Best Bank of America Credit Cards with No Foreign Transaction Fee
Bank of America® Travel Rewards credit card
Bank of America® Premium Rewards® credit card
Alaska Airlines Credit Card
Air France KLM Credit Card
Sonesta Credit Card
In addition to using a card with no foreign transaction fee, you’ll want to avoid dynamic currency conversion while you’re abroad. By doing these two things, you could save up to 10% when traveling internationally.
A foreign transaction fee is a surcharge, usually between 1%-3%, added to transactions processed outside of the United States. The transaction doesn’t need to be made on foreign soil in order for the fee to apply. Online purchases stateside through an internationally-based merchant also incur a fee.
Bank of America Travel Rewards Cards’ Foreign Transaction Fees:
Both the Bank of America Travel Rewards for Students and the Bank of America Travel Rewards Business Card offer 3 points / $1 spent on travel purchases booked through the Bank of America Travel Center, and all three cards with “Travel Rewards” in their name give 1.5 points / $1 spent on all other purchases.
Bank of America Customized Cash Rewards credit card Foreign Transaction Fee Info:
Foreign transaction fee: 3% of any purchase from a foreign-based merchant.
When you owe the foreign transaction fee: In-person and online purchases processed internationally.
Other Bank of America cards: Nearly 10 Bank of America credit cards have a 3% foreign transaction fee. All other BofA credit cards, including the Bank of America Travel Rewards credit card and the Bank of America Premium Rewards credit card, have 0% foreign transaction fees.
The Bank of America Customized Cash Rewards credit card foreign transaction fee isn’t the only fee you have to worry about with the Bank of America Customized Cash Rewards credit card. If you take out a cash advance, you will owe $10 or up to 5% of the transaction amount, whichever is greater. Late payments will cost you up to $40. Plus, if you transfer a balance to the card, you’ll pay a fee equal to 3% (min $10) of the amount. Fortunately, the Bank of America Customized Cash Rewards credit card has a $0 annual fee.
A Visa foreign transaction fee of 0% to 3% could apply to purchases processed outside the U.S., depending on which Visa credit card or debit card you have. The Visa foreign transaction fee is usually 0% on travel rewards credit cards, which are built for spending all around the world. And some credit card companies, such as Capital One, don’t charge foreign fees on any of their cards, Visa or Mastercard. But many other Visa cards come with foreign transaction fees of 1%, 2% or even 3%.… read full answer
If your Visa card does have a foreign transaction fee, you’ll have to pay it any time you make a purchase from a merchant that’s based in a country other than the U.S. So that means it applies to online purchases, too.
While it’s difficult to list every Visa’s foreign transaction fee – the are a ton of Visa cards – we can go over a few popular examples.
As you can see, there are a lot of opportunities to get a Visa card with no foreign transaction fee. That’s definitely a good idea before traveling (or shopping) abroad, since Visa is accepted just about anywhere that takes credit cards worldwide.
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