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Best credit cards with no foreign transaction fees for August 2024

Kendall Little
·Senior Writer, Credit Cards
7 min read

While rewards and savings may be top of mind when choosing the right credit card to take on your next trip, don’t underestimate the value of another key benefit: no foreign transaction fees. When these fees do apply, they can cost as much as 3% of your total transaction — every time you make a purchase abroad. Choosing a card that waives foreign transaction fees can help you save a lot of money while traveling internationally.

  • Annual fee
    $0
  • Welcome offer
    Earn $200 cash back after spending $500 on purchases in the first 3 months
  • Card type(s)
    Cash-back, Rewards
  • Introductory APR
    0% intro APR on purchases and balance transfers for 15 months, then variable 19.99% - 29.99% APR
  • Purchase APR
    19.99% - 29.99% variable
  • Recommended credit score
    Good, Excellent
  • Rewards rate
    • 8% cash back on Capital One Entertainment purchases
    • 5% cash back on hotels and rental cars booked through Capital One Travel
    • 3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart and Target)
    • 1% cash back on all other purchases
  • Benefits
    • Get a 0% APR on purchases and balance transfers for the first 15 months
    • Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024

Why we like it: The SavorOne card earns the most rewards in bonus categories that are bound to benefit you while traveling abroad. Whether you like to try new restaurants in each city you visit or shop locally to prepare your own meals, you’ll get 3% on your food spending. But we especially like how broad the “entertainment” category is, including tickets to tourist attractions, theater shows, amusement parks, and more. Best of all, there’s no annual fee to offset all the rewards you’ll earn.

  • Annual fee
    $95
  • Welcome offer
    Earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months (that's $750 when you redeem through Chase Travel?)
  • Card type(s)
    Travel
  • Ongoing Purchases APR
    21.49% - 28.49% Variable
  • Recommended credit score
    Excellent/Good
  • Rewards rate
    • 5x points on travel purchased through Chase Travel
    • 3x points on dining, select streaming services, and online groceries
    • 2x points on all other travel purchases
    • 1x points on all other purchases
  • Benefits
    • Points are worth 25% more when you redeem for airfare, hotels, car rentals and cruises through Chase Travel
    • Earn up to $50 in annual statement credits for hotel stays purchased through Chase Travel
    • On every account anniversary, earn bonus points equal to 10% of your total purchases made the previous year

Why we like it: At just $95 annually, the Chase Sapphire Preferred can offer outsized value for international travelers looking for great redemption value. You can rack up points in various everyday and travel-related categories and then redeem them for travel.

You might choose to transfer points at a 1:1 ratio to one of Chase’s 14 hotel and airline partners. Or, you can book travel through Chase using points and get a 25% boost in the redemption value (1.25 cents per point). If you used the card’s welcome bonus offer this way, for example, your 60,000 bonus points would be worth more than $750 in travel booked with Chase.

  • Annual fee
    $395
  • Welcome offer
    Earn 75,000 miles after spending $4,000 on purchases in the first 3 months
  • Card type(s)
    Travel
  • Purchase APR
    19.99% - 29.99% variable
  • Recommended credit score
    Excellent
  • Rewards rate
    • 10x miles on hotels and rental cars booked through Capital One Travel
    • 5x miles on flights and vacation rentals booked through Capital One Travel
    • 2x miles on all other purchases
  • Benefits
    • $300 annual credit for travel bookings through Capital One Travel
    • 10,000 annual bonus miles (worth $100 in travel spending; starts on your first account anniversary)
    • Unlimited access for you and two guests to Capital One Lounges and 1,300+ more lounges through partner networks

Why we like it: We like the Capital One Venture X as a travel card with premium rewards and benefits for a lower annual fee than some other competitors. If you’re looking for a card with no foreign transaction fees because you travel often, this card can help you maximize your frequent trips.

The annual travel credit alone can nearly wipe out the annual fee, even before considering the miles you can earn. But remember: You’ll get the most value if you’re willing to book trips through the issuer’s travel portal. If you prefer to book directly with airlines or hotels, you may want to look elsewhere.

