely on car and travel insurance that is sometimes provided by credit cards, and unfortunately, the only way to know for sure is to file a claim after the accident has happened. If you're concerned about insurance, its best to be safe and purchase it from the car rental company, but if not, you might as well pay with a credit card that offers car insurance and hope for the best if you do end up in an accident. We generally try to use American Express cards when thinking about insurance, as they are managing the insurance on the cards worldwide, whereas Visa/Mastercard insurance is often handled by the card's issuing bank, and may not be as straightforward to redeem.

6. Keep backup cards in your hotel room

If you lose all your credit and debit cards while overseas, you're going to be in quite the pickle. Always keep at least one extra card back at your accommodation in case your main card or entire wallet is lost or stolen while you're out.

7. Bring $100 USD as backup cash

When all else fails, U.S. dollars are the closest thing to a global currency that we have today. It's the most commonly accepted currency, not only at exchange booths, but even at shops and restaurants in other countries. If there are no ATMs in sight or your cards have been stolen, an emergency backup of U.S. dollars will get you out an emergency situation.

Do you have another card recommendation? Know something we don't? Write it in the comments below!

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Thrifty Nomads has partnered with CardRatings for our coverage of credit card products. Thrifty Nomads and CardRatings may receive a commission from card issuers. Opinions expressed here are author's alone. Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Nice! This is really helpful thanks!

Great tips for travelers!

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What are the best U.S. debit and credit cards to use overseas?

Just got off a long phone call with HSBC Canada. They are unable to tell me what their card issuer exchange rate surcharge. I had just come back from Mexico and used my HSBC ATM card on a HSBC ATM machine and I calculated the fee to be about 2.1% based on that days interbank rate. Shouldn’t this fee be in the disclosure statements? There was a class action lawsuit I believe many years ago because the credit card companies failed to state their foreign exchange surcharge. From what I’m reading on the Global ATM website is that Visa is involved with the foreign exchange when using an ATM and it states they add a 2.5% foreign exchange fee. You didn’t show this in your nice graphics above. Is it berried in the base exchange rate?

We use Visa Avion, which is good in all categories but I believe they do charge a slight foreign transaction fee. But we have claimed through their default insurance, both car, health, and travel. All minor things, but ya, no issues. The card is not free however, and unless you spend a lot each month or travel frequently it’s not worth it. For us, the points for the business transactions transfer to personal, so it really adds up! (Currently we have more than enough to fly the entire family pretty much anywhere. ) When abroad we usually only use the card for car rental or nicer hotels and of course flights or trains and such (to access insurance benefits one must book the flight etc on that card…) But read the fine print, confirm with the agent. For example, usually to get car insurance you have to wave the rental companies insurance. (This saved us a ton in Africa!) The rental agencies will even phone and confirm if they don’t know the card. These cards were set up for frequent business travelers originally. But read the fine print too, I know our card covers 30 days from home, but you can add insurance to the card for longer trips too. It’s all through RBC, and like any blood sucking corporation there are advantages for the savvy but their ultimate goal is to get you to pay twice for the same thing. Read the fine print, phone your card agent, etc… But we honestly have found the Avion worth it for us because of the company points.

This info is super helpful! For Canadians, what about the Marriott Rewards® Premier Visa® Card? I’ve been looking into credit and debit cards for an upcoming trip to Southeast Asia, and came across this card today. From what I can tell, it seems pretty good (no foreign currency transaction charges and has perks). Anyone have any experience or thoughts on this card? Thanks!

so where do you find that tangerine thrive chequing account info? I have an account with tangerine and I can find no info on this animal on their website

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Disclosures Many of the listings that appear on this website are from companies which we receive compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The site does not review or include all companies or all available products. Thrifty Nomads has partnered with CardRatings for our coverage of credit card products. Thrifty Nomads and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

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5 Best Travel Cards without Foreign Transaction Fees 2024

Do you spend frequently in foreign currencies? Maybe you love to shop online with international retailers, or perhaps you’re a frequent traveler, or you’re living and working abroad. Foreign transaction fees can add 3% or more to your bill, every time you spend with your debit or credit card – so what’s the alternative?

Some debit cards, prepaid cards and international credit cards waive foreign transaction fees, which can make it easier and cheaper to spend overseas. This guide covers all you need to know, including cards from popular US banks, as well as a couple of alternative providers which can help you save – Wise and Revolut .

Key points: Best cards with no foreign transaction fees

• Wise international debit card : Hold and exchange 40+ currencies, spend with your card in 170+ countries, with no foreign transaction fee and currency exchange with the mid-market rate and low fees from 0.43%
• Revolut debit card : Choose a basic account or upgrade for more features, with 25+ supported currencies, and linked payment card options – plus some no-fee ATM withdrawal and currency exchange, based on your account plan
• Chase Sapphire Preferred: Earn up to 5x rewards on travel and dining spending, which you can then redeem against travel spend – plus access some travel insurance and assistance products for free
• American Express Platinum: Earn 5x rewards on flights and hotel bookings, plus lounge access, travel benefits from partner organizations, and Amex membership benefits
• Charles Schwab Checking Account: Earn interest on your balance at 0.45%, and get ATM fee rebates around the world, with no account maintenance fees to pay

Go to Wise Go to Revolut

5 Best travel cards with no foreign transaction fees in the US

You’ll be able to find international debit, prepaid and credit cards in the US which have no foreign transaction fees. However, that doesn’t mean there are no fees to pay at all. Credit cards may have an annual fee, interest, cash advance costs and penalty fees for example, while debit cards can levy their own monthly charges, ATM withdrawal fees and exchange costs.

Banks like Chase , and card networks like Amex , both offer select cards with no foreign transaction fees – but you’ll have to weigh up the other costs to make sure they’re worthwhile.

Similarly, specialist services like Wise and Revolut have international debit cards with no foreign transaction fees, and their own set of features and fees.

To paint a picture, here’s a comparison chart with some of the options for no foreign transaction fee cards available in the US:

Go to Wise Go to Revolut  

As you can see, you’ve got a pretty diverse choice when it comes to US cards with no foreign transaction fees, from credit cards with an annual charge to pay, to no fee checking accounts and specialist services which let you hold in multiple currencies, as well as spending globally. That means you can weigh up your options, to pick the perfect card for you. Here’s a quick summary of the cards we’ve highlighted so far – there’s more detail on each coming right up:

• Wise international debit card : Spend in 170+ countries, with no foreign transaction fee and currency exchange with the mid-market rate and low fees from 0.43%
• Revolut debit card : Spend globally with your Revolut card and get some no-fee ATM withdrawal and currency exchange, based on your account plan
• Chase Sapphire Preferred: Earn up to 5x rewards on travel and dining spending, and access some travel insurance and assistance products for free
• American Express Platinum: Earn 5x rewards on flights and hotel bookings, plus lounge access and travel benefits from partner organizations
• Charles Schwab Checking Account: Earn interest on your balance at 0.45 %, plus get ATM fee rebates around the world, with no account maintenance fees to pay

Wise international debit card

💡 Key point: Hold 40+ currencies, spend with the Wise card in 170+ countries, send money to 70+ countries

The Wise account can be opened online, to hold and exchange 40+ currencies with the mid-market rate and low fees from 0.43%. There’s no foreign transaction fee to pay, and it’s free to spend any currency you hold in your account. Plus, get extras like local bank details to get paid easily from 30+ countries in 10 currencies.

Foreign transaction fee: No foreign transaction fee

Annual or monthly fee: No fee

Wise currency conversion : Mid market exchange rate with conversion fees from 0.43%

Benefits and rewards: Get local bank details to get paid to your Wise account from 30+ countries, in 9 foreign currencies

Get Wise Card

Revolut debit card

💡 Key point: Choose your account plan, to hold 25+ currencies, spend globally, and access some no-fee currency exchange based on your account plan

Revolut has standard accounts with no monthly fees, and a couple of higher tier account options with fees up to 16.99 USD/month, which have additional features. All accounts have linked debit cards, can hold 25+ currencies, and have some no-fee currency exchange and ATM withdrawals, although the exact number of no-fee transactions available depends on the account tier you select.

Annual or monthly fee: No fee for standard account, up to 16.99 USD/month for higher tier accounts

Currency conversion: Mid market exchange rate to plan limits

Benefits and rewards: Get extras like budgeting and saving features, plus accounts for under 18s

Go to Revolut

Chase Sapphire Preferred credit card

💡 Key point: Travel optimized card with high rewards on travel spend, and extra benefits and offers including travel insurance and assistance

Chase Sapphire Preferred is a Visa credit card with no foreign transaction fee and a relatively low annual charge of 95 USD. In return you can earn points on travel and everyday spend, to redeem later against travel rewards. You’ll also be able to access various travel benefits like some baggage insurance, trip cancellation cover and more.

Annual or monthly fee: 95 USD annual fee

Currency conversion: Visa exchange rate

Benefits and rewards: Earn up to 5x rewards on travel spend, plus extra travel perks and offers

American Express Platinum credit card

💡 Key point: Travel credit card with a relatively high annual fee, offset by extra perks and opportunities to earn rewards on travel faster than some alternative card options

If you don’t mind the annual fee, the American Express Platinum credit card can offer some great rewards on day to day spending, plus a huge range of partner offers and discounts which are tailored to travel. Rewards also cover entertainment and dining, making this a good card for people who love to spend on life’s little luxuries.

Annual or monthly fee: 695 USD annual fee

Currency conversion: American Express exchange rate

Charles Schwab Investor Checking Account Visa debit card

💡 Key point: No fee checking account, offered alongside Schwab brokerage options, to allow customers to spend internationally for lower fees

The Charles Schwab Investor Checking Account and Visa debit card is offered alongside the One brokerage account, so that as well as investing with Schwab, you can also cut the costs of managing your money day to day. Interest is paid on the balance you hold, and there are no foreign transaction fees and unlimited ATM fee rebates, to keep costs low overall.

Benefits and rewards: Offered with a brokerage account, to make it easier to transfer in and out of both account products

How to get a card with no foreign transaction fees in the US

The exact steps you need to take to get a card with no foreign transaction fee in the US may vary depending on the provider you select. However, in most cases, if you’ve got a full set of ID and proof of address documents, and you’re a US resident, you’ll be able to get your account all set up, and your card ordered, online or through the bank or provider’s app.

