What is the Ink Cash card exchange rate?

The Ink Cash foreign transaction fee is 3% of each transaction in U.S. dollars. This fee is charged when the Ink Cash credit card is used outside of the United States. It applies whether it’s a purchase at a physical location in a foreign country or an online transaction through an internationally-based merchant.

Alternative Credit Card Option

If you often do business with foreign merchants, it will be best to use a credit card with no foreign transaction fee. You can check out ... read full answerour editors’ latest picks for the best among them and see which one better suits your needs.

A good option would be the Ink Business Preferred® Credit Card. Aside from a $0 foreign transaction fee, this card offers 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. You can also earn 100,000 points for spending $15,000 in the first 3 months. The card’s annual fee is $95.

Yes, the Chase Ink Cash card does earn Ultimate Rewards points. More specifically, this card earns 1 - 5% cash back spent on purchases. The points can be redeemed through the Chase Ultimate Rewards portal for cash back via statement credits, travel purchases, gift cards and more.

Ink Cash Ultimate Rewards points are worth 1 cent apiece when redeemed for everything except Amazon purchases, which give you only 0.8 cents per point. To redeem Ink Cash points through Ultimate Rewards, log in to your online account from the Ultimate Rewards portal, and you’ll see all of your redemption options at the top of the page.... read full answer

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 the credit card offers on the market don’t charge foreign transaction fees, so there’s no reason to pay the extra charge.... read full answer

• Get a credit card with no foreign transaction fee
• Understand that foreign fees can be an issue even when you’re not traveling
• Have a no foreign fee debit card handy
• Avoid converting currency at airport kiosks
• Refuse offers for dynamic currency conversion

1. Get a credit card with no foreign transaction fee.

Foreign transaction fees are charged by credit card companies and the surcharge could add as much as 4% to purchases made outside the U.S. These fees also apply to online purchases processed through international merchants. If a card charges a foreign transaction fee, it will be listed in the card’s terms and conditions.

The 10 largest credit card companies all offer at least some cards without foreign transaction fees. Plus, some issuers don’t charge these fees on any of their credit cards. Using credit cards with no foreign fees rather than cash is also a convenient, inexpensive way to avoid having to convert physical currency while traveling abroad.

2. Understand that foreign fees can be an issue even when you’re not traveling.

You don’t have to be in another country to get hit with a foreign transaction fee. If you do business online or by phone through a merchant based outside of the U.S., make sure you pay for your purchase with a no foreign fee credit card to sidestep the surcharge. If you use a card with a foreign fee, you’ll be charged this fee on top of your transaction, the same as you would if you had made the purchase at a physical location abroad.

3. Have a no foreign fee debit card handy.

You may not be able to use credit cards for all your purchases abroad, so having a debit card will allow you to get cash in the local currency when you need it. Many debit cards also charge foreign transaction fees, though. So, make sure to bring a Visa or Mastercard debit card with no foreign fee when you head out of the country.

4. Avoid converting currency at airport kiosks.

Converting your cash at an airport kiosk outside of the U.S. may be convenient, but that convenience will cost you. Currency conversions at airport-based exchange stations come with extraordinarily high fees and less-than-favorable exchange rates.

Instead, use a no foreign transaction fee credit card for most of your purchases, and a no foreign fee debit card to withdraw physical currency. These options are very convenient, and each allows you to take advantage of low Visa and Mastercard currency conversion rates automatically.

5. Refuse offers for dynamic currency conversion.

Dynamic currency conversion (DCC) is a practice in which foreign merchants may offer to charge your purchase in U.S. dollars instead of the local currency. You should never accept these offers because if the merchant converts your payment for you, they may set their own high exchange rate to increase their profits.

With that, you know the basics of how to avoid unnecessary costs when spending money internationally. If you already have a credit card that charges foreign transaction fees, there’s not much you can do to avoid them, except for not using the card abroad. Consider applying for a travel credit card with good ongoing rewards and no foreign transaction fees, instead. There are plenty of options to choose from.