best travel card with no fees

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Best no-annual-fee travel credit cards of 2023

Choose the best credit card for travel and start reaping rewards today

Published: April 26, 2023

Author: Aja McClanahan

Editor: Kaitlyn Tang

How we Choose

A good travel card doesn’t have to come with an exorbitant annual fee. There are plenty of great no-annual fee travel cards you can explore to help you earn and redeem rewards for travel.

The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Please review our list of best credit cards , or use our CardMatch™ tool to find cards matched to your needs.

If you aren’t quite ready to splurge for a premium card for travel — which typically has an annual fee in exchange for premium features — your next best option would be a travel card with no annual fee . But with so many options to choose from, how do you know which card is right for you?

Here we’ll review some of our top-rated travel card options that don’t charge a pesky annual fee. Use this guide to help choose the best credit card that works for your spending habits and specific travel lifestyle.

Bank of America Travel Rewards credit card: Best for flexible spending

Why we picked it : The Bank of America® Travel Rewards credit card is ideal for anyone who wants simple, hassle-free cash back options in a travel rewards card . There’s no need to activate spending categories or watch for special bonus categories every quarter. The rewards simply accrue to your account at the same flat rate of 1.5X points on every purchase.

Another plus is that if you are a Bank of America or Merrill account holder, you can boost your rewards rate 25 percent to 75 percent with Preferred Rewards . You’ll also get 25,000 online bonus points after spending $1,000 in the first 90 days.

• You can earn unlimited points.
• Your points won’t expire if your account remains open.
• You don’t have to worry about blackout dates.
• You don’t have to pay foreign transaction fees .
• The rewards rate is relatively low.

Who should apply : The Bank of America Travel Rewards card could be a good fit if you’re looking for a no-annual-fee card with a good sign-up bonus . If you tend to spend across a wide array of categories — online shopping, dining, streaming sites and gas — the card’s flat rate will earn you reliable rewards.

Who should skip : This card might not be a good match for those who are looking to maximize their spending. Cardholders who don’t mind paying an annual fee should also keep shopping.

Capital One VentureOne Rewards Credit Card: Best for simplicity

Why we picked it : This entry-level travel card is so simple to use that any beginner in travel rewards could use it. Though Capital One VentureOne Rewards Credit Card rewards rate isn’t especially high, it’s slightly higher than cards that offer unlimited cash back at the industry-standard 1 percent. The flat 1.25X miles rate applies to all spending, no matter the time or category.

Redeeming points is pretty straightforward, too. You can redeem miles for a travel statement credit that allows you to book travel yourself or through a travel agent. On top of that, the Capital One VentureOne will give you a 20,000-mile bonus (equal to $200 in travel) once you spend $500 on purchases within three months.

• You won’t have to deal with any blackout dates.
• There is no mileage minimum to redeem for travel.
• You can transfer miles to more than 15 of Capital One’s transfer partners .
• You can earn unlimited rewards.
• Large U.S. airlines are excluded from the list of airline partners.

Who should apply : This could be a good match for frequent fliers who spend $396 or more each month, and you can earn a pretty decent bonus with a relatively low spending requirement within the first three months from account opening. The card can also be beneficial if you’re looking for a 0 percent introductory APR on purchases and balance transfers for 15 months (then 19.99 percent to 29.99 percent variable APR).

Who should skip : This might not be a good fit for infrequent flyers who don’t spend a lot each month.

Chase Freedom Unlimited: Best for pairing with a premium travel card

Why we picked it : The Chase Freedom Unlimited* is a great card because it offers one of the highest cash back rates. The Chase Freedom Unlimited earns 5 percent cash back on travel purchased through Chase Ultimate Rewards, 3 percent cash back on dining and drugstore purchases, and 1.5 percent cash back on everything else.

The Freedom Unlimited’s cash back is also fulfilled as Ultimate Rewards points. This makes it a great card to pair with another Ultimate Rewards card such as the Chase Sapphire Preferred® Card to multiply the rewards you earn across different categories and redeem your points at 25 percent boosted value for Chase travel, thanks to the Sapphire Preferred’s card perk.

• The card offers flexibility for redeeming rewards.
• The card provides a sign-up bonus of an additional 1.5 percent cash back on everything you buy (on up to $20,000 spent in the first year).
• You can earn 5 percent cash back on Lyft rides through March 2025.
• Points won’t expire if your account remains open.
• There is a foreign transaction fee of 3 percent.

Who should apply : Frequent travelers looking for flexibility should consider this card. Also, frequent Lyft riders can earn a solid cash back when they use the card for every ride.

Who should skip : Cardholders who want to transfer miles to a frequent-flier program of an American airline should probably skip this one.

Discover it Miles: Best first-year bonus

Why we picked it : The Discover it® Miles card has a great first-year offer that has the potential to boost your miles’ earnings substantially. The Discover it Miles matches all the miles you earn at the end of your first year as an account holder — essentially turning your 1.5 miles per dollar into 3 miles per dollar — with no annual fee.

You can choose to redeem miles for cash, travel purchases, Amazon.com purchases, gift cards and more.

• You can earn unlimited 1.5 miles on every dollar you spend.
• You can redeem any number of miles.
• There are no blackout dates or expiration on miles earned.
• Discover matches all miles earned after your first year.
• You can’t transfer your miles to airline frequent-flier programs.
• Partners and perks have limited international acceptance.

Who should apply : Occasional travelers looking for fewer restrictions can take advantage of the Discover it Miles. This flat-rate card enables customers to choose cash back or redeem miles to pay your bill.

Who should skip : Since 1.5 miles per dollar is not the best reward rate for a frequent flier, you might want to consider another option.

Hilton Honors American Express Card: Best for frequent Hilton stays

Why we picked it : The Hilton Honors American Express Card is a good choice for those who stay at Hilton properties frequently. You’ll earn 70,000 points plus a Free Night Reward after you spend $1,000 in purchases on the card in the first three months of card membership. You can also get 7X points at Hilton hotel properties. Eligible purchases at U.S. restaurants, supermarkets and gas stations will get you 5X points, and everything else gets you 3X points. Plus, there are no blackout dates or expiration dates on points.

The Hilton Honors American Express Card also provides complimentary Hilton Honors silver status, which includes an annual fifth-night free reward (when you book at least four consecutive nights with points) and a 20 percent bonus on each Hilton Honors base point you earn.

• You can earn an unlimited number of points.
• You can transfer points to over 20 travel partners.
• There are no foreign transaction fees.
• Points are redeemable for hotel stays, airfare, car rentals, cruises, shopping, dining or charitable giving.
• You can redeem points only for travel booked through Amex Travel .
• You can use the free night’s stay certificate only if a standard room is available.

Who should apply : Travelers who frequent Hilton stays will get the most out of this card because they can earn points on their everyday purchases, then redeem them for stays.

Who should skip : Although this card offers some of the best hotel benefits, it might not be a great fit for travelers looking for high-value points (according to Bankrate , Hilton Honors points are worth an average of 0.6 cents per point). It could take a while to accumulate the points to redeem for your next stay.

Delta SkyMiles Blue American Express Card: Best card for Delta Air Lines passengers

Why we picked it : If you live near a Delta hub, taking advantage of their co-branded Amex card could be a great choice. With the Delta SkyMiles® Blue American Express Card , you can earn 2X miles at restaurants worldwide and on eligible Delta purchases. Other purchases get you 1X point.

As a co-branded American Express card, the Delta SkyMiles Blue Card provides card benefits other Amex cardholders receive, such as car rental insurance, event presales, lowest hotel rate guarantee, purchase protection and extended warranty coverage. New cardholders will be rewarded 10,000 miles if they spend $1,000 within six months.

• Your Delta miles won’t expire.
• You can book trips without blackout dates.
• You can earn unlimited miles.
• Miles are redeemable for flights, flight upgrades, car rentals, merchandise and more.
• Stopovers are not allowed.
• You’ll likely pay fuel surcharges on some partners and on Delta one-way flights from Europe.

Who should apply : This card is suitable for casual travelers who are loyal to Delta Air Lines but don’t require the luxury of free checked bags or priority seating.

Who should skip : Frequent fliers looking for free checked bags or priority boarding should consider another credit card. People who fly a variety of airlines, not just Delta, have no need to tie themselves to a co-branded Delta card, and they could opt for a flexible rewards card instead.

Compare the best no-annual-fee travel cards

How to choose a no-annual-fee travel credit card.

When narrowing down the choices among the best travel credit cards with no annual fee, you should keep in mind what features you want. Because these cards don’t have an annual fee, like elite or luxury travel cards, it might be difficult to find all the best features in just one card. Try to focus on the card benefits that matter most to you, such as extended warranty coverage, to help you eliminate the cards that don’t have them and decide on the ones that do.

Here are a few features to look for in a no-annual-fee travel card:

• You may earn a welcome bonus.
• The card offers an intro APR period for balance transfers or purchases (or both).
• There is a high earning potential for travel-related spending.
• You may combine rewards with other cards to boost rewards value.
• The rewards program has minimal restrictions like blackout dates or expiration on rewards.
• The redemption options are flexible, offering redemptions, such as cash, gift cards, statement credits, Amazon.com purchases or travel booked through the issuer’s portal.
• The card benefits include trip protection, luggage insurance, hotel discounts, airline discounts, roadside assistance and more.

Bottom line

If you match your spending and travel habits to the available options, finding the best travel credit card with no annual fee shouldn’t be difficult. The best card will ultimately be the one that enables you to earn decent rewards on everyday expenses. Then you can use those rewards to cover your travel expenses.

*Information about the Chase Freedom Unlimited has been collected independently by CreditCards.com. The issuer did not provide the details, nor is it responsible for their accuracy.

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

Aja McClanahan is a CreditCards.com personal finance contributor.

On this page

• Best for flexible spending
• Best for simplicity
• Best for a travel card combo
• Best first-year bonus
• Best for Hilton stays
• Best for Delta Air Lines
• Comparing cards
• How to choose a card

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12 best no annual fee credit cards of May 2024

The best no-annual-fee credit cards offer cash back, travel credits and other perks — and can be a great way to maximize your rewards while minimizing costs. And since there’s no shortage of quality cards to choose from, you might even find that having more than one cash-back card will offer you even more opportunities to earn rewards that you can redeem as you see fit.

TPG editors have curated this list of top picks that feature cards with generous rates of cash back across multiple categories like dining, entertainment, office supplies and more. Here are the best no-annual-fee credit cards from our partners.

• Capital One VentureOne Rewards Credit Card : Best for airline transfer partners
• Chase Freedom Unlimited® : Best for flexible cash rewards
• Ink Business Unlimited® Credit Card : Best for freelancers
• Capital One SavorOne Cash Rewards Credit Card : Best for dining and entertainment
• Bank of America® Travel Rewards credit card : Best for existing Bank of America customers
• Capital One Quicksilver Cash Rewards Credit Card : Best for beginner cash back
• The Blue Business® Plus Credit Card from American Express : Best for Best no annual fee Amex card
• Bilt Mastercard® : Best for renters
• Wells Fargo Autograph℠ Card : Best for Quality perks for no annual fee
• Chase Freedom Flex℠ : Best for rotating bonus categories
• Bank of America® Customized Cash Rewards credit card : Best for customizable rewards structure
• Ink Business Cash® Credit Card : Best for office supplies

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Comparing the best credit cards, more details on the best credit cards, maximizing no annual fee credit cards, how we rate cards, what is a no annual fee card, how to choose the best no annual fee credit card, ask our experts, pros + cons of no annual fee credit cards, frequently asked questions (faqs), capital one ventureone rewards credit card.

If you’re looking to dip your toes into the world of travel rewards, the Capital One VentureOne Rewards Credit Card is a great way to get started. With no annual fee and a simple earning structure on all your purchases, you won’t have to keep up with multiple bonus categories — just earn rewards on everything you purchase. Read our full review of the  Capital One VentureOne Rewards Credit Card .

• No annual fee
• Sign-up bonus
• Simple earning structure
• No foreign transaction fees
• Lack of bonus categories can limit earning potential
• Airline transfer partners do not include any large U.S. airlines
• $0 annual fee and no foreign transaction fees
• Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
• Earn unlimited 1.25X miles on every purchase, every day
• Miles won't expire for the life of the account and there's no limit to how many you can earn
• Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
• Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
• Transfer your miles to your choice of 15+ travel loyalty programs
• Enjoy 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies

Chase Freedom Unlimited®

The Chase Freedom Unlimited is a surprisingly powerful card that earns cash back on every purchase. However, it doubles in potential value if you pair it with a card that earns transferable Ultimate Rewards points. Read our full  review of the Chase Freedom Unlimited .

• Multiple bonus categories
• Incredible value when paired with a premium Chase card
• Limited card perks and benefits
• Foreign transaction fees
• Intro Offer: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
• Enjoy 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
• After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
• No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
• Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
• No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
• Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
• Member FDIC

Ink Business Unlimited® Credit Card

The Ink Business Unlimited’ s sign-up bonus gives you a generous $750 cash back spending $6,000 on purchases in the first three months from account opening plus unlimited 1.5% cash back on every business purchase. It fills in rewards gaps not covered by the Ink Business Cash® Credit Card and the Ink Business Preferred® Credit Card. You can maximize this card by pairing it with cards including the Chase Sapphire Reserve®, the Chase Sapphire Preferred® Card and the Ink Business Preferred. Read our full review of the Ink Business Unlimited Credit Card .

• A generous sign-up bonus
• High spend to receive sign-up bonus
• No conversion to Chase points without holding the Chase Sapphire Reserve, Chase Sapphire Preferred or Ink Business Preferred
• Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
• Earn unlimited 1.5% cash back on every purchase made for your business
• No Annual Fee
• Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
• Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
• Round-the-clock monitoring for unusual credit card purchases
• With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
• 0% introductory APR for 12 months on purchases

Capital One SavorOne Cash Rewards Credit Card

The Capital One SavorOne Cash Rewards Credit Card is a great cash back credit card for beginners looking for a solid rewards structure and no annual fee. Dining, entertainment and groceries are high-value bonus categories, and it’s rare for a card to hit all three. Read our full  review of the Capital One SavorOne Cash Rewards Credit Card .

• Unlimited bonus cash back
• Wide range of bonus categories
• Long period for introductory 0% APR
• Small sign-up bonus
• Low cash-back on non-bonus earning categories
• Bonus rates on travel only apply through Capital One Travel
• Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
• Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases
• Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024
• Earn 8% cash back on Capital One Entertainment purchases
• Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
• No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
• 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies
• No foreign transaction fee

Bank of America® Travel Rewards credit card

If you’re just starting out with credit cards and travel rewards, the Bank of America Travel Rewards credit card is a great foundational card. There’s no annual fee or foreign transaction fees, making this the perfect card to take on your international travels. You’ll also earn points on every purchase, with no exceptions or point cap. Read our full  review of the Bank of America Travel Rewards credit card .

• Flat rate on all purchases
• No travel or purchase protections
• No travel transfer partners
• Lack of bonus categories
• Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
• 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
• Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
• Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
• 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
• If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
• Contactless Cards - The security of a chip card, with the convenience of a tap.
• This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card is a decent option for those in need of a straightforward cash back card. However, there are other options that offer more flexibility to redeem your rewards. Read our full  review of the Capital One Quicksilver Cash Rewards Credit Card .

• Unlimited cash back on all purchases
• Cash back doesn't expire
• Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
• Earn unlimited 1.5% cash back on every purchase, every day
• Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
• No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn

The Blue Business® Plus Credit Card from American Express

The Blue Business Plus is a great card for small business owners who want to earn lucrative Membership Rewards points on everyday business spending. It was created specifically for sole proprietorships and start-ups with limited revenue who would appreciate a card with an introductory interest rate and expanded buying power. Read our full  review of the Blue Business Plus Credit Card from American Express .

• Earn Membership Rewards points; transfer points to a range of travel partners
• 2 points per dollar spent capped at $50,000 a calendar year (then 1 point per dollar thereafter)
• No higher bonus categories for business-related spending
• Earn 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
• 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% - 26.49%, based on your creditworthiness and other factors at account opening. APR will not exceed 29.99%
• Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
• You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
• *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors.
• Terms Apply

Bilt Mastercard®

The Bilt Rewards Mastercard is a credit card that allows renters to earn one point per dollar on their rent payments, without incurring transaction fees. In addition, you can earn 3 points per dollar on restaurants and 2 points per dollar on travel (must make five transactions per statement period to earn points). Bilt Rewards points are transferable points and can be transferred to 14 airline partners and three hotel partners. Despite having no annual fee, the Bilt Rewards card features great travel and dining benefits like Trip Cancellation and Interruption Protection and World Elite Mastercard Concierge Service. Read more about the Bilt Rewards card here .