As an example, let’s look at how to get a Wise card in the US:

• Download the Wise app or head to the Wise desktop site
• Click ‘Open an account’ and enter your email address – you can also register using a Facebook, Google or Apple ID
• Follow the prompts to enter your personal and contact information
• Upload an image of your ID and proof of address documents for verification
• Once your account is verified you can add your first balance in the currency of your choice
• Select the card tab and follow the prompts to order your Wise card

Ready to get started?

What is a foreign transaction fee?

A foreign transaction fee is a percentage fee charged by your bank or card issuer every time you spend or make a withdrawal with your credit, debit or prepaid card, in a foreign currency. That means that foreign transaction fees can apply when you travel and spend or make ATM withdrawals overseas, or when you’re shopping online with retailers based overseas, and spending in foreign currencies.

Some banks, specialist providers and card issuers waive foreign transaction fees – we’ve got a few to consider coming up later in this article.

How do foreign transaction fees work?

If your bank or card issuer charges a foreign transaction fee, you’ll find that an extra percentage fee is added onto your bill whenever you use your credit, debit or prepaid card to spend in a foreign currency .

When you pay in a foreign currency, you’ll usually find your spending is converted back to dollars using the bank or card issuer’s exchange rate. The foreign transaction fee is then calculated as a percentage of the dollar amount , and also deducted from your balance (for a debit card) or added to your bill (when you spend with a credit card).

How much are foreign transaction fees?

As we mentioned earlier, the good news is that not all banks and card issuers charge foreign transaction fees. However, the bad news is that if your bank does use foreign transaction fees, they can be pretty steep – often around 3% of the dollar amount you spend.

That quickly mounts up. Say you’re on vacation, and spend 1,000 USD in total on shopping and eating out. The foreign transaction fee alone adds 30 dollars to the total bill – and this rises to 150 dollars in foreign transaction fees if you’re on a longer break and end up spending 5,000 USD, for example.

We all want our money to go further when we’re on vacation or when we shop online. This guide covers providers and banks which have card products without foreign transaction fees, to help you save. We’ve looked at a few major US banks and card networks, plus a couple of providers with multi-currency holding accounts and no foreign transaction fees – Wise and Revolut .

How to use cards internationally

Generally, using your credit, debit or prepaid card overseas is just as easy as doing so at home in the US. However, some banks may require you to inform them of your travel plans – to avoid your payments flagging as suspicious on their system – and you’ll also need to take a few other simple steps to make sure you can spend easily, and without any extra fees.

Here are a few things to consider:

• If you’re making a withdrawal or spending abroad, check that the ATM is compatible with your international card – look for the Amex, Visa or MasterCard logo
• Double check the fees charged by your bank for spending and making withdrawals overseas, so there are no surprises
• Always pay in the local currency wherever you are to avoid dynamic currency conversion (more on that next)
• Update your contact details with your bank, in case they need to get in touch while you’re abroad
• Pay your bills on time, so you don’t run into late payment fees from your card issuer

What is dynamic currency conversion?

Dynamic currency conversion (DCC) is where you’re asked, by a merchant or when making an ATM withdrawal, if you’d rather pay in dollars instead of the local currency where you are. It’s promoted as a time saver – as you’ll instantly see how much your payment is costing in dollars, with no need to do the math. However, in reality it usually means you pay more overall, as the merchant or ATM operator can set the rate used to convert your payment to dollars, and add in fees too. This pushes up the price, and is worth avoiding.

The card operators and specialist providers we’ve touched on in this guide all handle currency conversion in different ways – but they’ll usually offer a much fairer deal than relying on DCC. Here’s how a few convert your money when you spend:

• Wise : Currency conversion uses the mid-market rate with low fees from 0.43%, no foreign transaction fee
• Revolut : Currency conversion uses the mid-market rate to your plan limit with fair usage fees of 0.5% after that, no foreign transaction fee
• Chase: Currency conversion uses the Visa rate on the day of purchase, or on the day the purchase is processed, no foreign transaction fee

Which US banks do not charge foreign transaction fees?

Banks often charge foreign transaction fees when customers spend on their cards, but some US banks do offer a selection of card options with no foreign transaction fees. That can be a good pick if you travel a lot or if you like to shop online with international retailers.

Here are some examples of popular US banks that offer cards without overseas transaction fees:

• Chase: Sapphire Preferred credit card; Sapphire Reserve credit card. Chase has varied Sapphire brand cards, depending on your preferences, and a good selection of co-branded no foreign transaction fee cards issued with hotel chains, airlines and even Amazon
• Bank of America: Travel Rewards credit card; Premium Rewards credit card; Premium Rewards Elite, Travel Rewards for Students. Bank of America has a pretty impressive array of travel credit cards including these and a whole host of cards issued in partnership with airlines, cruise lines and more.
• Capital One: Quicksilver credit card; Venture Rewards credit card. Capital One has several different variants on both of these card brands, with no foreign transaction fees, and aimed at customers with different needs, preferences and credit ratings
• Wells Fargo: Autograph Visa credit card. Check out the offers from Wells Fargo for no foreign transaction fee card options, including the Autograph Visa

This list is not intended to be exhaustive – you may find other US banks or other cards that don’t have foreign transaction fees – so do remember to do your own research to pick out the perfect card for your specific needs.

Conclusion: Best card for overseas spending

If you spend in foreign currencies often – either when you travel or when you shop online, getting a no foreign transaction fee card can make sense. You’ll cut down the overall costs of transacting in foreign currencies, and depending on the card type and account you prefer, you may also get extras like reward points or multi-currency holding facilities.

We’ve looked at several different no-foreign-transaction-fee card types, including credit cards which have an annual fee but also offer great reward earning opportunities; and some specialist cards from providers like Wise and Revolut .

• Wise has a flexible multi-currency account which can hold and exchange 40+ currencies, so you can spend with no foreign transaction fees and currency conversion at the mid-market rate.
• Revolut also supports 25+ currencies for holding, and has handy perks like budgeting and saving options, so you can do more with your money at home or abroad.

Use this guide to compare the features of each card and choose the one that best fits your personal needs and spending habits.

Best card with no overseas transaction fees US FAQs

How do I avoid foreign transaction fees?

To cut the costs of spending overseas it makes sense to try to find a card which avoids foreign transaction fees. Take a look at no-foreign-transaction-fee credit cards from your own bank – including the Chase Sapphire Preferred credit card, and compare them against low cost debit card options from services like Wise and Revolut.

Which banks charge no foreign transaction fees?

Many major US banks – including Chase, Capital One, Bank of America and Wells Fargo – have one or more credit cards with no foreign transaction fee. However, you’ll need to read the terms and conditions carefully on your account to make sure you’ve picked a card that suits your needs. As an alternative, you might consider a debit card with no foreign transaction fee from a non-bank provider like Wise or Revolut.

Is it better to pay in local or foreign currency with my card when traveling?

It’s always best to pay in the local currency wherever you are, to avoid the extra fees that come with dynamic currency conversion.

What is the most cost effective way to exchange currency?

Often spending on your no foreign transaction fee card is pretty economical – and usually cheaper than using an airport or hotel currency exchange. Another smart choice is to open a multi-currency account with a provider like Wise or Revolut so you can exchange and hold all the currencies you need in one account, ready to spend or withdraw when you travel.

Is it better to buy currency for the country you are visiting?

Carrying a lot of cash comes with risks, so making ATM withdrawals when you arrive in your destination is often the better idea. Make sure you have a card with low or no ATM fees and no foreign transaction fee, and avoid credit cards if you can, as these usually mean high cash advance costs. Both Wise and Revolut have low cost account options which have some no-fee ATM withdrawals internationally, every month.

How do you avoid exchange rate fees?

It’s not usually possible to avoid exchange fees entirely, but you can certainly look for a bank or provider which has transparent and low charges, to cut costs overall. Compare your own bank against a specialist service like Wise or Revolut, to see which works out cheaper for the type of transactions you make often.

• Chase credit cards with no foreign transaction fees
• American Express Platinum credit cards
• Charles Schwab checking account

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• Credit Cards

Best No Foreign Transaction Fee Credit Cards in Canada for 2024

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

Have you ever looked at your credit card bills after returning home from a trip abroad and been shocked at how much each purchase actually cost you? Or ordered something online from an American retailer that turned out to be more expensive than you expected? It’s not that the exchange rate is worse than you thought — your credit card issuer likely added a foreign transaction fee, or FX fee, to the purchase.

‘No foreign transaction fee’ credit cards, sometimes referred to as international credit cards , don’t charge you extra when you shop abroad. If you travel often or make frequent foreign transactions online, one of these credit cards could help you save some cash.

Here are the best ‘no foreign transaction fee’ credit cards, according to NerdWallet’s analysis. 

Best ‘no foreign transaction fee’ credit cards in Canada

• Methodology

Summary of the best ‘no FX fee’ credit cards

What to know about credits card with no foreign transaction fee.

Best for: Rewards points

Scotiabank gold american express® card.

• Earn up to $650* in value in the first 12 months, including up to 40,000 bonus Scene+ points. Offer ends July 1, 2024.
• You will not pay 2.5% foreign transaction fees on any foreign currency purchases, including online shopping and when travelling abroad. Only the exchange rate applies.
• Earn 5X Scene+ points for every $1 CAD spent on eligible grocery stores, restaurants, fast food, and drinking establishments. Includes popular food delivery and food subscriptions.
• Earn 5X Scene+ points for every $1 CAD spent on eligible entertainment purchases. Includes movies, theatre, and ticket agencies.
• Earn 3X Scene+ points for every $1 CAD spent on eligible gas and daily transit. Includes rideshare, buses, taxis, subway, and more.
• Earn 1X Scene+ point for every $1 spent on every other purchase.
• You’ll earn 6X Scene+ points for each $1 CAD charged to your account on all eligible purchases¹ at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry and Co-Op.
• Discounted Priority Pass™ membership, which grants you access to over 1200 VIP lounges around the world.
• Score deals on shopping, dining, travel and more with Amex Offers®, and experience special events and discounts with American Express Invites®.
• Access to Amex Front Of The Line® presale and reserved tickets.
• To be eligible, $12,000 (individual) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
• Terms and Conditions Apply. Click ‘Apply Now’ for complete details.

Best for: Premium perks and low interest rate

Scotiabank platinum american express® card.

