How much is the Bank of America Travel Rewards foreign transaction fee?

Best Credit Cards with No Annual Fee and No Foreign Transaction Fee

The best credit card with no annual or foreign fees really depends on your credit standing and what type of rewards or other features you’re looking for. Fortunately, there’s a whole range of attractive possibilities.

The Bank of America cash advance fee is either 3% or 5% of the amount withdrawn, with a $10 minimum. Whether you get charged a 3% or 5% BofA cash advance fee depends on how you get your cash. If it’s from an ATM, for example, you pay 5%. But if you get it as a direct deposit to your bank account in 1-3 business days, you pay 3%.… read full answer

In addition to the Bank of America cash advance fee, you’ll owe interest at a variable rate of 15.99% to 27.24%, depending on your creditworthiness and income. This interest compounds daily. So, each day you’ll owe interest on both the original balance and any interest charged on your cash advance in previous days. Between the high interest rate and big fee, a BofA cash advance clearly is not good for your wallet.

Bank of America Cash Advance Fee by Transaction Type:

• Withdrawing money from an ATM: 5% cash advance fee
• Getting cash from a bank teller: 5% cash advance fee
• Same-day direct deposit to your bank account: 5% cash advance fee
• Buying cash equivalents like money orders or casino chips: 5% cash advance fee
• 1-3 business day direct deposit to your bank account: 3% cash advance fee
• Cash advance check that uses your card’s credit line: 3% cash advance fee

Bank of America cash advance fees are similar to what other credit card companies charge. Chase, Citi, Discover, American Express, and Wells Fargo have 5% cash advance fees, for example. Capital One has 3% cash advance fees and U.S. Bank charges 3-4% of the amount of each advance. No matter who issues your card, cash advances will always be expensive.

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 Bank of America® Premium Rewards® credit card and the Bank of America® Travel Rewards credit card… read full answer.

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.

• 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.

1. Bank of America® Premium Rewards® credit card: Biggest Bonus
2. Bank of America® Travel Rewards credit card: No Annual Fee
3. Alaska Airlines Credit Card: Best Airline Rewards
4. Bank of America® Travel Rewards Credit Card 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.