• Earn points on rent with no transaction fees
• Transfer points to multiple travel partners
• Variety of travel benefits
• No welcome bonus
• Must make five purchases per statement period to earn points
• Select "Apply Now" to take advantage of this specific offer and learn more about product features, terms and conditions.
• $0 Annual Fee.
• Earn 1x points on rent payments without the transaction fee, up to 100,000 points each calendar year.
• 2x points on travel.
• 3x points on dining.
• 1x points on other purchases.
• Earn points when you make 5 transactions that post each statement period.
• When renting at a Bilt Alliance property, you can choose to have your rent payments automatically reported by Bilt to the three major credit bureaus each month; Experian™, TransUnion™, and Equifax™.
• Rates & Fees . Rewards & Benefits .

Wells Fargo Autograph℠ Card

The Wells Fargo Autograph card packs a punch for a no-annual-fee product, with an array of bonus categories plus solid perks and straightforward redemption options. Read our full review of the Wells Fargo Autograph  here .

• This card offers 3 points per dollar on various everyday purchases with no annual fee
• Enjoy up to $600 in cellphone protection when you pay your monthly bill with the card (subject to a $25 deductible)
• Doesn't offer any ways to maximize your redemptions — you're limited to fixed-value rewards like gift cards and statement credits
• Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value.
• Earn unlimited 3X points on the things that really add up - like restaurants, travel, gas stations, transit, popular streaming services, and phone plans. Plus, earn 1X points on other purchases.
• $0 annual fee.
• 0% intro APR for 12 months from account opening on purchases. 20.24%, 25.24%, or 29.99% variable APR thereafter.
• Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
• Redeem your rewards points for travel, gift cards, or statement credits. Or shop at millions of online stores and redeem your rewards when you check out with PayPal.
• Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.

Chase Freedom Flex℠

The Chase Freedom Flex delivers a formidable 5% cash back on select bonus categories and travel purchased through Chase Ultimate Rewards. This card is an excellent addition to your wallet as it provides ongoing rewards, a welcoming sign-up bonus and no annual fee to worry about. Read our full  review of the Chase Freedom Flex .

• Rotating cash-back categories
• High bonus earning rate
• Cellphone protection
• Bonus rate must be activated each quarter
• Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
• 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
• 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
• 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
• 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
• No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Flex℠ card
• Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.

Bank of America® Customized Cash Rewards credit card

While many credit cards offer bonus points for set categories, the Bank of America Customized Cash lets you maximize your spending based on your lifestyle. You get to choose 3% cash back in the category of your choice each calendar month — from gas and EV charging stations, online shopping (including cable, streaming, internet, and phone services), dining, home improvements and more — then 2% back on groceries and wholesale clubs (for the first $2,500 combined purchases each quarter) and 1% on everything else. Read our full  review of the Bank of American Customized Cash card .

• Customized bonus category
• Cap on bonus earning rate
• $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
• Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
• Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishings purchases.
• If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
• No annual fee and cash rewards don’t expire as long as your account remains open.

Ink Business Cash® Credit Card

The Chase Ink Business Cash is an excellent no-annual-fee card for small business owners. Cardholders can earn 5% cash back on office supplies and select utilities, as well as 2% cash back at restaurants and gas stations. Read our full  review of the Chase Ink Business Cash card .

• High sign-up bonus
• Introductory 0% APR period
• Multiple business-focused bonus categories
• Low earning rate for non-bonus categories
• Capped bonus earning
• Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening
• Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
• Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
• 10% Business Relationship Bonus If you have the Ink Business Cash card plus a Chase Business Checking account on your first card anniversary
• Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.

The VentureOne is a solid earner with no annual fee. It offers cardholders a simplistic approach to earning miles and is also a great introductory card if you’ve been considering joining the Capital One Venture credit card family. Once you get a feel for using and redeeming rewards with the VentureOne, you may want to consider upgrading or adding another card in the Venture family — like the Capital One Venture Rewards Credit Card, Capital One Venture X Rewards Credit Card or Capital One Venture X Business — to your wallet.

 The VentureOne is a great fit for travelers who want to start the points and miles journey but aren’t quite ready for a more premium credit card with a heftier annual fee. This simple earning structure also provides a great introduction for flyers looking into rewards traveling.

For a no-annual-fee card, the VentureOne offers solid earning rates. Capital One also has several airline and hotel partners with which you can transfer your earned miles including Avianca LifeMiles, British Airways Avios, Etihad Guest and Turkish Airlines Miles & Smiles.

If you’re ready to dive into the rewards game and don’t mind paying an annual fee, the Capital One Venture Rewards Credit Card earns more than the VentureOne card (2 miles per dollar spent vs. 1.25 miles per dollar spent, respectively). If you want to unlock higher reward rates, several TPG editors are fans of the Capital One Venture X Rewards Credit Card although it’s worth noting that this card has a $395 annual fee (see rates and fees ).

The Chase Freedom Unlimited features a simple earning structure and a flat 1.5% earning rate on all other purchases outside of key categories. This makes it a great go-to for everyday spending, especially to fill in any gaps in your earning strategy.

If you’re relatively new to credit card rewards programs, the Freedom Unlimited is a solid card to get started with since its earning categories are pretty straightforward and there are no rotating categories you have to worry about tracking and activating.

“The Chase Freedom Unlimited is a great option, especially for anyone with a card like the Sapphire Preferred or Sapphire Reserve. It has solid bonus categories but also gives 1.5% back on all other purchases. And, if you have a higher-end Chase card, you can effectively convert these cash-back earnings into fully transferable Ultimate Rewards points.” — Nick Ewen, Director of Content

Those seeking a travel rewards card with no annual fee should consider the Capital One VentureOne Rewards Credit Card . It earns 5 miles per dollar spent on hotels and rental cars booked through Capital One Travel in addition to 1.25 miles per dollar spent on all other purchases. The VentureOne Rewards is also has no foreign transaction fees making it an ideal travel companion, especially for starters (see rates and fees ).

The Ink Business Unlimited credit card offers a simple but valuable rewards structure for cash back business expenses in non-bonus earning categories. Plus, you can also pair it with another Ultimate Rewards card for optimal value.

This card is ideal for small business owners looking for a flat-rate, cash-back business card. With no annual fee and a 0% intro APR on purchases made within the first 12 months from account earning (a variable APR of 18.49% t0 24.49% will apply after), cardholders take advantage of making business purchases without worrying about accruing interest (although at TPG we always recommend paying off credit card balances in full whenever possible).

"I have the Chase Ink Business trilogy — the Ink Business Cash, Ink Preferred and Ink Unlimited cards. The first two cards maximize my points-earning on things like office supply, internet and phone purchases, whilst the Ink Unlimited covers everything else, with a flat 1.5% earn rate. The fact that I have the Ink Preferred means I can convert my cash-back from the Ink Unlimited into more valuable Chase Ultimate Rewards points. This no-annual-fee card will stay in my wallet for years to come." — Matt Moffitt , senior credit cards editor

If you anticipate larger business expenses, you may want to consider the Ink Business Preferred® Credit Card  that earns points across several bonus categories including travel and advertising. The 100,000-point welcome bonus on the Ink Business Preferred is generous although it does require that you spend $8,000 in the first three months from account opening to earn it.

The Capital One SavorOne Cash Rewards credit card is a decent travel card thanks to no foreign transaction fees and a healthy 5% cash back on hotels and rental cars booked through Capital One Travel.

Budget-conscious foodies, entertainment enthusiasts and Capital One Venture Rewards cardholders will find lots of value in the SavorOne Cash Rewards card. You’ll enjoy a generous 8% cash back on Capital One Entertainment purchases and 3% cash back on dining, eligible streaming services and grocery stores (excluding Walmart® and Target®).

If you frequently spend on entertainment, the 8% cash-back rate on the SavorOne is hard to beat. This card is also a solid earner if you frequently spend on dining and groceries with an unlimited 3% cash back in both categories. If you’re interested in getting started with a no-annual-fee rewards credit card, the SavorOne could be a great fit, depending on where you spend the most.

If you want a card that earns miles instead of cash back and also has no annual fee, you may be interested in the Capital One VentureOne Rewards Credit Card (see rates and fees ). The VentureOne earns 5 miles per dollar on hotels and rental cars booked via the Capital One Travel portal and 1.25 miles per dollar on every purchase, every day.

The Bank of America Travel Rewards credit card features no foreign transaction fees in addition to no annual fee and earns an unlimited flat rate of 1.5 points per dollar spent on all purchases. This means there’s no need to track rotating rewards categories and you can shop with the convenience of knowing you’re earning points each time you tap your card.

Those new to travel rewards will appreciate the ease of use that comes with the Bank of America Travel Rewards credit card. Earning and redeeming earned points is simple making this a great starter travel card. If you’re looking for a no-fuss rewards card, the Bank of America Travel Rewards credit card might be a great fit for you.

Although you won’t get access to luxury perks that other travel credit cards offer, the Bank of America Travel Rewards card does offer certain travel protections that include auto rental insurance, zero fraud liability and roadside assistance.

If you’re seeking more travel protections and a more rewarding earning program, the Chase Sapphire Preferred® Card  is an excellent choice that’s beloved by several TPG editors. The caveat is that it does feature a $95 annual fee; the Sapphire Preferred more than pays for itself, though, if you take advantage of the credits the card offers, earning categories and use transfer partners or book trips through the Chase travel portal.

The Capital One Quicksilver Cash Rewards credit card offers unlimited 5% cash back on hotels and rental cars when you book through Capital One Travel. We love that there’s no cap on the amount of cash back you can earn in these travel categories especially since that 5% offer is attached to a card with no annual fee.

The Capital One Quicksilver Cash Rewards credit card is a great starter card for the travel enthusiast who wants to get a feel for using a rewards credit card when booking travel. If you plan to graduate to a higher tier Capital One card — like the Venture or Venture X cards, for example — the Quicksilver serves as a great introductory card until you’re ready to upgrade.

The Quicksilver also earns an unlimited 1.5% cash back on every other purchase, making for uncapped earning possibilities. This card has no minimum redemption amount which means you can utilize your rewards as you see fit, whether it’s to help pay off your balance in the form of a statement credit or using your earnings to help offset the cost of travel bookings.

If you’re looking for a travel card that features similar earning rates to the Quicksilver Cash Rewards card, the Capital One VentureOne Rewards Credit Card is a solid option. The VentureOne earns 5 miles per dollar spent on hotels and rental cars booked through Capital One Travel and 1.25 miles per dollar on every purchase, every day. This means you earn miles every time you tap your VentureOne card, regardless of what you’re purchasing.

The Blue Business Plus Amex card offers a simple earning structure that lets cardholders earn 2 points per dollar spent on the first $50,000 in purchases every calendar year (then 1 point per dollar thereafter). We also like that Amex allows Blue Business Plus cardholders to get up to 99 employee cards without incurring an added cost.

The Amex Blue Business Plus is a great credit card for small business owners who don't have to contend with massive overhead costs. If your business spending is somewhere around $50,000 annually, you can take advantage of maxing out the 2 points per dollar earnings.

"There are very few no-annual-fee cards that award fully transferable points, but the Amex Blue Business Plus is one of them. Not only that, you'll earn 2 Membership Rewards points for every dollar you spend (on up to $50,000 each year). That's a fantastic return of 4% back based on TPG's valuation, making this a great option for your small business needs." — Nick Ewen, director of content

If you're looking for something different than what the Amex Blue Business Plus offers, consider Chase's Ink Business Unlimited® Credit Card . It's also free of an annual fee and earns a decent 1.5% cash back on all purchases you make with it.

The Bilt Mastercard allows you to earn points on your rent, generally a large monthly expense, without transaction fees. In addition, you can earn elevated rewards on travel and dining. The Bilt Mastercard is a great way for renters to get cash back on their largest expenses, and the card comes with many travel benefits and no annual fee! 

Renters who are looking for a way to earn travel rewards on their rent, without transaction fees, can find a lot of benefits in this card. 

The Bilt card can be a great addition to your wallet because no other card lets you earn on rent as widely. In addition, it comes with travel and Cellular Telephone Protection while featuring no annual fee — making this card a no-brainer for any renter’s wallet. 

Unfortunately, there is no other credit card like the Bilt Mastercard. If you are looking for a simple cash-back card and your landlord takes credit cards without charging a transaction fee, consider the Citi Double Cash® Card (see rates and fees ) which earns 2% back on all purchases (1% when you buy and 1% when you pay your bill).

You can earn an unlimited 3 points per dollar across several categories — including dining at restaurants, food delivery services, takeout, travel, gas, transit and eligible streaming services and phone plans. We also love that you can redeem your points as a statement credit with a qualifying Wells Fargo credit card, checking account and even a Wells Fargo mortgage.

If you’re looking for solid earning potential in addition to travel and shopping protections — all for no annual fee — the Wells Fargo Autograph credit card is a good option. Plus, if you’re an existing Wells Fargo customer, the Autograph card is likely to be a good fit in your credit card rewards rotation.

In addition to a decent earning structure, the Wells Fargo Autograph credit card features pretty solid protections, to boot. This includes cell phone protection (up to $600, subject to a $25 deductible) against damage or theft, an auto collision damage waiver and travel and emergency services assistance.

Those who want a card that easily fits their spend and earn strategy and also frequently make purchases in the entertainment category will enjoy the Capital One SavorOne Cash Rewards Credit Card . The SavorOne earns a generous 8% cash back on Capital One entertainment purchases, 5% cash back on hotels and rental cars booked through Capital One Travel and 3% cash back on dining, eligible streaming services and grocery stores (excluding Walmart® and Target®). This is all on top of the base 1% cash back cardholders earn on all other purchases without the added cost of an annual fee (see rates and fees ).

The Chase Freedom Flex features strong earning rates across various categories including 5% on travel (booked through Chase Ultimate Rewards), 3% on dining and drugstore purchases and 1% on all other purchases — all for no annual fee.

The Chase Freedom Flex is an excellent card for those who have another Chase card that earns transferable Ultimate Rewards points. This allows you to combine the rewards from both cards and then utilize your earnings for travel purchases with Chase’s airline and hotel partners.

“I love when a cash-back card is more than a cash-back card, and that's definitely the case with the Chase Freedom Flex. I can effectively convert the cash-back rewards on this card into fully transferable Ultimate Rewards points since I also have the Chase Sapphire Reserve — opening up fantastic redemptions like luxury World of Hyatt properties and top-notch premium cabins.” — Nick Ewen, Director of Content

The Chase Freedom Unlimited® is another solid option for earning cash back in popular spend categories. The Freedom Unlimited earns the same as the Freedom Flex in travel, dining and drugstore purchases but earns 1.5% cash back on all other purchases making it an excellent choice if you want a flat-rate cash back credit card that also has no annual fee.

In addition to no annual fee, the Bank of America Customized Cash Rewards credit card offers cardholders a choose-your-category rewards structure that’s adjustable to fit their specific spending habits.

Current Bank of America customers curious about getting into the credit card rewards game should consider applying for the Customized Cash Rewards card. Those interested in redeeming their earned cash back as statement credits can do so with this card in addition to depositing cash back into an eligible Bank of America or Merrill account.

“This card is a great multipurpose tool in my wallet because it lets me pick a 3% cashback earning category each month. If I know I have some purchases coming up that don’t line up with a card where I get a solid earning rate, I’ll swap my 3% category and use this card to maximize my rewards. I also appreciate the clear information in the Bank of America app that shows me exactly what types of merchants line up into each spending category, so it’s easy to make my 3% category choice.” — Gabe Travers, vice president of engineering

Those who are new to credit card rewards and cash back earning programs but don’t want to keep track of monthly rotating cash-back categories may be more interested in the Capital One VentureOne Rewards Creit Card , which earns 1.25 miles per dollar on every purchase you make. If cash back is more your speed, the Capital One Quicksilver Cash Rewards Credit Card  earns an unlimited 1.5% cash back on every dollar spent.

