Wednesday, October 27, 2021

    The best credit cards with no foreign transaction fees of October 2021

    The best credit cards with no foreign transaction fees of October 2021

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    Updated

    2021-10-08T21:19:58Z

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    Best no foreign transaction fee card Editor’s rating Best for Intro bonus Learn more

    Chase Chase Sapphire Preferred® Card

    Chase Sapphire Preferred® Card

    A five pointed star 4.8 /5

    A tooltip

    Our editor’s ratings are primarily based on 3 things: simplicity, affordability, and value. Our credit card editor takes those factors into account, and comes up with a rating to best reflect how the card performs in that criteria – relative to other products we’ve reviewed.

    Best travel card with an annual fee under $100

    60,000 points

    A tooltip

    Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening

    Apply Now

    Chase Chase Sapphire Reserve®

    Chase Sapphire Reserve®

    A five pointed star 4.65 /5

    A tooltip

    Our editor’s ratings are primarily based on 3 things: simplicity, affordability, and value. Our credit card editor takes those factors into account, and comes up with a rating to best reflect how the card performs in that criteria – relative to other products we’ve reviewed.

    Best premium travel card

    50,000 points

    A tooltip

    Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening

    Apply Now

    Discover Discover it® Cash Back

    Discover it® Cash Back

    A five pointed star 4.42 /5

    A tooltip

    Our editor’s ratings are primarily based on 3 things: simplicity, affordability, and value. Our credit card editor takes those factors into account, and comes up with a rating to best reflect how the card performs in that criteria – relative to other products we’ve reviewed.

    Best with no annual fee

    N/A

    Apply Now Rates & Fees

    American Express The Platinum Card® from American Express

    The Platinum Card® from American Express

    A five pointed star 4.75 /5

    A tooltip

    Our editor’s ratings are primarily based on 3 things: simplicity, affordability, and value. Our credit card editor takes those factors into account, and comes up with a rating to best reflect how the card performs in that criteria – relative to other products we’ve reviewed.

    The premium card with the most benefits

    100,000 Membership Rewards points after you spend $6,000 in your first 6 months of card membership, plus 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of card membership

    Apply Now Rates & Fees

    American Express Delta SkyMiles® Gold American Express Card

    Delta SkyMiles® Gold American Express Card

    A five pointed star 4.34 /5

    Best Delta card

    70,000 bonus miles after spending $2,000 in purchases in the first 3 months from account opening (offer expires 11/10/2021)

    Apply Now Rates & Fees

    Chase United℠ Explorer Card

    United℠ Explorer Card

    A five pointed star 4.55 /5

    Best United card

    40,000 bonus miles after spending $2,000 on purchases in the first 3 months from account opening

    Apply Now

    Citi Citi® / AAdvantage® Platinum Select® World Elite Mastercard®

    Citi® / AAdvantage® Platinum Select® World Elite Mastercard®

    A five pointed star 4.45 /5

    Best American Airlines card

    50,000 American Airlines AAdvantage® bonus miles after spending $2,500 in purchases within the first 3 months of account opening

    Apply Now

    Capital One Capital One Venture Rewards Credit Card

    Capital One Venture Rewards Credit Card

    A five pointed star 4.5 /5

    The simplest rewards structure

    Earn 60,000 miles after spending $3,000 on purchases within 3 months from account opening

    Apply Now

    The best credit cards with no foreign transaction fees of October 2021

    Using a credit card with foreign transaction fees when you travel abroad can be a costly mistake. Imagine coming home from a lovely trip to seeing a huge bill — all because of a 3% foreign transaction fee added on top of your actual purchases.

    Luckily, virtually all of the top rewards credit cards no longer charge this fee. Below, you’ll find some of our favorite rewards credit cards without foreign transaction fees, with an emphasis on travel rewards cards that offer bonus points and miles for airfare, hotels, and more.

