Credit Cards with No Foreign Transaction Fee - 2017's Best
There are ultimately many reasons to get a credit card with no foreign fees before traveling abroad or making purchases through an internationally based merchant. Here are some of the most important:
5 Reasons To Get One of 2017's Best Credit Cards with No Foreign Transaction Fee
- Most credit cards charge foreign fees. More than 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.
- Foreign fees erode rewards. The average foreign fee is just over 2% 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.
- 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.
- 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 credit card with no 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.