First, we’re fans of the Ink Business Cash credit card because it doesn’t require cardholders to pay an annual fee. Second, we also love that the Ink Business Cash is a great credit card for those who also have another Chase card — like the Chase Sapphire Preferred — that makes it easy to transfer, earn and redeem Chase Ultimate Rewards points.

The Ink Business Cash credit card is a solid choice for any small business that frequently spends in the office supply store and internet, cable and phone categories. This card is also great for those who want to earn cash back every time they tap their card since it earns a flat-rate 1% cash back in all other categories outside of those mentioned above, gas stations and restaurants.

“I have the Chase Ink Business trilogy — the Ink Business Cash, Ink Preferred and Ink Unlimited cards. The first two cards maximize my points-earning on things like office supplies, internet and phone purchases, whilst the Ink Unlimited covers everything else, with a flat 1.5% earn rate. The fact that I have the Ink Preferred means I can convert my cash-back from the Ink Unlimited into more valuable Chase Ultimate Rewards points. This no-annual-fee card will stay in my wallet for years to come.” — Matt Moffitt, senior credit cards editor

If you’re seeking more than what the Ink Business Cash has to offer, consider the Ink Business Unlimited® Credit Card , which also features no annual fee and a healthy $750 cash back welcome offer when you spend $6,000 in the first three months from account opening. One of the biggest perks of the Ink Business Unlimited is its flexible redemption options that include gift cards, travel and more via the Chase Ultimate Rewards portal.

Take advantage of the welcome offer

Several no-annual-fee credit cards feature decent welcome offers with low spend thresholds. We recommend choosing a credit card that will earn you rewards you can redeem for cash back or transferable points or miles so you get the most bang for your buck. 

It’s also worth noting that you should check the time frame you’re given to reach that spend threshold so you don’t risk the chance of missing out on it.

Pay the balance off in full each month

One of the reasons no annual fee credit cards are great is right in the name: they don’t require cardholders to pay an annual fee to keep it in their wallets. If you’re trying to cut costs or stick to a budget, another great way to keep some cash in your wallet is to pay off the balance on your no-annual-fee credit card each month.

At TPG, we always advise against carrying a balance month-to-month since it saves you interest charges (which can be quite hefty and add up quickly, to boot).

Create an earning strategy

It’s a good idea to create a spending and earning strategy when opening any new credit card. Doing so lets you take advantage of the welcome bonus and maximize your reward earnings — whether they’re points, miles or cash back.

An earning strategy is also helpful if you carry several credit cards and rotate them to earn maximum points, rewards and other perks. For example, once you know what your key spending categories are, you can match certain cards to recurring or daily expenses to earn more in each category, depending on the earning rate on that specific credit card.

A no annual fee credit card provides you with the ability to access a line of credit and earn rewards like cash back and miles without the added cost of paying a yearly fee to be a cardholder. 

A no annual fee credit card is a great way to earn redeemable rewards if you’re new to the points and miles game.

Who should get a credit card with no annual fee?

A no annual fee credit card is a great choice for people who like to adhere to a budget while optimizing their spending without incurring the additional cost of being a cardholder.

• 1 Sign-up bonus Choose a no annual fee card that provides the opportunity to earn a sign-up bonus, as these are typically a great way to boost your cash back, points or miles rewards. Another plus? No annual fee cards don’t usually have high spend requirements in order to obtain a sign-up bonus making it even easier to increase your reward amount.
• 2 Annual fee The beauty of a no annual fee card is that you don’t have to worry about paying to keep it in your wallet. And you still get the added benefits of earning points, miles and cash back like you would with a more premium card, to boot.
• 3 Bonus categories Our picks feature decent earning rates across several bonus categories, ensuring there’s a good fit for those looking to maximize rewards without paying an annual fee on a credit card.

What's your favorite no annual fee card — and why?

• Great way to get started in the world of points and miles
• Many no annual fee cards offer rotating bonus categories making it easier to maximize your rewards
• No annual fee cards with flat earning rates on all purchases are great ways to fill in the gaps in your spend/earn strategy
• These cards typically offer smaller welcome bonuses than more premium cards

You’ll see us say this a lot because, frankly, it’s the truth: the best credit cards — whether we’re talking about the best airline, grocery or no annual fee credit cards — are the ones that align with your financial goals and spending habits.

The best no annual fee credit card for you might be one that earns a flat-rate on all purchases if you don’t want to track rotating cash back categories. If you don’t mind tracking and activating rotating categories, then you may want to opt in for a no annual fee card that features higher earning rates you have to track on a monthly or quarterly basis.

The application process for a no annual fee credit card is straightforward. You can click on any of the ‘Apply Now’ links on this page to get started.

No annual fee credit cards are excellent for those who want to get involved in the credit card rewards game as well as those who want to earn cash back or points without the added expense of an annual fee. 

There are a couple of great no annual fee cards that offer killer rewards, such as the Capital One SavorOne Cash Rewards Credit Card (see rates and fees ). The SavorOne offers cardholders 8% cash back on Capital One entertainment purchases, 5% cash back on hotels and rental cars booked through Capital One Travel and 3% cash back on dining, entertainment, select streaming services and grocery stores (excluding Walmart® and Target®).

If any of the above are categories you frequently spend in, the SavorOne may be a solid no annual fee credit card to add to your wallet.

It’s possible to downgrade a credit card with a fee to a no-fee card by calling your issuer’s customer service line and requesting this change. The phone number can usually be found on the back of your current card.

It depends. If you’re interested in having an annual fee on a credit card waived, you can call your issuer’s customer service department and ask if they’d be willing to waive the annual fee in order to keep you as a cardholder.

That being said, the decision will be up to the representative you speak with; they may tell you they can waive the fee for a year, or they may say they can’t waive an annual fee, even if that means losing you as a customer.

If you don’t want to worry about annual fees, consider applying for one of the cards on this list. Several options include decent welcome offers, earning categories and even unlimited cash back — all for no annual fee.

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Best Travel Cards with No Annual Fees [2024 Guide]: Debit & Credit Options

Travel cards are optimized for international use, with extras like ways to hold a foreign currency balance, extra rewards when you spend overseas, or easy ways to avoid foreign transaction fees.

Travel cards can be either debit or credit cards, and may be issued by major banks, card networks, or specialist non-bank alternatives like Wise or Revolut . Whichever you choose, picking a card with no annual fee can mean you get all the perks when you travel, but don’t have to pay ongoing costs.

This guide walks through 5 of the best travel cards with no annual fee for US customers, so you can see if any might fit your specific spending needs.

Key points: Best cards with no annual fees

Here are the cards we’ll investigate in more detail as we dive into the best travel cards with no annual fees:

• Wise Travel Debit Card : Hold 40+ currencies, and spend with the mid-market exchange rate and low fees from 0.43% in 150+ countries
• Revolut Travel Debit Card : Hold 25+ currencies, and pick your account plan to suit your needs and spending pattern – no-fee currency exchange available to fixed plan limits
• Capital One 360 Debit Card: Spend internationally with no foreign transaction fee – and very few fees to worry about overall; network exchange rates apply
• Bank of America Travel Rewards Travel Credit Card: Spend and earn rewards, with no foreign transaction fee and no annual fee
• Discover Travel Credit Card: Travel credit card with no foreign transaction fee and extra perks like reward points that never expire

Go to Wise Go to Revolut  

We’ll take a look at each provider more in detail, later.

Are there travel cards with no annual fee?

Yes, you can get travel cards without annual fees, including debit and credit cards. Generally travel cards have some features specific to international use, whether that’s ways to hold a foreign currency balance, no foreign transaction fees, or extra cash back when you spend overseas.

Picking a card with no annual fee – or no monthly fees – means you can use your card as and when you like, with no ongoing costs to cover. This guide looks at both debit and credit cards, including major bank options – and some alternatives you may like to consider, like Wise and Revolut.

Best international travel cards with no annual fees 2023

This guide walks through a selection of no annual fee travel cards from different provider types. We’ve got a couple of smart international debit cards from non-bank providers, plus a debit card from a major bank, and 2 travel credit cards. This gives a great overview into the options available for US customers – let’s start with a head to head comparison, and dive into the detail right after:

*Details correct at time of writing – 7th December 2023

Wise Travel Debit Card

Who is it for? Customers looking for low cost ways to hold, send, spend, and exchange 40+ currencies with a handy, low cost travel debit card

Wise is a specialist provider which has digital account options you can use to hold 40+ currencies and spend internationally with a linked debit card which is accepted globally.

Add money in USD and simply allow the card to make the conversion at the point of transaction, or convert your funds to the currency you need ahead of time. In either case you get the mid-market rate and low, transparent fees – plus some free ATM withdrawals globally every month.

• Hold and exchange 40+ currencies
• Manage your money with just your phone
• Mid-market currency exchange with conversion fees as low as 0.43%
• Spend in 150+ countries
• No ongoing fees or minimum balance

Wise fees: 9 USD card order fee: 1.5 USD + 2% ATM fee once free withdrawals are exhausted; currency exchange from 0.43%

Here’s how to order your Wise card :

• Register a Wise account online or in the Wise app
• Add a currency balance in USD or another supported top up currency
• Tap the Cards tab in the app, and follow the prompts to order your card
• Complete any required verification step
• Pay the one time fee, and your card will be mailed to you

Go to Wise Learn more: Wise card review

Revolut Travel Debit Card

Who is it for? Customers looking for a travel debit card for 25+ currencies, which also comes with extras like accounts for under 18s, and options to upgrade to an account with annual/monthly fees for more perks

Revolut offers various different account options for US customers, including the Standard plan which has no monthly or annual fee. If you’d prefer you can upgrade to an account with monthly costs, which also unlocks extra benefits and higher no fee transaction limits. This gives flexibility to pick the account that suits your spending habits.

All Revolut accounts can hold and exchange 25+ currencies, and come with a linked debit card for global spending. You’ll get mid-market exchange rates to your plan’s limits, then pay a 0.5% fair usage fee. There are also some no fee ATM withdrawals monthly with all accounts.

• Hold and exchange 25+ currencies – all accounts have some no-fee currency conversion every month
• Choose from an account with no monthly or annual fee, or upgrade to an account with ongoing fees if you’d rather
• Get extras like accounts for younger family members and ways to save
• In network ATM withdrawals have no fees; accounts have some no fee out of network withdrawals monthly

Go to Revolut

Revolut fees Standard plans have no monthly fee, Premium plans – 9.99 USD/month, Metal plans – 16.99 USD/month; Some no fee ATM withdrawals monthly, 2% fees after that; Mid-market rate currency exchange to plan limit; fair usage fee of 0.5% after that; 1% out of hours currency conversion fee

Here’s how to order your Revolut card :

• Register a Revolut account in the Revolut app
• Tap Cards, and then Add new
• Complete your mailing details, and your card will be mailed to you

Capital One 360 Debit Card

Who is it for? Customers looking for a low fee checking account with no ongoing charges, and a debit card which has no foreign transaction fees

If you’d prefer a travel card which is linked to a checking account from a major US bank, the Capital One 360 account may appeal. It’s a low fee account, with very few transaction costs and no annual or monthly charge for either the card or the underlying account. You’ll not pay any foreign transaction fee, making this a good option for international use as well as home spending. Some features on this account – such as options to make international payments – may be limited, so it’s important to read through the terms and conditions carefully if you intend to use this as a primary checking account.

• No fuss, low fee checking account from an established bank
• No foreign transaction fee when you’re abroad
• No monthly or annual fee to pay for the account or card
• Get all the options you’d expect from a bank – additional services and products are easily available for existing customers

Capital One 360 Debit Card fees: 30 USD domestic wire fee, where available, international wires cost 30 USD – 40 USD; some fees for checking services apply

Here’s how to order your Capital One card:

• Go to the Capital One website and hit Open Account
• Enter your name, address and SSN
• Add a balance
• Once your balance is cleared and your identity is verified, your account will be opened and you’ll get your account and routing number

Go to Capital One

Bank of America Travel Rewards Card

Who is it for? Customers looking for a no annual fee, no foreign transaction fee credit card with reward options and great global acceptance

The Bank of America Travel Rewards Card offers rewards on spending, which you can trade in for flights, hotel stays, vacation rentals, baggage fees, and at restaurants. There are attractive opening offers – at the time of writing these include extra bonus points for new customers and an initial 0% APR. After any opening offers expire, you’ll pay a variable interest on your spending if you don’t repay your bill in full every period, and as with other credit cards, penalty fees may apply if you miss a payment or don’t pay at least the minimum required amount.

• No annual fee and no foreign transaction fee – making this good for overseas use
• Great offers for new customers, including reduced costs and extra bonus points
• Trade in your rewards flexible, for a good range of treats and practical items
• Relatively low cash advance fees – but still more costly than using a debit card

Bank of America Travel Rewards Card fees: 18.24% – 28.24% variable APR after introductory offer; 3% cash advance fee

Here’s how to order your Bank of America card:

• Go to the Bank of America website and hit Apply now
• Enter your personal and contact information
• Follow the prompts to enter the details needed for eligibility checks
• Once your account is approved, you’ll be sent your card in the mail

Discover Travel Credit Card

Who is it for? Customers looking for a travel credit card with great rewards which have flexible redemption options

Discover doesn’t have foreign transaction fees on any of its cards – but we’ve picked out this one in particular as the reward options can be cashed in for travel credit, or cash to make your foreign travel that bit more luxurious. There’s no annual fee, but it’s worth bearing in mind that the cash advance fees are pretty high so you may decide not to use this card to get cash from an ATM to cut your costs overall. Discover isn’t the most popular global network – so it’s also worth checking if it’s commonly available in your destination.

• No foreign transaction fee and no annual fee to pay
• Good reward options including bonus perks for new customers
• Cash in your rewards for different things, depending on your personal preference
• Get access to your FICO credit score as part of the package

Discover Travel Credit Card fees: 17.24% to 28.24% variable APR after introductory offer; 10 USD or 5% cash advance fee

Here’s how to order your Discover card:

• Go to the Discover website and hit Apply now

Go to Discover

How can you avoid paying an annual fee?

Avoiding annual fees can keep down the costs of your spending overall, and allow you to get a card which you use primarily when you travel, with no extra charges to worry about.

Here are a few tips to help you pick out the right travel card:

• Look out for debit or prepaid cards in particular – as they often don’t have any annual fee
• Read your card’s terms and conditions carefully to make sure you’re not caught out by surprise ongoing costs
• See if you can find a card which waives the annual fee for new customers – this can be a low risk way to see if a travel card suits your needs
• Pick a card from a non-bank alternative like Wise or Revolut which both have account options with no annual or ongoing fees

How do no-annual-fee travel cards work?

A no annual fee travel card allows you to get your card without paying fixed annual, monthly or ongoing charges. You’ll still find some fees apply in most cases – for example, a one time order fee or a card delivery fee, or fees based on how you transact. However, the advantage here is that you can choose a card which only charges you for the specific services you need, so you can use it as and when you need to without having fees to pay when the card is simply sitting at home.

Pros and cons of no annual fee travel cards

• No ongoing charges so just pay the for transactions and services you use
• Cut the costs of international spending
• Cards are convenient and safe to use, at home and abroad
• Travel cards have international benefits, which can include multi-currency balances and no foreign transaction fees
• Cards are available from banks, direct from card networks, and from non-bank alternatives – giving you a great range to choose from
• You may not get all the features and benefits you would with a card which has annual fees
• Transaction fees still apply, which can include cash advance or currency conversion charges
• You’ll need to complete your application for a new card, and wait for it to arrive in most cases – it’s not an instant option

How to get a travel card with no annual fees

Each travel card has its own application process, but in most cases you can order your card online or in an app, and complete all the verification and eligibility checks needed with nothing more than your laptop or phone.