    Best travel card with an annual fee under $100: Chase Sapphire Preferred

    Regular APR

    15.99%-22.99% Variable

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  • Pros & Cons
  • Details
  • Pros
    • High sign-up bonus starts you off with lots of points
    • Strong travel coverage
    Cons
    • Doesn’t offer a Global Entry/TSA PreCheck application fee credit
    • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Ultimate Rewards®.
    • Enjoy new benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases, plus more.
    • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
    • With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
    • Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
    • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
    • Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.

    Read Our Review Read Our Review A looong arrow, pointing right

    One of the most popular and recommended travel rewards credit cards, the Chase Sapphire Preferred offers 5x Chase Ultimate Rewards points per dollar spent on travel purchased through Chase Ultimate Rewards®, 2x points on all other travel purchases, including internationally, and 3x points on dining.

    Read more: Chase Sapphire Preferred card review

    Dining includes things like restaurants, bars, pubs, coffee shops, and more, while travel includes airfare, hotels, Airbnb, taxis, ride-share services like Uber and Lyft, subways, and more. Right now, the Chase Sapphire Preferred offers a sign-up bonus of 60,000 points when you spend $4,000 in the first three months. 

    Chase recently added new bonus categories and benefits to the Chase Sapphire Preferred, including up to $50 in annual statement credits for hotels booked through the Chase Travel Portal

    Best premium travel card: Sapphire Reserve

    Regular APR

    16.99%-23.99% Variable

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  • Pros & Cons
  • Details
  • Pros
    • Annual travel credit can effectively shave $300 off the annual fee if you use it
    • Strong travel insurance
    • Strong bonus rewards on travel and dining
    Cons
    • Very high annual fee
    • The new DoorDash statement credits may not be useful for everyone, which can make the recently increased annual fee harder to justify
    • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 toward travel when you redeem through Chase Ultimate Rewards®
    • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year. Through December 31, 2021, gas station & grocery store purchases will also count towards earning your Travel Credit
    • Earn 5X total points on air travel and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases
    • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
    • With Pay Yourself Back℠, your points are worth 50% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
    • 1:1 point transfer to leading airline and hotel loyalty programs
    • Access to 1,300 airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit for Global Entry or TSA Pre✓™
    • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more

    Read Our Review Read Our Review A looong arrow, pointing right

    The Sapphire Reserve is essentially a beefed-up version of the Preferred, with a higher annual fee and a few key differences.

    Read more: Chase Sapphire Reserve review

    You get a $300 statement credit each cardmember year to cover your first $300 of travel charges, and a higher earning rate of 5x total points on air travel and 10x total points on hotels and car rentals purchased through Chase Ultimate Rewards® (after earning the $300 travel credit) and 3x points on other travel and dining (plus 10x points on Lyft rides through March 2022 and 1 point per dollar on everything else).

    The Sapphire Reserve earns a bonus of 50,000 points when you spend $4,000 in the first three months. 

    As with the Preferred, the Sapphire Reserve recently got a refresh, with improved or new bonus categories and benefits like access to the new Chase Sapphire Lounges (when open) at New York-LaGuardia (LGA), Boston (BOS), and Hong Kong (HKG).

    Best with no annual fee: Discover it® Cash Back

    Regular APR

    11.99% – 22.99% Variable

    Intro APR

    0% intro APR for 14 months on purchases and balance transfers

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  • Pros & Cons
  • Details
  • Pros
    • Earns 5% cash back at Amazon.com, Walmart.com and Target.com on up to $1,500 in purchases after enrollment from October to December 31, 2021, then 1%
    • Discover will match your cash back at the end of your first account year
    • No annual fee
    Cons
    • Cap on how much bonus cash back you can earn each quarter
    • If the quarterly categories aren’t convenient for you, you can earn more cash back with a different card
    • Intro Offer: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
    • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
    • Plus, earn unlimited 1% cash back on all other purchases – automatically.
    • Redeem cash back in any amount, any time. Rewards never expire.
    • Use your rewards at Amazon.com checkout.
    • #1 Most Trusted Credit Card according to Investor’s Business Daily.
    • No annual fee.
    • Discover is accepted nationwide by 99% of the places that take credit cards.