  • Annual fee
    $550
  • Welcome offer
    Earn 60,000 bonus points after spending $4,000 in the first 3 months (that's $900 toward travel when you redeem through Chase Travel?)
  • Card type(s)
    Travel
  • Ongoing Purchases APR
    22.49% - 29.49% Variable
  • Recommended credit score
    Excellent
  • Rewards rate
    • 10x points on hotels and rental cars purchased through Chase Travel*
    • 5x points on flights purchased through Chase Travel*
    • 3x points on dining and other travel purchases
    • 1x points on all other purchases
    • *After the first $300 is spent on travel purchases annually
  • Benefits
    • Points are worth 50% more when you redeem through Chase Travel
    • Earn up to $300 in annual statement credits for travel purchases
    • Receive up to a $100 statement credit every four years to cover the application fee for Global Entry, TSA PreCheck, or NEXUS

Why we like it: If you travel frequently each year, it’s easy to maximize the Chase Sapphire Reserve even with its high annual fee. Along with great rewards rates on travel and dining, we like the $300 travel credit you’ll earn each year. This credit can apply to everything from airfare and parking fees to travel agents and much more.

Like the Chase Sapphire Preferred, the Sapphire Reserve is also a great option for maximizing travel redemptions through Chase’s rewards program. Chase Ultimate Rewards points are worth 1.5 cents per point with this card when you use them to book travel through Chase. If you redeemed the welcome offer of 60,000 bonus points through Chase Travel, they’d be worth as much as $900 in travel spending.

  • Annual fee
    $0
  • Welcome offer
    None
  • Card type(s)
    Secured, Cash-back
  • Purchase APR
    29.99% variable
  • Recommended credit score
    Excellent, Good
  • Rewards rate
    • 5% unlimited cash back on hotels and rental cars booked through Capital One Travel
    • 1.5% unlimited cash back on every purchase, everywhere
  • Benefits
    • No annual or hidden fees; see if you're approved in seconds
    • Earn back your $200 security deposit as a statement credit when you use follow card use best practices, such as making payments on time
    • Be automatically considered for a higher credit in six months with no additional deposit

Why we like it: We like the QuicksilverOne as a credit-building card that’s available for those who may not qualify for more premium options but still want to earn rewards. While it doesn’t have the welcome bonus or intro offer of the regular Capital One Quicksilver Cash Rewards Credit Card (and you’ll have to pay an added annual fee), this card can still help you earn a competitive 1.5% cash back on the money you spend at home or while traveling abroad.

Best for no annual fee: Wells Fargo Autograph? Card

  • Annual fee: $0

  • Welcome offer: Earn 20,000 bonus points when you spend $1,000 within the first 3 months after account opening

  • Rewards:

    • 3x points at restaurants

    • 3x points on travel

    • 3x points at gas stations and electric vehicle charging stations

    • 3x points on transit

    • 3x points on popular streaming services

    • 3x points on cell phone and landline phone plans

    • 1x points on everything else

  • Benefits: This card has a great 0% APR intro offer on new purchases for the first 12 months. You’ll also get cell phone protection (up to $600 against damage or theft; $25 deductible) and travel protection. The rewards you earn may be redeemed for travel, gift cards, or to offset purchases charged to your card.

Why we like it: As a no-annual-fee option, the Wells Fargo Autograph has a long list of rewards categories that can fit nearly any budget. If you only travel abroad occasionally and want a card you can benefit from both internationally and at home, this could be a good option. It doesn’t have the great added benefits or rewards boosts of other cards, but it can make a solid everyday rewards credit card. Plus, we like the welcome offer (worth $200) and the competitive 0% intro APR for added value.

A foreign transaction fee is an added charge for making purchases outside of the United States. This includes purchases you make in-person while traveling abroad, but it can also apply to items you buy online from international sellers.

Foreign transaction fees typically range from 1% to 3% of your overall purchase, though they vary by credit card issuer. Some issuers even forgo these fees on every credit card they offer. You can find the details of any card’s foreign transaction fee charges within the card agreement.