Here’s what you’re likely to need to do to get a travel card with no annual fees:

• Research which card provider might suit your specific needs
• Go to the provider’s app or website and hit Open Account, or Register
• Enter your personal and contact information – usually name, address and SSN
• Complete any verification or eligibility checks needed
• Add a balance if you’re ordering a debit card
• Once everything is checked and approved, your account will be opened and you’ll get all you need to use and manage your card by mail

How to choose the best card for your travel

The right travel card for your needs will depend on how you plan to use it – including how frequently you’ll transact, how often you’ll be transacting overseas, and whether you prefer a debit or credit card. Here are a few things to consider:

If you’ll travel often: Picking a card that lets you hold multi-currency balances – like the Wise or Revolut cards – can reduce the costs of spending in multiple different currencies, without ongoing fees

If you’ll only use your card occasionally: No annual fee cards can be the best bet, particularly debit cards which tend to be cheaper and more flexible overall

If you want to spread the costs of travel: You’ll want to prioritize credit cards, but look carefully at the interest, including any introductory offers which may help you to reduce costs in the short term

If you want to reduce your costs as much as possible: Debit cards are usually cheaper overall than credit cards, and you can’t accidentally spend more than planned or run up an unexpected bill.

Related: Best travel cards without foreign transaction fees

No annual fee travel cards can offer lots of benefits for anyone who travels frequently – but because there are no ongoing costs, they’re also super helpful for people who only occasionally transact internationally. You’ll only pay for the services you need, and many card providers also have ways to upgrade if you find you use your card regularly and would prefer to pay ongoing charges to unlock more benefits.

If you’re thinking of a debit card which has low costs and lets you hold foreign currency balances, check out the Wise Travel Debit Card which is flexible enough to hold and exchange 40+ currencies, and offers mid-market exchange rates and low, transparent fees. Or if you want to spread the costs of travel over a few months, you might prefer a travel credit card like the Bank of America Travel Rewards Card . You’ll earn rewards as you spend, and although there will be interest to pay, this does allow you to pay back your costs gradually if you choose to.

Use this guide to get you started in picking the right no annual fee travel card for your needs.

FAQs: No annual fee travel cards

Why do some cards have annual fees.

Different travel cards are designed for different customer needs. You’ll be able to find some with no annual fees, such as the flexible debit cards from Wise and Revolut – but if you’re a frequent card user you might prefer a card with an annual fee which can also often have extra perks and benefits as part of the package.

Is a travel card with an annual fee worth it?

Whether or not a travel card will be worthwhile for you depends on how often you travel and how you prefer to manage your money. The benefit of a no annual fee card is that you can test it out with little risk – check out the no annual fee options from Wise and Revolut if you want a flexible debit card which has no ongoing costs and low service charges.

• Disclosures

The Best Travel Credit and Debit Cards with No Foreign Transaction Fees (Updated 2022)

No matter where you go or how long you travel, using a credit or debit card with no foreign transaction fees is one of the easiest ways to save money while travelling, period.

Currency exchange booths at airports and banks can be convenient, but a lot of your money goes towards exchange fees (e.g. $10 per exchange) and hidden commissions padded into poor exchange rates (especially the booths advertising “no commissions”). With a bit of research and planning, you can save  hundreds , if not thousands of dollars in fees over the long-term!

Credit and debit cards with no foreign transaction fees are the cheapest, easiest ways to get money and make payments overseas.  Credit cards are accepted worldwide, and ATMs are internationally networked through the Visa/Plus and Mastercard/Cirrus networks. You enter your PIN and withdraw your cash just like you would at home, while the exchange rates are automatically handled by the banks.

However, some credit and debit cards are better than others!  For the majority of cards, banks still try to add commissions and fees to each payment or ATM withdrawal made abroad. Even if you don't travel a lot, these fees add up quickly.

We've rounded up the best credit and debit cards around the world that minimize or eliminate these fees, putting more money back into your adventure funds!

NOTE: These are cards to be used overseas to avoid foreign transaction fees. For the best all around travel points cards, check out the travel rewards cards section of CardRatings , as well as our free guide “ How to Get Free Flights with Travel Credit Cards and Points “!

The best travel credit cards with no foreign transaction fees

Credit cards have various features that can make or break your travel savings. Ideally, these are the features to look for in a credit card:

• Foreign transaction fee of 0%
• Competitive points or cash-back rewards program (at least 1% of the purchase price)
• Extra perks, like free car or travel insurance

The best travel debit cards with no foreign transaction fees

These are the ideal features to look for in a debit card:

• Foreign transaction rate of 0%
• International ATM withdrawal fee of $0
• Refund of third-party ATM withdrawal fees (This is rare, but it exists!)
• Competitive points or cash-back rewards program (at least 1% of the purchase price)

Many banks around the world have come together to establish the Global ATM Alliance . If your card belongs to a bank in the alliance, you can make withdrawals from banks at other alliance member ATMs around the world without paying additional fees . Here's our roundup of the best debit cards for travel.

Essential tips for using debit and credit cards while travelling

1. pay using a credit card whenever possible..

Foreign ATMs can still inflate their exchange rates and charge withdrawal fees, but a direct credit card payment only involves the credit card you signed up with in your home country. And with a good points or cashback program, this beats any other method of foreign payment.

Bottom line? Always pay with a credit card, but  NEVER withdraw cash from an ATM with one. Credit cards charge interest on cash advances from the moment you withdraw it at the ATM.

2. Never take the option of paying in your own currency

Card terminals at shops and hotels will often detect that your card is from another country and offer to bill you in your home currency. Never choose this option – always pay in the foreign currency!  The exchange rate offered will be inflated by the card terminal, so if you’re using one of the credit cards recommended above, you will receive a much better exchange rate.

3. Inform your debit and credit card providers of your travels

Credit and debit cards are frequently being monitored by security departments for suspicious activity. If you're from the U.S. and you make an ATM withdrawal in Thailand when they don’t know you’re overseas, this could appear suspicious to your bank, and your card might be locked the next time you withdraw. Give your bank or credit card provider a call and let them know when and where you’ll be travelling. Take it from us – you  do not want to be stuck without cash and a useless card!

4. Obtain at least one debit and credit card on each of the Visa/Plus and MasterCard/Cirrus networks.

Even if you follow the advice in tip #3, it’s possible your card could get locked anyway. On top of that, it’s easy to find yourself in a situation where an ATM accepts only one network and not the other. For example, when we travelled in Japan, the only ATMs we could find that would even accept international cards were at 7-Eleven, and they only worked with cards on the Visa/Plus network. I speak from experience – there’s nothing more stressful than needing more cash and not being able to withdraw it, so be prepared and bring multiple cards on multiple networks .

5. Consider a credit card with included insurance

The jury is still out on whether it's safe to rely on car and travel insurance that is sometimes provided by credit cards, and unfortunately, the only way to know for sure is to file a claim after the accident has happened. If you're concerned about insurance, its best to be safe and purchase it from the car rental company, but if not, you might as well pay with a credit card that offers car insurance and hope for the best if you do end up in an accident. We generally try to use American Express cards when thinking about insurance, as they are managing the insurance on the cards worldwide, whereas Visa/Mastercard insurance is often handled by the card's issuing bank, and may not be as straightforward to redeem.

6. Keep backup cards in your hotel room

If you lose all your credit and debit cards while overseas, you're going to be in quite the pickle. Always keep at least one extra card back at your accommodation in case your main card or entire wallet is lost or stolen while you're out.

7. Bring $100 USD as backup cash

When all else fails, U.S. dollars are the closest thing to a global currency that we have today. It's the most commonly accepted currency, not only at exchange booths, but even at shops and restaurants in other countries. If there are no ATMs in sight or your cards have been stolen, an emergency backup of U.S. dollars will get you out an emergency situation.

Do you have another card recommendation? Know something we don't? Write it in the comments below!

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Thrifty Nomads has partnered with CardRatings for our coverage of credit card products. Thrifty Nomads and CardRatings may receive a commission from card issuers. Opinions expressed here are author's alone. Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Nice! This is really helpful thanks!

Great tips for travelers!

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What are the best U.S. debit and credit cards to use overseas?

Just got off a long phone call with HSBC Canada. They are unable to tell me what their card issuer exchange rate surcharge. I had just come back from Mexico and used my HSBC ATM card on a HSBC ATM machine and I calculated the fee to be about 2.1% based on that days interbank rate. Shouldn’t this fee be in the disclosure statements? There was a class action lawsuit I believe many years ago because the credit card companies failed to state their foreign exchange surcharge. From what I’m reading on the Global ATM website is that Visa is involved with the foreign exchange when using an ATM and it states they add a 2.5% foreign exchange fee. You didn’t show this in your nice graphics above. Is it berried in the base exchange rate?

We use Visa Avion, which is good in all categories but I believe they do charge a slight foreign transaction fee. But we have claimed through their default insurance, both car, health, and travel. All minor things, but ya, no issues. The card is not free however, and unless you spend a lot each month or travel frequently it’s not worth it. For us, the points for the business transactions transfer to personal, so it really adds up! (Currently we have more than enough to fly the entire family pretty much anywhere. ) When abroad we usually only use the card for car rental or nicer hotels and of course flights or trains and such (to access insurance benefits one must book the flight etc on that card…) But read the fine print, confirm with the agent. For example, usually to get car insurance you have to wave the rental companies insurance. (This saved us a ton in Africa!) The rental agencies will even phone and confirm if they don’t know the card. These cards were set up for frequent business travelers originally. But read the fine print too, I know our card covers 30 days from home, but you can add insurance to the card for longer trips too. It’s all through RBC, and like any blood sucking corporation there are advantages for the savvy but their ultimate goal is to get you to pay twice for the same thing. Read the fine print, phone your card agent, etc… But we honestly have found the Avion worth it for us because of the company points.

This info is super helpful! For Canadians, what about the Marriott Rewards® Premier Visa® Card? I’ve been looking into credit and debit cards for an upcoming trip to Southeast Asia, and came across this card today. From what I can tell, it seems pretty good (no foreign currency transaction charges and has perks). Anyone have any experience or thoughts on this card? Thanks!

so where do you find that tangerine thrive chequing account info? I have an account with tangerine and I can find no info on this animal on their website

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Best no-foreign-transaction-fee credit cards of May 2024

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Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, credit monitoring and identity theft analysis on NextAdvisor.com, he joined the CreditCards.com and Bankrate teams as a staff writer to develop product reviews and comprehensive credit card guides focused on cash back, credit scores and card offers.

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Foreign transaction fees are just one of the many unnecessary charges travelers and online shoppers are likely to encounter. This surcharge can be up to 3 percent of the cost when making international purchases or withdrawing funds from a foreign ATM. Here’s what you need to know about the best credit cards without foreign transaction fees from our partners, along with some tips on how to avoid other unnecessary fees when shopping internationally.

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Best No Foreign Transaction Fee Credit Cards

• Chase Sapphire Preferred® Card : Best travel card for beginners
• Bank of America® Travel Rewards credit card : Best for expanded travel rewards categories
• Capital One VentureOne Rewards Credit Card : Best overall
• Capital One Quicksilver Cash Rewards Credit Card : Best for flat-rate cash back
• Discover it® Cash Back : Best for bonus category variety
• Chase Sapphire Reserve® : Best for luxury perks
• Capital One Venture Rewards Credit Card : Best for flat-rate travel rewards
• The Platinum Card® from American Express : Best for lounge access
• Capital One Venture X Rewards Credit Card : Best for budget luxury travel
• Discover it® Miles : Best for first-year value
• American Express® Gold Card : Best for travel rewards on dining
• Discover it® Student Cash Back : Best for students

Additional Options:

• American Express® Green Card:  Best for everyday travel
• What to know about foreign transaction fees
• Pros and cons of no-foreign-transaction-fee cards

Expert advice for no-foreign-transaction-fee cards

• What people are saying about no-foreign-transaction-fee cards

How we assess the best cards with no foreign transaction fee

• Frequently asked questions
• Ask the Experts

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A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

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Chase Sapphire Preferred® Card

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

Intro offer

Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠.

Offer valuation

We calculate this number by multiplying the card's intro offer by Bankrate's valuation of this issuer's rewards program , showing you how much your points or miles are worth in dollars.

Rewards rate

5x on travel purchased through Chase Travel℠. 3x on dining, select streaming services and online groceries. 2x on all other travel purchases. 1x on all other purchases.

Regular APR

• 5x 5x on travel purchased through Chase Travel℠.
• 3x 3x on dining, select streaming services and online groceries.
• 2x 2x on all other travel purchases.
• 1x 1x on all other purchases.

What we love: This popular travel credit card operates on all cylinders, touting an excellent rewards rate on travel and dining and a lucrative sign-up bonus. You can also enjoy 25 percent more value when you redeem points for travel through Chase Travel℠. Learn more: Chase Sapphire Preferred card benefits guide Alternatives: Travelers looking for luxury perks such as airport lounge access or free checked bags may prefer the Delta SkyMiles® Gold American Express Card or the Delta SkyMiles® Platinum American Express Card .  

• The easy value boost by simply redeeming rewards for travel through the Chase Travel℠ portal is a stellar feature.
• You’ll get travel perks like trip cancellation/interruption insurance and baggage delay insurance.
• No intro APR offers means you won’t save on interest if you have to carry a balance.
• There’s a steep spending requirement to earn the card’s sign-up bonus.
• Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 75,000 points are worth $937.50 toward travel.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
• Member FDIC

Bank of America® Travel Rewards credit card

• 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
• Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
• 1.5X Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.

What we love: What makes this card stand out is that you can redeem for more than just flights, hotels or rental cars. The Bank of America Travel Rewards card lets you redeem points for statement credits for purchases at campgrounds, zoos, art galleries, aquariums and more. Learn more: Bank of America Travel Rewards credit card benefits guide Alternatives: The Citi Premier® Card is a solid alternative if you don’t mind a modest annual fee in exchange for competitive rewards rates on everyday purchases. 

• Qualifying for the Bank of America Preferred Rewards® program makes this card one of the most lucrative flat-rate travel cards available.
• You could benefit from a temporary break on interest charges thanks to this card’s intro APR offer.
• You won’t get some of the most coveted travel benefits like trip cancellation insurance or complimentary lounge access.
• The minimum amount of points you need to redeem is high compared to other cards.
• Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
• Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
• 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
• If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
• Contactless Cards - The security of a chip card, with the convenience of a tap.
• This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Capital One VentureOne Rewards Credit Card

• Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel

1.25 Miles - 5 Miles

5 Miles per dollar on hotels and rental cars booked through Capital One Travel 1.25 Miles per dollar on every purchase, every day

• 5 Miles 5 Miles per dollar on hotels and rental cars booked through Capital One Travel
• 1.25 Miles 1.25 Miles per dollar on every purchase, every day

What we love: This card is great for low-hassle travel rewards with its flat earning rate and easy redemption of miles for any recent, travel-related purchases, including flights with any airline. Learn more: Is the Capital One VentureOne worth it? Alternatives: While this card is great for someone who doesn’t want to worry about offsetting the cost of an annual fee, travel rewards maximizers who travel often are likely better off with a more premium card, such as the Bank of America® Premium Rewards® credit card .

• Occasional travelers can earn miles on everyday purchases.
• You could potentially increase the value of your miles by transferring them to Capital One’s travel partners.
• Many travel cards with annual fees come with more valuable benefits.
• Capital One’s transfer partners currently don’t include any major U.S. airlines.
• $0 annual fee and no foreign transaction fees
• Earn unlimited 1.25X miles on every purchase, every day
• Miles won't expire for the life of the account and there's no limit to how many you can earn
• Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
• Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
• Transfer your miles to your choice of 15+ travel loyalty programs
• Enjoy 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies

Capital One Quicksilver Cash Rewards Credit Card

• Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening

Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply Earn unlimited 1.5% cash back on every purchase, every day

• 5% Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
• 1.5% Earn unlimited 1.5% cash back on every purchase, every day

What we love: This cash-back card combines consumer-friendly terms with a decent rewards program. We particularly like it for first-time rewards credit cardholders. Learn more: Why I love the Capital One Quicksilver Cash Rewards card Alternatives: If you want to maximize cash back earnings in multiple categories or have a higher rewards rate, we suggest the Discover it® Cash Back credit card .  

• You won’t need a minimum amount of rewards to redeem cash back.
• The welcome offer is fairly attainable compared to other cash back cards.
• You could earn more rewards with other flat-rate or bonus category cash back cards.
• The ongoing variable APR is higher compared to competing cards.
• Earn unlimited 1.5% cash back on every purchase, every day
• Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
• Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
• No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
• 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies

Discover it® Cash Back

• Intro Offer: 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! 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 you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically.

