Best no foreign transaction fee credit cards for 2024

Many credit cards charge foreign transaction fees, but these cards let you go on the road without the extra fees. Many credit cards don’t charge foreign transaction fees. This allows you to use your credit card anywhere it is accepted with no extra fees. Various cards have this feature, including everything from cash-back cards to premium travel cards.

Our top recommendations

• card_name: Best for infrequent travelers.
• card_name: Best for lounge access.
• card_name: Best for earning points on travel.
• card_name: Best for entertainment.
• card_name: Best for upgraded travel perks.
• card_name: Best for flat-rate cash back.
• card_name: Best for fair credit.
• card_name: Best for students.

card_name: Best for infrequent travelers

The card_name offers significant value with no annual fee, including 1.25 miles per dollar, bonus_miles and a intro_apr_rate,intro_apr_duration. In addition, rewards never expire. However, premium perks are limited, and Capital One currently doesn’t have a major U.S. airline as a transfer partner.

card_name: Best for lounge access

card_name has long been among the best premium travel credit cards available. It offers excellent lounge access and a long list of credits related to travel and everyday purchases. Even with its high annual fee, the laundry list of available credits plus its excellent rewards rate allows this card to pay for itself for the right customer. This card is tough to beat for those who like to travel in style.

card_name: Best for earning points on travel

The card_name is the more affordable version of the feature-rich card_name. At annual_fees per year (instead of annual_fees) the card_name is better suited to the middle range of travelers who will be able to take advantage of its benefits — like the lack of foreign transaction fees — but who don’t travel enough to make hundreds of dollars in annual fees worth it.

card_name: Best for entertainment

The card_name is perfect for those who prefer experiences over things. It lets you earn a high cash-back rate on various entertainment and dining-related purchases. Plus, you can earn a cash bonus welcome offer without an annual fee.

card_name: Best for upgraded travel perks

The card_name presents one of the best values for frequent travelers. Although its annual fee is high, it comes with a $300 annual travel credit, which you get back as statement credits. Its welcome offer is very lucrative, and the card has credits for various partner programs.

card_name: Best for flat-rate cash back

The card_name lets you earn a good cash-back rate on every purchase without needing to track different categories. Plus, it includes a nice welcome offer and intro APR with no annual fee.

card_name: Best for fair credit

Your options for getting a credit card can be limited if you have fair credit, especially if you don’t want to fork over the cash for a security deposit on a secured card. The card_name could be an option for those with lower credit scores, and it still lets you earn a good cash-back rate on every purchase.

card_name: Best for students

The card_name lets students earn a good cash-back rate on every purchase, and the APR and fees are in line with other Capital One cards. Also like other Capital One cards, your rewards won’t expire, and you can redeem them in any amount.

Best no foreign transaction fee credit cards 2024: Comparison

How we chose the best no foreign transaction fee credit cards

We compared card offers based on the following criteria: Rewards rates (when applicable), welcome offers (when applicable), rewards flexibility, introductory APR offers, variable APRs, annual fees, included consumer protections included, travel benefits and perks, travel insurance benefits and required credit rating.

Ultimately, we looked for credit cards that offer the most lucrative rewards structures and welcome offers, as well as flexibility within their designated rewards programs. Some cards that don't offer rewards were evaluated based on other factors, including their fee structure, introductory interest rates, and regular variable APR. In all cases benefits such as consumer protections and travel insurance perks were taken into account.

Choosing the best no foreign transaction fee credit card: Where to begin

Choosing the best no foreign transaction fee credit card can seem challenging, but following the right steps can simplify the process. Here’s what you need to get started.

Assess your travel habits

Many no foreign transaction fee cards are available, including everything from no-annual-fee cards to premium cards with luxury benefits. Start by assessing how often you travel abroad, as frequent international travelers typically get more value out of premium cards, such as those with lounge benefits.

In addition, you should consider where you usually go or plan to go in the future. Cards on networks like Visa and Mastercard are more widely accepted than American Express, especially in other countries.

Lastly, consider how you spend your money while traveling. Certain cards offer better reward rates on certain categories, such as dining, airfare and hotels. Look for a card that aligns with your spending habits while traveling abroad.

