What are the Best No-Foreign-Transaction-Fee Credit Cards?
No-Foreign-Transaction-Fee Credit Cards: Your Guide to the Best Options
If you frequently travel overseas, you know how expensive it can be to use your credit card in foreign countries. Foreign transaction fees can add up quickly, costing you hundreds of dollars in fees. Fortunately, there arecredit cardsavailable that do not charge foreign transaction fees. In this article, we will discuss the best options for no-foreign-transaction-fee credit cards.
Chase Sapphire Preferred Card
The Chase Sapphire Preferred Card is one of the best credit cards for international travelers. It offers a generous sign-up bonus of 100,000 points after you spend $4,000 in the first three months of account opening. It also earns 2x points on travel and dining and 1x point on all other purchases. The card hasno foreign transaction feesand also offers travel insurance benefits.
Capital One Venture Rewards Credit Card
The Capital One Venture Rewards Credit Card is another great option for international travelers. It offers a sign-up bonus of 60,000 miles after you spend $3,000 in the first three months of account opening. It also earns 2x miles on every purchase, with no blackout dates or expiration dates to worry about. The card has no foreign transaction fees and comes with travel insurance benefits.
American Express Platinum Card
The American Express Platinum Card is a premium credit card that offers a range oftravel benefits, including access to airport lounges, airline fee credits, and hotel room upgrades. It also offers a sign-up bonus of 100,000 Membership Rewards points after you spend $6,000 in the first six months of account opening. The card has no foreign transaction fees and earns 5x points on flights booked directly with airlines or with American Express Travel, as well as on prepaid hotels booked through American Express Travel.
Citi Premier Card
The Citi Premier Card is a great option for those who want to earn points on travel and everyday purchases. It offers a sign-up bonus of 80,000 ThankYou points after you spend $4,000 in the first three months of account opening. It also earns 3x points on restaurants, supermarkets, gas stations, air travel, and hotels, and 1x point on all other purchases. The card has no foreign transaction fees and comes with travel insurance benefits.
Additional Tips for Choosing a No-Foreign-Transaction-Fee Credit Card
When choosing a no-foreign-transaction-fee credit card, consider the following factors:
- Rewards: Look for a card that offersrewardson travel and everyday purchases that you can use to offset the cost of your trips.
- Sign-up bonus: A generous sign-up bonus can help you earn points or miles quickly, which you can use to pay for your next trip.
- Travel benefits: Look for a card that offers travel insurance benefits, airport lounge access, and other perks that can make your travel experience more comfortable and affordable.
- Annual fee: Consider the annual fee of the card and make sure that the rewards and benefits you receive are worth the cost.
- Foreign exchange rate: While no-foreign-transaction-fee credit cards do not charge fees for transactions made in foreign currency, they may charge a foreign exchange rate that is higher than the market rate. Make sure to compare theexchange ratesof different cards before making a decision.
In conclusion, if you frequently travel overseas, a no-foreign-transaction-fee credit card can save you money on fees and help you earn rewards on your purchases. Consider the factors mentioned above when choosing a card, and make sure to use it responsibly to avoid accruing debt. With the right card, you can enjoy your travels without breaking the bank.