• 5% Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate.
• 1% Plus, earn unlimited 1% cash back on all other purchases - automatically.

What we love: This classic card from Discover pairs forgiving terms (like no penalty APR for missed payments) with a generous rotating category cash back rewards program, making it a rare cash back credit card that skips foreign transaction fees. Its end-of-first-year Cashback Match also sweetens the deal. Learn more: Is the Discover it® Cash Back Credit Card worth it? Alternatives: Discover’s rotating rewards program requires quarterly activation and tracking categories, so the Capital One Quicksilver Cash Rewards Credit Card may be a better match if you’re looking for a more low-maintenance rewards strategy.

• The card is cost-effective since there’s no annual fee and Discover will waive your first late payment fee (up to $41 after that).
• Rotating bonus categories tend to include popular everyday categories.
• The card’s value decreases after the first year when the Cashback Match is no longer on the table.
• Maximizing rewards takes some legwork; you have to enroll and spend in bonus categories each quarter to earn the best cash back rates.
• Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.
• Redeem your rewards for cash at any time.
• Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
• Get a 0% intro APR for 15 months on purchases. Then 17.24% to 28.24% Standard Variable Purchase APR applies, based on credit worthiness.
• No annual fee.
• Terms and conditions apply.

Chase Sapphire Reserve®

Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,125 toward travel when you redeem through Chase Travel℠.

Earn 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠. Earn 5x total points on flights through Chase Travel℠. Earn 3x points on other travel and dining. Earn 1 point per $1 spent on all other purchases.

• 10x Earn 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠.
• 5x Earn 5x total points on flights through Chase Travel℠.
• 3x Earn 3x points on other travel and dining.
• 1x Earn 1 point per $1 spent on all other purchases.

What we love: This popular luxury travel credit card from Chase comes fully loaded, featuring generous base rewards, a sweet sign-up bonus, ancillary perks (including airport lounge access and certain travel protections) and a high-value travel credit that’ll go a long way toward offsetting the steep $550 annual fee. Learn more: Chase Sapphire Reserve benefits guide Alternatives: If you only travel occasionally, aren’t comfortable with a hefty annual fee or you’re not sure you’d get $550 of value out of this card each year, the Chase Sapphire Preferred is a better choice.  

• The annual travel credit is one of the easiest credits on the market to redeem.
• You’ll get a 50 percent boost when you redeem points for travel through Chase Travel℠.
• The card’s ongoing APR is high and the card has no intro APR offers to shield you from interest charges.
• The card’s lounge access pales a bit in comparison to comparable luxury credit cards.
• Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,125 toward travel when you redeem through Chase Travel℠.
• $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ 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 Travel℠. For example, 75,000 points are worth $1125 toward travel.
• 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 every four years for Global Entry, NEXUS, or TSA PreCheck®

Capital One Venture Rewards Credit Card

New Venture cardholders can earn 75,000 miles once they spend $4,000 on purchases within 3 months from account opening

2 Miles - 5 Miles

5 Miles per dollar on hotels and rental cars booked through Capital One Travel 2 Miles per dollar on every purchase, every day

• 2 Miles 2 Miles per dollar on every purchase, every day

What we love: A primary draw for this travel card is a generous 2X miles on all purchases, allowing you to earn toward travel without making a lot of travel purchases. Learn more: Why I love the Capital One Venture Rewards card Alternatives: If you exclusively fly one airline or stay at one hotel chain, you’re probably better off with a co-branded card — and you can also consider this card’s low-cost alternative, the Capital One VentureOne Rewards Card .

• It comes with many flexible redemption options, not limited to travel.
• You could potentially increase the value of your miles by transferring them to select Capital One travel partners.
• There’s a steep spending requirement to achieve this card’s current sign-up bonus.
• Miles are worth 1 cent or less unless you use select airline transfer programs, which can limit your overall earning potential.
• Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
• Earn unlimited 2X miles on every purchase, every day
• Receive up to a $100 credit for Global Entry or TSA PreCheck®
• Enrich every hotel stay from the Lifestyle Collection with a suite of cardholder benefits, like a $50 experience credit, room upgrades, and more

The Platinum Card® from American Express

Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in 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. Earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.

• 5X 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.
• 5X Earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.

What we love: This card’s lounge access privileges make it a perfect fit for frequent flyers who want to travel in maximum comfort. The card also comes with plenty of perks, including statement credits for expedited security screening, airline incidentals, hotels and Uber.  Learn more: The Platinum Card from American Express benefits guide Alternatives: While this card’s benefits are nice, they’re also expensive and you may only use a handful of its benefits. The Capital One Venture X Rewards Credit Card is a great alternative thanks to its lower annual fee and solid travel perks.  

• This card offers a long list of airline and hotel transfer partners, so you should have little trouble using your points for travel worldwide.
• Includes access to Priority Pass Select lounges, Centurion lounges, Delta Sky Clubs (if you’re traveling on Delta) and more.
• It’s not a great fit if you want to earn travel rewards on everyday spending, due to its low rewards rates on non-travel purchases.
• Several of the card’s perks are unrelated to travel and may only appeal to a small audience, making the annual fee harder to justify.
• Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
• 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 up to $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®. The Hotel Collection requires a minimum two-night stay.
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
• The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market. As of 03/2023.
• $155 Walmart+ Credit: Save on eligible delivery fees, shipping, and more with a Walmart+ membership. Use your Platinum Card® to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
• $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. Terms Apply.
• $189 CLEAR® Plus Credit: CLEAR® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
• Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 year period for TSA PreCheck® application fee for a 5-year plan only (through a TSA PreCheck® official enrollment provider), when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
• Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
• $695 annual fee.
• Terms Apply.

Capital One Venture X Rewards Credit Card

• Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel

2 Miles - 10 Miles

10 Miles per dollar on hotels and rental cars booked through Capital One Travel 5 Miles per dollar on flights booked through Capital One Travel 2 Miles per dollar on every purchase, every day

• 10 Miles 10 Miles per dollar on hotels and rental cars booked through Capital One Travel
• 5 Miles 5 Miles per dollar on flights booked through Capital One Travel

What we love: If you’re looking for some middle ground in the realm of luxury travel cards, this one has a lot to offer. With about half of the annual fees on other luxury travel cards, you still get some of the best travel protections, lounge access opportunities and annual credits. Bonus: the credits you earn will put a nice dent in the annual fee. Learn more: Capital One Venture X benefits guide Alternatives: If you want a card that rewards your personal travel habits, such as booking with your favorite airlines or hotels, cards with brand-specific perks could be a better alternative. Co-branded credit cards, such as the Hilton Honors American Express Surpass® Card , help you earn rewards with the hotels and airlines you prefer. 

• You’ll get $300 in annual credits for Capital One Travel bookings.
• Enjoy complimentary Priority Pass Select membership to over 1,300 lounges worldwide.
• While it has a lower annual fee than other premier travel cards, it could still be steep for some.
• You must book through the Capital One Travel portal to earn the highest rewards rates.
• Receive a $300 annual credit for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
• Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
• Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
• Earn unlimited 2X miles on all other purchases
• Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
• Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
• Elevate every hotel stay from the Premier or Lifestyle Collections with a suite of cardholder benefits, like an experience credit, room upgrades, and more

Discover it® Miles

• Unlimited Bonus: Unlimited Mile-for-Mile match for all new cardmembers—only from Discover. Discover gives you an unlimited match of all the Miles you’ve earned at the end of your first year. You could turn 35,000 Miles to 70,000 Miles. There’s no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match.

Offer valuation is not available for this credit card.

Automatically earn unlimited 1.5x Miles on every dollar of every purchase.

• 1.5X Automatically earn unlimited 1.5x Miles on every dollar of every purchase.

What we love: This budget-friendly travel credit card combines a decent return on purchases, a generous first-year welcome offer and consumer-friendly terms. Occasional travelers should consider applying. Learn more: Why I love the Discover it® Miles Credit Card Alternatives: If you’re looking for travel perks or the ability to transfer miles to airline or hotel loyalty programs, cards like the Southwest Rapid Rewards® Priority Credit Card or the Marriott Bonvoy Brilliant® American Express® Card may be better suited for your needs.

• Miles don’t lose value when you redeem for cash back.
• Discover forgives your first late payment (up to $41 late fee after that; missed payments can hurt your credit score).
• The card has no ancillary travel benefits or perks.
• The card’s value drops significantly after the first year’s miles match welcome bonus.
• Automatically earn unlimited 1.5x Miles on every dollar of every purchase
• No annual fee
• Turn Miles into cash. Or redeem as a statement credit for your travel purchases like airfare, hotels, rideshares, gas stations, restaurants and more.
• 0% intro APR for 15 months on purchases. Then 17.24% - 28.24% Standard Variable Purchase APR will apply.
• Discover is accepted nationwide by 99% of the places that take credit cards.

American Express® Gold Card

Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.

Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S. Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X). Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.

• 4X Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S.
• 4X Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
• 3X Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.

What we love: International travelers who always remember to pack their appetites will find the American Express Gold Card a rich source of travel rewards, without foreign transaction fees. The generous rewards and annual credits should go a long way toward offsetting the card's $250 annual fee. Learn more: Is the Amex Gold worth the annual fee? Alternatives: For travelers who want premium travel perks like airport lounge access, you’d be better off with the Chase Sapphire Reserve , as it comes with some of the highest rewards for travel and dining compared to other luxury travel cards.  

• This card offers best-in-class base rewards on food purchases.
• Features travel and shopping protections, including trip delay insurance, baggage insurance and extended warranty coverage.
• Earning the full value of some of this card’s credits requires careful attention to the terms and conditions.
• The steep annual fee will price this card out of many non-frequent flyers’ budgets.
• Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
• Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
• Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
• $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year.
• $120 Dining Credit: Satisfy your cravings and earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations. Enrollment required.
• Get a $100 experience credit with a minimum two-night stay when you book The Hotel Collection through American Express Travel. Experience credit varies by property.
• Choose the color that suits your style. Gold or Rose Gold.
• No Foreign Transaction Fees.
• Annual Fee is $250.

Discover it® Student Cash Back

• Intro Offer: 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! So you could turn $50 cash back into $100. Or turn $100 cash back into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.

What we love: A top choice for students, the Discover it® Student Cash Back credit card touts a generous rewards program and consumer-friendly terms, including no annual fee. Consider applying if you don’t mind managing rotating cash back bonus categories. Learn more: Is the Discover it® Student Cash Back credit card worth it? Alternatives: If you don't want to activate the card's rotating bonus categories each quarter, the Discover it® Student Chrome has a more simplified rewards program.

• It's a lucrative rewards credit card available to students.
• This card doesn’t charge an annual fee, perfect for first-time cardholders.
• Rotating cash back categories might be confusing or tedious to credit card newbies.
• While it has an intro offer on new purchases, it’s much shorter than what you’d find on plenty of other cards.
• No credit score required to apply.
• No annual fee and build your credit with responsible use.
• 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 18.24% - 27.24% applies.

American Express® Green Card

*The information about the American Express® Green Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

Earn 40,000 Membership Rewards® Points after you spend $3,000 in eligible purchases on your American Express® Green Card within the first 6 months of Card Membership.

Rewards Rate

Earn 3X Membership Rewards® points on travel including airfare, hotels, cruises, tours, car rentals, campgrounds, and vacation rentals. Earn 3X Membership Rewards® Points on transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways. Earn 3X Membership Rewards® points on eligible purchases at restaurants worldwide, including takeout and delivery in the US.

• 3X Earn 3X Membership Rewards® points on travel including airfare, hotels, cruises, tours, car rentals, campgrounds, and vacation rentals.
• 3X Earn 3X Membership Rewards® Points on transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways.
• 3X Earn 3X Membership Rewards® points on eligible purchases at restaurants worldwide, including takeout and delivery in the US.

What we love: This travel card comes with solid perks at a relatively low cost, allowing you to get a taste of luxury travel even if you only take a few flights per year. It also offers one of the most generous rewards rates out there on transit, making it a great pick for commuters. Learn more: Why the American Express Green card is great for flexible spending Alternatives: Though the Capital One Venture X Rewards Credit Card carries a higher annual fee, it offers more than enough value to make it worth the cost. It may be a better value than the Amex Green overall thanks to its wider-reaching lounge access privileges, annual travel credit and ongoing anniversary bonus. 

• City dwellers and people who frequently use public transit can get plenty of rewards with this card.
• You’ll get an annual statement credit for CLEAR membership.
• Unless you use the Pay Over Time feature, you'll be required to pay your balance in full each month.
• It has lackluster lounge access compared to other premier travel cards.

Compare Bankrate’s top no-foreign-transaction-fee credit cards

All information about the American Express® Green Card has been collected independently by Bankrate.com and has not been reviewed or approved by the issuer.

What is a no-foreign-transaction-fee credit card?

A no-foreign-transaction-fee credit card is exactly that — a credit card that doesn’t charge foreign transaction fees on purchases you make outside the U.S. No-foreign-transaction-fee cards are often associated with travel rewards cards . However, some issuers may also offer cash back, balance transfer, credit-building, student and business cards that don’t charge foreign transaction fees.

What you should know about foreign transaction fees

When you use a credit card overseas to buy something in the local currency, your credit card issuer has to convert the money you’ve spent into U.S. dollars. It may seem like any other transaction, but the credit card issuer covers various costs associated with international purchases, such as transferring money through a foreign bank. Many issuers offset these costs by charging a foreign transaction fee for purchases made abroad. However, Capital One and Discover don’t charge foreign transaction fees on any of their credit cards.

Depending on the issuer and card, a foreign transaction fee typically ranges from 1 percent to 3 percent, but it can go as high as 5 percent. Here's a quick look at how the fee structure breaks down among several major credit card issuers:

Unless you pay with a credit card that waives this fee, you’ll likely pay a foreign transaction fee for:

Hotel bookings

While it largely depends on the location of the hotel and the specific travel provider, your credit card issuer may charge a foreign transaction fee when you book a stay in another country.

Online purchases

If you purchase something from a seller based outside the U.S. and your transaction is processed abroad, your issuer could charge a foreign transaction fee — even if you’re shopping from the comfort of home.

Debit, charge or gift card purchases

Unfortunately, you can't avoid foreign transaction fees simply by using a different type of card. Credit cards, debit cards, charge cards and even prepaid gift cards commonly charge foreign transaction fees.

Foreign transaction fees typically appear on your credit card statement at the end of your billing cycle and you pay them when you pay your credit card balance.

Bankrate Insight

When traveling abroad or shopping with international vendors, be cautious of other travel-related credit card fees that can reduce your purchasing power, including cash advance fees, ATM fees and conversion fees.

Pros and cons of no-foreign-transaction-fee credit cards

If you travel overseas or make purchases in foreign currencies, it's worth understanding why a card with no foreign transaction fee might benefit you.

Save on purchases abroad. The average foreign transaction fee rate is a costly 3 percent, which can also erode — or completely offset — some cards’ rewards rates.

Better exchange rates. A credit card can help you save on converting currency at local ATMs, banks or airports. For example, Visa and Mastercard typically charge 1 percent to convert currency to U.S. dollars, saving you the added costs of a merchant’s dynamic currency conversion rate (DCC).

More secure than cash or debit cards. Lost or stolen cash cannot be recovered, and there’s a chance that you’ll be liable for unauthorized charges if your debit card is stolen. Credit cards can be replaced overnight and have more protections against fraud and identity theft.

Expense tracking. You won't have to keep track of different payment methods or currency exchange fees if you charge everything to your credit card without foreign transaction fees.

Most options are travel cards. No-foreign-transaction-fee cards are less likely to carry cash back bonus categories tailored to everyday spending than travel rewards and perks.

Some card networks aren’t widely accepted abroad. Cards from American Express or Discover might not be as widely accepted by merchants internationally as Mastercard and Visa cards.

More likely to charge an annual fee. Since cards with no foreign transaction fees tend to be travel cards, annual fees are more common, and can run high depending on the rates, categories and redemption options you’re interested in.

Expensive if you need cash. Although these cards save you money on foreign transactions and other travel-related fees, the cash advance fees and APR are likely far more expensive than debit cards’ ATM fees if you’re in a pinch and need foreign cash.

