Credit Cards with No Foreign Transaction Fees and No Annual Fee
Published November 29, 2017 – Foreign transaction fees make no sense; it doesn’t cost your credit card company anything to let you use your credit card outside of the United States. Nevertheless, many persist in charging you a 3% fee for international purchases, especially if your card does not have an annual fee.
But not all credit cards! Here’s a list of credit cards with no annual fee that don’t charge the dreaded foreign transaction fee. We’ve listed our choices for the best cards first, but all will do the job:
- PayPal Cashback Mastercard – This excellent credit card should broadcast its lack of foreign transaction fees, but keeps it buried in the fine print. That’s too bad, because it’s our favorite card on this list. You’ll earn 2% cash back on all of your purchases with this one, a reward that’s hard to beat. Earnings go in to your PayPal account, where you can either use them or have them transferred to your regular bank account. Like all these cards, there’s no annual fee. Issued by Synchrony Bank.
- Capital One Quicksilver Card – Capital One does not charge foreign transaction fees on any of their credit cards, which we applaud. This card is their best, offering a flat 1.5% rebate on every purchase you make.
- Uber Visa – Nice rewards cards for the on-the-go millennial, or anyone else, really. Earn 4% back on dining purchases, 3% back on airfare and hotels, 2% for online purchases (including Uber), and 1% on everything else. And, of course, no extra fees on your international transactions. Issued by Barclaycard.
- Bank of America Travel Rewards Card – Earn 1.5 points per dollar charged to the card and redeem your points toward travel purchases at a penny-per-point rate. For example, 10,000 points earned equals a $100 credit to pay for travel purchases made with the card. And, in keeping with the travel theme, no foreign transaction fees.
- Wyndham Rewards Visa – Hotel rewards credit card has no annual fee and no fees on foreign transactions. We are also fans of Wyndham’s loyalty program, which gives you a free night at any Wyndham hotel for every 15,000 points, without a lot of fine print or exclusions. (Note that there is also a version of this card with an annual fee and greater rewards; be careful if you don’t want the annual fee.) Issued by Barclaycard.
- Amazon Visa – Good rewards card for Amazon fans, which seems to be most people these days. Get a 3% rebate on Amazon purchases (or 5% if you’re an Amazon Prime customer), 2% on purchases at restaurants, gas stations, and drug stores, and 1% back on all other purchases. And no fees on those foreign transactions. Issued by Chase.
- Citizens Bank Cash Back Plus Mastercard – Another nice credit card offering a straight 1.5% cash back formula, which you can boost up even a bit higher based on card usage and/or having other accounts with the bank.
- Capital One Venture One Rewards Card – Travel credit card gives you 1.25 “miles” per dollar charged to the card, with each point worth a penny when redeemed toward your travel purchases. Example: 10,000 points equals $100. (Note that Capital One also offers a Venture Rewards card that does have an annual fee, so be sure to get the correct one.)
- Capital One Savor Card – Reward credit card for foodies has no annual fee and no foreign transaction fees. Earn 3% cash back on dining purchases, 2% cash back on groceries, and 1% cash back on everything else.
- United TravelBank Card – This no annual fee credit card from United Airlines and Chase has no foreign transaction fees, but don’t mistake it for other United credit cards that have annual fees. In fact, this card does not even earn United MileagePlus miles. Instead, you’ll earn 2% in TravelBank dollars on United purchases, and 1.5% back on all other purchases. These TravelBank dollars can then be used like cash to pay for United purchases. While it’s not a terrible rewards formula, you are restricted to using your rewards on United purchases, when in reality this is simply a cash back card with a formula worse than many others on the market. (Compare other cash back cards here.)
- Capital One Platinum Mastercard – While the name of this card suggests high-end appeal, in reality it is a card targeted to “average” credit customers who either don’t have a credit track record or have had some credit issues in the past. It has a high 24.99% interest rate and no rewards. On the upside, no annual fee and no foreign transaction fees.