• Earn up to $2,100* in value in your first 14 months, including up to 60,000* bonus Scene+ points. Offer ends October 31, 2024.
• Earn 2X Scene+™ points for every $1 CAD you spend on all your eligible purchases.
• Scene+ points can be redeemed for travel purchase, merchandise and other non-travel rewards such as gift cards and prepaid cards.
• You must redeem a minimum of 5,000 points per travel-related rewards redemption, equivalent to $50 in travel savings. Points must be redeemed within 12 months of the purchase date.
• $399 annual fee.
• Redeem points for any flight, any time through Scene+ Travel, a full-service travel agency. Plus, take advantage of a best price guarantee on airfare.
• Get a Hertz #1 Club Gold membership for special privileges and rental car benefits at over 8,500 locations in 147 countries.
• Enjoy culinary events and experiences, entertainment, luxury fashion, tours, and more through American Express benefits, including American Express Invites, Platinum VIP offers and access to 24/7 premium concierge services for restaurant reservations, show tickets, and gift purchases.
• Lounge access at over 600 VIP airport lounges around the world with a complimentary Priority Pass membership, which includes 10 free visits per year.
• 12 types of insurance provided, including 31-day travel medical benefits — up to $2 million in coverage — for you, your spouse and any dependent children under the age of 65. 10-day coverage available for those over the age of 65.
• Preferred rates: 9.99% for purchases, 9.99% for cash advances.
• To be eligible, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.

Best for: Businesses

Scotiabank passport™ visa infinite business* card.

• $199 annual fee.
• Earn 1.5X the Scene+™* points for every $1 spent on purchases for your business.
• Enjoy no Foreign Transaction Fees whether you make purchases online or outside of Canada.
• Get access to airport lounges with your complimentary Visa Airport Companion Program membership when you fly for your business.
• Use your points for travel, merchandise, gift cards for your business and more.
• $10,000 credit limit minimum, up to $150,000 unsecured.
• Most items purchased with your Card are insured against theft, loss or damage for 90 days from the purchase date and the manufacturer’s warranty is doubled for up to one year.
• Turn business purchases into business savings with Visa SavingsEdge.
• Visa Infinite Benefits with your Card which include Visa Infinite Concierge and the Luxury Hotel Collection.
• Travel Emergency Medical Insurance – Breathe easy with comprehensive coverage Coverage is provided for eligible persons under age 65 for up to 25 consecutive days and for eligible persons age 65 and older for up to 10 consecutive days.

Best for: Airport lounge access

Scotiabank passport™ visa infinite* card.

• Earn up to $1,100+ in value in the first 12 months, including up to 35,000 bonus Scene+ points and first year annual fee waived on your first supplementary card. Offer Ends January 3, 2024.
• The only major bank credit card offering you no foreign transaction fees, including for shopping online or abroad.
• Your Award Winning Card For Travel.
• Earn 2 Scene+ points on every $1 you spend on eligible grocery stores, dining, entertainment purchases, and daily transit purchases (including buses, subways, taxis and more).
• Earn 1 Scene+ point on every $1 you spend on all other eligible purchases.
• You’ll earn 3X Scene+ points for each dollar charged to your account on all eligible purchases¹ at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés TradItIon, Rachelle Béry and Co-Op.
• Airport lounge access through complimentary Visa Airport Companion Program membership, plus six complimentary lounge visits per year from the date of enrollment, providing you with access to 1,200+ airport lounges globally, including participating Plaza Premium Lounges.
• Visa Infinite* benefits including Visa Infinite Concierge, Visa Infinite* Luxury Hotel Collection, Visa Infinite* Dining Series, and Entertainment & Lifestyle Offers.
• Access to Scotia SelectPay™.
• To be eligible, $60,000 (individual) or $100,000 (household) annual income is required, or a minimum assets under management of $250,000. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.

Best for: Prepaid cards

Wealthsimple card.

• General fees and features: Wealthsimple does not charge any fees to use the Wealthsimple Card.
• Currency conversion fee: Mastercard will determine the applicable exchange rate from the range of rates available in wholesale currency markets for the applicable processing date, which may vary from the rate Mastercard itself receives.
• ATM withdrawals: Wealthsimple does not charge any fees for withdrawing cash, but you may see a standard ATM withdrawal fee (usually about $3.00) when you make a withdrawal at an ATM. ATM Withdrawal limits are $500 per transaction and $1,000 per day.
• Reload methods: Add funds to your card by making a deposit via a linked bank account, a wire transfer, your Visa or Mastercard debit card, or an institutional transfer to move an account from another institution.
• Rewards: Earn 1% cash back on eligible purchases. Cash back rewards can go directly into your Spend account, be added to the cash balance of a stock trading or crypto trading account, or be used to auto-purchase the cryptocurrency of your choice in your crypto trading account. Use the card anywhere Mastercard is accepted — in-store, in apps, or online. Pay bills, use direct deposit, and e-Transfer.
• The Wealthsimple Card is available as part of the everyday spending account, which comes with both a digital and physical card that you can manage right from the Wealthsimple app.
• Use the app to manage your rewards and spending preferences, or lock your card if something happens to it. Your balances are all updated in real-time, too — even if you’re using the physical card
• Add your Wealthsimple Card to Apple, Samsung or Google Pay digital wallet.
• Use the Wealthsimple Cash app to send and receive payments to anyone else who uses the Cash app without paying fees. You can also send money to people who don’t have the Cash app yet. They will receive a prompt to download the app and claim the money you sent them.
• Your money is protected for up to $100,000 through CDIC.
• To be eligible, you must be a Canadian resident with a Social Insurance Number of the age of majority in the province or territory where you live.

Methodology: How we evaluate cards

NerdWallet Canada selects the best credit cards based on overall consumer value and their suitability for specific kinds of consumers. Factors in our evaluation methodology include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as airline or hotel perks or the ability to transfer points. Charge cards are not included on this list.

Credit card fees can be confusing to untangle, and foreign transaction fees are no different. Learn how and when they’re applied so the bill from your next international adventure doesn’t include any surprises.  

What is a foreign transaction fee?

When you buy something that’s not in Canadian dollars using your credit card, the issuer typically charges a fee — such as 2.5% of the purchase price. This fee is called a foreign transaction fee.  You may not have noticed it before, since it’s rolled into the total charge that shows up on your statement .

It doesn’t matter if you’re making an online purchase in U.S. dollars from your Canadian living room or paying for dinner out in Istanbul. If the product or service is being sold in a foreign currency, it’s typically subject to fees. Fortunately, there are credit cards that don’t charge foreign transaction fees. However, the card’s network may markup the exchange rate by a small amount.

Visa and Mastercard exchange rate markups

In addition to the transaction fee charged by the issuer, credit card networks typically markup the cost of converting money. For example, the Bank of Canada may list the exchange rate from USD to CAD as 1.35 (for every $1 USD you spend abroad, you’re spending $1.35 CAD). But when you use your credit card, the network (e.g., Visa) may be using a slightly marked up rate of 1.36, meaning for every $1 USD you spend, you’re actually spending $1.36 CAD. So, the conversion is costing you slightly more.     

You can use the below calculators from Visa and Mastercard to estimate your total transaction costs. American Express does not post conversion markups for Canada publicly.

Dynamic currency conversion

It’s worth noting that some merchants allow you to choose between the local currency or your home currency, which is known as dynamic currency conversion, or DCC. If you choose to pay in CAD, you’ll pay the exchange rate set by the merchant at that moment, which can be considerably higher than the standard rate. Therefore, it’s often advisable to pay in the local currency. 

How to calculate foreign transaction fees

While most credit cards charge a foreign transaction fee of around 2.5%, some can be higher. You’ll have to check your credit card terms and conditions for the specific fee you’ll be charged. 

To calculate how much you’re paying in FX fees, follow the below steps: 

• Convert the amount you’re spending to Canadian dollars using the most up-to-date exchange rate. (If you want a more accurate calculation, you can use the currency exchange rate issued by your credit card network).  
• Divide that figure by 100. 
• Then multiply it by the transaction fee.

Let’s do the math

Let’s say you’re visiting the United States and you want to pay for a meal that costs $50 USD, and your card’s foreign transaction fee is 2.5%. Assuming your credit card’s network’s current exchange rate for USD to CAD is 1.35, here is how the calculation works out:

• $50.00 USD x 1.35 = $67.50 CAD
• $67.50 / 100 = $0.675
• $0.675 x 2.5 = $1.69

The foreign transaction fee for this purchase would be $1.69. And your total would be $69.19 CAD.

Should I use a U.S. dollar credit card?

If the majority of your purchases are in American dollars, credit cards like the BMO U.S. Dollar Mastercard or Roger’s World Elite Mastercard can be handy, as U.S. purchases earn a higher reward rate. However, a foreign transaction fee will still apply. 

You also need to consider how you’ll pay your monthly credit card bills . A U.S. dollar credit card may require you to pay your bill in USD. If you don’t have a steady stream of U.S. income, you’ll need to convert your Canadian dollars to USD before you can pay your bills — which also comes with fees.

Although paying a 2.5% conversion fee may not seem like a lot, it can add up over time. If you travel frequently and plan to make more than a few sporadic purchases in foreign currencies, consider getting a ‘no foreign transaction fee’ credit card to help you keep costs down.

About the Author

Georgia Rose is a lead writer on the international team at NerdWallet. Her work has been featured in The Washington Post, The New York Times, The Independent and The Associated…

DIVE EVEN DEEPER

23 Best Credit Cards in Canada for April 2024

NerdWallet Canada’s picks for the best credit cards include top contenders across numerous card categories. Compare these options to find the ideal card for you.

Interest charges don’t need to be a mystery. Use our credit card interest calculator to see how much interest you’d owe if you carry a credit card balance.

A Guide to Common Canadian Bank Fees and Charges

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The best no foreign transaction fee credit cards in Canada for 2024

If you’re a frequent traveller or online shopper, you could save a lot of money by using a no FX fee card on your next trip.

No foreign transaction fees, plus airport lounge access (with 6 annual passes). Get $25 gift card upon approval with Ratehub.ca.

No annual fee, no foreign transaction fees and earn 1% cash back on all Canadian purchases.

No forex fees, and earn 5x the points on groceries and dining in Canada. Get an $80 gift card upon approval with Ratehub.ca.

MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers.  Learn more about our advertising and trusted partners .

By Keph Senett and Winston Sih on April 2, 2024 Estimated reading time: 15 minutes

Canadians love travel and shopping, but when using their credit cards outside of Canada, many pay foreign transaction fees—as much as 2.5%—on every purchase. The good news is there’s a good selection of credit cards for Canadians that either offer no foreign transaction fees or reward with more than enough cash back to cover the fees.

Best no forex cards with no annual fee

At a glance: The Home Trust Preferred Visa is a true no-foreign-exchange-fee card that also charges no annual fee. This means it waives the forex on purchases in all foreign currencies, not just U.S. dollars.

Home Trust Preferred Visa

• Annual fee: $0
• Earn rates: 1% on all purchases in Canada and pay no FX fees on foreign currency purchases
• Welcome offer: You can earn 1% cashback on eligible purchases in Canada, with no caps on cashback earn.
• Annual income requirement: None
• Recommended credit score for approval: 660 or higher
• Interest rates: 21.99% on purchases, 21.99% on cash advances
• Earn 1% cash back on everything you buy in Canadian dollars with no limits on how much you can earn.
• Like most no-fee cards, it comes with basic perks like zero liability policy insurance and purchase security insurance
• You won’t earn any cash back on purchases made abroad in a non-Canadian currency, which is a slight drawback but remember: you also won’t pay foreign transaction fees which means you’ll still end up saving a considerable to 2.5% when using this card abroad versus most other cards.
• Cash back is only redeemed once annually in January (as opposed to anytime of the year).

At a glance:  With much higher earn rates than most no-fee cards, the Rogers World Elite Mastercard actually nets you cash back on purchases in U.S. dollars. However, demanding personal income levels and spending requirements make this card inaccessible to some applicants.

Rogers World Elite Mastercard

• Annual fee:  $0
• Earn rate:  1.5% cash back on all purchases; 3% cash back on all U.S.-dollar purchases
• Welcome bonus: You can earn $25 welcome bonus in cash back rewards upon first card purchase within 3 months of receiving your card.
• Annual income requirement:  Personal income of $80,000 or household income of $150,000
• Recommended credit score for approval: 725 or higher
• Interest rates: 19.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
• The card earns an impressive 1.5% cash back on everything you buy, a rate more often seen in cards with an annual fee. 
• As a Mastercard, it is arguably the best card to use at Costco because it offers a flat 1.5% cash back on purchases at the retailer.
• The Rogers World Elite Mastercard earns an accelerated 3% cash back on purchases made in U.S. dollars, which offsets the roughly 2.5% foreign transaction fee, making this an ideal card for snowbirds or anyone who regularly travels to the United States.
• You can redeem your cash back rewards anytime, in increments of $10, using the Rogers app.
• Despite being a no-fee card, the Rogers World Elite Mastercard gives you benefits like rental car collision damage coverage and travel insurance.
• Unlike “true” no-foreign-transaction-fee credit cards which help you save on all non-Canadian currency purchases, the Roger World Elite Mastercard will only help you avoid foreign transaction fees on purchases made in U.S. dollars.
• A glaring drawback of this card is that you must charge at least $15,000 in purchases on the card every 12 months or you are automatically downgraded to the entry-level Rogers Platinum Card that earns a less impressive 1% cash back on everything.
• You’ll need an income of at least $80,000 per year (or $150,000 per household) to qualify for the card—the highest income requirement on our ranking of best no foreign transaction fee credit cards.

Best no forex cards for rewards and perks

At a glance: As the first card from one of Canada’s big banks to waive its foreign transaction fees, the Scotiabank Passport Visa Infinite offers strong rewards, an easy-to-understand and flexible rewards system, and seriously impressive airport lounge benefits.

Scotiabank Passport Visa Infinite

• Annual fee: $150 (waived for the first year)
• Earn rate : 3 Scene+ points per $1 spent at Sobeys stores; 2 points per $1 on groceries, dining, entertainment and transit; 1 point per $1 on everything else. Plus, pay no FX fees
• Welcome offer: earn up to $1,300 in value in the first 12 months, including up to 40,000 bonus Scene+ points and first year annual fee waived. Offer ends July 1, 2024.
• Annual income requirement: Personal income of $60,000 or household income of $100,000
• Point value: 1 Scene+ point = $0.01 when redeemed for travel, store purchases and food and drink at Cineplex and Scene partners
• Recommended credit score   for approval : 700 or higher
• Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
• The Scotiabank Passport Visa Infinite is the only no-forex-fee card in Canada to also offer airport lounge access . With this card, you’ll receive a complimentary Priority Pass membership with six free airport lounge visits per year; that’s the most lounge passes available on a card with an annual fee below $200.
• Redeeming Scene+ points for travel rewards is intuitive and as easy as cash back in your wallet. There are no complicated travel charts or maps (1,000 points is always worth $10 in travel savings wherever you travel).
• Scotia’s Scene+ points are extremely flexible. You can redeem points using Scotia’s travel agency or apply points on any travel purchase from virtually any airline or hotel provider up to 12 months later (even for travel purchases booked through Google Travel and Airbnb).
• The Scotiabank Passport Visa Infinite rewards high-volume spenders. Every year that you charge $40,000 or more, you’ll earn an additional 10,000 bonus points ($100 value toward travel).
• This card offers a full range of travel insurance benefits including travel emergency medical insurance, trip cancellation/trip interruption insurance and more.
• While the Scotiabank Passport offers considerable perks, its annual fee is $150, which is among the highest on this list.
• Perks aside, the card’s rewards on everyday purchases in Canada—1 or 2 points per $1 on most purchases—isn’t all that impressive for a premium annual-fee card, even when compared to other Scotiabank credit cards on this list.
• You’ll need to earn an income of at least $60,000 (or $100,000 as a household) to qualify.

At a glance: The Scotiabank Gold American Express has an impressive everyday earn rate, especially on food and transit. Combined with its lack of foreign transaction fees, this card is not just one of the best no-forex-fee cards but one of the best overall rewards cards in Canada.

Scotiabank Gold American Express

• Annual fee: $120 (waived for the first year)
• Earn rates: 6 points per $1 spent at Sobeys-affiliated stores; 5 points per $1 on dining, entertainment and groceries; 3 points per $1 on gas, transit and streaming; 1 point per $1 on everything else
• Welcome offer: You can earn up to $650 in value in the first 12 months, including up to 40,000 bonus Scene+ points. Must apply by July 1, 2024.
• Annual income requirement: $12,000
• This credit card’s earn rate is seriously impressive, with an outstanding 5 points on groceries and dining, and 6 points when you shop at Sobeys-affiliated stores.
• Scene+ points are flexible, easy to use and good for up to 12 months after you make a travel purchase, which means you can book when you want and reap the rewards later.
• Redeem for travel in easy increments of 1,000 points (valued at $10). There are no complicated rules or exceptions to manage, and you will get the same value no matter where you go.
• Scotia’s definition of travel is extremely broad so you can redeem for purchases even at Uber, UberEats and Airbnb.
• The Scotiabank Gold American Express offers a full range of travel insurance benefits, including travel emergency medical coverage, trip cancellation/trip interruption insurance and more.
• This card comes with Amex Experience perks. Amex grants early access to presale tickets to a wide range of events (including concerts and sports events), while Amex Offers get you additional discounts and savings on a rotating roster of retailers.
• The card’s minimum income requirement is $12,000, making it accessible to most Canadians.
• While American Express is accepted at thousands of locations across Canada, there are some notable exceptions. For example, Loblaws doesn’t accept Amex and you might not be able to use this card at some smaller independent shops, groceries, convenience stores and restaurants. Depending on where you’re travelling, Amex acceptance may be even more limited.
• When you buy in a foreign currency, you only earn points at the base rate. This means, for example, that if you buy groceries in a foreign currency, the foreign-transaction fee will be waived but you will only earn 1 point per $1 spent rather than the 5 points usually offered in the grocery category for purchases in a Canadian currency.

At a glance:  This is a competitive mid-tier credit card with a below-average annual fee, offering impressive travel insurance and bonus points on non-Canadian purchases which will help you save on foreign transaction fees. 

Meridian Visa Infinite Travel Rewards 

• Annual fee: $99 (waived for the first year)
• Earn rate: 1.5 points per dollar; 3 points per dollar on purchases made in foreign currencies
• Welcome offer: Earn 6 points per $2 spent on purchases made outside Canada in foreign currencies, and 3 points per $2 on all other purchases.
• Points value: 1 point = $0.01 when redeemed for travel
• Interest rates: 19.50% on purchases, 21.99% on cash advances
• The 3 points per $1 earn rate on foreign purchases means you’ll net roughly 0.5% back on anything in a non-Canadian currency (after offsetting foreign transaction fees).
• The strong base rate of 1.5% on Canadian purchases means you’ll earn an above-average return on all purchases, regardless of the category.
• The annual fee for the Meridian Visa Infinite Travel Rewards card is only $99, which is less than many comparable cards on this list with no foreign transaction fees.
• The travel coverage on the Meridian Visa Infinite Travel Rewards card is outstanding and includes up to $5,000,000 in emergency travel coverage for up to 48 days, which manages to beat out travel coverage offered by even the best travel credit cards.
• While many credit card travel insurance benefits only apply to those 65 and older, the emergency travel insurance coverage on the Meridian Visa Infinite Travel Rewards credit card applies to those up to 75 years old.
• This card offers no bonus categories, so it may not be the best rewards structure for those who spend big in common categories like groceries, gas or recurring bills.
• Rewards points can’t be used to offset the cost of airline taxes or surcharges.
• The income requirement makes it out of reach for some Canadians.

At a glance: Attention Amazon shoppers—which means, listen up to pretty much everyone. The Amazon.ca Rewards Mastercard is a no-fee retailer credit card. So if you are a Prime member and order from amazon.ca, you can earn 2.5% for Amazon rewards points using the card.