Here’s a look at what each credit card issuer charges for foreign transactions. But remember: If you have a card that offers no foreign transaction fees as a benefit, you won’t pay anything.

If you travel abroad often, or have plans to in the near future, a card with no foreign transaction fees can make your trip more affordable.

For example, say you’re going on a two-week vacation across Europe, where the euro is the standard currency. You plan to use your credit card for multiple purchases each day — food, souvenirs, transportation, tourist attractions, and other conveniences — to take advantage of the card’s purchase protections and rewards.

By the end of your trip, you’ve spent the U.S. dollar equivalent of $2,500 with your card. A 3% foreign transaction fee would leave you with another $75 on top of your total.

Even if you only go abroad once per year, that’s still a significant amount of savings.

If your travel plans are firmly made up of domestic travel within the United States, however, foreign transaction fees are less of a concern. Still, consider whether you make other purchases that could lead to you racking up these fees even from home, such as spending money with an online business located abroad.

No foreign transaction fee cards are often also travel credit cards or rewards credit cards that have added perks you can use while traveling or at home. Here are a few details to consider from no foreign transaction fee credit cards.

  • Qualification requirements: Check your credit score before you submit a new card application, and make sure you’re confident you can qualify. Applying to too many new credit accounts within a short time frame can have a negative effect on your credit. If you’re unsure, see whether the card you like offers preapproval without a hard credit check.

  • Welcome offer: If you’re getting a card with no foreign transaction fees for an upcoming trip, scoring a great welcome offer along the way can give you back a lot of added value. Before you apply, make sure the required spending minimum is within your budget. You don’t want to risk taking on high-interest debt, no matter how high the potential sign-up bonus.

  • Rewards: Any new rewards credit card you add to your wallet should make it easy to maximize the purchases you already make. It pays in rewards value over the long term if you prioritize a card with no foreign transaction fees that also rewards your regular spending.

  • Travel protections: Many travel credit cards come with travel benefits that can also save you a lot of money on future trips. This may include everything from trip cancellation and interruption insurance to reimbursement for travel delays, baggage delay insurance, rental car insurance coverage, emergency assistance, and more. You may not always need these protections, but you won’t regret having access to them when you do.

Read more: See our picks for the best credit card sign-up bonuses

These are a few things to keep in mind if you’re taking a credit card on your next trip:

  • Know your credit card network: While both American Express and Discover are widely accepted across the U.S., you may have more difficulty using them abroad. Visa and Mastercard are generally more common than Amex or Discover internationally. If you’re planning to use your Amex card or Discover card abroad, consider keeping a backup Visa or Mastercard in your wallet, too.

  • Bring some cash: It’s always smart to have some cash on-hand when traveling internationally. While you may not want to risk carrying a large amount with you, some local currency can offer peace of mind. Save money by converting your currency before you leave; airport currency exchanges often have very unfavorable exchange rates and added fees.

  • Be aware of dynamic currency conversion: When you make a purchase with your card in another country, you may be given the option to complete the charge in U.S. dollars or the local currency. That’s known as dynamic currency conversion (DCC) and can often cost you more than if your card network converts the currency later. In fact, you can often avoid any currency conversion fees if your card has no foreign transaction fees (though you should always check your card’s terms to be sure).

To create this list of the best cards with no foreign transaction fees, we started with the dozens of credit cards we’ve already rated and ranked under relevant categories, including travel credit cards, rewards credit cards, and cash-back credit cards.

Taking the cards we already consider highest-rated — based on methodologies that include annual fee vs. rewards value calculations, a review of benefits, APR and other fees, and more — we focused on only those that charge no foreign transaction fees. This detail is sometimes marketed by issuers as a card perk but can also be found within any credit card agreement’s breakdown of fees. Because they’re more widely accepted globally, we also prioritized card picks from issuers that offer cards on the Visa or Mastercard network.

From there, we focused on choosing a list of cards based on categories chosen to appeal to a broad range of cardholders who may be interested in no foreign transaction fee cards. From credit card beginners to those already using multiple cards, we believe there’s an option on our list for anyone.

This article was edited by Alicia Hahn

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