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WalletHub 4 Best No Foreign Transaction Fee Credit Cards (2023)
WalletHub experts track 1,500+ offers to help you get the right card with no foreign transaction fees
Credit cards with no foreign transaction fees save users an average of 3% on purchases processed abroad, according to WalletHub research. The best credit cards with no foreign transaction fees also offer valuable rewards, providing even more savings, and WalletHub experts have found that using a no foreign fee credit card is the best way to convert currency while traveling abroad (some cards are from WalletHub partners).... show more
Best Credit Cards With No Foreign Transaction Fees (June 2023)
- Winner: Chase Sapphire Preferred® CardChase Sapphire Preferred® CardLearn MoreLearn Moreon issuer's website
- Rates & FeesNo Annual Fee: Discover it® MilesDiscover it® MilesLearn MoreLearn Moreon issuer's website
- Rates & FeesGood Credit: Citi Premier® CardCiti Premier® CardLearn MoreLearn Moreon issuer's website
- Travel Rewards: Capital One Venture Rewards Credit CardCapital One Venture Rewards Credit CardLearn MoreLearn More
FILTER NO FOREIGN TRANSACTION FEE CREDIT CARDS
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- 20,000 miles initial bonus
- Unlimited 1.25 miles per $1 on every purchase
- Miles are redeemable for any travel-related expense on your bill
- 0% intro APRs
- No annual fee
- Balance transfer fee
- Potential for a very high regular APR
- $200 initial bonus
- 1.5% cash back on all purchases
- No annual fee
- 0% intro APR on purchases and balance transfers
- Potential for a very high interest rate
- Balance transfer fee
- Requires good/excellent credit
- 20,000-point initial bonus
- 3 points / $1 spent in bonus categories
- $0 annual fee
- 0% for 12 months from account opening on purchases intro offer
- $600 in cell phone protection (subject to a $25 deductible)
- 19.99% - 29.99% Variable regular APR
- No balance transfer promotion
- $200 initial bonus
- High rewards rate
- $0 annual fee
- 0% intro APR on purchases and balance transfers
- High regular APR
- Balance transfer fee
- Requires good/excellent credit
- 25,000 points initial bonus ($250 in travel)
- 1.5 points / $1 spent
- No annual fee or foreign transaction fees
- User-friendly travel rewards redemption
- Very high regular APR
- Requires excellent credit
- Rewards earned in the first year get doubled
- Up to 5% cash back
- No annual fee
- 0% intro rates for 15 months
- Potential for a very high regular APR
- Bonus reward categories rotate, require quarterly signup and limit earnings
- Balance transfer fee
- Attainable initial bonus
- 6,000-point annual anniversary bonus
- Strong earning rates for people who fly often and always with Southwest
- $99 annual fee
- High regular APR
- 60,000 points - initial bonus
- Up to 6.25% back when redeeming for travel
- No foreign transaction fees
- $95 Annual fee
- 1 point per $1 base earn rate
- $0 annual fee
- 1.5 miles per $1
- First-year rewards get doubled
- 0% foreign transaction fee
- Intro APRs on purchases and balance transfers
- High regular interest rate
- Not as rewarding after the first year
- No membership fees
- 0% intro APR on balance transfers
- No balance transfer fee
- High rewards rate
- No intro APR on purchases
WalletHub's Research
Why people trust WalletHub
Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards. WalletHub makes it easy to find the best no foreign transaction fees credit cards.
Our picks for best no foreign transaction fee credit cards
Chase Sapphire Preferred® Card
Why We Like It: The Chase Sapphire Preferred® Card is the best no foreign transaction fee credit card overall. Chase Sapphire Preferred offers one of the best travel rewards bonuses on the market right now: 60,000 points (worth up to $750 in travel through Chase) in return for new cardholders making $4,000 in purchases within 3 months of opening an account. The card also rewards users with 1 - 5 points per $1 on purchases normally.
What We Don’t Like: The Sapphire Preferred Card has an annual fee of $95 and a high APR.
Who Should Get It: Apply for Chase Sapphire Preferred if you have good credit or better, like to travel, and will be able to qualify for the initial bonus without overspending.
Alternatives to Consider: The Chase Sapphire Reserve® is a luxury travel card, while the Capital One Venture Rewards Credit Card is more affordable.
