The Wells Fargo Cash Wise foreign transaction fee is 3%. The fee is added to the total amount of any transaction made outside of the United States or through an internationally-based merchant online. The fee is within the 1%-3% range that other issuers charge for foreign transactions.
The Cash Wise Visa is one of six Wells Fargo consumer credit cards that charges a 3% foreign transaction fee. The Wells Fargo Propel American Express card is the only consumer card does not charge a fee on international purchases. Wells Fargo’s three business cards, Business Platinum, Secured and Elite, also do not charge a foreign transaction fee.
If you frequently make purchases outside of the U.S., the Cash Wise Visa would not be a worthy travel companion. The card offers 1.5% cash back on purchases and a $200 cash bonus when you spend $1,000 in the first 3 months. However, any rewards earned will be reduced, if not wiped out completely, by a 3% fee tacked on to each international transaction.
Propel would appear to be the better option within the Wells Fargo family. But since it’s an American Express card, its usage is limited to about 160 countries and territories. Visa, on the other hand, is accepted in more than 200 countries, and Mastercard is good in more than 210.
Here’s the Wells Fargo Cash Wise foreign transaction fee:
Wells Fargo Cash Wise Foreign Transaction Fee: 3%
When It Applies: Transactions processed internationally, in-person and online.
International Acceptance: 200+ countries and territories
Annual Fee: $0
The best Wells Fargo credit card with no foreign transaction fee is the Wells Fargo Propel American Express card because it gives 30,000 points for spending $3,000 in the first 3 months and has a None annual fee, in addition to a $0 foreign fee. There are lots of really good options from other credit card companies, too. So make sure to shop around.
For example, the Capital One Venture Rewards Card offers 50,000 miles for spending $3,000 in the first 3 months. Plus, it gives 10 miles per $1 at hotels.com/venture and 2 miles per $1 on all other purchases. It has a $0 annual fee for the first year and $95 after.
The Wells Fargo Cash Wise foreign transaction fee is not uncommon, as nearly 90 percent of all credit cards on the market charge extra for international purchases. Capital One and Discover cards are among the best alternatives because they are two of only a handful of major issuers that do not charge foreign transaction fees on any of their cards. Credit cards from USAA, HSBC, and BECU also come with no foreign transaction fee.
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