The only Wells Fargo credit card with no foreign transaction fee for consumers is the Wells Fargo Propel American Express card. This Wells Fargo card will not add a foreign transaction surcharge to purchases made abroad or from a foreign merchant online.
Other Wells Fargo cards charge an extra 3% on international transactions, so the Propel card can save you a lot of money. In addition, Propel offers plenty of rewards on travel, so it’s especially good for using abroad. It also has a $0 annual fee.
If you’re a business owner looking for a business credit card, you’re in luck, too. As of May 2020, all of Wells Fargo’s business credit card offers have 0% foreign transaction fees, so you may want to consider adding one to your wallet if you frequently travel outside of the U.S. for business purposes.
There’s only one Wells Fargo travel card, the Wells Fargo Propel American Express card. Wells Fargo Propel is ideal for travel because it offers 3 points per $1 spent on all travel purchases, such as flights, hotel bookings and car rentals. It also offers 3 points per $1 spent on dining, as well as on gas, rideshares and transit, which are other common expenses while traveling. Cardholders can enjoy 3 points per $1 spent on streaming services and 1 on all purchases that don’t fall into any of the bonus categories, too.… read full answer
Propel is not just a good Wells Fargo travel card, but also a good travel card in general. It has a $0 foreign transaction fee, which means you won’t pay any extra when making purchases abroad. In addition, the card offers a bonus of 20,000 points for spending $1,000 in the first 3 months, which you could spend on a free flight or hotel stay. And since the card’s annual fee is $0, all the rewards you earn can go straight to paying for your travel expenses.
The Wells Fargo Cash Wise Visa and Wells Fargo Rewards Card are both decent credit card offers that give cash back or points. However, they don’t give any bonus rewards on travel purchases and both have foreign transaction fees, so the Propel card is a much better option for travel.
You can avoid foreign transaction fees by getting a credit card that doesn’t charge them. Considering that about 25% of current credit card offers don’t charge foreign fees, and those cards are available to people of all credit levels, there’s really no reason to pay these fees. The 10 largest credit card companies all offer at least some cards without foreign transaction fees. And some, like Capital One, Discover, USAA, HSBC and PenFed, don’t charge foreign transaction fees on any of their credit cards.… read full answer
Foreign transaction fees tack on as much as 4% extra to purchases made abroad, which can truly dampen a vacation. Foreign transaction fees aren’t charged by the merchant; they’re charged by the credit card company. And the fees are also charged for online purchases processed abroad, even if you’re sitting in front of your computer at home when you make the purchase. If you’re using a rewards card for purchases abroad, a foreign transaction fee will quickly negate the rewards you’re trying to rack up. The fees are declared in all credit card terms, so make sure you look for that language when you’re applying for credit cards.
That said, if you already have a credit card that charges foreign transaction fees, there’s not much you can do to avoid them, save for not using the card abroad. Consider applying for a travel credit card with good ongoing rewards and no foreign transaction fees. There are plenty to choose from.
One last thing to think about regarding foreign transaction fees: Don’t forget to find the right debit card for your travels. Many debit cards also charge foreign transaction fees and international ATM fees. But having a debit card while abroad is important, as it will allow you to get cash when you need it, which is far cheaper (and safer) than converting money at airports or banks. So make sure to bring a Visa or Mastercard debit card with a low international ATM fee and no foreign transaction fees when you head out of the country.
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