Capital One Venture Rewards Credit Card
Why We Like It: The Capital One Venture Rewards Credit Card is one of the best credit cards with no foreign transaction fees because it offers an initial bonus of 75,000 miles (after spending $4,000 in the first 3 months), and an ongoing rewards rate of 2 - 5 miles per $1 spent on purchases.
Capital One Venture has an assortment of highly rated international travel benefits, too. For example, Capital One will automatically detect when you’re traveling, so you don’t have to notify them. And if you lose your card while traveling abroad, you can get Capital One to send an emergency replacement for free.
What We Don’t Like: There is an annual fee of $95 and a high APR.
Who Should Get It: Apply for Capital One Venture if you have good credit or better and you like to travel but would rather not commit to a single airline or hotel chain. With Capital One Venture, you can redeem miles to pay for pretty much any travel-related charge that shows up on your bill.
Alternatives to Consider: The Capital One VentureOne Rewards Credit Card is the no annual fee version of this offer.
Discover it® Miles
Why We Like It: Discover it® Miles is one of the best credit cards with no foreign transaction fee and no annual fee. It also offers very attractive rewards, giving 1.5 miles per $1 normally and matching the rewards cardholders earn the first year.
What We Don’t Like: This card isn’t as attractive after you’ve gotten your first-year bonus, and carrying a balance from month to month will get expensive after the card’s low-interest promotion ends. Plus, Discover is not as widely accepted abroad as Visa or Mastercard, for example, so make sure Discover cards are accepted in your international travel or shopping destination of choice.
Who Should Get It: Consider applying for Discover it Miles if you’re planning a big year of spending as well as some travel to destinations where Discover is popular.
Alternatives to Consider: The Capital One VentureOne Rewards Credit Card is another good travel rewards credit card with no annual fee and no foreign transaction fee.
Citi Premier® Card
Why We Like It: The Citi Premier® Card has a 0% foreign transaction fee and a big initial bonus: 60,000 points (worth $600 in gift cards or travel rewards at thankyou.com), which new cardholders can get by spending $4,000 within 3 months of opening an account.
This card also gives 3 points per $1 spent on air travel, hotel stays and gas station purchases, among other ongoing rewards.
What We Don’t Like: The Citi Premier Card has a $95 annual fee and a high APR.
Who Should Get It: Consider applying for Citi Premier if you have good credit or better, can comfortably qualify for the initial bonus, and will be able to take advantage of the ongoing bonus rewards rates.
Alternatives to Consider: The Chase Sapphire Preferred® Card is another great option for bonus rewards points with no foreign fee.
Discover it® Student chrome
Why We Like It: Discover it® Student chrome is one of the best student credit cards with no foreign transaction fee because it has a $0 annual fee to go along with its 0% foreign fee. It also offers 1 - 2% cash back in rewards on purchases and matches the rewards that you earn the first year your account is open.
What We Don’t Like: The rewards won’t be great after the first year if you don’t regularly make purchases from gas stations and restaurants. Plus, the regular interest rate will make carrying a balance from month to month expensive after the introductory APR promotions expire.
Who Should Get It: Consider applying for Discover it Student chrome if you’re a student who plans to use the card for gas station and restaurant purchases, among other expenses.
Alternatives to Consider: The Capital One SavorOne Student Cash Rewards Credit Card and the Bank of America® Travel Rewards credit card for Students are two more student credit cards with good rewards and no foreign fees.
Ink Business Preferred® Credit Card
Why We Like It: The Ink Business Preferred® Credit Card is among the most rewarding business credit cards on the market right now, and it has a $0 foreign transaction fee. Among the card’s best features is an initial bonus of 100,000 points, which new cardholders can get by spending $15,000 within 3 months of opening an account. Cardholders also earn 1 - 3 points per $1 spent on purchases normally.
What We Don’t Like: There is an annual fee of $95 and a high APR.
Who Should Get It: Consider applying for Chase Ink Preferred if you’re a business owner with good personal credit or better who travels often.
Alternatives to Consider: Capital One Spark Miles for Business is another good option for international business travel.
Best No Foreign Transaction Fee Credit Cards Comparison
| Credit Card | Best For | Annual Fee |
| Chase Sapphire Preferred® Card | Winner | $95 |
| Discover it® Miles | No Annual Fee | $0 |
| Discover it® Student chrome | Students | $0 |
| Capital One Venture Rewards Credit Card | Travel Rewards | $95 |
| Citi Premier® Card | Good Credit | $95 |
| Ink Business Preferred® Credit Card | Business | $95 |
Whether you’re traveling abroad or making purchases through an internationally based merchant, there are many reasons to get a credit card with no foreign fees. Let’s take a look at some of the most important.
