What's the best business credit card with no foreign transaction fee?

The best credit card with no annual fee and no foreign transaction fee is the X1 Credit Card. It offers ongoing rewards of 2 points per $1 spent on all purchases (which becomes 3 points per $1 when you spend $1,000 per month) on purchases. This card requires excellent credit for approval, and its points are worth 1 cent each.

Best Credit Cards with No Annual Fees and No Foreign Transaction Fees... read full answer

The cards listed above require good credit or excellent credit for approval. If you are new to credit, you should consider getting the Petal® 2 Visa® Credit Card. This card is available to people with limited credit history, and it has a $0 annual fee and a 0% foreign fee. Plus, it offers 1 - 1.5% cash back on eligible purchases.

No foreign transaction fee means that a credit card or debit card does not include a surcharge for international purchases. In other words, a consumer won’t be charged extra for using the card outside of the U.S. Foreign transaction fees are usually charged as a percentage of every transaction made abroad. Most issuers charge around 0%-3%, but many offer at least one card that does not come with a foreign transaction fee. Some issuers, such as ... read full answerCapital One and Discover, do not include the fee on any of their cards. Refer to the card’s terms and conditions to know for sure if it comes with a fee for foreign transactions.

It’s important to note that you don’t have to physically use a card outside of the U.S. to get hit with a foreign transaction fee. The fee can also apply when you buy something online from a company based in another country. So, getting a no foreign transaction fee card can be very helpful if you buy a lot of things from abroad. It also offers consumers the best value for currency exchanges. On average, a no foreign transaction fee credit card saves international travelers 7.14% over the average bank or credit union. When compared to foreign exchange company Travelex, the savings jump to 9.31%.

However, not all credit cards with no foreign transaction fee are equal when it comes to worldwide acceptance. The card’s network dictates where you can use it outside the U.S. Cards on the Mastercard networks are accepted by merchants in more than 210 countries and territories, while Visa credit cards are accepted in more than 200. Discover cards work in about 185 countries and territories, and merchants in 160+ countries and territories take American Express cards.

One of the best credit cards for business travel is Capital One Spark Miles for Business because it offers an initial bonus of 50,000 miles for spending $4,500 in the first 3 months, plus ongoing rewards of 2 miles per $1 spent on purchases. Cardholders also enjoy a variety of benefits, such as free employee cards and a statement credit of up to $100 for the Global Entry or TSA PreCheck application fee.... read full answer

4 Best Credit Cards for Business Travel

What we like: Capital One Spark Miles for Business offers 50,000 miles for spending $4,500 in the first 3 months. Plus, you can earn 5 miles per $1 spent on hotels and rental cars booked through Capital One Travel, and 2 miles per $1 on all other purchases. In addition, this card gives a statement credit every four years for either the $85 TSA PreCheck application fee or the $100 Global Entry application fee.

The Capital One Spark Miles for Business also comes with a $0 foreign transaction fee, and it offers free employee cards.

What we don’t like: There is an annual fee of $95 from the second year onward. However, the card’s rewards will more than cover the cost if you use it regularly and avoid interest charges.

Who should get it: Capital One Spark Miles for Business is best for business owners with at least good personal credit who often travel for work.

What we like: The Chase Ink Preferred card offers 100,000 points for spending $15,000 in the first 3 months. Plus, you can earn 3 points per $1 on the first $150,000 spent per year on travel and select business expenses, and 1 point per $1 on all other purchases. In addition, this card has a $0 foreign transaction fee. So, this card is suitable for international travel.

What we don’t like: The annual fee is $95. Plus, balances carried from month to month will generate a lot of interest charges.

Who should get it: Apply for Chase Ink Preferred if you have at least good credit and you’ll be able to qualify for the initial bonus comfortably without overspending.

What we like: The CitiBusiness AAdvantage Card offers 65,000 miles for spending $4,000 in the first 4 months. Plus, you can earn 2 miles per $1 spent on American Airlines purchases, at telecommunications merchants, cable and satellite providers, car rental merchants and gas stations, 1 mile per $1 on all other purchases.

Also, the first checked bag is free on domestic American Airlines itineraries. Plus, the card comes with a 0% foreign transaction fee.

What we don’t like: The card’s annual fee is $0 intro 1st yr, $99 after. Plus, this card charges a high APR of 20.74% - 29.74% (V), based on creditworthiness.

Who should get it: You should apply for the CitiBusiness AAdvantage Card if its ongoing rewards and perks match up well with your business spending habits and you have at least excellent credit.

What we like: The JetBlue Business Credit Card offers 60,000 miles after spending $2,000 in the first 90 days plus 10,000 miles after a purchase is made on an employee card. Plus, you can earn 6 points per $1 spent on JetBlue purchases, 2 points at restaurants and office supply stores, and 1 point on all other purchases.

In addition, this card comes with a free first checked bag for you and up to 3 companions. You will also get a $100 statement credit each year after purchasing a JetBlue Gateways vacation package of $100 or more with your card. Plus the JetBlue Business Credit Card comes with a 0% foreign transaction fee.

What we don’t like: There is a $99 annual fee and a high APR of 20.49% - 29.49% (V), based on creditworthiness.

Who should get it: You should apply for this card if you’re a business owner who flies frequently and you have at least good credit.

How to Choose the Best Credit Card for Business Travel

• Decide whether a co-branded travel rewards card is right for you. If you use a particular airline or hotel every time you travel for work, then you should strongly consider applying for a co-branded business credit card associated with that company. Otherwise, applying for a business credit card with general travel rewards that aren’t tied to a particular travel provider might be more suitable.
• Look for ongoing rewards and a large initial bonus. Make sure to analyze your business spending and see what types of rewards would work best: cash back, points, or miles. Also, if you happen to spend a lot in a specific category, it makes sense to look for cards that offer bonus rewards in that category. In addition, you should look for an initial bonus with a spending requirement that you can easily meet, without overspending.
• Consider which travel perks are most important for your business. Look for travel perks that you can actually benefit from, and which can help you offset the card’s annual fee (if applicable). Some examples include travel insurance, airport lounge membership, free checked bags, travel credits, and more.

Above all else, make sure you choose a business travel credit card that allows you to save more with rewards and other benefits than you have to pay in fees. There’s no point in getting a card with a big bonus and a high annual fee if you won’t spend enough to earn the bonus, for example.