How to choose a no-foreign-transaction-fee credit card

Editor’s note: This is a recurring post, regularly updated with new information and offers. If you’re a frequent traveler, you might be familiar with foreign transaction fees — and how they can add up, making every purchase more expensive. When you make a purchase in a foreign country through an international merchant, your credit card …

Mar 19, 2025 - 14:44

How to choose a no-foreign-transaction-fee credit card

Editor’s note: This is a recurring post, regularly updated with new information and offers.

If you’re a frequent traveler, you might be familiar with foreign transaction fees — and how they can add up, making every purchase more expensive.

When you make a purchase in a foreign country through an international merchant, your credit card issuer charges these fees, typically up to 3% of the transaction amount.

The good news? Many credit cards waive foreign transaction fees entirely, helping you save money when you travel. In fact, Discover and Capital One don’t charge foreign transaction fees on any of their cards.

Here’s our guide to finding a no-foreign-transaction-fee credit card that works for you. (see rates and fees), (see rates and fees)

Comparing the best no-foreign-transaction-fee credit cards

Card	Best for	Welcome offer	Earning rates	Annual fee
Capital One Venture Rewards Credit Card	Flat-rate earning	Earn 75,000 miles after spending $4,000 on purchases within the first three months of account opening, plus receive a one-time $250 Capital One Travel credit to use in your first cardholder year	Earn 5 miles per dollar spent on hotels, vacation rentals and rental cars booked through Capital One Travel Earn 2 miles per dollar on every purchase, every day	$95
Chase Sapphire Preferred® Card	Total value	Earn 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening.	Earn 5 points per dollar spent on travel purchased through Chase Travel℠ Earn 3 points per dollar spent on dining, select streaming services and online groceries Earn 2 points per dollar spent on all other travel purchases Earn 1 point per dollar spent on all other purchases	$95
Bilt Mastercard®* (see rates and fees)	Renters	N/A	Earn 3 points per dollar spent on dining Earn 2 points per dollar spent on travel Earn 1 point per dollar spent on other purchases Earn 1 point per dollar spent on rent without the transaction fee, up to 100,000 points in a calendar year. (Must use Bilt Mastercard 5 times each statement period to earn points on rent and qualifying net purchases)	$0
Capital One Savor Cash Rewards Credit Card	Entertainment spending	Earn $200 cash back after spending $500 on purchases within three months of account opening	Earn 8% cash back on Capital One Entertainment purchases Earn 5% Cash Back on hotels and rental cars booked through Capital One Travel Earn 3% cash back at grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services Earn 1% cash back on all other purchases	$0
Ink Business Preferred® Credit Card	Bonus spending	Earn 90,000 bonus points after spending $8,000 in the first three months from account opening.	Earn 3 points per dollar spent on the first $150,000 spent on travel and select business categories each account anniversary year Earn 1 point per dollar spent on all other purchases	$95
American Express® Gold Card	Dining at restaurants worldwide	Earn 60,000 points after spending $6,000 in the first six months of card membership.	Earn 4 points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1 point per dollar for the rest of the year Earn 4 points per dollar spent at U.S. supermarkets, on up to $25,000 in purchases per calendar year, then 1 point per dollar for the rest of the year Earn 3 points per dollar spent on flights booked directly with airlines or on AmexTravel.com Earn 2 points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com Earn 1 point per dollar spent on all other eligible purchases	$325 (see rates and fees)
The Platinum Card® from American Express	Luxury perks	Earn 80,000 points after spending $8,000 in the first six months of card membership.	Earn 5 points per dollar spent on flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year, then 1 point per dollar Earn 5 points per dollar spent on prepaid hotels booked with American Express Travel	$695 (see rates and fees)
Bank of America® Premium Rewards® credit card	Bank of America customers	Earn 60,000 online bonus points after making at least $4,000 in purchases in the first 90 days of account opening.	Earn 2 points per dollar spent on travel and dining purchases Earn Unlimited 1.5 points per dollar spent on all other purchases	$95
Chase Sapphire Reserve®	Travel	Earn 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening.	Earn 10 points per dollar spent on hotels and car rentals when you purchase travel through Chase Travel Earn 5 points per dollar spent on flights through Chase Travel Earn 3 points per dollar spent on other travel and dining Earn 1 point per dollar spent on all other purchases	$550
Alaska Airlines Visa Signature® credit card	Airline miles	Get 70,000 bonus miles plus Alaska’s Famous Companion Fare™ ($99 fare plus taxes and fees from $23) with this offer after making $3,000 or more in purchases within the first 90 days of opening your account.	Earn 3 miles per dollar spent on eligible Alaska Airlines purchases Earn 2 miles for every dollar spent on eligible gas, EV charging station, cable, streaming services and local transit (including ride-hailing services) purchases Earn 1 mile per dollar spent on all other purchases	$95
One Key+™ Card (see rates and fees)	Expedia enthusiasts	Earn $600 in OneKeyCash™ after you spend $3,000 on purchases in the first three months of card membership.	Earn 3% in OneKeyCash on Expedia, Hotels.com, and Vrbo Earn 3% in OneKeyCash at gas stations, grocery stores, and on dining Earn 2% in OneKeyCash on other purchases	$99
Discover it® Cash Back**	No annual fee and no foreign transaction fees	Earn Unlimited Cashback Match for all new cardmembers–only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year.	Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate Earn Unlimited 1% cash back on all other purchases	$0
American Express® Green Card**	Beginner travelers	Earn 40,000 bonus points after spending $3,000 in eligible purchases within the first six months of card membership.	Earn 3 points per dollar spent on travel, including airfare, hotels, cruises, tours, car rentals, campgrounds, and vacation rentals Earn 3 points per dollar spent on transit purchases, including trains, taxicabs, ride-hailing services, ferries, tolls, parking, buses, and subways Earn 3 points per dollar spent on eligible purchases at restaurants worldwide, including takeout and delivery in the U.S. Earn 1 point per dollar spent on all other purchases	$150
U.S. Bank Altitude™ Reserve Visa Infinite® Card**	ApplePay and mobile wallet users	Earn 50,000 points after spending $4,500 in the first 90 days	Earn 5 points per dollar spent on prepaid hotels and car rentals booked directly in the Altitude Rewards Center Earn 3 points per dollar spent on eligible travel purchases and mobile wallet spending on Apple Pay®, Google Pay™ and Samsung Pay Earn 1 point per dollar spent on all other eligible purchases	$400

