5 Best No Foreign Transaction Fee Credit Cards for 2018
Many credit cards charge a fee when you make a purchase in another currency. This foreign transaction fee is typically around 3 percent of the transaction amount and can even be charged when you make online purchases from countries with other currencies. You can avoid this fee by getting a no foreign transaction fee credit card.
If you're planning to travel internationally, having a credit card that won't charge extra fees for the purchases you make in your destination country can save you lots of money. Check out the best no foreign transaction fee credit cards.
Best for Travel Rewards: Chase Sapphire Preferred
Of all travel rewards credit cards without a foreign transaction fee, Chase Sapphire Preferred offers the most versatile rewards and signup bonus for the annual fee you'd pay on the credit card.
Chase Sapphire Preferred currently offers a 50,000 signup bonus to new cardholders who spend $4,000 on purchases in the first 3 months from account opening. The signup bonus is worth $625 when you redeem it through Chase Ultimate Rewards. You can earn an additional 5,000 bonus points if you add an authorized user and make your first purchase 3 months from opening your account.
You'll earn 2 points per dollar on travel and dining purchases and 1 point per dollar on everything else. Redeem your rewards on travel at any time. Your points are worth 25 percent more when you redeem them through Chase Ultimate Rewards for airfare, hotels, car rentals, and cruises.
Important Pricing: The regular APR is 16.99 percent to 23.99 percent and the $95 annual fee is waived in the first year.
Best for Cash Back Rewards: Discover it
The opportunity to earn 5 percent cashback rewards plus the long introductory 0 percent APR period, make the Discover it a great no foreign transaction fee credit card.
With the Discover it, you'll earn 5 percent on up to $1,500 on purchases in categories that rotate each quarter. Make sure you register for the 5 percent bonus rewards each category so your purchases count toward the bonus level. All your other purchases earn 1 percent cash back. For new cardholders, Discover it will automatically match all the cashback you earn in the first year, dollar for dollar.
On top of the cash back rewards, Discover it offers a few other perks. Freeze it on/off switch allows you to prevent unauthorized users from using your credit card. You'll also be able to get your FICO score free on your monthly billing statement.
Important Pricing: Enjoy a 14-month 0 percent introductory APR on both purchases and balance transfers. After that, the regular APR is 11.99 percent to 23.99 percent. There's no annual fee.
Best Airline: Citi AAdvantage Platinum Select World Elite MasterCard
After merging with US Airways American Airlines became the largest North American Airline both in terms of fleet, passengers handled, and hubs in major cities. It's understandable how its branded credit card, the Citi AAdvantage Platinum Select World Elite MasterCard, landed on our list of best no foreign transaction fee credit cards.
The Citi AAdvantage Platinum Select World Elite MasterCard pays 60,000 bonus miles once you make $3,000 in purchases in the first 3 months of opening your account.
Your purchases earn 2 AAdvantage miles for every dollar spent on American Airlines purchases and 1 AAdvantage mile for every dollar spent on other purchases. You'll get 10 percent of your redeemed miles back each calendar year with a 10,000 mile cap.
The Citi AAdvantage Platinum Select World Elite MasterCard gives you access to priority boarding and allows you to check your first bag for free. You'll save 25 percent on in-flight food and beverages when you use your credit card for the purchase.
Important Pricing: The APR is 17.24 percent to 25.24 percent. The $95 annual fee is waived in the first year.
Best for Limited Credit: Capital One Classic Platinum
The Capital One Classic Platinum is great if you have limited credit and you're looking for a credit card that doesn't charge foreign transaction fee. Capital One is one of the few credit card issuers that doesn't charge foreign transaction fees on any of its credit cards.
Your responsible credit card use will pay off in a big way. Capital One will give you an automatic credit limit increase if you make your first five monthly payments on time. You have the option of choosing your own due date to make it more convenient to make your payments on time.
Important Pricing: The Purchase APR is 24.99 percent and the annual fee is $0.
Best for Bad Credit: Capital One Secured MasterCard
Having bad credit doesn't mean you can't access a credit card with no foreign transaction fee. The Capital One Secured MasterCard is easier to get approved for if you have bad credit because it allows you to make a refundable minimum security deposit of $49, $99, or $200 for a $200 credit limit. Your credit history determines whether you qualify for one of the lower security deposit amounts. If you want a credit limit, you can make an additional security deposit to increase your initial credit limit before your account opens.
Make your first five monthly payments on time and Capital One will consider you for an automatic credit limit increase. You won't have to make an additional security deposit to receive the increase.
Important Pricing: The APR is 24.99 percent and there's no annual fee.