The Citi Premier foreign transaction fee is 0%. Citi Premier is one of several Citi credit cards with no foreign transaction fee. When you use one of these cards, you won't be charged extra for purchases made abroad, or from merchants based outside the U.S. Foreign transaction fees range from 0%-3% on other credit cards, with 3% being the standard for Citi credit cards that charge a foreign transaction fee.
Citi Premier is a travel rewards card that offers 60,000 points for spending $4,000 in the first 3 months. It also earns 3 points per $1 spent at restaurants, supermarkets, gas stations, air travel and hotels, and 1 point per $1 on all other purchases. Points value will vary based on how you redeem them. Citi Premier comes with a $95 annual fee. It is on the Mastercard network, which gives it wide-ranging global acceptance.
Foreign transaction fees are an unnecessary burden, whether you’re traveling or just shopping online from an international merchant. So it’s good to know there are several Citi credit cards with no foreign transaction fee. And many pack attractive rewards. Citi Premier, for instance, has a 0% foreign fee and offers 60,000 points for spending $4,000 in the first 3 months. And it earns 3 points per $1 spent at restaurants, supermarkets, gas stations, air travel and hotels, and 1 point per $1 on all other purchases. However, just because these cards have no foreign transaction fees doesn’t mean they’re free. Most charge annual fees – Citi Premier comes with a $95 annual fee.
If you want a Citi credit card with 0% foreign transaction fees and $0 annual fee, consider the Costco Anywhere Visa® Card by Citi. It’s on the VISA network, so its worldwide acceptance also makes it a worthy travel companion. And it earns 4% cash back on eligible gas for the first $7,000 per year, 3% on restaurants and travel, 2% on Costco and Costco.com purchases, 1% on all other purchases.
The Citi Premier Card credit score requirement is 700 or higher, which means applicants need good credit for a decent shot at approval. The average American will likely find it difficult to meet the Citi Premier credit score requirement, as 45% of people have lower credit scores. But an applicant’s credit score is only one factor in the approval process. Citi will also consider other things like the person’s income, existing debt load, recent credit inquiries, number of open accounts and more.… read full answer
The Premier Card’s credit score requirement is in line with the requirements for most other Citi credit cards, though there are a few that are easier to get, such as the Best Buy store card.
The Mastercard foreign transaction fee is 0% to 3%, depending on which card you have and which bank or credit union issued it. There are plenty of Mastercards with no foreign transaction fee, and that goes for both credit cards and debit cards. But many Mastercards charge up to 3% of each international purchase you make.… read full answer
The Mastercard foreign transaction fee comes in two parts. Mastercard, as the credit card network, always charges a 1% fee. Then, the credit card issuer can choose to add their own fee on top of that, or cover Mastercard’s fee for you. If your card’s foreign fee is higher than 1%, it means the issuer added their own fees. If your Mastercard’s foreign transaction fee is 0%, it’s because the issuer pays the 1% network fee for you.
You certainly don’t want to pay 3% more than you have to when traveling abroad or shopping from foreign merchants while in the U.S. After all, the average foreign transaction fee on a credit card is about 1.5%. And some major credit card issuers have done away with foreign transaction fees altogether.
It’s also worth noting that Mastercard foreign transaction fees and Visa foreign transaction fees are pretty much the same. Some cards charge as much as 3%. Others don’t charge a dime. And like Mastercard, Visa is accepted in 200+ countries and territories.
The best approach is to compare no foreign transaction fee credit cards on both the Visa and Mastercard networks. Check your credit score to see which ones you have best chance of getting approved for. And then find the card with the best collection of rewards, rates and fees for your needs. If you’re approved, you’ll save up to 3% on each foreign transaction. It’s as easy as that.
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