5 Reasons to get a card with no foreign transaction fee
- Most credit cards charge foreign fees. About 70% of cards have foreign fees, according to our database. So if you don’t seek out a no foreign fee card, chances are you won’t get one. And no one wants to pay an extra 2% or 3% if they don’t have to.
- Credit cards have the best exchange rates. Any Visa or Mastercard credit card will help you save time and money – up to 11% – relative to converting hard currency at a local bank or an airport kiosk. But a foreign fee would limit your savings.
- Foreign fees erode rewards. The average foreign fee is about 1.53% of the amount you spend, according to our latest Credit Card Landscape Report, but many cards charge 3%. The average cash back credit card, on the other hand, gives you just over 1% back.
- Pickpockets won’t be as scary. If someone robs you of cash while you’re in a foreign country, there’s not much you can do about it. That money is gone. But if someone steals your credit card, you can request an overnight replacement, and you won’t be held liable for any unauthorized charges.
- You won’t have to sacrifice. Getting a card without foreign transaction fee does not mean giving up hopes of earning rewards or avoiding interest. Many of the market’s best credit cards do not charge foreign fees, so you can still find a great deal for your particular needs.
How we picked the best no foreign transaction fee credit cards
To identify the best credit cards with no foreign transaction fees, WalletHub’s editors regularly compare more than 1,500 credit card offers. We start by excluding all the offers with foreign fees and then calculate expected cardholder savings for the remaining options. This enables us to find the best no foreign transaction fee credit cards in different usage categories, from cards for frequent travelers to offers with no annual fee.
The competition
There are lots of really good no foreign transaction fee credit cards offers on the market right now. The following offers didn’t quite make the cut for our editors’ best-card selections, but they can still save cardholders a lot of money.
| Info |  IHG® Rewards Premier Credit Card |  Chase Sapphire Reserve® |  Bank of America® Premium Rewards® credit card |
|---|---|---|---|
| Annual Fee | $99 | $550 | $95 |
| Bonus Offer | 140,000 points | 60,000 points | 60,000 points |
| Rewards Rate | 3 - 10 points / $1 | 1 - 10 points / $1 | 1.5 - 2 points / $1 |
| Purchase Intro APR | N/A | N/A | N/A |
| Transfer Intro APR | N/A | N/A | N/A |
| Regular APR | 20.99% - 27.99% (V) | 22.24% - 29.24% (V) | 19.99% - 26.99% Variable |
| Editors' Rating | 4.4 | 4.4 | 4.8 |
| Details, Rates & Fees | Learn More | Learn More | Learn More |
About the author
John S Kiernan
Sources
WalletHub actively maintains a database of 1,500+ credit card offers, from which we select the best no foreign transaction fee credit cards for different applicants as well as derive market-wide takeaways and trends. The underlying data is compiled from credit card company websites or provided directly by the credit card issuers. We also leverage data from the Bureau of Labor Statistics to develop cardholder profiles, used to estimate cards’ potential savings.
Best No Foreign Transaction Fee Credit Cards FAQ
Comparing no foreign fee credit card can be tough. But you’ve got the knowledgeable WalletHub community on your side. We encourage everyone to share their knowledge while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not the financial institution’s responsibility to ensure all posts and questions are answered.show more
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Which bank does not charge foreign exchange fees? Reply
One of the major banks that do not charge a foreign exchange fee on their credit cards and debit cards is Capital One. A foreign exchange fee is typically a 1% fee that is charged when making a purchase while in a foreign country or when doing business with a foreign merchant while in the U.S. You can also incur the fee when you are transferring funds from a U.S. bank to one that’s overseas. It may be difficult to see how much the foreign exchange fee is for some banks, as that fee is wrapped into the foreign transaction fee.
The best way to avoid paying a foreign exchange fee is to get a card that doesn’t charge a foreign transaction fee. Below, you’ll see a list of banks that don’t charge foreign fees on any of their credit cards, followed by WalletHub’s editors’ picks for the best no foreign transaction fee credit cards.