Amazon Rewards Mastercard

• Annual fee: $0 (Prime subscription required for full card benefits)
• Earn rate: Prime members earn 2.5% on Amazon.ca and foreign currency transactions. Non-Prime members earn 1.5% back on Amazon.ca. Get 1% everywhere else
• Welcome offer: 5% back at Amazon.ca, Whole Foods Market stores for 6 months up to $3,000 in eligible purchases (for a value of $150)
• Income requirement: None specified
• Points value: Rewards come in the form of points which can be redeemed for Amazon.ca gift cards (1 point is worth 1% cash back savings off Amazon purchases)
• If you’re an Amazon Prime Member, any foreign currency purchase made with the Amazon.ca Mastercard will earn you 2.5% in Amazon points (which effectively acts to offset the foreign transaction fee).
• Amazon points are extremely easy to understand: 1% in Amazon.ca rewards points is 1 cent that can be used towards an Amazon gift card.
• Regular Amazon shoppers can earn lucrative savings with 2.5% savings on Amazon.ca (if you’re a Prime Member) and 1% on all other Canadian purchases.
• While technically a no annual fee credit card, the boosted  2.5% earn rate on foreign purchases is available exclusively to cardholders who also have a Prime membership ($99 year). If you’re not a Prime Member, you’re out of luck and have to pay the annual fee.
• Non-Prime members will also earn fewer rewards on Amazon.ca purchase (1.5% versus the 2.5% afforded to Prime members).
• As a retail card, naturally you’re restricted to redeeming rewards only on Amazon purchases by redeeming for Amazon.ca gift cards.

Best no forex fee credit card alternative

At a glance: OK, OK, this isn’t a credit card, but a prepaid debit card. Still, the EQ Bank Card can help you avoid costly fees when you’re withdrawing or spending money in a foreign currency by waiving all foreign exchange fees charged by EQ (transactions are still subject to Mastercard’s currency conversion rate). This is a great back-up card for those purchases where credit cards aren’t accepted.

EQ Bank Card

• Annual fee: None
• Earn rate: 0.5% cash back on all your spending
• Welcome offer: This card does not currently have a welcome offer.

This is a prepaid Mastercard, not a credit card. You will be using your own cash.

• Recommended credit score for approval : No credit check required
• Interest rates: None
• Preload this card with money so you always have access to cash.
• Earn 0.5% cash back on purchases plus interest on your deposits.
• Pay no fees, including foreign exchange.
• EQ Bank is an online bank, which means you can’t visit brick and mortar branches for in-person support, though support is available online.
• To access your cash, you have to preload the card by transferring funds from your savings account. You’ll be fine as long as you plan ahead and remember to do this.

How we determine the best cards

The MoneySense editorial team selects the best credit cards by assessing the value they provide to Canadians across various categories. Our best no foreign transaction fee credit cards ranking is based on an extensive list of card details and features—with a focus on those that matter to international travellers and shoppers—including foreign transaction fees, annual fees, interest rates, welcome offers, rewards earn rates and redemption options, annual income requirements, and perks such as insurance coverage and purchase protection. We have also considered the pros and cons of each card to help you determine which ones best suit your financial needs. Our rankings are an unbiased source of information for Canadians. The addition of links from affiliate partners has no bearing on the results. Read more about how MoneySense makes money .

A credit card conversion rate is a surcharge you pay for purchases in a foreign currency. These rates are set by your credit card network such as American Express, Visa and Mastercard. These rates are usually pretty close to market rates, but they’re often better than what you’d get at a currency exchange. You can find the conversion rate for your card in your credit card agreement. 

Should you pay using local currency or converted currency?

Sometimes, you’ll be given the option to pay in a local currency or have the price converted to your home currency. In general, it’s in your financial interest to buy in the local currency, because converting to another currency can incur fees that are tacked onto the purchase price. This is true whether or not you are using a card that charges transaction fees, so in either case, you’ll be saving money by keeping the currency local. 

What if using my no foreign transaction fee credit card isn’t an option while I’m abroad?

Using a no foreign transaction fee credit card is great–until you want to make a purchase from a business that doesn’t accept credit cards. It’s always smart to carry some cash on you just for these occasions, but withdrawing money from an ATM can also come with costly fees. One good solution is to use a debit card that doesn’t charge foreign transaction fees, like the EQ Bank Card . Note that while your card might waive the fees, the ATM probably won’t. Also be aware that using a credit card to withdraw cash from an ATM incurs the highest fees of all and should be avoided except for emergencies. 

Frequently asked questions

The fee (typically 2.5%) charged by many credit cards for purchases you make in a foreign currency might not seem like much, but it can add up quickly. To be clear: The fee is applied to every purchase made in a currency that’s not Canadian dollars—even when you shop online. For context, that’s $25 in transaction fees for every $1,000 you spend on your card, and you have to pay the exchange rate as well.

The foreign transaction fee is an additional charge added on top of the current exchange rate. Exchange rates are determined by the credit card companies, using the up-to-date value of the Canadian dollar and the value of whichever currency you’re converting to. 

Your foreign transaction fee will vary according to which credit company you choose, so it’s worth it to look into the various options if you’re a frequent traveller or you often find yourself shopping in another currency. Ultimately, choosing a credit card with no foreign transaction fee—or one which offers a rebate on foreign transaction fees—is one of the best ways to save money when shopping in a foreign currency. 

As long as credit cards are widely accepted at your destination, you can avoid taking out large amounts of cash at currency exchange kiosks, airports or ATMs. Plus, purchasing with your card helps you earn rewards on every dollar spent, you get purchase protection and PIN protection, and you can easily cancel your card if it’s stolen while you’re abroad.

More of Canada’s best credit cards :

• Best travel credit cards in Canada
• Best cash back credit cards in Canada
• Best low-interest credit cards in Canada
• Overall best credit cards in Canada
• Best travel insurance credit cards in Canada

Table of contents

• The best cards at a glance
• The best cards in more detail
• About no FX fee cards
• Check out: The best travel credit cards in Canada

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Best Business Credit Cards of April 2024

Best business cards main takeaways.

• Business credit cards can keep business and personal expenses separate, simplifying bookkeeping and tax filing.
• Money has vetted hundreds of credit cards, considering their annual fees, redemption options, insurance coverage and more.
• Our picks for the top business cards offer rewards in popular bonus categories, like gas, travel and dining, and other benefits, such as free employee cards.

Money.com has partnered with CardRatings.com for our coverage of credit card products. Money and CardRatings may receive a commission from card issuers. This site does not include all card companies or all available card offers.

Why Trust Us?

During the evaluation process, our editors and writers verify current offers from credit card issuers. Additionally, we delve into each card's fine print to analyze their features and potential value. We review cards independently, ensuring our content is accurate and guided by editorial integrity. Read the full methodology to learn more.

• 44 business credit cards evaluated
• 10+ data points used, including ongoing fees, reward programs and welcome offers
• 100+ sources reviewed

Our Top Picks for the Best Business Credit Cards

Our top picks are listed in alphabetical order.

• American Express® Business Gold Card – Best Business Card for Flexible Reward Categories
• Bank of America® Business Advantage Customized Cash Rewards Mastercard® Credit Card – Best Business Card for Customizable Rewards
• Bank of America Business Advantage Unlimited Cash Rewards Mastercard® Secured Credit Card – Best Business Card for Bad Credit
• Capital One Spark 1% Classic – Best Business Card for Fair Credit
• Capital One Spark Cash Plus – Best Cash Back Business Charge Card
• Capital One Spark Cash Select for Excellent Credit – Best Flat-Rate Cash Back Business Card With No Foreign Transaction Fees
• Capital One Venture X Business – Best Business Travel Credit Card
• Ink Business Cash® Credit Card – Best No-Annual-Fee Business Credit Card for Office Expenses
• Ink Business Preferred® Credit Card – Best Small Business Credit Card
• Ink Business Premier® Credit Card – Best Business Credit Card for Large Purchases
• Ink Business Unlimited® Credit Card – Best Flat-Rate Cash Back Business Card
• The American Express Blue Business Cash™ Card – Best Cash Back Business Card With No Annual Fee
• The Blue Business® Plus Credit Card from American Express – Best No-Annual Fee Business Credit Card for Everyday Spending
• The Business Platinum Card® from American Express – Best Business Travel Card for Luxury Perks
• U.S. Bank Triple Cash Rewards Visa® Business Card – Best Cash Back Business Credit Card With No Annual Fee​

Best Business Credit Cards Reviews

Best business card for flexible reward categories.

• Offers high rewards on gas, transit, U.S. restaurants and more
• No preset spending limit gives more spending flexibility (Terms apply)
• Includes car rental, trip delay and baggage insurance*
• Statement credits are worth only 0.6 cents per point
• $375 annual fee
• $150,000 annual cap on the card's 4x bonus category

Terms apply. Click here for applicable rates and fees.

Read our review

Who it’s best for: The American Express® Business Gold Card is the best business card for those who prefer flexible spending categories that adapt to your monthly spending habits.

What we like: This card offers a high reward rate in the two categories (from a list of six) where you spend the most each month. It automatically adjusts to your spending habits without the need to opt in or pick your preferred categories each month.

What we don’t like: This is a charge card, so you have to pay your balance in full each month. However, note that some eligible purchases can be paid over time. (Terms apply.) It also has a high annual fee of $375, so it’s best to pick another business card if your spending doesn’t align with its bonus categories.

Best business card for bad credit

• Earn 1.5% cash back on every eligible purchase
• No annual fee
• Complimentary access to Dun & Bradstreet business credit score
• Security deposit required
• No bonus categories
• No introductory bonus or APR period
• Offers less redemption options than other cards

You'll earn 3% and 2% cash back only on the first $50,000 in combined purchases between your chosen category and dining each calendar year, 1% thereafter.

Who it’s best for: The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® Secured Credit Card is a great option for business owners aiming to build or repair their credit.

What we like: This card requires a $1,000 minimum security deposit that acts as collateral if you ever fail to make the monthly payments, making it easier to qualify for. Additionally, the card offers travel perks like $100,000 in travel accident insurance, auto rental insurance, emergency ticket replacement, lost luggage assistance and legal and medical referrals while traveling. It also provides free access to your Dun & Bradstreet business credit score, so you can easily track your progress.

What we don’t like: The card doesn’t offer a welcome bonus or an introductory APR period. You also get fewer redemption options (statement credit, a check or a deposit into your Bank of America® checking or savings account) than other business cards.

All information about the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® Secured Credit Card has been collected independently by Money.com.

