You don’t want to spend unnecessary time thinking about foreign transaction fees while traveling — and you shouldn’t have to! There are several excellent credit cards that not only waive this pesky fee but also provide multiple other rewards for dollars spent on airfare, hotels, dining out, and more.
Calling all frequent flyers and world travelers! Your credit card’s foreign transaction fees can add hundreds, even thousands, of unnecessary dollars to your future trips. But why budget for this extra expense when more and more financial lenders are offering credit cards with no foreign transaction fees at all?
Instead of tacking an extra 3% or 4% onto nearly every credit card purchase you make overseas, consider one of the credit cards listed below. All have competitive rewards programs, and new cardholders can earn extra cash or miles for trips thanks to their welcome bonuses.
Overview: Best no foreign transaction fee credit cards
- Best for welcome bonus: Chase Sapphire Preferred® Card
- Best for premium travel: Capital One Venture Rewards Credit Card
- Best for cash back: Capital One Quicksilver Cash Rewards Credit Card
- Best for rewards for everyday purchases: Citi Premier® Card
- Best for rewards for dining: American Express® Gold Card
Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card
Annual Fee
Intro APR
Regular APR
Credit Needed
$95
N/A
21.49% - 28.49% Variable
Excellent/Good
Key Features
- Annual fee: $95.
- Welcome bonus: 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 Ultimate Rewards®.
- Minimum credit requirement: Excellent; 750+.
- Travel rewards: 5x points on travel purchased through Chase Ultimate Rewards®, 3x points on dining, 2x points on all other travel purchases, and 1 point on all other purchases.
The Chase Sapphire Preferred® Card is a particularly competitive credit card that has a great deal to offer travelers beyond the obvious no foreign transaction fees and generous points system.
Cardholders receive insurance coverage, such as auto rental collision and baggage delay insurance, a $50 annual Chase Ultimate Rewards® hotel credit, global access to a 24/7 concierge line, and more.
As if these benefits weren’t enticing enough, you can get 25% more value when you redeem points for travel purchased through Chase Ultimate Rewards®. For instance, right now new cardholders can earn an impressive welcome bonus to boost their vacation fund: 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 Ultimate Rewards®.
» MORE: See card details/apply or read our full Chase Sapphire Preferred® Card review
Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card
Annual Fee
Intro APR, Purchases
Intro APR, Balance Transfers
Regular APR
Credit Needed
$95
N/A
N/A
19.99% - 29.99% (Variable)
Key Features
- Annual fee: $95.
- Welcome bonus: One-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening.
- Minimum credit requirement: Good; 700+.
- Travel rewards: 2x miles earned for every $1 spent.
The Capital One Venture Rewards Credit Card is an excellent option for avid travelers, as it comes chock-full with many travel-related benefits.
Perhaps the greatest perk this card has to offer is two miles for every dollar spent on anything… anything. And, for as long as your account is open, those miles won’t expire. Don’t bother looking for a similar offer elsewhere — this perk is unheard of in the industry.
The Capital One Venture Rewards Credit Card also has a hefty welcome bonus for new cardholders: 75,000 miles once you spend $4,000 on purchases within 3 months from account opening.
Additional travel benefits include travel upgrades, shopping discounts and more.
Oh yes, and of course, you’ll never have to pay for foreign transactions (See Rates & Fees.).
» MORE: See card details/apply or read more in our Capital One Venture Rewards Credit Card review
Capital One Quicksilver Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card
Annual Fee
Intro APR, Purchases
Intro APR, Balance Transfers
Regular APR
Credit Needed
$0
0% intro on purchases for 15 months
0% intro on balance transfers for 15 months
19.99% - 29.99% (Variable)
Key Features
- Annual fee: $0.
- Welcome bonus: One-time bonus of $200 cash bonus once you spend $500 on purchases within 3 months from account opening
- Minimum credit requirement: Good; 700+.
- Travel rewards: 1.5% cash back on all purchases.
We already know the Capital One Quicksilver Cash Rewards Credit Card doesn’t charge a fee for foreign transactions, but new cardholders will be thrilled to hear that this credit card also comes with numerous credit card benefits.
But this credit card is also an excellent choice for globetrotters and home bodies alike because of its cash back rewards. For every purchase made with your Capital One card, you get 1.5% cash back rewards. This offer is not only unlimited, but it won’t expire for the life of the account, and you can redeem cash back at any time. Also, unlike the other credit cards reviewed in this article, the Quicksilver card does not have an annual fee.
New applicants can receive a $200 cash bonus once you spend $500 on purchases within 3 months from account opening, so jump on this opportunity while you can.
» MORE: See card details/apply or read our full Capital One Quicksilver Cash Rewards Credit Card review
Citi Premier® Card
Citi Premier® Credit Card
Annual Fee
Intro APR, Purchases
Intro APR, Balance Transfers
Regular APR
Credit Needed
$95
N/A
N/A
21.24% - 29.24% (Variable)
Key Features
- Annual fee: $95.
- Welcome bonus: Earn 60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening. These points are redeemable for $600 in gift cards at thankyou.com.
- Minimum credit requirement: Good; 700+.
