Best Credit Cards With No Foreign Transaction Fees

Erika's Picks for Best Credit Cards With No Foreign Transaction Fees

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Next time you return from an overseas vacation, what are the chances you’ll call your credit card issuer and ask them to tack an extra 3% onto the bill for everything you bought while you were away?

Probably nil. 

But voluntarily adding a surcharge to your purchases is basically what happens if you travel internationally and pay for stuff with a credit card that charges foreign transaction fees. 

Fortunately, there are loads of no-foreign-transaction-fee credit cards out there that can help you avoid these surcharge shenanigans and keep your travel expenses low. 

Chase Sapphire Preferred® Card

Rewards Rate
  • 5x on travel purchased through Chase Travel℠
  • 3x on dining, select streaming services and online groceries
  • 2x on all other travel purchases
  • 1x on all other purchases
Welcome Offer

Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening.

Annual Fee

$95

Aside from not charging foreign transaction fees, the Chase Sapphire Preferred® Card checks off other essential boxes for international travelers, making it one of the best travel credit cards on the market.

The card comes with key travel insurance coverages, appealing transfer partners for its points, and high rewards rates in purchase categories where you likely spend a lot of money.

The annual fee is also relatively modest, so even the thriftiest international traveler should earn enough back in rewards points to make up for it each year.

However, keep in mind there’s no airport lounge access and the rewards rate is relatively low for flights or hotels booked outside of Chase Travel℠.

LEARN MORE: Chase Sapphire Preferred® Card

We love that Chase Ultimate Rewards® points earned by the Chase Sapphire Preferred® Card transfer to popular international airlines and hotel networks, like United Airlines, Air Canada, and Marriott.

Also, your point values increase by 25% when you redeem through Chase Travel℠, so you can really maximize your rewards if you frequently book trips with Chase.

Finally, the card includes three of the most important types of travel insurance: flight delay, baggage delay, and trip cancellation coverage.

LEARN MORE: Chase Sapphire Preferred® Card

Capital One Savor Cash Rewards Credit Card

Rewards Rate
  • 8% cashback on Capital One Entertainment purchases
  • 5% on hotels and rental cars booked through Capital One Travel
  • 3% on dining, entertainment, select streaming subscriptions, and grocery store purchases (excluding superstores)
  • 1% on all other purchases
Welcome Offer

Earn a one-time $200 cash bonus after spending $500 in the first 3 months

Annual Fee

$0

Enhanced cashback rates in six distinct purchase categories make the Capital One Savor Cash Rewards Credit Card one of the best cashback cards out there.

And its combination of cashback with no foreign transaction fees is unusual, making it useful for anyone who loves to travel but prefers the ease of cashback instead of rewards points.

One downside, however, is that since it’s not a travel card, its travel insurance is very limited, with only travel accident insurance available.

LEARN MORE: Capital One Savor Cash Rewards Credit Card

The strong cashback rates for both dining and groceries make the Capital One Savor Cash Rewards Credit Card a smart pick for international travelers of all stripes: casual travelers, digital nomads, expats, etc.

And unlike some competitors, its elevated cashback rate for grocery stores applies all over the world, not just stateside. (However, note that the high cashback rate on groceries doesn’t apply to “superstores” like Walmart or Target, and predicting what counts as a superstore overseas can be tricky.)

While not charging foreign transaction fees has become the norm among travel rewards cards, it’s less common among cashback cards, making the Savor really stand out.

LEARN MORE: Capital One Savor Cash Rewards Credit Card

Capital One Quicksilver Secured Cash Rewards Credit Card

Rewards Rate
  • 5% cashback on hotel and rental car bookings through Capital One Travel
  • 1.5% cashback on every purchase
Welcome Offer

None

Annual Fee

$0

Minimum security deposit

$200

Secured credit cards usually aren’t thought of as being particularly lucrative or travel-oriented.

But the Capital One Quicksilver Secured Cash Rewards Credit Card lets people with imperfect credit build their credit score, earn rewards, and make foreign currency purchases with no surcharge.

And surprisingly enough, the Quicksilver Secured Card’s flat cashback rate is even competitive with many unsecured credit cards (cards that don’t require you to make a security deposit).

LEARN MORE: Capital One Quicksilver Secured Cash Rewards Credit Card

The flat cashback rate on the Capital One Quicksilver Secured Cash Rewards Credit Card is exceptional for a secured card.

Plus, the preapproval process lets you see if you’ll likely be approved for the card without a hard credit check and your credit limit can increase after six months of responsible card use.

