It doesn’t offer much in the way of welcome offers or introductory APRs, but it does offer a strong list of spending categories to earn rewards. Why We Like It: Being the Costco fanatic that he is, Clark has this card in his wallet. Top Perks: Damage and theft purchase protection.Rewards Program Highlights: 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year (then 1%), 3% cash back on restaurants and travel and 2% cash back on anything purchased at Costco or on.Annual Fee: None but Costco membership is required.This card is on our list of best cash back credit cards. They include signing up for a checking account and maintaining “Tier One” status to receive the 2.5% rewards. There are some hoops to jump through, though. Why We Like It: The 2.5% cash back on purchases regardless of spending category is really good. Top Perks: You get an auto rental collision damage waiver, and you may qualify for a lower-than-average APR thanks to the credit union affiliation.Rewards Program Highlights: You get 2.5% cash back on all purchases for up to $10,000 in spending per billing cycle.You can read more on our methodology for determining the best cards with no foreign transaction fees here. Beyond the facts that these cards carry no foreign transaction fees, we also considered annual fees, card features and rewards programs when curating this list. Team Clark spent hours reviewing the market for these cards, and we put them under the scrutiny of the guidelines for credit card usage set by money expert Clark Howard. Though the card carries a high annual fee, it offers premium travel perks worth over $1,400. Welcome bonus and $300 annual travel credit make it easy to justify the annual fee. With an annual fee of only $95, this card has a strong combination of perks and rewards multipliers on travel spending. Best “No Foreign Transaction Fees” Cards With No Annual Fee OUR TOP CHOICEĪlliant Cashback Visa® Signature Credit CardĮarn 2.5% cash back on purchases with no category restrictions.Įarn 4% back on gas or EV charging and 3% back on restaurants and eligible travel.Īmazon Prime members earn 5% back on purchases through Amazon or Whole Foods.īest “No Foreign Transaction Fees” Cards for Serious Travelers OUR TOP CHOICEĬapital One Venture X Rewards Credit Card This should help both recreational travelers who are looking for a simple rewards card they can take abroad as well as serious travelers who are looking for a card they can use during their frequent trips out of the country. ![]() In this article, I’ll identify a few of Team Clark’s favorite “no foreign transaction fee” credit cards that could fit either spending style.īest Credit Cards With No Foreign Transaction Feesįor this review, we divided the “best” into two separate categories: no annual fee cards and premium travel cards. Some of the best rewards credit cards on the market let you use them outside the United States without charging you a percentage of the transaction for processing.īut picking the right one for your wallet could be complicated.Īre you looking for a travel credit card that will provide other useful benefits, or are you a better candidate for a cash back credit card that just happens to offer the perk? The former often includes a hefty annual fee, while the latter can be had with no annual fee. This might not seem like much, but an extra 3 per cent on top of each of your individual vacation expenses can quickly add up.Are you planning a trip abroad and looking for a credit card that won’t ding you for foreign transaction fees? Then, the issuer will charge another 2 per cent on top of that, equalling $103 or Dh378. Based on that amount, MasterCard will charge 1 per cent on top of each purchase. With the currency conversion, this works out to $100 (Dh367). ![]() Here’s another example: Imagine you pay 82 euros (Dh317) while on vacation in Spain, using a card on the MasterCard network that has a 2 per cent issuing bank fee. For example, your total fee might be 3 per cent, with 1 per cent consisting of the currency conversion fee and 2 per cent accounting for the transaction fee. Often the foreign transaction fee you pay includes the currency conversion fee. At times the foreign transaction fee is also called a foreign exchange fee. The actual cost to you will be higher than Dh1,000 worth of euros, depending on your card-specific policy. Alternatively, suppose you run out of cash and decide to use an ATM that charges a 3 per cent transaction fee to obtain Dh1,000 equivalent in euros. With a 3 per cent foreign transaction fee, when you receive your statement online, you will notice a surcharge. Let’s say you travel to Singapore, spend the equivalent of Dh1,000 in a department store, and charge the purchase to your credit card or pay for it with your debit card.
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