Prioritize your needs

Not everyone is looking for the same thing from a travel credit card. When choosing a no foreign transaction fee credit card, consider the kind of rewards you want, as different credit cards offer different kinds of rewards. For instance, do you prefer cash back, airline miles, hotel points or general travel points?

Different credit cards also offer different rewards and perks. These might include travel or trip cancellation insurance, purchase protection, rental car discounts or free checked bags. Look for a card with the perks you prefer.

You should also pay attention to each card’s annual fee. Those with no annual fee might be cheaper, but cards with high annual fees can pay for themselves for frequent travelers.

Compare based on criteria

Even if you know you are looking for a credit card with no foreign transaction fees, you should also consider other criteria. For instance, take a look at each card’s reward rates, bonus categories and redemption options. Also, compare the value per point or mile for each card.

In addition, weigh the fees and APRs of each card against its benefits. While the value of these benefits can be difficult to quantify, some issuers estimate the value of their cards’ benefits. Some also offer credits with specific values, which can help you estimate the value of the card’s offerings.

Eligibility by credit score

Each card issuer has different requirements, and you may have an easier time qualifying with some issuers than others. Here are some major credit issuers and their minimum credit score requirements.

How much are foreign transaction fees?

The amount you will pay in foreign transaction fees varies based on a few factors. Here are some to consider:

• Card issuer: Most card issuers charge about 3% of the transaction amount for foreign transactions—however, none of the cards mentioned earlier charge foreign transaction fees.
• Card network: Visa and Mastercard typically charge a 1% network fee on foreign transactions.
• Currency: In some cases, there may be a currency conversion fee, which varies depending on the currency and exchange rate.

For most credit cards, this amounts to a foreign transaction fee of 3%, plus a network fee of 1%, amounting to a 4% foreign transaction fee. Premium credit cards could have higher foreign transaction fees but offset them at least in part with premium perks.

As mentioned, the cards mentioned in this article don’t change any foreign translation fees, so these fees are not a concern for those cards.

Who should you get credit cards with no foreign transaction fees?

Almost anyone would benefit from a credit card with no foreign transaction fee, as these cards don’t necessarily make sacrifices to avoid these fees. However, these cards are the most beneficial for frequent international travelers.

Other than this, you should also consider a no foreign transaction fee credit card if you travel for extended periods, spend a lot of money while abroad, or want the convenience of not paying extra fees.

Some no foreign transaction fee credit cards also have benefits like excellent rewards programs and travel perks; some are even meant for those who want to build credit. As a result, many people can find a card in this category that works for them.

However, these cards aren’t for everyone. Many have annual fees, and some can have hidden fees, like currency conversion fees or inactivity fees. Some might also have lower reward rates than cards with foreign transaction fees. Check each card’s terms before signing up.

Frequently asked questions (FAQs)

What is a foreign transaction fee?

A foreign transaction fee is a fee charged by a credit card issuer on transactions outside your home country. These fees can be applied when you are outside your home country or make an online purchase from a foreign company. The typical foreign transaction fee is between 2% and 4%.

Are foreign transaction fees affected by exchange rates?

Foreign transaction fees are not directly affected by exchange rates. However, some card issuers may charge a currency conversion fee, and the fee amount may vary depending on the current exchange rate. Your purchasing power may also vary depending on the exchange rate between your home currency and the foreign currency, but this is not directly related to foreign transaction fees.

Which issuers are most widely accepted internationally?

The card issuers that are generally the most accepted internationally are Visa and Mastercard, both of which are accepted in over 200 countries and by more than 90 million merchants. While American Express is growing in its international acceptance, it lags behind Visa and Mastercard.

Will you be charged a foreign transaction fee when booking international trips online?

Whether you will be charged a foreign transaction fee in this situation depends on several factors. Regardless of the situation, if your card doesn’t charge these fees, you won’t pay them. However, you might pay a foreign transaction fee when booking trips if your card charges these fees and you book the trip with a foreign company.

When do I pay a foreign transaction fee?

You generally pay a foreign transaction fee once the transaction is authorized and processed. Typically, you will pay these fees if your card charges foreign transaction fees, and you either swipe/tap your card with a foreign merchant or make an online purchase with a foreign company. This could also occur when booking international travel or services, and you typically pay these fees at the time of booking.

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