Best business card for customizable rewards

• Earn 3% cash back on the first $50,000 in in your chosen bonus category each calendar year (1% thereafter)
• Earn up to 75% more cash back on eligible purchases if you're a Bank of America business checking account holder and qualify for Preferred Rewards for Business Platinum Honors
• Bonus categories have a combined annual spending cap of $50,000
• 3% foreign transaction fee

You’ll earn 3% and 2% cash back only on the first $50,000 in combined purchases between your choice category and dining each calendar year, 1% thereafter.

Who it’s best for: The Bank of America® Business Advantage Customized Cash Rewards Mastercard® offers reward customization capabilities that are quite uncommon, making it a great choice for those who want more control over their bonus categories.

What we like: This card lets you choose your top-earning category from a list of six options, and you can change your pick as often as once a month. So, if you plan ahead, you could maximize your cash back. For example, you could set travel as your preferred bonus category before a business trip and earn 3% back on the flight ticket and rideshare services (like Uber). Additionally, the card features perks such as travel accident and auto rental insurance.

What we don’t like: The card’s 3% and 2% cash back rates are limited to the first $50,000 spent in combined purchases yearly. Once you reach the cap, you’ll only earn 1% back.

All information about the Bank of America® Business Advantage Customized Cash Rewards Mastercard® Credit Card has been collected independently by Money.com.

Best business card for fair credit

• No foreign transaction fees
• 5% cash back on select travel purchases through Capital One Travel
• Earns only 1% cash back on most purchases
• Doesn't include perks or travel protections

Who it’s best for: While most of the best business credit cards require good or excellent credit, the Capital One Spark 1% Classic is available for business owners with a limited credit history or those with fair scores.

What we like: This card is a solid option for those who need to build or improve their credit. And while it’s a starter business credit card with few perks, it doesn’t charge foreign transaction fees, which other no-annual-fee cards charge.

What we don’t like: The card doesn't offer a welcome bonus or many benefits. So, if you have a good or excellent credit score, you're better off with one of the other top small business credit cards on our list.

All information about the Capital One Spark 1% Classic has been collected independently by Money.com. It has not been reviewed or provided by the issuer.

Best 2% cash back business charge card

• 2% flat reward rate on all eligible business purchases
• Get your $150 annual fee refunded (as a statement credit) each year you spend at least $150,000
• No preset credit limit
• $150 annual fee
• Few extra benefits
• Balance must be paid in full each month

Who it’s best for: The Capital One Spark Cash Plus lets you earn unlimited 2% cash back on every purchase, with no caps or category restrictions.

What we like: This cards comes with no preset spending limit. The limit changes based on your spending behavior, payment history and credit profile. This can give business owners with excellent credit more spending flexibility. Also, you can get the card’s $150 annual fee refunded (as a statement credit) if you spend at least $150,000 in a year.

What we don’t like: Since this is a charge card, you must pay your balance in full each month or else you’ll get charged late fees and your account will be considered past due — unlike standard credit cards that let you accrue a balance as long as you make a minimum monthly payment. The card also has fewer benefits than similarly priced business cards.

Best flat-rate cash back business card with no foreign transaction fees

• Unlimited 1.5x cash back for your business on all purchases
• 5% cash back on hotels and rental cars booked through Capital One Travel
• No yearly spending caps
• No annual or foreign transaction fees
• Few additional perks
• No direct deposit redemption option

Who it’s best for: The card_name offers unlimited cash back with a higher base reward rate than most no-annual-fee business cards and with no foreign transaction fees.

What we like: Not only do you earn an unlimited 1.5% cash back on most eligible purchases for your business, you can earn 5% cash back on hotels and rental cars booked through Capital One Travel. Additionally, the card doesn’t charge any foreign transaction fees, while most business cards without annual fees charge around 3% on transactions processed outside of the U.S.

What we don’t like: The card’s bonus categories are limited, so those who spend a lot on travel, office supplies and other business-centered categories can miss out on rewards. Also, you can only redeem your cash back as a statement credit or check.

Best business travel credit card

• Annual $300 credit for bookings through Capital One Travel
• 10,000 bonus miles every year (starting on your first anniversary)
• Access to over 1,000 airport lounges worldwide
• Up to $100 credit for Global Entry or TSA PreCheck(R) (when you use the card)
• High annual fee ($395)
• Outstanding balance must be paid in full every month

Who it’s best for: The Capital One Venture X Business is an obvious choice for business owners seeking valuable travel benefits and a straightforward rewards program for an affordable annual fee.

What we like: You’ll earn travel rewards from day-to-day spending without the hassle of tracking spending categories or limits. To add to its appeal, the card provides several premium travel benefits at a reasonable cost, including:

• $300 annual travel credit for bookings through Capital One Travel
• Up to a $100 statement credit for Global Entry or TSA PreCheck®
• Complimentary Priority Pass™ for access to 1,300+ airport lounges

What we don’t like: Because it’s a business charge card, your bill is due in full every month. Also, this card’s rewards are rather narrowly tailored for travel, so it isn’t the best option for those who want a variety of reward categories.

Best no-annual-fee business credit card for office expenses

• Includes primary rental car coverage
• High rewards rate for office supplies, cable, internet and phones services and more
• Redeem for statement credits, checking account deposits, gift cards, travel purchases and more
• $25,000 spending cap on bonus categories
• Foreign transaction fees

Who it’s best for: The Ink Business Cash® Credit Card is a solid no-annual-fee business credit card for small business owners who spend big on office supplies and cable, internet and phone services.

What we like: The Ink Business Cash® offers flexible redemption options. While it's advertised as a cash-back credit card, it actually earns Chase Ultimate Rewards® points. These are worth around one cent each and can be redeemed for statement credits, checking account deposits, gift cards, travel purchases and more. You can also transfer your points to other cards that earn Chase Ultimate Rewards® points, even if they’re not business cards.

What we don’t like: This card is not the best choice for businesses with high operational costs. Businesses that spend more than $25,000 each year in this card’s reward categories might get more value from a card with higher spending caps, like the Chase Ink Business Preferred®.

Best small business credit card

• Get bonus points for airfare, hotels, rental cars and more booked through any platform
• Points are worth 25% more when you redeem for travel through Chase TravelSM portal
• Can transfer your points to over 10 travel partners
• $150,000 annual cap on bonus rate might be low for some businesses
• $95 annual fee

Who it’s best for: The card_name is ideal for small businesses that spend often on travel and common business expenses, like shipping purchases.

What we like: The card offers valuable travel redemption options when you book through the Chase Chase TravelSM portal. When you use the portal, your points will be worth 1.25 cents apiece (instead of the usual one cent), and you can transfer your points to over 10 airline and hotel partners, including Jetblue, United and Marriott. The card also includes trip cancellation and interruption insurance, primary rental car coverage and cell phone coverage.

What we don’t like: If your operational costs exceed $150,000 early in the year, you might do better with a card without annual caps, like the Ink Business Premier®.

Best business credit card for large business expenses

• Solid cash-back potential for businesses that often make purchases of $5,000 or more
• Includes travel protections like primary auto rental and trip cancellation/interruption insurance
• Cell phone protection plan for all devices listed on your monthly bill
• Offers more spending flexibility than a traditional charge card
• $195 annual fee
• Can't combine your rewards with other Chase cards
• Rewards can't be transferred to travel partners
• Purchases that don't qualify for Flex for Business must be paid in full every month

Who it’s best for: The Ink Business Premier® Credit Card is an excellent option for larger businesses that need the spending power a charge card can offer.

What we like: This card offers outstanding earning potential for businesses that make frequent large purchases of $5,000 or more. Also, while it’s a charge card that needs to be paid fully each month, the Flex for Business feature lets you pay qualifying purchases of $500 or more over time with interest (up to a set credit limit). This makes the card more flexible than similar charge cards.

What we don’t like: Some might consider it a hassle to track which transactions must be settled by the end of the month and which can be paid over several months. Also, unlike with other Chase business cards, you can't transfer your points to travel partners or other Chase cards.

Best flat-rate cash back business credit card with flexible rewards

• Unlimited 1.5x points on purchases made for your business
• Primary rental car insurance

Who it’s best for: The card_name is an excellent option for business owners who prefer a simple earning structure and flexible redemption options.

What we like: This card offers unlimited 1.5% cash back on most purchases and lets you transfer your rewards to other cards that earn Chase Ultimate Rewards® points, such as the Chase Ink Business Preferred® Credit Card. This makes it a great addition to your wallet if you already own other Chase credit cards. Also, you can redeem your cash back for statement credits, account deposits, gift cards, travel purchases and more.

What we don’t like: The Ink Business Unlimited® Credit Card doesn’t offer any additional bonus categories, and it’s not a good option for international travelers since it charges a 3% foreign transaction fee.

Best cash back business card with no annual fee

• High flat reward rate for most purchases
• Access to Expanded Buying Power feature lets you spend above your credit limit (Terms apply)
• You can only redeem your cash back earnings as a statement credit
• Annual cap on bonus category

Who it’s best for: The American Express Blue Business Cash™ Card is an excellent choice for business owners who prefer a simple cash-back rate and automatic redemptions.

What we like: Business owners can earn cash back on most everyday purchases without being limited to bonus categories. Also, your cash back is automatically redeemed as a statement credit at the end of each billing cycle, making the card even easier to use.

What we don’t like: You can’t redeem your cash back for account deposits, checks, travel or gift cards, like with other business credit cards.

Best no-annual fee business credit card for everyday spending

• Earns 2 points per dollar on eligible business purchases (up to $50,000 per year)
• Can transfer your points to 16 travel partners
• Access to Expanded Buying Power that lets you spend above your credit limit (Terms apply)
• Secondary auto rental coverage***

Who it’s best for: Consider The Blue Business® Plus Credit Card from American Express if you want to earn high rewards on most purchases without being limited by bonus categories. (Terms apply.)

What we like: You can redeem your points for travel bookings or transfer them to one of the issuer’s airline and hotel partners, which include Delta, Jetblue and Hilton. Also, this card features Expanded Buying Power, which lets you spend above your credit limit up to a certain amount. (Terms apply.)

What we don’t like: This card is not ideal if you'd like to redeem your points for statement credits as points are valued at 0.6 cents per dollar when used this way.

Best business card for luxury perks

• Comprehensive travel insurance*
• Transfer points to 16 travel partners, including Delta and Marriott
• Airport lounge access in more than 1,400 locations worldwide (enrollment required)
• $695 annual fee
• Car rental insurance is secondary**

(Terms apply. Click here for applicable rates and fees.)

