Mr Miles, Consultant
@mrmiles42
The Bank of America foreign transaction fee is 3% or 0% of all international transactions, depending on the BofA card. There are 9 Bank of America credit cards with no foreign transaction fees, including the BofA Premium Rewards and Travel Rewards cards.
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:
1. Bank of America Premium Rewards - Biggest Bonus
2. Bank of America Travel Rewards - No Annual Fee
3. Alaska Airlines Credit Card - Best Airline Rewards
4. Bank of America Travel Rewards for Students - Best Student Card
Plus, more and more cards from other issuers are shedding their foreign fees. So you can shop around for the best deal.
2020's Best Bank of America Credit Cards
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Chris Kohl, Member
@kohl_chris
My Cash Rewards 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 Travel Rewards one doesn't have any.
People also ask
How much is the Bank of America Travel Rewards foreign transaction fee?
The Bank of America Travel Rewards foreign transaction fee is $0. This applies to all three BofA “Travel Rewards” cards: the Travel Rewards Credit Card, the Travel Rewards Credit Card for Students and the Business Advantage Travel Rewards card. International purchases made with any of these cards are not subject to a… read full answer
show lessHow much are Visa foreign transaction fees?
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. … read full answer
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@pkmoore
Other than the 3% transaction fee, do they use a currency conversion with a margin built in (e.g. a hidden fee) or do they use the same conversion as the currency markets?