As you search for a card to use for your upcoming international trip, it’s important to fully understand foreign transaction fees, what to consider when choosing a no-foreign-transaction fee card and how you can best use this type of card.

How to choose a card with no foreign transaction fees

Pick a card that fits your needs.

For some people, a card with no foreign transaction fees can result in hundreds of dollars in savings. People who travel abroad frequently, students studying abroad and some online shoppers may benefit most from picking a card that doesn’t charge foreign transaction fees. If you’re hoping to earn rewards on these purchases, avoiding a foreign transaction fee is even more important since the common 3 percent rate could outweigh any rewards you’d earn from your purchases.

Look for a rewards card that offers cash back, points, or miles in categories that match your spending habits.

Look for perks that serve your travel interests

While choosing a travel credit card , compare the full range of benefits that each one offers. Along with rewards and no foreign transaction fees, top-tier travel credit cards usually carry benefits like annual travel credits , trip cancellation insurance, expedited airport security screening and airport lounge access . You may need to pay a higher annual fee to get all the perks you want, so pick the card that offers the best cost-to-benefit balance for you.

Compare rates and fees

Common credit card fees include annual fees, late fees, balance transfer fees, cash advance fees and returned payment fees. An annual fee is the most challenging to avoid, as you can dodge most other costs through responsible card use. 

Annual fees are most common among mid-tier and premium travel credit cards, even if these cards skip foreign transaction fees. Weigh whether you can offset an annual fee with reward earnings and added benefits, as you may find that some cards with annual fees are worth it when they offer rewards.

Consider the card network

Although you shouldn’t have much of a problem with credit card acceptance, Visa and Mastercard credit cards are accepted more widely internationally than cards on the American Express and Discover networks .

Still unsure if a no-foreign-transaction-fee credit card is right for you? Check out our Credit Card Spender Type Tool to get personalized credit card recommendations based on your credit score, spending habits and daily needs.

Tips for maximizing a no-foreign-transaction fee card

When using your credit card internationally, follow these tips to ensure you’re making the most of your no-foreign-transaction-fee card and not racking up unnecessary fees .

Have a mix of credit cards

Every credit card may not work in every country depending on the card network, so it may be handy to have at least two no-foreign-transaction-fee credit cards from different networks — especially if one is an American Express or Discover card. Carrying multiple credit cards could also help you earn rewards on a wider variety of purchases and make it easier to adapt your travel plans for different hotel or airline brands if needed.

Take advantage of your rewards and perks

Having no foreign transaction fees is a valuable card feature, but making the most of your cards’ rewards and perks can help you save even more on your travel. Rideshare partner perks, travel insurance , waived airline baggage fees  and travel statement credits are all popular benefits that are worthwhile as well.

Avoid cash advances

Withdrawing cash from an ATM using your credit card could cost you up to 5 percent of the amount withdrawn and incur high interest charges. Try to avoid needing a cash advance by keeping some cash or a debit card on hand for emergencies.

Have a chip-and-PIN credit card

Opt for a credit card that features both a chip and a PIN: a small metallic computer chip and a four-digit identification number to verify your card once it’s inserted. This card security method is more common internationally than the typical “chip and signature” method in the U.S., and it can save you from the hefty fees of a foreign ATM cash withdrawal.

What people say about no-foreign-transaction-fee cards

MyFICO users and Reddit users across r/CreditCards, r/personalfinance, r/Travel and other related subreddits often recommend an array of credit cards with no foreign transaction fees when discussing the best options for travelers heading overseas. Here’s what a few of them had to say about some of their favorite no-foreign-transaction-fee credit cards:

“I have the AMEX Gold and it has no foreign/international fees! It's a great credit card if you're looking to use it for points and travel... it's definitely the card I reach for the most.” — Reddit User

“[The] chase sapphire preferred is a solid option for no foreign transaction fees[,] especially if you have any [of] the chase freedom cards. [It] does have an annual fee but 3x points on dining is good when traveling outside the country.” — Reddit User

“Capital One SavorOne* has been an amazing card for me. 3% back in dining, groceries, entertainment, and streaming services! It covers so many categories despite not having an annual fee or foreign transaction fees!” — Reddit User

“Bank of America's Travel Rewards card is pretty good with no foreign transaction fee. I've used it frequently in Canada and the spot rate is way better than any exchange agent.” — myFICO User

Overall, Reddit users generally agree that many no-foreign-transaction-fee credit cards are the best option when traveling overseas. They provide the convenience and cost savings that travelers are looking for, along with the ability to earn rewards or points along the way.

*See Rates and Fees for Capital One SavorOne Cash Rewards

*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.

How this Bankrate expert chose their no-foreign-transaction fee card

Here’s how Bankrate writer and credit card reviewer Seychelle Thomas chose her card with no foreign transaction fees:

“Initially, I chose the Capital One Quicksilver* for its flat-rate rewards and how gracious it was towards my credit score at the time (which wasn't the best). No foreign transaction fees was more of a hidden benefit for me that became useful after building my credit and starting to travel. My Quicksilver card proved useful on a trip to Iceland in 2017 because it didn't charge foreign transaction fees and automatically converted prices from Icelandic Króna to USD for me. It also came in handy on a trip to the Dominican Republic a few years later. Having account notifications set gave me some peace of mind in making sure my card stayed safe — and that I stayed on budget. After realizing travel rewards became more valuable to me than cash back, I swapped over to the Capital One VentureOne*. It also meant I could keep enjoying benefits I had with my Quicksilver card, like no foreign transaction fees and elevated rewards on Capital One Travel hotel and rental car bookings. I've already earned about 11,000 miles and tested out the card on a trip to El Salvador last year. I plan to use the card again during an upcoming trip to Mexico so I can keep earning travel rewards without paying an annual fee or foreign transaction fees.” — Seychelle Thomas Writer, Credit Cards

*( See Rates & Fees for the Capital One Quicksilver); ( See Rates & Fees for the Capital One VentureOne)

When evaluating the best credit cards with no foreign transaction fee, we take into account several factors, including how cards score in our proprietary card rating system and whether they offer features that fit the priorities of a diverse group of cardholders, from earning rewards to scoring a large sign-up bonus to saving on interest.

We analyzed over 250 of the most popular credit cards and selected standouts that carry no foreign transaction fee. We scored each card based on the factors most relevant to its primary category, including its rewards rate, estimated annual earnings, intro APR period, ongoing APR, perks and more to determine whether it belonged in this month’s roundup.

Here are some of the key factors that we considered:

Solid rewards value

Since many cardholders looking for a card with no foreign transaction fee are eager to earn rewards, a key criteria for a card’s inclusion in our list is whether it offers impressive rewards value. This includes a card’s average rewards rate, estimated annual rewards earnings, sign-up bonus value and reward redemption value.

To estimate a card’s average annual rewards earnings, we calculate its average rewards rate based on how much it earns in different bonus categories, as well as how closely those categories match the average person’s spending habits. In other words: Does the card earn rewards at a high rate in the most popular spending categories?

We use consumer spending data from the Bureau of Labor Statistics (BLS) to get a reliable third-party measure of people’s spending habits. The most recent BLS data estimates average total spending in 2022 was $72,967 per consumer. We then narrow our focus to which purchases are likely to be put on a credit card and earn rewards, subtracting expenditures like housing, vehicle purchases and education. This gives us a total “chargeable” annual spend of around $22,500.  

Some of the major spending categories that contribute towards the annual spend include:

• Groceries: $5,700
• Dining out: $3,600
• Entertainment: $2,400
• Gas: $3,100
• Apparel and services: $1,900

Using this data, we assign a weighting to each of a card’s bonus categories. For example, a card’s grocery rewards rate receives a 22 percent weighting based on how much of the average person’s budget is spent on groceries. We also estimate the redemption value of points or miles from various issuer, airline and hotel rewards programs.

This weighting and rewards valuation allows us to estimate a card’s average annual rewards earnings — how many points or miles you’d earn with a given card if your spending was about average and you used the card for all of your purchases — as well as what those points are worth. We also use point valuations to determine a card’s sign-up bonus value

With these calculations complete, we assign each card a score based on how its average rewards earnings, sign-up bonus value, rewards rate and redemption value stack up against other cards in its primary category.

The better these values, the higher its score will be, making it more worthy of inclusion in our list and increasing its potential ranking.

Reasonable fees and APR

Naturally, all of the cards on this list do not charge foreign transaction fees.

We also rate all cards based on how their ongoing average APR compares to the average APR you’ll find other cards in their primary category. However, the impact of an especially high or low APR on a card’s overall score depends on its primary category.

For rewards-earning cards, this factor has only a minor influence on the card’s score and whether the card is included in our list, since rewards card users generally try to avoid carrying a balance. That said, rewards-earning cards may get a solid boost in score and be more worthy of inclusion in our list if they also offer an intro APR on balance transfers or new purchases, since such offers aren’t always present on these cards.

More important to these cards’ scores and their inclusion in our list is how their annual fees influence their overall value. We consider a card’s annual fee in two ways — how it ranks relative to the fees you’ll find on other cards in the category and how it impacts a card’s overall rewards value. 

Cards with an annual fee will always be at a slight disadvantage in our scoring system since annual fees inherently cut into your rewards value. However, if a card offers terrific value via its ongoing rewards and perks, it can earn a high score and a spot in our list even if it carries a high annual fee. After all, the highest rewards rates and most valuable perks are often found on cards with annual fees.

Interest rates and intro APR offers play a much larger role in a card’s score and whether it’s included in our list when the card is designed specifically for users looking to save on interest charges, such as dedicated balance transfer or low-interest cards.

Other fees considered include cash advance and late payment fees, along with penalty APRs.

Flexibility and perks

Along with rewards value and cost, we consider other factors that could give cards great long-term value, like flexible rewards redemption and especially unique and valuable perks.

We rate rewards-earning cards based on the restrictions they impose on earning and redeeming rewards and consider this when deciding on a card’s inclusion in our list.

These restrictions could include only allowing users to earn a high rewards rate on a small amount of spending or requiring users to meet a certain earning threshold before they can redeem rewards. We also examine whether points are worth less when you opt for some redemption options over others and whether a card gives you the flexibility to transfer rewards to airline and hotel partners.

We also evaluate each card’s perks based on their value, usefulness and uniqueness. Cards that offer top-tier benefits like airport lounge access or travel credits are likely to stand out, but we also aim to highlight cards that offer valuable under-the-radar perks, like cellphone protection or one-off credits for everyday expenses like dining and streaming services.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

Frequently asked questions about no foreign transaction fee credit cards

Which banks charge no foreign transaction fees.

• Capital One 360
• Charles Schwab Bank

Which travel rewards card is best for international transactions?

The best overall card for international transactions will vary depending on your specific travel needs, but Bankrate has rated cards like the Chase Sapphire Reserve card, Platinum card from American Express and the Capital One VentureOne Rewards card as some of the best travel rewards cards with no foreign transaction fee.

How do you determine if your existing credit card charges a foreign transaction fee?

How do i calculate a foreign transaction fee.

If you’re curious to know how much you’ll pay for a foreign transaction fee, multiply the purchase price by the fee percentage. Then add the result to the purchase price. For example, let’s say your nephew’s favorite soccer team is Manchester United F.C., so you buy him a jersey from an online retailer based in England using a credit card that charges a 3 percent foreign transaction fee. If this purchase costs $100, the fee would be $3, bringing your total cost to $103 ($100 x 3 percent = $3, $100 + $3 = $103).

How do I calculate currency conversion?

To understand what you're being charged overseas versus what you'd be paying in your home currency, just divide the base amount (base currency) by the final amount (foreign currency) to determine the exchange rate. 

You may be able to see exactly what the currency conversion and its cost would be if your card network has an online currency converter, such as Visa’s exchange calculator and Mastercard’s currency converter calculator . Or you can use Bankrate’s Currency Converter calculator .

Can you avoid foreign transaction fees without using a credit card?

If you're looking for an alternative to credit cards with no foreign transaction fees, here are some great options:

Prepaid debit card: Use them to make purchases wherever you go even online or over the phone — no matter where in the world you are.

Local currency: Before you travel, stop by your local bank and exchange your dollars for your destination’s local currency. Your bank will likely charge lower exchange fees than you’ll find at the airport (or none at all).

Traveler's check: When obtained through an eligible bank, you can use a traveler’s check almost anywhere in the world. The paper document is cashed in exchange for local currency once you’re abroad. They are also safer than carrying cash, since you can replace them if they are stolen or lost. However, some banks no longer offer traveler's checks, so you may have to jump through more hoops to get them. 

Ask the experts: Is it worth it to get a credit card with no foreign transaction fee for a one-time overseas trip?

Erica Sandberg

Thomas Nitzsche

Stephanie Zito

Contributor, Credit Cards

Absolutely! Foreign transaction fees can be expensive. Unless you have a credit card that does not charge them, be prepared to be charged an extra 3 percent on your transactions. For example, if you take a trip to France and spend $5,000 on your card, an additional $150 may be added to that amount. Your money could have gone to a lovely meal at a special café instead. The good news is that there are many credit cards available that do not charge foreign transaction fees. If you know that you will be traveling internationally, apply for one before you go.

Financial Educator, Debt and Credit

Depending on how much you plan to spend on your trip, and assuming you don’t already have a card with no foreign transaction fees, it may be worth it to shop for a card that will help you avoid the 3 percent typical fee. Be aware that most recommended cards will require good to excellent credit in order to be approved. You may want to consider zero-fee cards which also have other perks or rewards you will use in the future.

Contributor, Personal Finance

There are so many card options out there these days that there is absolutely no reason to use any of your vacation money to pay foreign transaction fees on your credit card. Even if you only take a big international trip just once a year, you’ll always be better off using a card with no foreign transaction fees. If you don’t already have one in your wallet, I’d recommend a Visa over American Express or MasterCard for ease of international acceptance. You can even find one like the Capital One Quicksilver Cash Rewards Credit Card or Capital One Savor Cash Rewards Credit Card that has no foreign transaction fees and no annual fee.

Article sources

We use primary sources to support our work. Bankrate’s authors, reporters and editors are subject-matter experts who thoroughly fact-check editorial content to ensure the information you’re reading is accurate, timely and relevant.

“ What is Dynamic Currency Conversion? ” Visa. Accessed on April 29, 2024.

Lowry, C. “ Everything you need to know about traveler's checks. ” Western Union. Accessed on April 29, 2024.

“ Consumer Expenditures 2022 ." U.S. Bureau of Labor Statistics. Accessed on April 29, 2024.

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author’s alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.

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Find the best credit card for you

If you want a travel rewards card without an annual fee, check out these top options, we analyzed 12 popular no annual fee travel cards and dug into each card's perks and drawbacks to find the best ones for your travel habits..

You don't have to pay an annual fee to get a solid travel rewards credit card . You might not get all the fancy perks that come with some of the more luxe travel cards, but there are some great options that will help you earn rewards to pay for your next adventure.

To make sure you're choosing the best no-annual-fee travel card for your needs, we analyzed 12 popular options using an average American's annual budget and dug into each card's perks and drawbacks to find the best of the best based on your travel habits. (See our methodology for more information on how we choose the best cards.)

Two key perks are essential when choosing a travel card: no foreign transaction fees and the ease with which you can cash in rewards for travel. And the card is even better when you can earn bonus rewards for travel-related purchases. The cards in this round-up check every box, and based on our calculations, you could earn upwards of $1,500 in cash back over five years. Plus, some of the cards may offer travel insurance , which provides added value.

Best no annual fee travel credit cards

• Best for hotels: Capital One VentureOne Rewards Credit Card (see rates and fees )
• Best for welcome bonus: Discover it® Miles
• Best for Bank of America customers: Bank of America® Travel Rewards credit card
• Best for students: Bank of America® Travel Rewards for Students
• Best secured card: U.S. Bank Altitude® Go Visa® Secured Card

Best for hotels

Capital one ventureone rewards credit card.

5 Miles per dollar on hotel and rental cars booked through Capital One Travel, 1.25X miles per dollar on every purchase

Welcome bonus

Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel

0% intro APR on purchases and balance transfers for 15 months

Regular APR

19.99% - 29.99% variable

Balance transfer fee

3% for the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time

Foreign transaction fee

Credit needed.

Excellent/Good

See rates and fees , terms apply.

Read our Capital One VentureOne Rewards Credit Card review.

