It might be costly to go abroad, but the situation is made worse if your credit card imposes foreign exchange fees. These costs quickly mount up and can account for 3% or more of every transaction. However, a lot of credit cards remove foreign exchange fees and may come with incentives and features that reduce costs, increase convenience, and make traveling abroad safer. We’ve selected and categorized our top credit cards without foreign exchange fees to make it easier for you to choose the right one.
01. Capital One Venture Rewards Credit Card
Travelers who desire flexibility with their benefits can find the Capital One Venture benefits Credit Card to be a valuable companion. With no annual fee, this card provides excellent value, with 1.25 miles per dollar, 20,000 miles, and a 15-month 0% intro rate on purchases. Furthermore, incentives never run out. When hotels and rental cars are booked through Capital One Travel, this card gets 5 miles per dollar; on all other purchases, it earns an unlimited 2 miles per dollar. Miles are worth one penny each when redeemed for bill credit toward travel expenditures. Simply plan your trip as you choose, then use your miles to pay for it.
02. Capital One Venture X Rewards Credit Card
For travelers who have a taste for better things in life, the Venture X is the perfect card. Cardholders receive immediate Hertz President’s Circle Status, automatic Capital One and Priority Pass airport lounge access, and a $100 experience credit for each stay booked through Capital One Travel at its Premier Collection of opulent hotels. The $395 annual fee could be justified because you’ll also get 10,000 bonus miles on each account anniversary, which is worth at least $100 in travel, as well as a $300 yearly credit for Capital One Travel reservations.
03. Discover it® Miles
If you want to avoid navigating complex perks or bonus spending categories, the Discover it® Miles card is ideal. You can continue getting great benefits from this card year after year with no annual fee and an outstanding rewards rate on all transactions. The best thing is that Discover will double every mile you accrue over the first 12 months of using this card. The miles are worth one penny apiece for travel or cash back. This implies that for the next year, any transaction you make will essentially earn you 3X miles.
04. Bank of America® Travel Rewards credit card
The Bank of America® Travel Rewards credit card is a great option for affordable travelers. It’s even better for people who have sizable balances in linked Bank of America® savings and investment accounts. You aren’t restricted to using your card only on certain websites with blackout periods or limits; use it wherever and whenever you want to book your travel. With every transaction, Bank of America Preferred Rewards® members can accrue an additional 25%–75% of points. This implies that you might get 1.87–2.62 points for every $1 you spend on goods, as opposed to the unrestricted 1.5 points for $1.
05. Chase Sapphire Preferred® Card
Among travel credit cards, the Chase Sapphire Preferred® Card offers one of the strongest value propositions. In addition to having no foreign transaction costs at first, it also has the greatest rewards program and a welcome bonus in its class. If you use your points to book travel through the Chase Ultimate Rewards platform, your points will be worth 25% more than if you redeem them for a statement credit, which is worth one penny per point. In addition, the Sapphire Preferred offers lost luggage protection, collision damage waiver for rental cars, and trip cancellation and interruption insurance. Although a lot of travel credit cards provide partial coverage, very few provide the whole range.
06. American Express® Green Card
The recently reintroduced American Express® Green Card is a compelling choice thanks to its substantial rewards on travel, transportation, and dining expenses. Nevertheless, taking into account the few benefits and lack of Gold or Platinum status, the annual charge seems excessive. Even if you only take a few flights a year, you can still experience luxury travel with this travel card’s good benefits at a reasonable price. It is an excellent choice for commuters since it provides one of the highest reward rates available on public transportation. Those who often use public transportation or live in cities might earn a lot of rewards with this card.
07. Capital One QuicksilverOne Cash Rewards Credit Card
The Capital One QuicksilverOne Cash Rewards Credit Card can be your best option if you don’t have a debt. This card offers rewards without any foreign transaction fees. If your credit is fair, you may not have many alternatives when it comes to acquiring a credit card, particularly if you are unwilling to pay the cash required for a security deposit on a secured card. For individuals with poorer credit scores, the Capital One QuicksilverOne Cash Rewards Credit Card could be a viable alternative, since it offers a competitive cash-back percentage on all purchases. Get 1.5% cash back indefinitely on all purchases made every day. There are no caps on your earnings or revolving categories, and cashback is perpetual.
08. Ink Business Preferred® Credit Card
Small company owners who wish to optimize their travel benefits can apply for the Ink Business Preferred® Credit Card. In a variety of purchasing categories, it accrues a competitive 3X Chase Ultimate Rewards points on the first $150,00 in cumulative annual expenditures. The numerous travel and purchasing safeguards provided by the Ink Business Preferred make paying the reasonably priced yearly fee worthwhile. Rental car insurance, travel delay compensation, and mobile phone protection are all applicable to eligible purchases. Additionally, the card accrues transferable Ultimate Rewards points, which are among the most valuable and user-friendly travel rewards available.
It’s crucial to use a credit card without paying foreign transaction fees (usually 3% or more) while going outside of the country. Visit Thecreativewannabe blogs for more travel related hacks!