Top 10 No Foreign Transaction Fee Credit Cards for 2017
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If you are going to travel overseas, you may be researching credit cards with travel rewards. But one thing many credit card shoppers overlook is the foreign transaction fee.
Numerous credit cards issued in the United States charge certain fees for completing purchases overseas. This can be anywhere from a 1% to 3% fee. But there are some credit cards that do not charge a foreign transaction fee. For people who regularly travel for business and leisure outside of the United States, a credit card without a foreign transaction fee is very attractive. Foreign transaction fees are only a small percentage of each transaction, but they can certainly add up over time.
The good news is that no foreign transaction fee credit cards are definitely available for consumers. But the bad news is they can be hard to get if you do not have excellent credit. Credit card companies associate overseas travel with good credit, and are only willing to provide cards with no foreign transaction fees to consumers with top-of-the-line credit histories.
Here are some of the best credit cards with no foreign transaction fee in 2017:
The Capital One VentureOne card is considered one of the best travel rewards card in the industry due to its low fees and great rewards opportunities. It offers 0% APR for the first 12 months on purchases, and then a relatively low 12.74% to 22.74% variable APR after that. For those who like to travel abroad, VentureOne has no foreign transaction fees. You can enjoy your time without having to worry about currency conversions. Best of all, you can get 1.25 miles for every $1 you spend on the card, which can be redeemed for travel expenses. This is in addition to the 20,000 bonus miles you’ll receive (equivalent to $200) if you spend more than $1,000 on your card during the first three months of card ownership. These miles can be used on any airline or hotel ,and have no blackout dates. The card has no annual fee. If you make a lot of purchases on your credit card, you may want to consider the Capital One Venture card. This does have an annual fee of $59 after the first year, but pays two miles for every dollar you spend. In addition, it has an upfront bonus of 40,000 miles once you spend $3,000 during the first three months.
The JetBlue Card gives you 5,000 bonus points after spending $1,000 within the first 90 days of being a cardholder. You will earn three points for each dollar spent on JetBlue, two points for every dollar at restaurants and grocery stores, and one point for all other transactions. There are no blackout dates on JetBlue-operated flights and you can redeem your points for any seat at any time. You receive 50% savings on eligible in-flight purchases such as cocktails and food on JetBlue-operated flights. The card does not have a yearly fee or any foreign transaction fees, and comes with a special introductory offer of 0% APR for 12 billing cycles on all balance transfers made during the first 45 days of being a card member. The card only requires a good credit score, not an excellent score required on many other travel cards. The ongoing variable APR is 12.74%, 20.74% and 25.74% depending on your creditworthiness.
The Capital One Quicksilver Cash Rewards card is a very attractive cash rewards credit card that also comes with no annual fee and a relatively low APR. You receive 0% APR on both purchases and balance transfers for nine months. Then, the on-going APR is 13.74% to 23.74% depending on your credit worthiness. The rewards are incredibly strong and easy to understand. Cardholders receive 1.5% back on all purchases with no limit to the amount. In addition, you receive a $100 bonus after you spend $500 during the first three months of card ownership. The card does have a balance transfer fee of 3%, but no foreign transaction fees. You need “good” credit to qualify for this card.
The Barclaycard Ring Mastercard is one of the more attractive balance transfer cards on the market today. It comes with a 0% APR for 15 months on balance transfers if the transfer is made in the first 45 days of opening the account. In addition, it is one of the few cards in the industry with no balance transfer fee. The ongoing APR is a variable 13.74%. The card does not have an annual fee or any foreign transaction fees. This card requires you to have an excellent credit to be approved. Cardholders will also have access to their free FICO scores from their Barclaycard online account.
The Citi ThankYou Premier Card has some attractive rewards. Cardholders earn 30,000 bonus points once they spend $3,000 during the first three months of having the account. Ongoing rewards include three ThankYou points for every dollar spent on travel and gas, two ThankYou points for each dollar spent on dining out and entertainment, and one point for all other transactions. You can transfer the points to use at participating airline and hotel loyalty programs. The card has a variable APR between 15.24% and 24.24% depending on your credit worthiness. There is a $95 annual fee which is waived during the first year of membership.
The Capital One Premier Dining Rewards Card is a new card on the market. It gives 3% back on all dining expenses, 2% on groceries and 1% on all other transactions. There is no limit to the rewards you can earn. Plus there is an early spend bonus of $100 if cardholders spend $500 on the card within three months of approval. Besides no foreign transaction fee, there is no annual fee on this card. The variable APR is between 15.24% and 24.24% depending on your credit worthiness.
The Barclaycard Arrival Plus World Elite Mastercard is a terrific credit card for those who are planning to do a lot of traveling. The card offers 50,000 bonus miles if you make $3,000 in purchases in the first 90 days of card ownership. That could amount to as much as a $500 travel statement credit. You’ll also get double the miles on all purchases that you make. The card has an ongoing variable APR of 16.74%, 20.74% and 23.74% depending on your credit worthiness. It offers a 0% APR for 12 months on balance transfers if they are made within 45 days of opening your account, with a 3% balance transfer fee. The $89 annual fee is waived the first year. The card has no foreign transaction fee. The card may be difficult to obtain since it is designed for people with excellent credit scores.
The Starwood Preferred Guest Business Card has an attractive early spend bonus. New applicants earn 25,000 bonus points after using their card to spend $5,000 within three months of account opening. You earn two points per dollar spent at Starwood hotels including Westins, Sheratons and several other brands, and one point for all other purchases. You can redeem the Starpoints for free nights at over 1,300 hotels and resorts in over 100 countries, as well as for free flights on over 150 airlines with SPG Flights. There is a $95 annual fee that is waived for the first year, and no foreign transaction fee.
Most every small business card on the market requires you to have good or excellent credit but the Capital One Spark Classic card only requires fair credit, making it a very attractive card. The card has no annual fee and you get 1% cash back on every purchase you make. As a small business owner, you will receive helpful year-end summaries, and can add employee cards at no extra cost. There is fraud coverage if any of your small business cards are lost or stolen. The card does has a variable 23.74% APR so you will want to pay off the balance in full and on time each month. Like all Capital One cards, there are no foreign transaction fees with the Spark Classic card.
Discover it Miles
The Discover it Miles card has an excellent rewards program during the first year of card. The card pays 1.5 miles for every dollar you spend, and then the issuer doubles the miles you earn during the first year. So you are actually earning three miles for every dollar spent during year one. The card comes with a 0% APR offer on all purchases during the first 14 months. The ongoing APR is anywhere from 11.74% and 23.74%, depending on your credit worthiness. In addition to having no foreign transaction fee, the Discover it Miles card has no annual fee and gives all cardholders a free FICO score every month.
Traveling overseas is something that can be extremely rewarding. But what’s even better is saving your hard-earned cash when you are on your trip. In order to make sure that you are getting the best deal, you should shop around to find the best credit card for you.