• 5 miles per dollar on hotel and rental cars booked through Capital One Travel
• Miles never expire for the life of the account
• No Global Entry or TSA PreCheck statement credit offerings
• No airport lounge access

Who's this for? Anyone looking to book hotel rooms should consider the Capital One VentureOne Rewards Credit Card and its impressive offer 5X miles on hotel and rental cars booked through Capital One Travel . This no-annual-fee card also gives cardmembers an unlimited 1.25X miles on all other purchases, making it a solid choice for everyday use (see rates and fees ).

Another perk is the intro 0% APR period, which lasts for 15 months on new purchases and balance transfers. After that, the APR is 19.99% - 29.99% variable. There is a 3% fee on the amounts transferred within the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time. (See rates and fees ). The Capital One VentureOne Rewards Credit Card offers new users a strong welcome bonus: 20,000 bonus miles after they spend $500 on purchases within three months from account opening.

Additionally, with this card, it's possible to transfer your miles to any of Capital One's partner airline loyalty programs, including Emirates Skywards, Etihad Guest and Aeroplan®. (Read how to make the most of your airline miles .)

Cardholders can also redeem their miles for cash in the form of a check or account credit, gift cards and more, though rates for these other redemption options vary.

Best for welcome bonus

Discover it® miles.

Automatically earn unlimited 1.5x Miles on every dollar of every purchase.

Unlimited Bonus: Unlimited Mile-for-Mile match for all new cardmembers—only from Discover. Discover gives you an unlimited match of all the Miles you've earned at the end of your first year. You could turn 35,000 Miles to 70,000 Miles. There's no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match.

0% Intro APR for 15 months on purchases

17.24% to 28.24% Variable

3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*

Good / Excellent

*See rates and fees , terms apply.

Read our Discover it® Miles review.

• Miles program
• Generous welcome bonus
• No blackout dates
• No limit to the amount of miles you can earn and miles never expire
• Travel spending does not receive additional rewards

Who's this for? The Discover it® Miles card comes with a generous rewards program that makes it a standout among travel cards.

Unlike some other cards on this list, you won't earn more for travel or dining related purchases. The Discover it Miles card offers users unlimited 1.5X miles for every dollar spent on all purchases. But for higher spenders, Discover offers a welcome bonus that's hard to beat: It will do a mile-for-mile match of all miles earned the first year (for new card members in their first year only). If you rack up 35,000 miles within the first 12 months, Discover will match you with 35,000 miles. That's a total of 70,000 miles or $700 toward travel. (Based on our calculations, the average card user will earn around 32,777 miles in the first year.)

With this card, there are no blackout dates when you pay for travel purchases using your card. And, you can easily redeem miles as a statement credit for travel, restaurant or gas station purchases, as well as a deposit to your bank account. The best part is, miles earned never expire even if your account is closed.

Best for Bank of America customers

Bank of america® travel rewards credit card.

Unlimited 1.5 points for every $1 spent on all eligible purchases

25,000 online bonus points after you spend at least $1,000 in purchases in the first 90 days of account opening, which can be redeemed for a $250 statement credit toward qualifying travel purchases

Introductory 0% APR for your first 15 billing cycles on purchases and balance transfers made within 60 days of account opening.

18.24% - 28.24% variable

3% for 60 days from account opening, then 4%

Good/Excellent

Terms apply.

• No annual fee
• No limit or expiration on points
• Strong welcome bonus of 25,000 points if you spend $1,000 in the first 90 days
• Intro 0% APR offer
• No foreign transaction fee charged on purchases made outside the U.S.
• High penalty APR
• No bonus spending categories

Who's this for? The Bank of America Travel Rewards credit card offers an unlimited 1.5 points for every dollar spent on all purchases. However, you can boost the cash back you earn by 25% to 75% if you qualify for the Bank of America Preferred Rewards program, which translates to a generous 1.87 to 2.62 points for every dollar spent. 

Potential cardholders can earn 25,000 bonus points after spending at least $1,000 in purchases in the first 90 days of account opening. This can be redeemed for a $250 statement credit toward qualifying travel purchases.

With this card, there is no limit on the points you can earn and points do not expire. Cardholders can redeem their rewards at any time and any amount, plus count on zero foreign transaction fees on  their next overseas vacation .

Best for students

Bank of america® travel rewards for students credit card.

Unlimited 1.5 points for every $1 spent on all purchases

25,000 online bonus points after you spend at least $1,000 in purchases in the first 90 days of account opening, which can be redeemed for a $250 statement credit toward qualifying travel and dining purchases

0% APR for the first 15 billing cycles on purchases, and for any balance transfers made within the first 60 days of opening your account

3% of each transaction intro balance transfer fee for the first 60 days from account opening, then 4%

• Intro 0% APR for 15 billing cycles on purchases and balance transfers
• No fee charged on purchases made outside the U.S.
• No student-centric benefits or incentives to practice responsible credit behavior
• Estimated rewards earned after 1 year: $466
• Estimated rewards earned after 5 years:   $1,528

Rewards totals incorporate the points earned from the welcome bonus

Who's this for? The Bank of America Travel Rewards for Students is a great choice for students who plan on studying abroad or traveling during breaks. The rewards program is geared toward travel, and cardholders earn 1.5 points per dollar spent on all purchases.

You can redeem rewards as a statement credit to cover the cost of qualifying travel purchases — a simple way to reduce the cost of taking a spring break vacation or buying a plane ticket home. There are no foreign transaction fees, making it an ideal card for students studying abroad.

Cardholders can redeem their rewards at any time and at any amount, including when shopping on Amazon.

This card also comes with a longer-than-average special financing offer of no interest for 15 billing cycles (then 15.49% - 25.49% variable APR). A full year of no interest is a great way for you to pay off new purchases over time, without incurring interest charges. We recommend you pay off your balance on time and in full each month.

You must be 18 or older and enrolled in school (college, vocational or trade school) to qualify for this card.

Best secured card

U.s. bank altitude® go visa® secured card.

4X points per dollar spent on dining, 2X on streaming services, at grocery stores (discount stores/supercenters and wholesale clubs excluded effective September 9, 2024) and at gas stations/EV charging stations (discount stores/supercenters, grocery stores and wholesale clubs excluded effective September 9, 2024) and 1X points per dollar spent on all other eligible purchases; cardmembers are also eligible for a $15 credit for annual streaming service purchases

29.99% variable

Either 3% of the amount of each transfer or $5 minimum, whichever is greater.

Foreign transaction fees

• You can earn travel rewards for everyday spending, a rare feature for a secured credit card
• $15 credit for annual streaming service purchases
• Requires a $300 to $5,000 deposit to open the card
• No welcome offer

Who's this for? The U.S. Bank Altitude® Go Visa® Secured Card is one of the few travel-focused secured credit cards on the market. So if you want to earn travel rewards on your purchases while building your credit, this card may be a great fit for you.

As you spend on the card, you can earn:

• 4X points per dollar spent on dining
• 2X points per dollar spent at grocery stores, gas stations and streaming services
• 1X points per dollar spent on all other eligible purchases

When these points are redeemed, they are worth 1 cent per point, giving you an effective 4% back in value on dining — an excellent value that even trumps some non-secured credit cards.

In addition, cardmembers are eligible for a $15 credit for annual streaming service purchases.

New cardholders must put down a deposit of between $300 and $5,000 which acts as your credit line. If you spend within your credit limit and pay your bill when it's due, over time, U.S. Bank could upgrade you to the U.S. Bank Altitude® Go Visa Signature® Card , but unlike some other cards on this list, there's no clear timeline. Once you're upgraded, your security deposit will be returned.

The card doesn't have foreign transaction fees, and you can choose the due date for your bill.

Find the best credit card for you by reviewing offers in our  credit card marketplace  or get personalized offers via  CardMatch™ .

Why trust CNBC Select?

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See  our methodology  for more information on how we choose the best travel credit cards.

Our methodology

To determine which cards will put the most money back in your pocket, CNBC Select evaluated 12 popular travel credit cards with no annual fee offered by major banks, financial companies and credit unions that allow anyone to join. We compared each card on a range of features, including travel rewards (points and miles), annual fee, welcome bonus, introductory and standard APR, one-time perks, annual perks, redemption rates, as well as factors such as required credit and customer reviews when available.

Select teamed up with location intelligence firm Esri . The company's data development team provided the most up-to-date and comprehensive consumer spending data based on the 2019 Consumer Expenditure Surveys from the Bureau of Labor Statistics. You can read more about their methodology here .

Esri's data team created a sample annual budget of approximately $22,126 in retail spending. The budget includes six main categories: groceries ($5,174), gas ($2,218), dining out ($3,675), travel ($2,244), utilities ($4,862) and general purchases ($3,953). General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, and other vehicle expenses.

We then estimated how much the average consumer would redeem over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases. All rewards total estimations are net the annual fee.

It's important to note the value of a point or mile varies from card to card and based on how you redeem them. When we calculated the estimated returns, we assumed that cardholders are redeeming points/miles for a typical maximum value of 1 cent per point or mile. (Extreme optimizers might be able to achieve more value.)

Our final picks are weighted heavily toward the highest five-year returns, since it's generally wise to hold onto a credit card for years. This method also avoids giving an unfair advantage to cards with large welcome bonuses.

Note: We didn't calculate the estimated rewards rate for college student credit cards because the focus should be on building good financial habits not optimizing points.

While the five-year estimates we've included are derived from a budget similar to the average American's spending, you may earn a higher or lower return depending on your travel habits.

Catch up on CNBC Select's in-depth coverage of  credit cards ,  banking  and  money , and follow us on  TikTok ,  Facebook ,  Instagram  and  Twitter  to stay up to date.

Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox.  Sign up here .

For rates and fees of the Discover it® Miles, click here .

Information about the Bank of America Travel Rewards credit card, Bank of America Travel Rewards for Students has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

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Best credit cards for international travel in 2024

Foreign transaction fees can make everything you buy overseas cost more. By selecting a rewards credit card that doesn't charge these fees, you save money each time you make a purchase abroad. These credit cards offer valuable rewards without the foreign transaction fees some other cards charge.

The best cards for international travel offer travel rewards or cash back, as well as a range of other perks.

Our top recommendations

Card_name : best overall, card_name : best for luxury travel, card_name : best for flexible rewards, card_name : best for value, card_name : best for flat-rate rewards, card_name : best with no annual fee, card_name : best for earning cash back, card_name : best for everyday spending, card_name : best for hotels, citi® / aadvantage® platinum select® world elite mastercard® : best for airfare, card_name : best for poor credit, chase sapphire reserve®, why we like it.

The Chase Sapphire Reserve® is a premium travel rewards credit card with souped-up travel perks that the frequent traveler will love. You’ll get up to $300 in annual statement credits to offset virtually any travel purchase; you’ll get the highest level of travel insurance; you’ll get access to more than 1,400 airport lounges worldwide.

This card’s points can save you a bundle on travel in two key ways: You can redeem them for airfare, hotel stays, rental cars and more through Chase Travel at a rate of 1.5 cents. Or, you can convert them into several different airline miles and hotel points currencies to potentially get a value of 2 cents (or more) in travel from your rewards.

• Points transfer to Chase airline and hotel partners.
• Get 50% more value for travel booked through Chase.
• Comes with $300 travel credit each year.
• Includes airport lounge access.
• No foreign transaction fees.
• Comes with generous travel insurance benefits.
• annual_fees annual fee.
• High APR if you carry a balance.
• Very good or excellent credit required.

Why we like it: The card_name made our list of top credit cards for international travel due to its lack of foreign transaction fees and the fact it earns Chase Ultimate Rewards points. These flexible rewards points can be redeemed for cash back, gift cards, merchandise or travel through Chase with 50% more value. They can also be transferred 1:1 to airline and hotel partners like British Airways, Marriott Bonvoy, United MileagePlus and World of Hyatt.

Other benefits for international travel include a fee credit for Global Entry, NEXUS or TSA PreCheck each year, broad airport lounge access and the $300 annual travel credit.

The Platinum Card® from American Express

( Rates & Fees )

• Points transfer to Amex airline and hotel partners.
• Comes with more than $1,500 in statement credits each year.
• Comes with broadest airport lounge membership available today.
• Comes with travel protections included.
• High APR can apply.
• Very good to excellent credit required.
• Statement credits can be difficult to use.

Why we like it: card_name is excellent for international travel for a few reasons, including the fact it earns flexible Amex Membership Rewards points. These rewards transfer to a range of airline and hotel partners, but they can also be used to book travel through AmexTravel.com or redeemed for other flexible options.

This card's lack of foreign transaction fees is another major advantage, along with the fact it has the best airport lounge membership for international travel. Not only does this card let you enter Priority Pass lounges, but you also have access to Amex Centurion airport lounges and Delta Sky Clubs when you fly Delta. The $1,500 in statement credits this card offers offer even more incentive to sign up.

Chase Sapphire Preferred® Card

Often touted as the perfect beginner travel credit card, the Chase Sapphire Preferred® Card comes with all the necessities that a traveler needs. It’s got a large welcome bonus, it earns points quickly and it confers excellent travel insurance to protect you against flight delays and rental car dings.

The biggest selling point of the card is its flexible rewards. You can travel for pennies on the dollar by transferring the points you earn to airline and hotel loyalty programs such as Hyatt, United Airlines, British Airways and many more. You can also redeem your points for flights, rental cars and cruises through Chase Travel at a rate of 1.25 cents each.

• Points transfer 1:1 to Chase airline and hotel partners.
• Other flexible rewards options.
• Excellent rewards rate for everyday purchases.
• Comes with travel protections.
• Comes with a $50 annual hotel stay credit.
• Requires very good to excellent credit.
• No luxury travel benefits.

Why we like it: The card_name is an excellent entry-level card for people who want to earn travel rewards and avoid foreign transaction fees when they take trips abroad. This card has an annual fee of just annual_fees per year, but it earns flexible rewards points that can be transferred to partners or used to get 25% more value for each point when redeeming for travel through Chase.

Other included benefits from Instacart and DoorDash, along with the $50 annual hotel stay credit, also add to this card's value. The card_name also comes with a range of travel protections included.

Capital One Venture X Rewards Credit Card

• Flexible miles transfer to Capital One airline and hotel partners.
• $300 annual travel credit applies.
• Comes with airport lounge membership.
• Excellent rewards rate for eligible travel purchases.
• Lower annual fee than other premium cards with airport lounge access.
• Excellent credit required.

Why we like it: The card_name is a great value card for international travel at annual_fees per year since it comes with a $300 annual travel credit and Priority Pass Select membership (retail value of $469). This card also earns flexible travel points that can be used to book airfare, hotels and car rentals through Capital One or transferred to Capital One airline and hotel partners.

Other benefits like free authorized user cards, cell phone protection and Hertz President's Circle status sweeten the pot. Also note that this card comes with a range of Visa Infinite benefits.

Capital One Venture Rewards Credit Card

• Earns flexible travel points that transfer to Capital One partners.
• Other flexible redemption options.
• Excellent flat rewards rate.
• Comes with fee credit for Global Entry or TSA PreCheck membership.
• Reasonable annual_fees annual fee.

Why we like it: The card_name requires an annual fee of just annual_fees per year, yet it earns generous rewards for purchases and comes with a sizable welcome offer worth $750. Cardholders will also love the flexibility of this card's rewards program considering miles can be transferred to airline and hotel partners, used to book travel through Capital One or redeemed for gift cards, merchandise or cash back.

VentureOne Rewards from Capital One

• Earns flexible miles that transfer to airlines and hotels.
• Other flexible redemptions for rewards.
• No annual fee.
• Comes with intro APR offer.
• Low rewards rate for regular purchases.

Why we like it: The card_name lets users earn flexible rewards for travel with no annual fee required. The miles you earn with this card can be used for travel through Capital One, transfers to airline and hotel partners, statement credits, gift cards and more. This card doesn't charge foreign transaction fees, and it even has intro_apr_rate,intro_apr_duration and balance_transfer_intro_apr,balance_transfer_intro_duration .

Capital One® SavorOne® Cash Rewards Credit Card

• Generous rewards rate in everyday spending categories.
• intro_apr_rate,intro_apr_duration and balance_transfer_intro_apr,balance_transfer_intro_duration .
• Few travel-specific benefits for international trips.

