The Chase Freedom Unlimited® foreign transaction fee is 3% of each transaction in U.S. dollars. So, if you spend $100 at a merchant based in a foreign country, you’ll end up owing $103.
This fee applies to transactions made both in person and online. So, if you plan on spending a lot of money overseas or at foreign-based merchants, it can really add up quickly. Hence, you’re better off using Chase Freedom Unlimited® for your everyday purchases and getting a second card with no foreign transaction fee for your foreign purchases.
There are several Chase credit cards with 0% foreign fee, but the best is the Chase Sapphire Preferred® Card. It gives an initial bonus worth $750 toward travel when you spend $4,000 in the first 3 months. Plus, you get 2 points per $1 on travel and dining and 1 point on everything else. The Chase Sapphire Preferred® Card costs $95 per year.
One of the best no foreign transaction fee cards from another issuer is the Capital One Venture Rewards Credit Card, which gives 60,000 miles as a bonus when you spend $3,000 in the first 3 months, plus 2 miles per $1 on all purchases. This card has a $95 annual fee.
Ultimately, there are credit card issuers, such as Capital One and Discover, that do away with foreign transaction fees altogether. And there are $0 foreign fee credit cards available to people of all credit levels, from bad credit to excellent credit. So, there is no reason why you should ever pay extra when buying something from abroad.
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