    The Discover it® Cash Back earn 5% cash back on up to $1,500 spent each quarter in bonus categories once activated (then 1%) (from October to December 31, 2021, you can earn 5% cash back at Amazon.com, Walmart.com and Target.com on up to $1,500 in purchases after enrollment, then 1%). There’s no traditional welcome bonus; instead, Discover will match all the rewards you earn after the first year. Along with no foreign transaction fees, Discover cards never charge an annual fee.

    Read more: Discover it Cash Back credit card review

    Discover has already shared all of its bonus categories for 2021, which include grocery stores, Walgreens, and CVS (January to March), gas stations, wholesale clubs, and select streaming services (April – June), restaurants and Paypal (July – September), and Amazon.com, Walmart.com, and Target.com (October – December). 

    The premium card with the most benefits: The Platinum Card® from American Express

    Regular APR

    See Pay Over Time APR

    Featured Reward

    100,000 Membership Rewards points after you spend $6,000 in your first 6 months of card membership, plus 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of card membership

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  • Pros & Cons
  • Details
  • Pros
    • Long list of travel benefits, including airport lounge access and complimentary elite status with Hilton and Marriott (enrollment required)
    • Annual statement credits with Saks and Uber
    Cons
    • Bonus categories leave something to be desired
    • One of the highest annual fees among premium travel cards
    • Earn 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership.
    • Plus, earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership.
    • Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
    • $200 Hotel Credit: Get $200 back in statement credits each year on prepaid Fine Hotels Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®.
    • $240 Digital Entertainment Credit: Get up to $20 in statement credits each month when you pay for eligible purchases with the Platinum Card® at your choice of one or more of the following providers: Peacock, Audible, SiriusXM, and The New York Times. Enrollment required.
    • $155 Walmart Credit: Cover the cost of a $12.95 monthly Walmart membership with a statement credit after you pay for Walmart each month with your Platinum Card. Cost includes $12.95 plus applicable local sales tax.
    • American Express has expanded The Centurion® Network to include 40 Centurion Lounge and Studio locations worldwide. Now there are even more places your Platinum Card® can get you complimentary entry and exclusive perks.
    • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline.
    • $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only.
    • $300 Equinox Credit: Get up to $25 back each month on select Equinox memberships when you pay with your Platinum Card®. Enrollment required.
    • $179 CLEAR® Credit: Use your Card and get up to $179 back per year on your CLEAR® membership.
    • $695 annual fee.
    • Terms Apply.

    Read Our Review Read Our Review A looong arrow, pointing right

    The Platinum Card® from American Express is more or less the flagship premium travel card, offering rewards, perks, and benefits that can net a ton of value for cardholders — whether you’re traveling or staying close to home. That’s more than enough to make up for its hefty $695 annual fee (See Rates).

    Read more: Amex Platinum card review

    The Platinum Card® from American Express has no foreign transaction fees and earns 5x points on flights booked directly with the airline and through Amex Travel (starting January 1, 2021, the 5x points will apply up to $500,000 on these purchases per calendar year), 5x points on prepaid hotels booked through Amex Travel, and 1x points on everything else. 

    There’s also an excellent welcome offer: 100,000 Membership Rewards points after you spend $6,000 in your first 6 months of card membership, plus 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of card membership.

    You’ll also get up to a $200 annual airline fee credit, up to $200 in Uber credits (including Uber Eats)each year ($15 each month, plus a bonus of $20 in December), access to more than 1,200 airport lounges around the world, complimentary elite status with Hilton and Marriott, and up to $100 in Saks Fifth Avenue credits per year.

