The Wells Fargo foreign transaction fee is 0% or 3%, depending on the card. The Wells Fargo Propel American Express credit card does not have a foreign fee, but all other Wells Fargo cards charge 3%. So most people with a Wells Fargo credit card or debit card will pay an extra 3% on purchases from a foreign merchant, both in-person and online. That’s why it’s best to get a Propel card for making international purchases.
The Propel Amex card has really good rewards too. It offers 3 points per $1 spent on travel, dining and transit expenses, along with 1 point per $1 on everything else. It also has a $0 annual fee. But Propel is not the only option for avoiding Wells Fargo’s foreign transaction fees. Plenty of other credit card companies, like Chase, Citi and U.S. Bank, offer cards with no foreign transaction fees. Plus, none of the cards from Capital One, Discover or USAA charge foreign transaction fees.
The best credit cards with no annual fee and no foreign transaction fee are the Capital One VentureOne Visa and the HSBC Cash Rewards Mastercard. That’s because they offer the most rewards in addition to their lack of fees. Capital One VentureOne gives you a 20,000-mile bonus for spending $1,000 in the first three months, 10 miles per dollar at Hotels.com, and 1.25 miles per dollar everywhere else. With the HSBC Cash Rewards Mastercard, you get 1.5% cash back on all purchases. You also get a $150 initial bonus for spending $500 in the first three months, and 10% of all the cash you’ve earned over the year as an anniversary bonus … read full answer
But the best credit card with no annual or foreign fees really depends on your credit standing and what type of rewards you’re looking for. Fortunately, there’s a whole range of attractive possibilities.
Here are the best credit cards with no annual fee and no foreign transaction fee:
Travel Rewards: Capital One VentureOne Rewards Credit Card - 20,000-mile initial bonus for spending $1,000 in the first three months. 10 miles per $1 spent on hotels booked through hotels.com/venture, and 1.25 miles per $1 on all other purchases. The VentureOne card requires good credit.
Cash Back: HSBC Cash Rewards Mastercard - 1.5% cash back on all purchases. $150 bonus for spending $500 in the first 3 months, and 10% of all the cash you’ve earned in the past year as an anniversary bonus. You’ll need good credit to get the HSBC Cash Rewards Mastercard. The Capital One Quicksilver Card is a close second.
Hotel Points: Best Western Credit Card - 16,000 bonus points after you make your first purchase, and another 16,000 after your first Best Western stay. 13 points per $1 on Best Western stays, and 2 points per $1 on all other purchases. 10% discount when you book a room at the Rewards Member Rate on the Best Western site.This card requires good credit.
Airline Miles: United TravelBank Card - $150 in TravelBank cash for spending $1,000 in your first three months. Each TravelBank dollar can be redeemed for $1 toward a United flight. 2% back on United tickets, and 1.5% on all other purchases. 25% off in-flight purchases on United flights. This card requires excellent credit.
Bonus Rewards: Discover it - 5% cash back on a new set of bonus categories every three months, plus 1% cash back on all other purchases. 1st year anniversary bonus matches all the cash back you’ve earned. You need good credit to get this card.
Dining: Capital One Savor Cash Rewards Card - $150 bonus for spending $500 in your first three months of card membership. 3% cash back on dining, 2% on groceries, and 1% on all other purchases. This card requires good credit.
Students: Bank of America Travel Rewards Credit Card for Students - 20,000-point bonus for spending $1,000 in purchases within 90 days of opening your account. 3 points per $1 at the Bank of America Travel Center, and 1 point per $1 everywhere else. You can get this card with limited credit.
Small Business: Capital One Spark Cash for Business - $500 bonus for spending $4,500 on purchases within 3 months of account opening. 2% cash back on all purchases. You need excellent credit to get this card.
No Credit: Capital One QuicksilverOne Cash Rewards Credit Card - 1.5% cash back on all purchases. 50% statement credit for your Spotify Premium subscription until April 2018.
Bad Credit: Discover it Secured Credit Card - 2% cash back at restaurants and gas stations, up to $1,000 spent each quarter. 1% cash back everywhere else. 1st year anniversary bonus matches all the rewards you’ve earned. You can get this card with bad credit.
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.… read full answer
If you frequently make purchases outside of the U.S., the Cash Wise Visa would not be a worthy travel companion. The card offers at least 1.5% cash back on purchases. 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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