Do You Have One of the Best No Foreign Transaction Fee Credit Cards in Your Wallet?
Best No Foreign Transaction Fee Credit Cards
|Best Card for Beginners||Chase Sapphire Preferred® Card||50,000 Chase Ultimate Rewards points (worth $500 in cash back or $625 in travel) after you spend $4,000 on purchases in the first 3 months from account opening|
|Best No Annual Fee Card for Dining Purchases||Capital One® Savor® Cash Rewards Credit Card||$150 cash bonus after you spend $500 on purchases in the first 3 months from account opening|
|Best Card for Small Business Owners||Ink Business Preferred℠ Credit Card||80,000 Chase Ultimate Rewards points (worth $800 in cash back or $1,000 in travel) after you spend $5,000 on purchases in the first 3 months from account opening|
|Best Card for High Rewards on Travel and Dining||Chase Sapphire Reserve®||50,000 Chase Ultimate Rewards points (worth $500 in cash back or $750 in travel) after you spend $4,000 on purchases in the first 3 months from account opening|
|Best Card for Earning on Paid Airfare and Lounge Access||The Platinum Card® from American Express||60,000 American Express Membership Rewards points after you spend $5,000 on purchases in the first 3 months from account opening|
|Best Card for Folks Who Want a Simple Rewards Program||Capital One® Venture® Rewards Credit Card||50,000 Venture miles after you spend $3,000 on purchases in the first 3 months from account opening
|Best No Annual Fee Card for Travel and Gas Purchases||Wells Fargo Propel American Express® Card||30,000 bonus points after spending $3,000 within the first 3 months|
When you travel internationally there’s plenty to navigate, such as finding the next Wi-Fi spot, getting that super-confusing sign translated, or searching for the next cultural delicacy. So the last thing you need is an unpleasant surprise when you get your credit card bill and find you’ve been charged foreign transaction fees!
Luckily, there are plenty of fantastic credit cards to choose from that let you make overseas purchases for no additional fee. If you’re a big spender, you could save hundreds of dollars on an trip abroad!
We’ll round up some of the best no foreign transaction fee credit cards. You can use these cards abroad exactly like you would use them at home, with no additional fees!
Introducing the Best No Foreign Transaction Fee Credit Cards
1. Chase Sapphire Preferred
Link: Chase Sapphire Preferred
You’ll also get:
- 2X Chase Ultimate Rewards points per $1 spent on travel and dining worldwide
- 1X Chase Ultimate Rewards point per $1 spent on all other purchases
- 5,000 bonus Chase Ultimate Rewards points when you add an authorized user and make a purchase within the first 3 months of opening your account
- Primary car rental insurance – Covers damage due to theft or collision to your rental car, when you pay for the rental with your card
- Trip delay reimbursement – Get up to $500 back per ticket when your trip is delayed more than 12 hours
The Chase Sapphire Preferred has a $95 annual fee, but it’s waived the first year. So you can try the card out for ~11 months to see how you like it!
This sign-up bonus is worth $500 in cash back or $625 in travel (1.25 cents per point) when you redeem your points through the Chase Ultimate Rewards travel portal. And you can potentially get much more value by transferring points to airline and hotel partners.
Million Mile Secrets team member Jasmin uses her Chase Sapphire Preferred almost exclusively when she’s dining out overseas. Because it’s a Visa card, it’s accepted more frequently.
Choose this card: If you’re new to the hobby, spend lots on travel and dining abroad, or prefer a waived annual fee in the first year.
2. Capital One Savor
Link: Capital One Savor
Foodies rejoice! If cash back appeals to you, the Capital One Savor has a great earning rate on dining and groceries. Plus you’ll earn $150 cash back after spending $500 on purchases within the first 3 months of account opening.
This is one of only a few cards that has no annual fee and doesn’t add foreign transaction fees!
Here’s what you can earn:
- Unlimited 3% cash back on dining
- Unlimited 2% cash back on groceries
- Unlimited 1% cash back on all other purchases
This is also a good pick for folks who plan long trips and stay in vacation rentals, like Airbnbs, where they’ll be buying a lot of groceries and cooking for themselves.
Choose this card: If you want a card with no annual fee, spend a lot on food, and prefer cash back.
3. Chase Ink Business Preferred
If you’re a small business owner who travels a lot or makes a lot of purchases from foreign countries, consider the Chase Ink Business Preferred. It’s currently got the highest sign-up bonus of any Chase Ultimate Rewards points-earning card.
With the Chase Ink Business Preferred, you’ll earn 80,000 Chase Ultimate Rewards points after you spend $5,000 on purchases in the first 3 months from account opening. That’s worth $800 in cash back or $1,000 in travel (1.25 cents per point) when you redeem your points through the Chase Ultimate Rewards travel portal.