- Travel rewards: 3x points at gas stations, supermarkets, restaurants, hotels, and on air travel; 1 point on all other purchases.
Like the Capital One Quicksilver Cash Rewards Credit Card, the Citi Premier® Card has an amazing rewards program for cardholders. For every dollar spent on gas, groceries, dinners out, hotel stays, and airline tickets, you’ll earn 3x the points. Every other purchase earns 1 point per dollar, and those points are unlimited in every category.
Here’s the catch: points must be redeemed through thankyou.com and only in select increments, such as $10, $25, and sometimes $50.
For travelers, in addition to waiving the foreign transaction fee, this card provides several additional perks. For instance, every year you can enjoy $100 off a single hotel stay of $500 or more (excluding taxes and fees and when you book through thankyou.com). You can also earn more for your ThankYou® Points by transferring them to an airline loyalty program like TrueBlue®, Virgin Atlantic Flying Club, and Singapore Airlines KrisFlyer.
American Express® Gold Card
All information about The AMEX Gold Card has been collected independently by MoneyUnder30.com. Content has not been reviewed or approved by the issuer. Earn 60,000 Membership Rewards points after you spend $4,000 on purchases on your new card in your first six months of card membership. Earn 4X Membership Rewards points for purchases at restaurants worldwide; 4X Membership Rewards points for groceries at U.S. supermarkets (up to $25k in purchases); 3X points on flights booked directly with airlines or on amextravel.com; and 1X point per $1 spent on eligible purchases elsewhere. $250 High rewards potential on everyday purchases and travel purchases make the Gold Card a well-rounded offer for anyone. Offer details accurate as of 9/6/23American Express® Gold Card
Welcome Offer
Rewards
Annual Fee
Our Thoughts
In a Nutshell
The American Express® Gold Card is the premier credit card for foodies, offering 4x points at restaurants and supermarkets. Those with grand travel plans will be thrilled to hear this credit card also provides 3x points for dollars spent on airfare booked directly with amextravel.com. As if those perks weren’t incentive enough, new cardholders can earn 60,000 bonus miles when you spend $4,000 in the first six months from opening your account.
What We Like
- 60,000 Membership Rewards® Points when you spend $4,000 within the first six months of account opening.
- 4x points at restaurants, 4x points at supermarkets (up to $25,000 annually), 3x points on airfare, and 1 point per dollar spent everywhere else.
- Cardholders are eligible to receive a $120 dining credit and $120 Uber Cash.
Key Features
- Annual fee: $250.
- Welcome bonus: 60,000 Membership Rewards® Points after spending $4,000 in the first six months.
- Minimum credit requirement: Good; 700+.
- Travel rewards: 4x points at restaurants, 4x points at supermarkets (up to $25,000 annually), 3x points on flights, and 1 point on all other purchases.
Our final no foreign transaction fee credit card is the American Express® Gold Card, and this one is a doozy. Cardholders can earn 3x points for dollars spent on airfare booked directly with amextravel.com, and once you’ve arrived at your destination, the Amex Gold Card provides perks for rideshares as well, with an automatic credit of $10 per month in Uber Cash (for rides or Uber Eats).
However, the Amex Gold Card’s greatest benefits will appeal most to foodies. The rewards program for this card offers a generous 4 points per dollar spent at restaurants and U.S. supermarkets (up to $25,000 spent annually, then 1X). That benefit alone can save you hundreds on groceries and dining out each year, but cardholders can also receive a $120 dining credit by using their Amex Gold Card with Grubhub, the Cheesecake Factory, and other select locations.
Unfortunately, the Amex Gold Card does have its drawbacks. There is a steep annual fee of $250, and many of the benefits associated with this card have restrictions, such as the spending cap on rewards points earned via supermarket purchases. So before you apply, review the fine print thoroughly and make sure the rewards you expect to earn (based on your current spending habits) will cancel out that annual fee.
The Bottom Line
For frequent flyers and travelers, a no foreign transaction fee credit card can mean significant savings overseas. However, these cards also come packed with additional rewards (and restrictions), so it’s important to think about your broader spending patterns and financial habits before applying.
For instance, the Capital One Venture Rewards Credit Card has an enticing welcome bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening. But if you don’t fly often, there’s little reason to select this credit card. Instead, consider an alternative like the Citi Premier® Card, which offers new cardholders 60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening. These points are redeemable for $600 in gift cards at thankyou.com., plus 3x points in multiple spending categories, like gas stations, supermarkets, and even air travel.
Furthermore, pay attention to details like APR and annual fees. For instance, the Amex Gold Card provides a generous rewards program, with 4x points at restaurants and supermarkets. However, if you don’t eat out much or are buying groceries for just yourself, those perks may not cancel out the hefty $250 annual fee. Meanwhile, the Capital One Quicksilver Cash Rewards Credit Card has no annual fee and rewards cardholders with 1.5% cash back for any and every purchase (See Rates & Fees.).
All in all, while no fees on foreign transactions is certainly a worthwhile reward to search for, it’s not the only box your next credit card should check. Consider the benefits offered with each credit card and select the option that rewards your current lifestyle.