What Are the Best Credit Cards with No Foreign Transaction Fees?

As an expert incredit cards, I am often asked about the best options fortravelers. One of the most important factors to consider is foreign transaction fees, which can add up quickly and significantly impact your budget. In this article, we will explore the best credit cards withno foreign transaction fees, along with additional tips for saving money and avoiding risks when using credit cards while traveling.

Best Credit Cards with No Foreign Transaction Fees

1. Chase Sapphire Preferred: This card is a popular choice for travelers, thanks to its generous rewards program and lack of foreign transaction fees. Cardholders earn 2x points on travel and dining, and 1x point on all other purchases. The annual fee is $95, but it may be worth it for frequent travelers who can take advantage of the rewards program.

2. Capital One Venture Rewards: Another great option is the Capital One Venture Rewards card, which offers 2x miles on all purchases. There is no foreign transaction fee, and the annual fee is $95. Additionally, cardholders can earn a sign-up bonus of 50,000 miles after spending $3,000 in the first three months.

3. Discover it Miles: For those who prefer a no-annual-fee card, the Discover it Miles is a good choice. Cardholders earn 1.5x miles on all purchases, and there is no foreign transaction fee. Additionally, Discover will match all the miles you earn in your first year, effectively doubling your rewards.

Tips for Saving Money and Avoiding Risks

1. Use credit cards with no foreign transaction fees: As we've discussed, foreign transaction fees can quickly add up. Using a credit card with no foreign transaction fees can save you money on every purchase.

2. Notify your bank of your travel plans: To avoid having your credit card flagged for fraud, be sure to notify your bank of your travel plans. Most banks allow you to do this online or through their mobile app.

3. Use ATMs sparingly: While it's convenient to withdraw cash from ATMs when traveling, it can be costly. ATM fees and foreign transaction fees can add up quickly. Instead, try to use your credit card for purchases whenever possible.

4. Be cautious with public Wi-Fi: When using public Wi-Fi networks, be cautious about entering sensitive information like your credit card number. Hackers can easily intercept this information, putting you at risk for fraud.

5. Pay off your balance in full: To avoid paying interest and fees, be sure to pay off your credit card balance in full every month. This will also help you maintain good credit.

Conclusion

Choosing the right credit card for travel can save you money and make your trip more enjoyable. Cards with no foreign transaction fees are an important consideration, but there are also other factors to keep in mind. By following these tips and choosing the right credit card, you can make the most of your travels while avoiding unnecessary fees and risks.