*TPG Brian Kelly is a Bilt advisor and investor.

**The information for the Discover it Cash Back, the U.S. Bank Altitude Reserve Visa Infinite and the Amex Green card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

How to choose a no-foreign-transaction-fee credit card

Consider where you’re traveling

Before choosing a credit card, make sure it’s widely accepted in the countries you plan to visit. Even the best travel card won’t be useful if merchants don’t take it.

Woman at the airport — LUKE CHAN/GETTY IMAGES

For example, Visa and Mastercard are generally accepted almost everywhere, while issuers such as Discover and American Express are often limited outside North America. Checking ahead can help you pick the best card for your destination and avoid payment issues while abroad.

Determine your overall goals

When choosing a no-foreign-transaction-fee credit card, consider what matters most to you. A generous welcome offer can add significant value, but you might prioritize an ongoing rewards program that aligns with your spending instead.

Think about your primary goal — do you want to maximize travel rewards, earn cash back or focus on paying down a balance? With several no-foreign-transaction-fees cards available, try to narrow down your options by deciding what type of card makes sense for you.

You might opt for a premium travel rewards card, a no-annual-fee cash back card or something in between.

For example, if you’re planning a lavish 10-day getaway or have multiple trips lined up for the year, a premium travel rewards card could offer the most value with perks like lounge access and bonus points on travel purchases.

On the other hand, if you’re an occasional traveler taking a short trip abroad, a no-annual-fee or cash back card with no foreign transaction fees might be a more practical choice. Fortunately, plenty of options are available to fit different travel styles and budgets.

woman sits on couch while using laptop — JOHNER IMAGES/GETTY IMAGES

Compare welcome offers

Once you’ve identified the type of card that fits your needs, the next step is comparing current welcome offers. A strong welcome bonus can significantly boost a card’s value, especially if it comes with a large amount of points, miles or cash back after meeting the minimum spending requirement.

However, a welcome offer isn’t everything. You might prioritize a card with a lucrative, long-term rewards program over one with a short-term bonus — keep your goals in mind when making this decision.

To help, TPG has a guide that tracks the welcome offer history on some of the most popular travel cards on the market. It can help you determine the best time to apply for a specific card.

Woman discussing with man over laptop by daughter at kitchen island — MASKOT/GETTY IMAGES

How do I pay foreign transaction fees?

Foreign transaction fees are automatically applied to your credit card statement when you make a purchase in a foreign currency. There’s no separate payment process — the fee is bundled into the total charge that appears on your statement.

If your credit card has foreign transaction fees, you will see them listed alongside each international transaction.

Are foreign transaction fees impacted by exchange rates?

No, foreign transaction fees are not impacted by exchange rates. These fees are separate charges imposed by your credit card issuer for processing transactions in a foreign currency.

While exchange rates may fluctuate based on market conditions, foreign transaction fees remain a fixed percentage of your purchase amount — typically up to 3%.

Bottom line

There are plenty of no-foreign-transaction-fee credit cards on the market. Considering a few basic factors, you can find a card that will give you plenty of value, whether traveling abroad or staying at home.

For rates and fees of the Bilt Mastercard, click here.
For rewards and benefits of the Bilt Mastercard, click here.

For rates and fees of the Amex Gold Card, click here

For rates and fees of the Amex Platinum Card, click here