Banks That Don’t Charge Foreign Exchange Fees
- Capital One
- HSBC (credit cards and some debit cards)
- USAA (only on credit cards)
Best No Foreign Transaction Fee Credit Cards
- Best Overall: Capital One Venture Rewards Credit CardCapital One Venture Rewards Credit CardLearn MoreLearn More
- No Annual Fee: Bank of America® Travel Rewards credit cardBank of America® Travel Rewards credit cardLearn MoreLearn Moreon issuer's website
- Best for International Travel: Chase Sapphire Preferred® CardChase Sapphire Preferred® CardLearn MoreLearn Moreon issuer's website
- Best for Businesses: Ink Business Preferred® Credit CardInk Business Preferred® Credit CardLearn MoreLearn Moreon issuer's website
Using a credit card with no foreign transaction fees can also help with currency conversion costs, saving travelers up to about 9% compared to exchanging hard currency.
Having a credit card and a debit card with no foreign transaction fee is just one way to avoid extra costs while shopping abroad. To see some other ways, check out WalletHub’s tips for avoiding foreign transaction fees.
How do I avoid foreign transaction fees? Reply
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...
Does my credit card have foreign transaction fees? Reply
Your credit card will likely have a foreign transaction fee of around 3% if it is from Chase, PNC, Bank of America, Barclays or U.S. Bank, which charge foreign fees on most (but not all) of their cards. Your credit card will not have a foreign transaction fee if it is from Capital One, Discover, USAA, PenFed or HSBC.
Credit Card Issuers That Do Not Charge Foreign Transaction Fees
Do all Capital One cards have no foreign transaction fee? Reply
Yes, all Capital One cards have no foreign transaction fees. Capital One is one of several top credit card issuers that don’t charge foreign fees on any of their credit cards, along with Discover, HSBC, USAA, and PenFed. But most credit cards overall still have them. The average foreign transaction fee is about 1.53%.
Credit cards consistently give the best foreign currency exchange rates. So not having to worry about paying an extra 1-3% on...
How much are Visa foreign transaction fees? Reply
The Visa foreign transaction fee is usually either 0% or 3%, depending on which Visa credit card or debit card you have. The Visa foreign transaction fee is typically 0% on travel rewards credit cards, which are built for spending all around the world. And some credit card companies, such as Capital One, don’t charge foreign fees on any of their cards, Visa or Mastercard. But many other Visa cards come with foreign transaction fees of 1%,...
What is the Mastercard foreign transaction fee? Reply
The Mastercard foreign transaction fee is usually 0% or 3%, depending on which card you have and the bank or credit union that issued it.
Here’s how the Mastercard foreign transaction fee works:
The Mastercard foreign transaction fee comes in two parts. Mastercard, as the credit card network, always charges a 1% fee. Then, the credit card issuer can choose to add their own fee on top of that, or cover Mastercard’s...
How much is the Bank of America Cash Rewards foreign transaction fee? Reply
The Bank of America Customized Cash Rewards credit card foreign transaction fee is 3%. The card’s foreign transaction fee can apply whether you travel to another country or you go shopping internationally through your computer.
Not every Bank of America credit card charges foreign transaction fees. The Bank of America® Travel Rewards credit card card has 0% foreign fees, for example, as does the Bank of America® Premium Rewards® credit card. So, they are better options to use for foreign purchases than Bank of America Customized Cash Rewards credit card.
Bank of America Customized Cash Rewards credit card Foreign Transaction Fee Info:
- Foreign transaction...
Featured Credit Cards
Expert Opinions
- Do credit card companies lose money by not charging foreign-transaction fees?
- Do credit cards with no foreign fee just make up for it with other charges?
- Do you think most people know whether their credit cards have foreign-transaction fees?
- Are there any other pitfalls people should watch out for once they have a no-foreign-fee credit card?
- Do people who get credit cards in other countries have to pay foreign fees in the U.S.?
- Does it cost card issuers/networks more to process international transactions than domestic ones?
Department of Economics, School of Business, Southern Connecticut State University
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Ph.D., Assistant Professor of Economics, Else School of Management, Millsaps College
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Ph.D., Associate Professor of Finance, School of Business, Middle Georgia State University and Financial Planner at The Piedmont Group
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Ph.D., Economics Professor/ Division Chairperson, College of Business and Health Administration, University of Saint Francis
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Ph.D., Professor of Finance, Department of Accounting & Finance, Feliciano School of Business, Montclair State University
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Miriam K. Carliner Chair and Senior Fellow in Economic Studies, The Brookings Institution
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