Those no foreign fee BofA cards clearly are a better choice for international spending than the ones with a 3% surcharge for everything you buy abroad. That’s actually one of the highest foreign fees on the market. So international shoppers need to be careful when picking a Bank of America credit card and perhaps consider cards from other issuers too.
Bank of America foreign transaction fees:
Some Bank of America credit cards have a 3% foreign transaction fee.
Other Bank of America credit cards have no foreign transaction fee.
Foreign transaction fees can apply when you travel abroad or make online purchases from foreign merchants.
At 3%, the Bank of America foreign transaction fee is too steep for anyone planning to make international purchases. But the cards that charge it are meant more for everyday spending than travel. The good news is there are a handful of foreign fee-less alternatives.
Best Bank of America credit cards with no foreign transaction fees:
My Bank of America® Cash Rewards credit card has 3%, but I'm always careful where I use it. If you're looking for a BoA card with no FTF's, I know the Bank of America® Travel Rewards credit card doesn't have any.
A foreign transaction fee is a surcharge, usually between 0%-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.
Both the Bank of America® Travel Rewards Credit Card for Students and the Business Advantage Travel Rewards World Mastercard® Credit Card offer 3 points per $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 on all other purchases.
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.
Here are some Visa foreign transaction fees:
All Capital One Visa cards: 0% foreign fee
All USAA Visa cards: 0% foreign fee
All PenFed Visa cards: 0% foreign fee
Chase Sapphire Preferred: 0% foreign fee
Bank of America Travel Rewards: 0% foreign fee
Bank of America Premium Rewards: 0% foreign fee
Chase Freedom Unlimited: 3% foreign fee
Wells Fargo Cash Wise Visa: 3% foreign fee
Credit One Bank Platinum Visa: 3% foreign fee
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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