While there are other secured cards with a lower minimum security deposit (like the Capital One Platinum Secured Credit Card), you typically won’t earn rewards.

LEARN MORE: Capital One Quicksilver Secured Cash Rewards Credit Card

Bank of America® Travel Rewards Credit Card for Students

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Rewards Rate
  • Unlimited 1.5 points for every $1 on all purchases
Welcome Offer

25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening — which can be redeemed for a $250 statement credit toward travel and dining purchases

Annual Fee

$0

Students planning a semester abroad or an overseas summer escape should bring the Bank of America® Travel Rewards Credit Card for Students along for the ride, as it offers benefits you’d expect from a non-student travel card but is nonetheless available to students with limited credit history.

The downside is Bank of America points don’t transfer to airline or hotel loyalty programs like some other issuer programs, so you can’t increase the value you get for your points above one cent each.

As well, the card doesn’t have any travel insurance, so you’ll need to add on your own insurance package for any trips you’re planning.

The features of the Bank of America® Travel Rewards Credit Card for Students are virtually identical to BofA’s non-student travel rewards card.

You can redeem points for travel and restaurant purchases you’ve already made at a value of one cent per point, giving it cashback-like functionality.

Plus, its flat rewards rate makes it a good fit for students with diverse or unpredictable budgets.

Capital One Spark Miles for Business

Rewards Rate
  • 5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel
  • Unlimited 2x miles on everything else
Welcome Offer

50,000 bonus miles when you spend at least $4,500 in the first three months

Annual Fee

$0 for the first year; $95 after that

Flexible miles and a strong flat rewards rate make the Capital One Spark Miles for Business a great pick for small businesses that require a moderate amount of international travel.

The card earns Capital One miles, which can be retroactively redeemed against a travel purchase for a value of one cent per mile or transferred to other travel loyalty programs for potentially greater value.

However, note that the airline transfer partners are all based overseas, so they may not be ideal for businesses that require more domestic than international travel.

LEARN MORE: Capital One Spark Miles for Business

The rewards structure of the Capital One Spark Miles for Business benefits businesses with varied budgets, since it earns a flat rate on all purchases. (Unfortunately, this also means it doesn’t earn miles at an elevated rate for common business purchases like gas, office supplies, or advertising.)

Your rewards are also flexible since Capital One miles transfer to 18 airline and hotel loyalty programs, including programs for popular brands like British Airways, Turkish Airlines, and Wyndham Hotels & Resorts.

Finally, there are several other travel perks that come with the card. For example, when you book a stay at a hotel within Capital One Travel’s Lifestyle Collection, you’ll get a $50 credit toward dining, drinks, or other qualifying hotel expenses.

LEARN MORE: Capital One Spark Miles for Business

Bottom Line: Which No-Forex Fee Card Is Right for You?

When it comes to “musts,” a no-foreign-transaction-fee credit card is right up there with a universal power adapter and an inflatable neck pillow on any international traveler’s packing list.

Your optimal card choice will depend on your credit score, whether you travel for business or pleasure, and how frequently you go abroad. But any option you choose will help you save money on foreign currency purchases, provided you use the card responsibly.

Foreign transaction fees are charges incurred when you use certain credit or debit cards to make purchases in a currency other than your own (i.e., U.S. dollars if you’re American).

A typical foreign transaction fee is 3% of a foreign currency purchase amount, and it can apply to both purchases made overseas and online purchases from foreign merchants.

If a credit or debit card issuer says its card has “no foreign transaction fee,” that means you can use that card to make purchases in a foreign currency without the issuer adding a surcharge.

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Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

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I'm an award-winning lawyer and personal finance expert featured in Inc. Magazine, CNBC, the Today Show, Business Insider and more. My mission is to make personal finance accessible for everyone. As the largest financial influencer in the world, I'm connected to a community of over 20 million followers across TikTok, Instagram, YouTube, Facebook and Twitter. I'm also the host of the podcast Erika Taught Me. You might recognize me from my viral tagline, "I read the fine print so you don't have to!"

I'm a graduate of Georgetown Law, where I founded the Georgetown Law Entrepreneurship Club, and the University of Notre Dame. I discovered my passion for personal finance after realizing I was drowning in over $200,000 of student debt and needed to take action-ultimately paying off my student loans in under 2 years. I then spent years as a corporate lawyer representing Fortune 500 companies, but I quit because I realized I wanted to have an impact; I wanted to help real people and teach them that you can create a financial future for yourself.

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Advertiser Disclosure

Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Advertiser Disclosure

Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.