You’ll earn 3X Chase Ultimate Rewards points on the first $150,000 you spend per account anniversary year (combined) in the following categories:
- Shipping purchases
- Internet, cable, and phone services
- Advertising purchases with social media sites and search engines
You’ll also get:
- 1X Chase Ultimate Rewards points per $1 spent on all other purchases
- Up to $600 in cell phone insurance when you pay your cell phone bill with the card
- 25% bonus when you redeem points through the Chase Ultimate Rewards travel portal
- Primary auto rental insurance (CDW) when renting for business purposes, plus purchase and extended warranty protection
The card has a $95 annual fee, which is NOT waived the first year. Team members Keith and Meghan have the Chase Ink Business Preferred and keep it for the excellent earning and benefits like cell phone insurance!
Choose this card: If you own a small business and spend a lot of money on travel and other 3X categories like shipping or online advertising.
4. Chase Sapphire Reserve
Link: Chase Sapphire Reserve
The Chase Sapphire Reserve is the premier card for folks who travel a lot, so it’s no surprise that it doesn’t add foreign transaction fees.
Plus, you’ll get:
- 3X Chase Ultimate Rewards points per $1 spent on travel & dining worldwide
- 1X Chase Ultimate Rewards point per $1 spent on all other purchases
- $300 annual credit every cardmember anniversary for travel purchases such as airfare and hotels
- $100 statement credit for Global Entry
- Free Priority Pass Select membership for access to airport lounges
- Visa Infinite benefits like $25 food and beverage credit at the Luxury Hotel Collection and complimentary car rental elite status with Silvercar
- Rental car discounts with National Car Rental and Avis
The $450 annual fee is NOT waived the first year. But the annual travel credit and airport lounge access can more than offset the annual fee!
The sign-up bonus alone is worth $500 in cash back or $750 in travel (1.5 cents per point) when you redeem your points through the Chase Ultimate Rewards travel portal. And potentially much more when you transfer points to travel partners like United Airlines, Hyatt, or Singapore Airlines!
Plus, if you have other Chase Ultimate Rewards cards, having the Chase Sapphire Reserve increases the value of all your Chase Ultimate Rewards points!
Choose this card: If you travel frequently and spend a lot on travel and dining abroad.
5. American Express Platinum
- 5X AMEX Membership Rewards points per $1 spent on airline tickets purchased directly with airlines or with American Express Travel, and on hotels booked on the AMEX Travel Portal
- $200 annual airline incidental fee credit
- $200 in Uber credit per year (but there are restrictions)
- Airport lounge access to Priority Pass, Centurion, and AirSpace Lounges
- Statement credit every 5 years after you apply for Global Entry ($100) or TSA PreCheck ($85)
- Hotel elite status with Hilton, Marriott, and Starwood
- $550 annual fee
- Terms apply
If you can make the most of the annual airline fee and Uber credits, and will spend a lot of time in airport lounges, you can more than offset the annual fee.
Keep in mind, this is a charge card, so you must pay your balance off in full every month. Team member Keith especially likes using his AMEX Platinum card to book luxury stays through American Express Fine Hotels & Resorts. He and his wife received extra perks and credits at fancy hotels in Los Cabos and Las Vegas!
Choose this card: If you spend a lot on paid airfare and enjoy airport lounges.
6. Capital One Venture Card
Link: Capital One Venture
If you don’t want to fuss with bonus categories or award charts, the Capital One Venture is an excellent choice. With no foreign transaction fees and a straightforward rewards earning and redemption structure, this card is a top pick for folks who like simplicity.
The Capital One Venture sign-up bonus is 50,000 Venture miles after you spend $3,000 on purchases in the first 3 months of opening your account. And because you can redeem your Venture miles at a flat rate of 1 cent per mile towards travel, the sign-up bonus is worth $500. The $95 annual fee is waived the first year.
You’ll earn 2X Venture miles on all purchases. The one exception is that you can earn 10 Venture miles per $1 spent on hotels.com when booked and paid through this Hotels.com link (through January 31, 2020).
But you can NOT transfer Venture miles to airline and hotel partners.
To redeem your Venture miles for travel, use your Capital One Venture card to pay for your travel purchase. Once it’s posted to your account, you can “erase” the cost with miles. However, you must redeem the miles within 90 days of your purchase.
Plus, there’s NO minimum redemption increment when redeeming miles, unless you’re using miles to partially pay for a travel purchase. In that case, the minimum is 2,500 Venture miles ($25).
Choose this card: If you prefer rewards that are straightforward to earn and redeem, but still want a travel card.
7. Wells Fargo Propel American Express® Card
Spend a lot on travel and fuel? We’ve got the right no foreign transaction fee card for you!
