Maria Adams, Credit Cards Moderator
@m_adams
The major credit card foreign transaction fees range from 0% to 3% of each purchase processed internationally. The average credit card’s foreign fee is roughly 1.5%. Some credit card companies do not charge foreign transaction fees on any of their cards, including Capital One, Discover and USAA. Other credit card companies charge foreign transaction fees on some, or even most, of their cards. But each of the 10 largest credit card issuers has at least one credit card with no foreign transaction fees.
Here are the foreign transaction fees by credit card company:
| Credit Card Company | Standard Foreign Transaction Fee | Offers Card(s) with No Foreign Transaction Fee ? |
| American Express | 2.7% | Yes |
| Bank of America | 3% | Yes |
| Barclays | 3% | Yes |
| Capital One | 0% | Yes |
| Chase | 3% | Yes |
| Citi | 3% | Yes |
| Discover | 0% | Yes |
| Synchrony | 3% | Yes |
| USAA | 0% | Yes |
| Wells Fargo | 3% | Yes |
Issuers charge foreign transaction fees on purchases made outside the U.S., whether in-person or online. The fee is always a percentage of the total purchase amount. The reason credit card companies charge foreign transaction fees is to help pay for the costs of currency conversion in international purchases. It’s essential to take a no foreign transaction fee credit card when going abroad, because those charges can quickly build up.
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People also ask
What does no foreign transaction fee mean?
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 Capital One...
read full answerWhat are the best credit cards with no annual fee and no foreign transaction fee?
There are plenty that fit into that category. The obvious think to consider is that most (if not all) have a requirement of 700 or more.
Still, you could get better offers with no foreign transaction fees but with an annual fee. If you think the annual thing's no good, I'd say try Discover it.
read full answerHow do I avoid foreign transaction fees?
The best way to avoid foreign transaction fees is to use a debit or credit card that waives foreign fees when you're traveling abroad or making online purchases from international retailers. About 25% of credit card offers don't have foreign transaction fees, so there’s no reason to pay the extra charge.
How to avoid foreign transaction fees
- Get a credit card with no foreign transaction fee
- Understand that foreign fees can...
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