Who it’s best for: The Business Platinum Card® from American Express is an excellent business and travel rewards credit card featuring an extensive list of benefits that few other cards can match, making it a no-brainer for frequent travelers.

What we like: The card provides yearly statement credits for purchases made at Dell, Indeed, Adobe and/or U.S. wireless telephone providers. (Enrollment required.) It also features several statement credits that make it an excellent travel credit card, including:

• Up to $200 per year in airline fee credits to cover checked bags, in-flight refreshments and other incidental fees charged by the airline to your Business Platinum Card® (must select a qualifying airline)
• $100 credit for Global Entry or $85 for TSA PreCheck® (every 4 or 4.5 years, respectively) when you use your Business Platinum Card® to enroll
• Up to $189 for CLEAR® Plus membership once per year (subject to auto-renewal) when you pay for membership using your Business Platinum Card®
• Access to over 1,400 airport lounges worldwide (enrollment required for Priority Pass™ Select)
• Terms apply

What we don’t like: The Business Platinum Card® from American Express has one of the steepest annual fees ($695) in the market. However, it's well worth it if you travel enough to take advantage of its extensive list of benefits.

Best cash back business credit card with no annual fee​

• No yearly caps on cash back earned
• Unlimited 3% cash back on eligible purchases at gas and EV charging stations, office supply stores, cell phone service providers and restaurants
• Annual $100 statement credit for recurring software subscription services

Who is it best for: The U.S. Bank Triple Cash Rewards Visa® Business Card is a great option for business owners who spend a lot on gas and EV charging stations, as well as restaurants.

What we like: You get unlimited 3% cash back on popular spending categories (gas, EV charging stations, office supply stores, cell phone service providers and restaurants). Additionally, you get a yearly $100 statement credit after you make 11 consecutive monthly purchases with an eligible software service provider, such as FreshBooks or QuickBooks.

What we don’t like: The card offers few benefits and redemption options compared to similar no-annual-fee business cards. For example, it doesn’t include rental car insurance and you can’t redeem your cash back for travel bookings.

All information about the U.S. Bank Triple Cash Rewards Visa® Business Card has been collected independently by Money.com.

Business Credit Cards Guide

Business credit cards can be valuable financial tools for established businesses, startups, sole proprietorships and even freelancers.

These types of credit cards do more than offer high bonus rewards on business expenses. They give your business greater spending flexibility and offer rewards in often-used categories such as advertising or shipping services.

They also separate your business and personal finances and help you build your company’s credit profile, which can give you access to favorable interest rates and a wider array of financial products.

Read on for an overview of how these cards work and how to choose the best business credit card for you.

What is a business credit card?

Business credit cards are a financial tool designed to help streamline business transactions. They provide business owners with a separate credit line from their personal ones, which can facilitate the tracking of company expenses and tax filing.

They often feature higher credit limits than personal credit cards and business-centric features, such as free employee cards and automated quarterly and year-end summaries. Additionally, these cards typically offer generous rewards for business expenses, including gas, office supplies, phone plans and social media advertising.

How do business credit cards work?

Business credit cards work the same way as personal cards do. They give you access to a revolving line of credit, meaning you can make purchases or take out cash advances up to a certain amount, known as the credit limit.

You’ll receive a monthly account statement disclosing the total amount owed and the minimum amount due. You’ll have to make at least the minimum payment to avoid late fees and keep your account in good standing. However, paying the full balance is preferable to avoid racking up interest charges on the remaining balance.

Pros and cons of business credit cards

• Some cards offer high rewards on business-related spending categories, like office supply stores and internet plans.
• Cards include account and expense management tools, such as year-end account summaries and access to bookkeeping software.
• You can give cards to each of your employees, assign separate credit limits and monitor their spending.
• These cards are available to self-employed individuals, like freelancers and independent contractors.
• Most require a personal guarantee, which means you'll be personally liable for any debt even if the business fails.
• Their highest reward rates are only for business purchases.
• To qualify, the card issuer will look into your personal credit history and credit score. A poor credit history will lower your approval odds.

Types of business credit cards

Here’s a rundown of how the differences between the three main types of business credit cards:

Small business credit cards

Most business cards available online are considered small business credit cards. These generally offer perks and benefits tailored towards small business owners or freelancers that have lower operational expenses than larger companies.

These cards feature reward programs that let you earn points redeemable for cash back, statement credits, travel, gift cards and more — depending on the issuer.

Corporate credit card

Corporate cards are similar to small business ones in terms of reward programs. However, their benefits are typically geared towards larger corporations with a well-established business history, significant revenue and hundreds of employees or more.

A business must be registered as a C Corp or an S Corp to qualify, not as a sole proprietorship or partnership (although some card issuers welcome different types of business structures). Also, the company is responsible for paying the card, not the cardholder directly. This means that approval of the account is based mainly on the company’s finances — unlike small business cards, which take into account an individual’s credit report.

Charge cards

The main difference between a charge card and a small business credit card is that charge cards don’t have pre-set spending limits. Instead, issuers approve each purchase you make with a charge card individually, based on your income, creditworthiness and payment history.

This system gives business owners with excellent credit greater spending flexibility. However, charge cards must be paid in full each month. If you don’t settle the outstanding balance on time, you’ll incur late fees and other penalties, depending on your card’s agreement.

It’s worth noting that some credit card providers allow you to repay select purchases over time, with interest. For instance, certain American Express business cards offer the Pay Over Time feature, which allows for minimum payments on eligible purchases — like a traditional credit card.

Business credit cards vs. personal credit cards

How to get a business credit card.

Before applying for a business credit card, check your credit report for inaccurate or outdated information that might be lowering your credit score — and if you find any, dispute it. (Check out How to Dispute Your Credit Report for more information.)

Once you verify your credit history, these are some of the factors you should consider when looking for a new business credit card:

• Go over your business’s expenses and identify the main spending categories. This can help you narrow your card options to those offering bonus categories that align with your spending habits.
• Check if the card’s bonus categories have quarterly or annual spending caps, which can impact your reward-earning potential.
• Compare cards based on their fees and interest rates. For example, if you travel often, you may want a card that doesn’t charge foreign transaction fees.
• Prioritize the card’s ongoing benefits over its welcome offer. Perks like travel accident insurance and cell phone protection often determine the long-term value of a card, especially if you’ll be paying an annual fee. Also, make sure the card’s features align with your business needs.
• Consider the card’s redemption options. For instance, some cards reduce the value of your points or miles if you redeem them for cash back.

What you need to apply for a business credit card

Most card applications can be completed online in a couple of minutes. Here are some details you’ll likely need to provide during the process:

• Date of birth
• Social Security number
• Home address
• Email address
• Phone number
• Annual income
• Business name and contact information
• Number of employees
• Business type and category
• Legal business structure
• Employer identification number (EIN)
• Estimated revenue
• Monthly expenses

How to get the most out of your business credit card

Here are some tips to get the most out of your card’s rewards program and features:

• Use your card often but wisely. The more you use your card, the more you’ll earn points, miles or cash back rewards you can redeem for account deposits, statement credits, airfare, gift cards and more (depending on your credit card issuer). Having said that, it’s important to stay below your credit limit and aim to pay your monthly bill in full to avoid interest charges.
• Maximize the card’s bonus categories. Make sure you know your card’s bonus categories and use it to make purchases that align with those.
• Take advantage of its benefits . Most cards include benefits such as extended warranties, insurance policies and roadside assistance. If you get a card with travel insurance, use it to pay for your tickets so that you can be reimbursed if any of the events covered by the policy should cause you to miss, cancel or delay your trip. .
• Add employees to your account. Their spending will earn you extra rewards. However, it’s a good idea to set spending limits for their cards to control expenses.
• Make sure you use the introductory offer. For example, if the card has a 0% APR introductory period, you can plan major purchases during these months and carry a balance without incurring interest charges. (Note: you’ll still have to make monthly minimum payments during a 0% APR period.)

Business Credit Cards FAQs

What is the best business credit card, should i get a business credit card, how do you check your business credit score, how to build business credit, what is a good business credit score, which business credit cards report information to personal credit bureaus, how we chose the best business credit cards.

We evaluated dozens of business credit cards based on their rewards rates, ongoing benefits, fees and redemption options.

• Reward programs. We evaluated the rewards programs of each card and considered how their spending categories could help businesses maximize earnings.
• Redemption options. We considered how many redemption options each card offered, such as statement credits, cash back and travel bookings.
• Ongoing benefits. We preferred cards that feature several ongoing benefits, like extended warranty, purchase protection, rental car insurance, travel coverage and more.
• Introductory offers. If some cards had similar bonus rates and benefits, we compared their welcome bonuses and introductory APR offers.
• Annual fee. We considered each card’s annual fee, generally preferring cards with low or no fees. If the card had high annual fees, we evaluated whether its benefits were worth the cost.
• Other fees. We also took into account each card’s APR, foreign transaction and balance transfer fees.

Summary of Money’s Best Business Credit Cards of April 2024

• Capital One Spark Cash Plus – Best 2% Cash Back Business Charge Card
• Capital One Spark Cash Select for Excellent Credit – Best 1.5% Flat-Rate Cash Back Business Card With No Foreign Transaction Fees
• Ink Business Unlimited® Credit Card – Best 1.5% Flat-Rate Cash Back Business Card
• The American Express Blue Business Cash™ Card – Best 2% Cash Back Business Card With No Annual Fee

To see rates and fees for The Blue Business® Plus Credit Card from American Express, please visit this link . Terms apply.

To see rates and fees for The Business Platinum Card® from American Express, please visit this link . Terms apply.

To see rates and fees for the American Express® Business Gold Card, please visit this link . Terms apply.

To see rates and fees for The American Express Blue Business Cash™ Card, please visit this link . Terms apply.

* Insurance disclosures for American Express Cards on this page:

Trip Delay Insurance: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

Global Assist Hotline: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Card Members are responsible for the costs charged by third-party service providers.

Extended Warranty, Purchase Protection, Baggage Insurance Plan: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

Car Rental Loss & Damage Insurance: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

** Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

*** Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

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Canada’s 4 Best No Foreign Transaction Fee Credit Cards

Most Canadian credit cards charge a 2.5% foreign transaction fee on all purchases made in other currencies. Here are the best credit cards in Canada with no foreign transaction fees.

