The Chase foreign transaction fee for credit cards is either $0 or 3% of each transaction in U.S. dollars, depending on which credit card you get. A foreign transaction fee is a surcharge that some credit cards add to transactions processed outside of the United States. The fee applies whether it’s a purchase at a physical location in a foreign country or an online transaction through an internationally-based merchant.… read full answer
Chase Credit Cards with No Foreign Transaction Fees
In general, Chase cards that have annual fees don’t have foreign transaction fees, and vice-versa. If you’re a frequent traveler, not having to pay fees abroad probably outweighs the cost of an annual fee.
The Chase credit card exchange rate is the exchange rate quoted by Visa or Mastercard plus a foreign transaction fee between 0% and 3%. The network’s exchange rate will vary based on the date of the purchase, and the card network that’s used will depend on which Chase credit card you have. The foreign transaction fee will also vary by card.… read full answer
Visa and Mastercard publish their exchange rates daily, while Discover and American Express don’t publish them at all. Some reports say that Mastercard tends to offer marginally better exchange rates than the others, but with so much volatility in the rates, this isn’t always the case. All in all, the differences in these exchange rates are negligible, and shouldn’t determine which Chase card you carry.
Ideally, though, you should always use a credit card with no foreign transaction fee when purchasing from international merchants. As long as you get a card with no foreign transaction fee and avoid dynamic currency conversion, the exchange rates you’ll pay on international spending with a credit card will be much lower than those you’d get converting cash with banks, credit unions, or airport currency exchange services.
The best Chase travel credit card is the Chase Sapphire Preferred® Card because it offers 5 points per $1 spent on travel through Chase, and 1 point / $1 to 3 points / $1 spent on all other purchases. The Chase Sapphire Preferred card also has an initial bonus of 80,000 points for spending $4,000 in the first 3 months.… read full answer
In addition, the Chase Sapphire Preferred card offers key travel-related benefits such as trip delay reimbursement, trip cancellation / interruption insurance, and baggage delay insurance. And with a $0 foreign transaction fee, you won’t be charged extra on purchases made abroad. The annual fee is $95.
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