Rossen Reports: Best credit cards with no foreign transaction fees
What are the best credit cards without foreign transaction fees?
Our viewer Bonnie reached out to Rossen Reports with a specific request: "I'm hoping that you can help me find a credit card with zero foreign transaction fees. Also, if it has no annual fee. Thank you!"
Understanding Foreign Transaction Fees
Foreign transaction fees are charges imposed by your card issuer for purchases made outside the U.S., typically around 2-3%. These fees can accumulate quickly when traveling abroad on expenses like hotels and dining.
Recommendations to Avoid Foreign Transaction Fees
The most effective way to bypass these fees is by opting for travel rewards credit cards. These cards are often used for travel and typically offer perks like no foreign transaction fees. Here are some top picks we found that also have no annual membership fees:
- Capital One VentureOne Rewards Card: This card offers travel miles and points without any foreign transaction or annual membership fees.
- Hilton Honors American Express Card: Great for those loyal to the Hilton brand.
- Marriott Bonvoy Bold Chase Card: Ideal for Marriott enthusiasts, also with no foreign transaction or annual fees.
Other options
Capital One and Discover are noteworthy for not charging foreign transaction fees on any of their U.S. credit cards, extending the flexibility to a broader range of credit card options.
How to choose the right card
- Check Your Credit Score: This is crucial as it determines your eligibility.
- Identify Your Needs: Determine what benefits and perks are most important to you.
To aid in your decision, Bankrate offers a free Spender Type Tool. With this tool, you can input your spending profile and credit score range to receive personalized credit card recommendations.
Have a question for Jeff Rossen? He's answering your consumer questions every Friday in the new segment "Rossen Responds." Email your questions to him at RossenResponds@hearst.com.