If you’re unfamiliar with foreign transaction fees, they’re a surcharge for using a credit card with a foreign merchant. Credit cards with foreign fees usually charge 1%-3% of the purchase price. That can really add up, especially since Amex’s 2.7% foreign fee is on the higher end of the spectrum.
Here are the American Express foreign transaction fees:
American Express cards with a foreign transaction fee charge 2.7%.
Many American Express credit cards have no foreign transaction fees.
Amex foreign transaction fees apply when you buy things abroad OR shop at foreign merchants online.
Some of the best American Express cards with no foreign fees include Amex Platinum and Premier Rewards Gold as well as the PenFed Premium Travel Rewards card and the Amex cards affiliated with Starwood, Hilton and Delta.
If you’re looking for an international credit card, it’s best to get one with no foreign transaction fee, and American Express does have a good selection. But American Express cards aren’t accepted by nearly as many foreign merchants as Visa and Mastercard. So you may find yourself somewhere your Amex won’t work. And that’s why it’s probably better to have a Visa or Mastercard for travel.
Major credit card foreign transaction fees range from 0% to 3% of each purchase processed internationally. The average credit card’s foreign fee is roughly 1.5%. Some credit card companies do not charge foreign transaction fees on any of their cards, including Capital One, Discover and USAA. Other credit card companies charge foreign transaction fees on some, or even most, of their cards. But each of the 10 largest credit card issuers has at least one credit card with no foreign transaction fees.… read full answer
Foreign Transaction Fees by Credit Card Company:
Credit Card Company
Standard Foreign Transaction Fee
Offers Card(s) with No Foreign Transaction Fee ?
Bank of America
Issuers charge foreign transaction fees on purchases made outside the U.S., whether in-person or online. The fee is always a percentage of the total purchase amount. The reason credit card companies charge foreign transaction fees is to help pay for the costs of currency conversion in international purchases. It’s essential to take a no foreign transaction fee credit card when going abroad, because those charges can quickly build up.
There are American Express exchange rates for sending and receiving money in more than 80 currencies. They include the Canadian Dollar, the British Pound, the Euro, the Mexican Peso, the Russian Ruble and the Japanese Yen. The rate is automatically applied to international purchases charged to Amex credit cards. American Express FX International Payments customers can access their accounts … read full answeronline to get the day’s exchange rates. However, these rates are not available to the public.
Exchange rates between the U.S. dollar and all other currencies fluctuate daily. But because American Express does not publish them openly, it’s difficult to track them. Visa and Mastercard publish their exchange rates daily. Discover does not. Many reports say Mastercard offers slightly better exchange rates than Visa. American Express reportedly is closer to Visa than Mastercard.
It’s also useful to know that you can’t make foreign transactions directly from an American Express savings account. But if you make a foreign transaction using your checking account, debit card or prepaid card, the exchange rates are the same as those used for credit cards.
American Express has several credit cards with no foreign transaction fees, including Amex Platinum, Amex Gold, and cards with rewards for Hilton, Marriott and Delta. The Amex cards without international fees have annual fees ranging from $0 to $500+. They also offer valuable travel benefits, such as free checked bags and luxury airport lounge access.… read full answer
The best American Express credit card with no foreign transaction fee is the Hilton Honors American Express card because it’s the only general-consumer offer without an annual fee. The Hilton Amex Card also has a nice signup bonus, giving 75,000 points once you spend $1,000 within the first three months. The ongoing rewards are pretty good too. Cardholders earn 7 points per dollar spent with hotels and resorts in the Hilton Honors collection as well as 5 points per dollar spent at restaurants, supermarkets, and gas stations. They’ll also earn 3 points per dollar spent on all other purchases.
American Express Cards with No Foreign Transaction Fees:
The Platinum Card ($550 annual fee)
Hilton Honors American Express Ascend Card ($95 annual fee)
Hilton Honors American Express Credit Card ($0 annual fee)
The Gold Card ($250 annual fee)
Marriott Bonvoy Brilliant American Express card- ($450 annual fee)
Delta Reserve Credit Card- ($550 annual fee)
Gold Delta SkyMiles ($0 1st yr, $99 after annual fee)
Platinum Delta SkyMiles ($250 annual fee)
While American Express no-foreign transaction fee credit cards make it cheaper to travel with your Amex card, they’re not accepted everywhere. You should be able to find businesses that accept American Express in places like Canada and Mexico. However, it’ll be harder in smaller countries, especially those that don’t typically do business with the U.S.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.