5 Best No Foreign Transaction Fee Credit Cards For 2021
With so many low-cost airline carriers, deals on vacation packages and numerous ways to use rewards miles to score free trips, there’s never been a greater time to travel. However, if you want to travel internationally, using the right credit card is imperative–we’re talking about saving money on unnecessary fees.
When you use your credit card internationally, your credit card issuer could charge you what’s called a transaction fee, which is a service charge imposed on you for the privilege of using the card overseas. What happens is that when you pay with your credit card, your issuer needs to convert U.S. dollars into the local currency so it can pay the merchant–this is the service you’ll get charged for. Fees can go as high as 3% of your purchase amount.
The good news is that there are many credit cards that don’t charge you a foreign transaction fee, saving you some serious cash. If you’re planning on traveling internationally in the near future, these five no foreign transaction fee credit cards should be in your arsenal.
As the only cashback rewards credit card on this list, you can bet this is a good one. There’s no annual fee and you earn a flat 1.5% cashback on all purchases–no earnings cap nor any redemption minimums unlike other types of cashback cards.
This feature alone makes it great for those who don’t use their credit card a lot or don’t want complicated earnings requirements–you simply swipe your card and earn rewards, as easy as that.
What’s also great about the Capital One Quicksilver Cash Rewards Credit Card is that you don’t need to have excellent credit to qualify unlike the other ones on this list. However, you still need to have good credit. If you’re trying to pay down credit card debt, there’s a 0% introductory APR on purchases and balance transfers for the first 15 months. The balance transfer fee of 3% is lower than many of the card’s competitors.
As an incentive for signing up, you can earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening. Like other Capital One credit cards, cardholders get travel accident insurance, purchase protection, 24/7 travel assistance services, concierge service, and $0 fraud liability. Learn more about this offer here.
Aside from no foreign transaction fees, the Chase Sapphire Preferred®️ Card is popular among credit card enthusiasts because it offers a bunch of great travel perks and is for people who don’t travel frequently enough to get value out of other cards with higher annual fees.
For a $95 annual fee (which is waived in the first year), you get two points for each dollar you spend on dining and travel and one point per dollar on all other purchases. There’s also a sign-up bonus of 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®.
Aside from points, the Chase Sapphire Preferred®️ Card offers benefits such as purchase and extended warranty protection, primary car rental insurance coverage, trip delay and cancellation coverage. There’s also the option to transfer points to airline and hotel partners which only enhances the value of this credit card. Learn more about this offer here.
The Capital One Venture Rewards Credit Card is great if you want a simple reward earning system with no foreign transaction fees and flexibility in redeeming rewards. Cardholders earn two points per dollar on all purchases, with no caps on how much you can earn. You’ll also get 75,000 bonus miles if you spend $4,000 on purchases within the first three months and up to a $100 credit for Global Entry or TSA PreCheck.
Other benefits you’ll receive include extended warranty protection, fraud liability, travel accident insurance, auto rental collision damage waiver, and 24/7 travel assistance services. As for rewards redemption, you cause use transfer miles to more than 10 participating airline partners. If you’re someone who loves experiences, this credit card offers exclusive access to sporting and music events, plus culinary dining experiences.
The annual fee will set you back $95, but it’s waived the first year. Learn more about this offer here.
Foodies rejoice–you can earn some pretty high rewards on purchases at U.S. supermarkets and restaurants as well as an annual dining credit. Aside from the sign-up bonus of 35,000 Membership Rewards points once you spend $2,000 on purchases within the first three months of account opening, you earn 4 points per dollar on dining and at U.S. supermarkets and three points per dollar on qualifying flights.
That’s not all. You’ll receive a $100 airline fee and a $120 dining credit each calendar year. It does come with a fairly steep annual fee–$250 to be exact–but it could be worth it if you take advantage of all the annual credits and earn enough points to offset the cost. Learn more about this offer here.
Wells Fargo Propel American Express®️ Card
This no annual fee travel rewards credit card is best for those who aren’t into luxury travel and don’t desire things like airport lounge access, reimbursement for Global Entry or TSA PreCheck–you won’t get any of these. However, it’s a great card if you want to maximize your rewards earnings potential.
First, you’ll earn 30,000 bonus points after spending $3,000 in purchases within the first three months of account opening. Cardholders also earn three points per dollar on dining, travel (including flights and hotels), gas stations and streaming services as well as one point per dollar on all other purchases.
Aside from the usual travel protections, you also get cell phone protection–up to $600 against loss or theft. Learn more about this offer here.