The Wells Fargo Propel American Express® Card comes with a 30,000 bonus point (worth $300 in cash back, travel, gift cards, or other rewards) welcome bonus after spending $3,000 in purchases within the first 3 months of card opening.
You’ll also get:
- 3 points per $1 spent on travel purchases (flights, hotels, homestays, and car rentals)
- 3 points per $1 spent on eating out and ordering in
- 3 points per $1 spent on gas stations, rideshares, and transit
- 3 points per $1 spent on eligible streaming services, like Apple Music, Hulu, and Netflix
- 1 point per $1 for all other purchases
- Cell phone insurance (up to $600 per claim with a $25 deductible)
- NO foreign transaction fees
- NO annual fee
So it’s a great card to use for travel and gas purchases while you’re overseas. Plus, you won’t have to worry about paying an annual fee!
Your points are worth 1 cent a piece when you redeem them for rewards like cash back, travel, or gift cards. And if you have the Wells Fargo Visa® Signature® Card, you can redeem your points for 1.5 cents each toward airfare through the Wells Fargo portal. Meaning you’ll effectively get 4.5% back toward airfare for purchases like travel, dining, and at gas stations (3X points X 1.5 cents each)!
Choose this card: If you want a card with no annual fee, prefer cash back, and spend a lot on travel and gas.
The information related to the Wells Fargo Visa Signature Card has been collected by Million Mile Secrets and has not been reviewed or provided by the issuer or provider of this product or service.
5 Honorable Mentions for Best No Foreign Transaction Fee Cards
There are many more cards with no foreign transaction fees that didn’t make our favorites list. But here are a few more interesting options to consider:
Bank of America® Premium Rewards® Credit Card – A good deal if you’ve already got lots of other cards, with a decent earning rate and travel statement credits. Plus, if you have a lot of investments with Bank of America / Merrill Lynch, you may qualify for higher points earning rates and bonuses. Here’s our review.
Citi ThankYou® Premier Card – You’ll earn 3X Citi ThankYou points per $1 spent on travel, which includes gas stations! So this is a good pick for folks who’ll spend a lot on fuel when they travel abroad.
Discover it® Cash Back and Discover it® Miles – Both cards have no annual fee and no foreign transaction fees. Plus, Discover will match the cash back or miles you’ve earned at the end of your first cardmembership year. Team member Jasmin found her Discover it Cash Back card was widely accepted in Japan, but other countries might not accept Discover cards as readily.
U.S. Bank Altitude Reserve Visa Infinite® Card – A great choice for folks who like mobile wallets and travel, because you’ll earn 3X points in both categories! Plus, the card comes with travel credits and other perks that can make the $400 annual fee worthwhile. But you’ll need an existing relationship with US Bank to apply. Here’s our review.
Did we leave out your favorite no foreign transaction fee credit card? Let us know what we’re missing!
Reminder: Always Pay in Local Currency!
Even if you’re using a card with no foreign transaction fees, you can still end up on the hook for extra charges if you pay in the wrong currency!
Overseas, especially throughout Europe or in popular tourist areas, a merchant will sometimes use a credit card machine that recognizes you’re using a US credit card. And it offers you the choice to pay in local currency or US dollars.
Always pay in the local currency. In these cases, the credit card processor is adding their own currency conversion fees (sometimes 3% or more!) when you select payment in US dollars. So even if you use credit card with no foreign transaction fees, you will still be overpaying and essentially incur a foreign transaction fee from the merchant.
Note: You’ll get charged hefty cash advance fees and processing fees (up to ~$20!) if you use your card at international ATMs to withdraw cash. So avoid at all costs unless its an emergency!
Savvy travelers know to carry a no foreign transaction fee credit card when they’re abroad. You’ll save Big Money during your travels and avoid unexpected charges when your credit card bill comes due.
Always remember to pay in the local currency, even if you’re given the option to pay in US dollars. You’ll save on additional merchant currency conversion fees by doing so.
Here are our best credit cards with no foreign transaction fees:
- Chase Sapphire Preferred – Best for folks new to miles and points or if you don’t want an annual fee in the first year
- Capital One Savor – Great cash back earning on dining and groceries with no annual fee
- Chase Ink Business Preferred – Our top pick for small business owners with a terrific sign-up bonus
- Chase Sapphire Reserve – An all-around great card for frequent travelers with terrific perks
- American Express Platinum Card – Earn big bonus points for airfare and enjoy a better airport experience with lounge access
- Capital One Venture Card – This simple rewards program appeals to folks who don’t want to worry about award charts or blackout dates
- Wells Fargo Propel American Express® Card– A great for earning rewards on gas and travel purchases with no annual fee
These aren’t the only no foreign transaction fee cards out there. Did we miss your favorite? Let us know in the comments!