Best Credit Cards with No Foreign Transaction Fees

Best travel credit card with no foreign transaction fees.

• Earn 30,000 Scene+ points upon spending $1,000 in the first three months
• Earn an additional 10,000 Scene+ points upon spending $40,000 in the first year
• Earn 1x 2x Scene+ points on groceries, dining, entertainment, and transit
• Plus, earn 3x Scene+ points on grocery purchases at Sobeys, IGA, Safeway, and FreshCo
• Visa Airport Companion membership with six free lounge visits per year
• Redeem points for statement credit for any travel expense
• Minimum income: $60,000 personal or $100,000 household
• Annual fee: $150 (waived in the first year)

The Scotiabank Passport Visa Infinite Card sets itself apart as a true traveller’s card, offering strong welcome bonus, no foreign exchange fees, and the flexible Scene+ points for all purchases.

Travellers can take comfort in earning points abroad without having to pay FX fees on all their expenses, including hotel stays, eats, drinks, entertainment, public transportation, and more when journeying abroad. You’ll also have no trouble using this card along your travels, thanks to the wide acceptance of Visa cards around the world.

Also, this card comes with a complimentary DragonPass membership and six annual visits to participating airport lounges and restaurants.

You’ll be backed by the card’s suite of insurance coverage, including emergency travel coverage for up to 25 days out-of-province, flight delay insurance, delayed and lost baggage insurance, and more.

It’s always nice when you can extract multiple travel benefits from a single card (and a single annual fee).

If you’re looking to save money abroad, look no further than the Scotiabank Passport Visa Infinite Card.

Best American Express Card with No Foreign Transaction Fees

• Earn  20,000 Scene+ points  upon spending $1,000 in the first three months
• Earn an  additional 20,000 Scene+ points  upon spending $7,500 in the first year
• Earn 6x Scene+ points at Sobeys, IGA, Safeway, FreshCo, and more
• Plus, earn 1x 5x Scene+ points on groceries, dining, and entertainment
• Also, earn 1x 3x Scene+ points on gas, transit, and select streaming services
• No foreign transaction fees
• Enjoy the exclusive benefits of being an American Express cardholder
• Annual fee: $120

The Scotiabank Gold American Express Card is one of the best all-round credit cards in Canada. You’ll earn Scene+ points to the tune of 5% back on groceries, restaurants, and entertainment, 3% back on gas, transit, and streaming services, and 1% back on everything else.

However, it’s worth noting that the card only earns 1% back on foreign purchases, even in the bonus categories. Still, it’s good to earn any amount of rewards when you’re eating abroad.

For a card that you want in your wallet anyway for its peerless earn rates at home, you’ll always have a solid no-FX option when travelling and paying at stores that take Amex.

Best No Fee Credit Card with No Foreign Transaction Fees

• Earn 1% cash back on all transactions in Canadian dollars
• Plus, save money abroad with no foreign transaction fees
• Minimum annual income: $15,000 personal
• No annual fee

If you’d rather not pay an annual fee, consider the entry-level Home Trust Preferred Visa Card instead. It has no annual fee, and earns 1% back on all purchases in Canadian dollars.

Unfortunately, you won’t earn cash back on foreign transactions; however, you’ll still save money that you’d otherwise be charged on a card with foreign transaction fees.

As a card with no annual fee, there aren’t many other notable features to benefit from, aside from saving on foreign transactions. However, if your ultimate goal is to save cash, the Home Trust Preferred Visa Card is your best bet.

Best Business Credit Card with No Foreign Transaction Fees

• Earn 30,000 Scene+ points upon spending $5,000 in the first three months
• Earn 10,000 Scene+ points upon spending $60,000 in the first year
• Plus, earn 1.5x Scene+ points on all purchases
• Priority Pass membership with six free lounge visits per year
• Qualify on the basis of your business financials
• Annual fee: $199

For businesses with a lot of expenses in US dollars or other currencies, the Scotiabank Passport Visa Infinite Business is your best choice.

The card earns a steady 1.5% back in the form of Scene+ points, along with a welcome bonus of 30,000 points, worth $300. Considering that other business credit cards charge a 2.5% foreign transaction fee, and often offer lower rewards rates, you might find immense value in paying the $199 annual fee if your business makes a lot of purchases in a foreign currency.

Not to mention, the card has great travel perks too. You’ll get a comprehensive insurance package, lounge access, car rental discounts, and assorted Visa Infinite benefits.

If you spend a lot of time abroad for your business and need a Visa card, this one’s a fantastic option not only for keeping your rewards up and costs down, but also for boosting your travel experience along the way.

No Foreign Transaction Fee Credit Cards: What You Need to Know

When choosing a credit card with no foreign transaction fees, you should familiarize yourself with what benefits a no-FX credit card can offer, what features to look out for, and how no-FX credit cards can fit into an optimized overall credit card strategy.

Why get a credit card with no foreign transaction fees?

Currency conversion fees are a quick way to chip away at your precious travel budget, whether it’s ATM withdrawals or purchases on your card.

When you’re spending abroad with your credit card, all transactions must be converted from the local currency to Canadian dollars before appearing on your account statement. Most cards levy a 2.5% foreign transaction fee on top of the spot rate.

For example, let’s say a purchase priced at $75 (USD) converts to $100 (CAD). Ultimately it’ll be charged as $102.50. Instead, cards with no foreign transaction fees will convert transactions to Canadian dollars at the mid-market rate (as set by the bank or payment network), without a surcharge – in that case, you’d only be charged $100.

Cards without these fees are indispensable for travellers, as they effectively represent a 2.5% discount on all of your spending while travelling out of the country.

They’re also useful at home. If you do any online shopping at retailers based outside of Canada who charge prices in other currencies, you’d be subject to conversion fees unless you use one of these cards.

What should you look for in a credit card with no foreign transaction fees?

No foreign transaction fees itself is the obvious feature to look for, but not all of these cards are created equal.

There are a few basic no-fee cards that fit this bill, but the lack of foreign transaction fees is usually their only notable feature.

A select handful of travel-oriented cards have no foreign transaction fees, but it’s hardly the standard in Canada. Don’t assume that all travel cards have this perk, or you’ll be sorely disappointed; indeed, most of the highest-end premium travel cards still impose a 2.5% FX fee.

Beware that not all credit cards earn rewards the same way on foreign transactions.

Some cards, like the Scotiabank Gold American Express Card , earn different rewards rates for foreign currencies. You don’t get a category bonus if the purchase isn’t in Canadian dollars.

Other cards, like the Rogers World Elite Mastercard , can be the opposite: they may actually offer higher rewards on foreign transactions, but don’t waive the conversion fee. The higher rewards are meant to offset the fee.

On these cards, if you have to return an item, you’d be dinged for the conversion twice, once each way, with no rewards to show for it and a total loss of 5%. These cards are much better for daily travel spending, and not for online shopping or souvenir purchases. Instead, a true no-FX card is much more versatile.

What’s the optimal strategy for credit cards with no foreign transaction fees?

No foreign transaction fees is a relatively rare feature on Canadian credit cards. It’s rather frustrating to be dinged an extra 2.5% on all your spending when you’re abroad, so it’s a good idea to leave room for at least one credit card with no foreign transaction fees in your wallet.

Ideally, you’ll want a credit card with no foreign transaction fees that also earns strong rewards on your foreign spending, as well as some useful benefits that you’ll get value out of. Without these, the no-FX benefit on its own can often struggle to justify a card’s annual fee.

For example, the trade-off between the Scotiabank Passport Visa Infinite Card and the Scotiabank Gold American Express Card (both of which have no foreign transaction fees) is that the former has a lower 2% bonus earning rate that also applies on foreign purchases, whereas the latter has higher bonus earning rates of 3% and 5%, but the only apply on purchases made in Canada. Abroad, you’ll only earn 1%.

Depending on how much you travel internationally, you might well prefer the Scotiabank Passport over the Scotiabank Gold Amex, since it’ll be a better partner along your international trips with its higher earning rate, airport lounge benefits, and wider global acceptance on the Visa network.

Alternatively, you may also consider US credit cards, where the lack of foreign transaction fees is much more commonplace on both premium travel credit cards and basic no-fee cards alike. You can use those US cards in Canada, or anywhere else, without additional fees.

However, you’d still have to consider any costs involved in exchanging Canadian dollars to US dollars in order to pay your credit card bill, including fees, the spread, and currency fluctuations.

Either way, a savvy traveller always makes sure they have at least one credit card with no foreign transaction fees on hand for their international trips, tailored towards their foreign spending volume, tolerance for annual fees, and other benefits they might value.

Frequently Asked Questions

Below are some questions we frequently hear from readers about the best credit cards with no foreign transaction fees in Canada.

What will the foreign exchange rate be?

Conversion rates are set by Visa, Mastercard, and American Express. They’re very close to the true mid-market rate, often within tenths of a percent, and are usually much better than most other ways to exchange currency when you travel.

When is the foreign exchange rate determined?

The transaction will be converted to Canadian dollars at the time it is settled and posts to your account, not at the time it was authorized.

Will I get good rates on purchases in all currencies?

For all foreign currencies other than US dollars, credit cards will process two conversions: first from the underlying currency to USD, then from USD to CAD. You may be subject to a negligible spread on both conversions, but no additional fees.

Can I use cards with no foreign transaction fees anywhere in the world?

These cards all run on either the Visa, Mastercard, or American Express payment networks. They’ll be accepted at any merchant where Visa, Mastercard, or Amex is accepted, respectively.

If I’m offered the choice to pay in the local currency or to pay a converted CAD/USD amount, what should I do?

Always choose to pay in the local currency. The converted CAD/USD option is known as “dynamic currency conversion”, and is almost always a terrible deal that uses a very unfavourable exchange rate.

If you’re paying with a credit card that has no foreign transaction fees, you’ll be much better off paying the correct amount in the local currency and then having that converted into CAD/USD on your credit card bill based on the mid-market rate.

Can I use credit cards with no foreign exchange fee to buy foreign currency?

You shouldn’t. If you purchase cash from a currency broker, or use an ATM to withdraw from your credit card, those would be considered cash-like transactions. You’ll be charged a cash advance fee (usually a flat rate), and interest on the cash advance charge will begin accruing immediately (unlike regular purchases which have a grace period until your statement payment is due).