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Traveling outside the country? Buying anything in a foreign currency? Get a credit card with no foreign transaction fees to avoid paying extra on every purchase.
By Brendan Harkness
Besides having no foreign transaction fee, of course, here are some features to look for.
By Brendan Harkness
Do you often find yourself traveling outside the United States? Are you planning to make any purchases in a foreign currency?
If you answered yes to either of these questions, a credit card with no foreign transaction fees would probably be useful to you.
Foreign transaction fees are a cost that you should do your best to avoid — and luckily, that’s pretty easy to do.
You’ll often find this feature on travel rewards credit cards, designed for traveling abroad, but there are quite a few others that share it as well. And many of these cards don’t have annual fees either, which means you don’t need to pay a cent when using them as long as you avoid interest.
There are four credit card issuers that don’t include foreign transaction fees on any of their cards. These issuers are:
Remember that different credit card networks tend to have more or less worldwide acceptance. Visa cards and Mastercards are accepted nearly everywhere, while American Express acceptance is more limited (but growing — think big cities and tourist attractions). Discover doesn’t have great acceptance outside the U.S., but it is accepted at many merchants that use the JCB or UnionPay networks, which are massive in Asia.
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The information related to American Express® Gold Card, Capital One® Savor® Cash Rewards Credit Card, Capital One® VentureOne® Rewards Credit Card, Hilton Honors Aspire Card, Capital One® Venture® Rewards Credit Card, Citi Premier℠ Card, The Platinum Card® from American Express, Citi Prestige® Card, Capital One® Quicksilver® Cash Rewards Credit Card, Capital One® SavorOne® Cash Rewards Credit Card, Hilton Honors American Express Card, and Marriott Bonvoy Brilliant™ American Express® Card have been collected by Credit Card Insider and have not been reviewed or provided by the issuer or provider of these products.