    Major airline credit cards

    Annual Fee

    $0 intro for the first year, then $99

    Regular APR

    15.74% – 24.74% variable

    Featured Reward

    70,000 bonus miles after spending $2,000 in purchases in the first 3 months from account opening (offer expires 11/10/2021)

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  • Pros & Cons
  • Details
  • Pros
    • Earns bonus miles at restaurants and US supermarkets
    • Intro annual fee is $0 for the first year (then $99)
    • You get a free checked bag and Main Cabin 1 Priority Boarding on Delta flights
    Cons
    • Doesn’t go above and beyond in terms of benefits beyond Delta perks
    • Limited Time Offer: Earn 70,000 Bonus Miles after spending $2,000 in purchases on your new Card in your first 3 months. Offer expires 11/10/2021.
    • Enjoy your first checked bag free on Delta flights.
    • Earn 2X Miles on Delta purchases, at restaurants worldwide, including takeout and delivery and at U.S. supermarkets.
    • Earn 1X Mile on all other eligible purchases.
    • $100 Delta Flight Credit: After you spend $10,000 in purchases on your card in a calendar year, receive a Credit to use toward future travel.
    • Enjoy a $0 introductory Annual Fee for the first year, then $99.
    • Terms Apply.

    Read Our Review Read Our Review A looong arrow, pointing right

    The mainstream credit cards from the three major US airlinesAmerican Airlines, Delta, and United — all come with similar perks, including variations of priority boarding, free checked bags, the opportunity to earn miles on everyday purchases, and more. Plus, these cards have no foreign transaction fees.

    Read more: The best airline credit cards of 2021

    The best option for you depends on where you live and which airlines you have access to. The cards each come with different new member offers, and while there are a few other differences between them, they have annual fees of $95 to $99 that are waived the first year (See Rates).

    The simplest rewards structure: Capital One Venture Rewards Credit Card

    The Capital One Venture Rewards Credit Card is another great option without foreign transaction fees and with an annual fee under $100, especially now that you can transfer Capital One miles to various airline programs.

    Read more: Capital One Venture Rewards Credit Card review

    The card earns 2 miles per dollar on everything — the simplest rewards structure among travel credit cards. You can also redeem Capital One miles at a fixed rate of 1 cent each toward travel purchases made with your card, without having to worry about award charts and blackout dates.

    Frequently asked questions — no foreign transaction fee cards

    How did we choose the best credit cards with no foreign transaction fees?

    Virtually all of the best travel rewards credit cards waive foreign transaction fees by this point, so for this guide, we focused on narrowing it down to the best options in a variety of categories. We drew heavily from our editors’ expertise and the input of experts, as quoted in our guide to the best rewards credit cards, to come up with this list in the most popular categories of cards. 

    You’ll find a top pick for cash back, a top pick for travel rewards (in two different budget categories), our top airline credit card options, and more.

    How do foreign transaction fees work?

    When you’re using a credit card that charges a foreign transaction fee and you make a purchase abroad, you’ll be charged an extra fee, as a percentage of your purchase amount. The fee is generally 3% of your purchase, and it will be added to your monthly bill.  

    Your foreign transaction fee may be broken down into two parts: a fee charged by the payment network (as in Visa or Mastercard) and a fee charged by your credit card company.

    Do foreign transaction fees apply online?

    In addition to applying to purchases you make while traveling abroad, a foreign transaction fee could be charged when you make a purchase from a vendor that’s based outside of your home country.

    If you’re shopping with a retailer or travel company based abroad, your best bet is paying with a credit card that doesn’t charge foreign transaction fees just to be safe.

    • David is a Senior Transportation Reporter for Business Insider. He primarily covers airlines and air travel. A native New Yorker and avid photographer, David previously covered travel, credit-card rewards, and frequent-flyer programs. Before joining Business Insider, David was a freelance writer and editor — before that, he worked in public affairs. He earned his bachelor’s degree from Muhlenberg College and his master’s from the University of Edinburgh in Scotland, UK. You can follow him on Twitter or Instagram, or send him an e-mail at dslotnick@businessinsider.com.

    Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

    Please note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.

    Enrollment required.

    For rates and fees of The Platinum Card® from American Express, please click here.

    For rates and fees of the Delta SkyMiles® Gold American Express Card, please click here.

    Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team. Read our editorial standards.

    For rates and fees of Discover it® Cash Back, please click here.

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