7 travel cards with no transaction fees abroad
Don’t make the trip more expensive than it should be. Use these credit cards with no foreign transaction fees.
It only takes a glance at your card’s terms and conditions to see that credit cards can have a lot of fees. But while most people are already familiar with things like interest charges and late fees, there are a few more devious charges that can be just as costly if you don’t plan ahead.
Take the overseas transaction fees. It is the cost of processing a transaction in a foreign currency – anything that is not in US dollars. Foreign transaction fees can add 3% to 5% more to the cost of your purchases.
While you can certainly end up with overseas transaction fees right at home, you are more likely to run into this costly little hassle while traveling. Fortunately, here are some of the best travel rewards credit cards that actually waive your overseas transaction fees:
1. The American Express Platinum Card®
Despite its annual membership fee of $ 550, the The American Express Platinum Card® tops many travel card lists for many reasons, not the least of which is the lack of overseas transaction fees. Cardholders also earn rewards on qualifying airline and hotel purchases, as well as airline lounge access, monthly Uber credit, free hotel status, and a range of other benefits for travelers. card holders.
And let’s not forget the generous welcome bonus worth 75,000 Membership Rewards points for spending $ 5,000 in the first six months. Membership rewards are a coveted travel rewards currency as you can transfer your points to any of Amex’s many airline and hotel partners and get huge returns.
2. Chase Sapphire Reserve®
Another card appreciated by serious travelers, the Chase Sapphire Reserve® incorporates many travel benefits into its annual fee of $ 550. Not only will you avoid overseas transaction fees, but you’ll also get bonus rewards for travel and catering purchases, annual travel credit, airport lounge access, Global Entry refund, and more.
The Reserve sign-up bonus isn’t the most impressive on the list, but it’s still extremely valuable at 50,000 Chase Ultimate Rewards points for spending $ 4,000 in the first three months. Ultimate rewards are transferable to a dozen hotel and airline programs, usually at a rate of 1: 1.
3. Citi Prestige® card
To supplement the expensive top-notch travel cards, the $ 495 Citi Prestige® Card menu. In addition to not charging any overseas transaction fees, you’ll earn bonus rewards on your airline and restaurant purchases, as well as hotels and cruise lines. You can top it off with annual travel credit, airport lounge access, and discounted hotel stays, to name a few of the perks.
The sign-up bonus can go a long way in helping your trip abroad, providing 50,000 Citi ThankYou points for spending $ 4,000 in the first three months. ThankYou Points can be transferred to a number of hotels or airline partners (although Citi’s partner list is slightly less impressive than that of Amex or Chase).
4. Chase Sapphire Preferred® Card
The brave brother of the Sapphire reserve, the Chase Sapphire Preferred® Card has a much lower fee of $ 95, but many of the same benefits for cardholders – including no overseas transaction fees. You’ll still earn bonus rewards on travel and meals, but at a lower rate than Reserve.
Some of the extra perks of the reserve are also missing (no annual travel credit, for example), but the signup bonus is actually better with Preferred. You can earn 60,000 Ultimate Rewards points by spending $ 4,000 in the first three months.
5. Citi Premier® Card
the Citi Premier® Card is from the same family as the Prestige, but it’s much more affordable. The $ 95 card earns rewards in many of the same categories – including restaurant, airline, and hotel purchases – and more, like groceries and gas. However, you will not have the travel credit or access to the lounge.
As seems to be the trend, the Premier also has a larger signup bonus than the more expensive Prestige, providing 60,000 ThankYou points for spending $ 4,000 in the first three months.
6. Capital One® Venture® Rewards credit card
the Capital One® Venture® Rewards credit card is a solid travel option for people who want to avoid transaction fees abroad – but with less hassle than a premium travel card. There are no bonus categories to follow with the Venture; cardholders earn 2x miles per dollar for every purchase You don’t get a lot of fancy travel perks, but you only pay $ 95 per year.
Capital One Venture miles can be redeemed for a flat rate for travel purchases or transferred to selected partner airlines or hotels. While the list of transfer partners isn’t great – most domestic carriers are missing, for example – you can still find some great exchange options.
7. Discover it® Miles
the Discover it® Miles is the only card with no annual fee on our list of options with no foreign transaction fees. It is also the only one without transferable rewards. Cardholders will earn 1.5x miles per unlimited dollar on every purchase, which can be redeemed for cash back rewards or for qualifying travel purchases. Discover miles have a fixed redemption rate of $ 0.01 per mile.
While there is no traditional signup bonus with this card, it does have the Discover Cashback match. This means that Discover will double the miles you earn in the first year (bonus miles will arrive in your account after your first birthday).
When traveling to a foreign country, you have to become an expert in math every time you make a purchase if you want to get a feel for what you are actually paying for. Few things can make you a currency converting genius like traveling abroad on a budget.
But that doesn’t mean you should make it even harder by adding a little extra math – or extra cost. Choosing a travel card with no overseas transaction fees can take some of your shopping away from your trip.