Why we like it: The card_name doesn't charge foreign transaction fees or an annual fee, but it does earn generous cash back rewards in a range of categories most people regularly spend in. Cardholders also get intro_apr_rate,intro_apr_duration and balance_transfer_intro_apr,balance_transfer_intro_duration , plus Uber One membership benefits and a handful of travel protections.

Citi Premier® Card

• Flexible points transfer to Citi airline and hotel partners.
• Other flexible redemptions through the Citi ThankYou program.
• Generous rewards in everyday spending categories.
• $100 annual hotel savings benefit.
• Few travel-related benefits.

Why we like it: The card_name is a great card for everyday spending due to its generous bonus rewards categories that most people spend in. This card also earns rewards that fall within the Citi ThankYou program, which can be transferred to Citi airline and hotel partners, used to book travel through the Citi portal or redeemed for cash back, gift cards and more. This card's $100 annual hotel benefit also makes up for the annual_fees annual fee each year you use it.

IHG(R) Rewards Club Premier Credit Card

With the card_name , you can earn 140,000 bonus points after spending $3,000 in the first three months, which is enough for up to four free nights at an IHG hotel. For ongoing rewards, you can earn up to 26x points when staying at IHG and 5x points for travel, dining, and gas station purchases, and 3x everywhere else. You’ll get a free night award worth up to 40,000 points every year after your account anniversary.

Cardholders also get a fourth night free when redeeming three award nights as well as a $100 statement credit and 10,000 bonus points when spending $20,000 or more on the card in a calendar year. Considering the automatic Platinum Elite status and other card benefits, including trip cancellation and interruption insurance, the card is a great value for loyal IHG customers.

• Redeem points for stays at 6,000+ IHG properties.
• Welcome bonus is worth up to four free nights at 4,800+ hotels worldwide.
• Generous rewards for paid hotel stays.
• Free anniversary night (up to 40,000 points).
• Comes with Platinum Elite status.
• Limited flexibility for rewards.

Why we like it: The card_name can be a great option for international hotel stays if you want to spend time in one of the program's 6,000+ properties worldwide without paying foreign transaction fees. This card even comes with automatic Platinum Elite status and a free anniversary night each year.

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

• Redeem miles for flights to 900+ destinations through American Airlines and its oneworld partners.
• Free checked bags.
• Preferred boarding.
• Earns Loyalty Points toward elite status.
• No annual fee the first year.

Why we like it: The Citi® / AAdvantage® Platinum Select® World Elite Mastercard® is a great card for airfare since miles can be redeemed with American Airlines and partners like British Airways and Cathay Pacific. Members get frequent flyer perks like free checked bags and priority boarding, and this card earns Loyalty Points that count toward elite status requirements with the American AAdvantage program.

Capital One Quicksilver Secured Cash Rewards Credit Card

• Available to applicants with poor credit or no credit.
• Earns 1.5% cash back.
• Refundable security deposit required.

Why we like it: The card_name is a secured credit card that requires a refundable cash deposit of at least $200 to get started. However, this card is available to people with poor credit or no credit, and it doesn't charge an annual fee or foreign transaction fees.

Individuals can use this card to build their credit over time, and they can get their deposit back when they cancel or upgrade their card in good standing with a $0 balance. Capital One also promises automatic credit line reviews with this card after six months, which could pave the way to a higher credit limit.

Best credit cards for international travel 2024: Comparison

How we chose the best credit cards for international travel.

To find the best credit cards for international travel, we only considered card products that don't charge foreign transaction fees . From there, we looked at rewards rates and other card features that could make international travel more comfortable or affordable. We also looked at credit cards based on their fees, interest rates and credit ratings required.

Ultimately, we looked for credit cards that offer the most lucrative rewards structures and welcome offers, as well as flexibility within their designated rewards programs. Travel perks like travel insurance benefits, annual travel credits, expedited airport security and airport lounge access were also taken into account.

Choosing the best credit card for international travel: Where to begin

Finding the best credit card for international travel is no easy task when there are so many types of cards to choose from. Consider these factors as you search for the right card for your next trip.

Annual fees

Compare cards based on their annual fees, but keep in mind that cards with higher fees tend to offer more benefits in return. If you're willing to pay $395 per year or more, for example, you can get a credit card for international travel that comes with a fee credit for Global Entry or TSA PreCheck membership plus broad airport lounge membership.

Travel perks and features

Many travel credit cards come with perks that can be useful, but you'll want to figure out which ones you can actually use. Benefits to look for include annual travel credits, automatic elite status benefits, airport lounge membership, fee credits for expedited airport security, free checked bags and free hotel nights.

Travel insurance benefits

Some credit cards also offer robust travel protections that can apply when you use your card to pay for travel with a common carrier. These benefits can include trip cancellation and interruption insurance, trip delay insurance, baggage delay coverage, lost luggage reimbursement, primary auto rental coverage and more.

Customer satisfaction rankings

Note how different credit card issuers have scored in third-party rankings for customer service and satisfaction. You can see below how major credit card issuers scored in J.D. Power's 2023 U.S. Credit Card Satisfaction Study , which was built using responses from 31,418 credit card customers between August 2022 through June 2023.

Eligibility by credit score

Also consider which credit cards you can qualify for based on your credit rating. While the best credit cards for international travel require very good to excellent credit, there are also options for good credit, fair credit and even poor credit or no credit.

Rewards for spending

Look at the rewards you can earn for spending, and make sure to consider the bonus rewards categories each card offers. Ideally, you'll pick a credit card that offers the most rewards in categories you frequently spend in.

Rewards programs

Also consider the type of rewards you're earning, whether you prefer to earn flexible rewards for travel, airline miles, hotel points or cash back. Make sure you have an understanding of how much the rewards you earn are worth on average, as well as how you can redeem them.

International acceptance

Finally, make sure to consider international acceptance when you're planning a trip abroad. Visa and Mastercard credit cards feature the highest rates for international acceptance, whereas American Express and Discover feature lower acceptance rates in some destinations.

Case in point: The Discover website clearly shows that its cards are not regularly accepted across Asia, the Middle East, Russia and some countries in South America.

How to maximize card benefits for international travel

Once you pick a credit card for international travel, there are steps you can take to maximize your card's benefits and features. Consider the following tips:

• Use your card for all your spending abroad. Use your credit card for all your international purchases to avoid foreign transaction fees and boost your rewards haul over time.
• Sign up for TSA PreCheck or Global Entry, NEXUS or TSA PreCheck if your card offers a credit. Make sure to sign up for these programs if your card covers the membership fee, and use your card to pay so you can get reimbursed after the fact.
• Take advantage of airport lounge access if your card offers it. Keep tabs on airport lounges you will have access to during international trips, and make sure to use them when you can.
• Pay your credit card bill in full each month. Finally, remember that not paying foreign transaction fees won't save you money if you carry a balance on your card after each trip. Pay your credit card balance in full each month and you can avoid paying the exorbitant interest rates most credit cards charge.

Avoiding dynamic currency conversion

Dynamic currency conversion is a system that shows what your international purchases will cost in U.S. dollars for you, ahead of time. However, this conversion typically comes with a less-than-stellar exchange rate that leaves you paying more for everything you buy overseas.

If you want to avoid dynamic currency conversion when you use a credit card, you will need to make sure all merchants, restaurants and others who charge your card for international spending do so using the local currency.

Things to keep in mind when using a credit card overseas

Before you head overseas on your first international trip, you'll want to keep several important facts in mind. Consider these tips for a better travel experience overall:

• Tell your card issuer that you'll be traveling. Calling the number on the back of your credit card and notifying your card issuer before you travel overseas can help you avoid having transactions denied.
• Carry more than one type of credit card with you. If you're worried your card type won't be accepted, carry more than one with you when you travel overseas. For example, carry both a Visa and a Mastercard, or a Mastercard and an American Express card.
• Pay in the local currency. Make sure to pay using the local currency when you use your card, even if you have to be specific about it when charges are made. This can help you avoid dynamic currency conversion, which makes international purchases more expensive.
• Know which travel protections your credit card offers. Also be aware of which travel protections your card offers and when they apply. For example, look for trip cancellation and interruption coverage, travel delay insurance, lost luggage reimbursement and other perks that can apply to international trips.

Frequently asked questions (FAQs)

What credit cards are most accepted internationally.

Visa and Mastercard feature the highest international acceptance rates, whereas international acceptance for American Express and Discover lag behind.

Do credit cards automatically convert currency?

Credit cards can use dynamic currency conversion in order to convert the cost of your purchases to U.S. dollars. However, the exchange rates you get with this method will make your purchases more expensive, so you should always pay in the local currency instead.

Do I need to notify my credit card issuer if I'm traveling out of the country?

Notifying your credit card issuer before you travel overseas can help you avoid having transactions denied due to suspicion of fraud. This is especially true if you're an infrequent traveler who rarely (or never) makes purchases overseas.

What is a foreign transaction fee?

Foreign transaction fees are additional fees that are added to international charges when you pay with a credit card. You can avoid these fees by picking a credit card that doesn't charge these fees and using it for purchases abroad.

For rates and fees of the card_name , please visit URL .

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Best travel cards with no foreign transaction fees? Check out this list for 2024

Whenever you’re spending in a foreign currency – whether that’s when you travel overseas or when you shop with an online retailer based abroad – it’s useful to know your options to spend and make cash withdrawals internationally without hefty foreign transaction fees.

Australian customers can generally pick from international debit or prepaid cards, or travel credit cards which have features designed for ease of use overseas. Different options suit different preferences and needs – to help you pick, this guide walks through no foreign transaction fee cards from well known Australian banks, and some top low cost alternatives like the Wise card and the Revolut card .

Key points: best travel cards with no foreign transaction fees

• Wise : Spend in 170+ countries with mid-market rate currency conversion and no ongoing fees
• Revolut : Pick the account that suits your spending, and get free currency conversion to plan limits
• Latitude: No annual fee and no foreign transaction fee to pay – charges apply if you use an ATM, but the card also offers benefits if your flights are delayed
• Westpac: Low interest rate card with no foreign transaction fee – ATM withdrawals not available
• HSBC: 99 AUD annual fee, with no foreign transaction fees and some travel perks

What is a foreign transaction fee?

A foreign transaction fee is an extra percentage charge that’s added to your overall bill whenever you spend with your credit or debit in a foreign currency. These charges are added when you spend with a merchant overseas, when you’re on a foreign holiday and make an ATM withdrawal, or when you spend with a card online, and pay in a currency other than dollars.

Not all credit and debit cards use foreign transaction fees – but they’re pretty common, and they can push up the costs of spending overseas without you even realising it.

How do foreign transaction fees work?

Foreign transaction fees are percentage fees added to the amount you pay when you spend in a foreign currency. If you’re spending with a debit card, the amount you spend when you’re abroad will be converted back to dollars, and then this, plus the foreign transaction fee, will be deducted from your account. If you’re using a credit card, the foreign transaction fee is added when switching your overseas spending back to dollars, and then the total is shown on your monthly card bill.

Depending on your card provider, the foreign transaction fee may be shown as a separate line on your statement or card bill, or it may simply be rolled into the sterling amount shown for the purchase or withdrawal.

How much are foreign transaction fees?

Where foreign transaction fees apply, they’ll often be around 3% of the total transaction value. That doesn’t sound too bad, but it quickly adds up if you’re making a big ticket purchase or if you’re on a longer holiday with your family, for example.

The good news is that some banks and specialist providers don’t charge foreign transaction fees. In this article, we’ll cover providers that do not have foreign transaction fees such as Wise and Revolut, as well as some Australian banks that offer cards with no foreign transaction fees.

5 best travel cards with no foreign transaction fees in Australia

We’ve picked a selection of no foreign transaction fee cards, including international debit cards from specialist services Wise and Revolut, and travel credit cards from major Australian banks.

Although all of these cards have no foreign transaction fee to pay, that doesn’t mean they’re completely free to use. Here’s a quick summary of some of the key costs you’ll want to know about – we’ll look at some of the other common travel card fees a little later, too.

Travel debit cards tend to have a quite different fee structure to travel credit cards – and different options suit different customer needs. It’s helpful to compare a few different card types as well as different banks and providers, to make sure you’re getting the best fit for your needs. Here’s a quick summary of the fees you’ll pay to use the cards we’ve picked out above:

• Wise Debit Card : 10 AUD charge to get your card, with no ongoing fees. Currency exchange uses the mid-market rate, and you’ll get 2 free ATM withdrawals every month with low fees after that
• Revolut Debit Card : There’s no fee to get a card, but you might decide to pay a monthly account fee to get more features and free transactions compared with the free account options. All accounts including the free plans have some free ATM withdrawals and currency conversion – but fair usage fees apply once you exhaust your plan limits
• Latitude 28 Degrees Global Credit Card : No annual fee card, with a 3% fee to make cash withdrawals. As with any credit card, you’ll need to pay a variable interest rate if you don’t clear your bill in time every month, and penalties may apply for late or missed payments
• Westpac Lite Credit Card : Low interest rate card, with a representative rate of just 9.9% p.a. However, there’s a monthly fee of 9 AUD, and you won’t be able to make any cash withdrawals at home or abroad
• HSBC Low Interest Rate Credit Card : 99 AUD annual fee, with a 3% charge when you make cash withdrawals. You’ll also need to check the variable interest rate you’re offered to see what the overall costs may be – rates are relatively low compared to other card options, but the exact rate you get will depend on your credit score

Wise Debit Card

Key point: Hold and spend 50+ currencies, with mid-market exchange rates and low, transparent fees

Open a Wise account online or in the Wise app, and order your Wise card for a one time 10 AUD fee. You can add money in dollars or any of around 20 supported top up currencies, and convert to 50+ different currencies for spending with the mid-market rate and low fees from 0.43%. If you don’t have the currency you need in your account balance, the card can automatically convert for you with the mid-market rate and the lowest possible fee every time. No annual, monthly or ongoing charges.

Foreign transaction fee: No foreign transaction fee

Annual or monthly fee: No annual or monthly fee

Currency conversion: Mid-market exchange rate, with low fees from 0.43%

Benefits and rewards: Hold and exchange 50+ currencies, get paid with local bank details for 9 currencies, spend in 170+ countries

Read a full Wise Review here

Revolut Debit Card

Key point: Choose a free Standard plan, or upgrade to an account with monthly fees but more features and free transactions

Revolut accounts can hold and exchange 25+ currencies, and you can either pick a free plan with limited features and free transactions, or upgrade to one of 2 paid plan tiers which have more flexibility. All accounts have some fee free currency conversion, linked physical and virtual cards, and some free ATM withdrawals, but fair usage fees apply when you hit your account plan limits. Out of hours and exotic currency fees may also apply when you convert currencies, which are shown in the Revolut app.

Annual or monthly fee: 0 AUD – 24.99 AUD/month depending on the plan you pick

Currency conversion: Mid-market exchange rate to your plan limit, 0.5% fee after that

Benefits and rewards: Hold and exchange 25+ currencies, and get great saving and budgeting tools too

Read a full Revolut review here

Latitude 28 Degrees Global Credit Card

Key point: No foreign transaction fee, with travel benefits if your flights are delayed

The Latitude 28 Degrees Global Credit Card has no annual fee and no foreign transaction fee, but as with any credit card, you’ll pay interest charges if you don’t clear your bill every month, and penalty costs if you’re late settling up. If you need to make a cash withdrawal there’s a 3% or 4 AUD cash advance fee (whichever is higher), plus any relevant interest costs. Variable interest fees, with a representative 22.99% p.a. stated.

Annual or monthly fee: No annual fee

Currency conversion: Mastercard exchange rate

Benefits and rewards: Flight delay pass, giving entry to lounges and wifi access if your travel is delayed, Global data roaming available

Westpac Lite Credit Card

Key point: Westpac’s lowest interest credit card, which also offers no foreign transaction fees on overseas spending

The Westpac Lite Credit Card has a low interest rate with a representative 9.9% p.a. quoted, plus some opportunities to get shopping discounts with Westpac partners. However, there’s a 9 AUD monthly fee you’ll need to be aware of, and this card doesn’t allow you to make ATM withdrawals. Weigh up whether the monthly fee will make the saving on foreign transaction fees worthwhile.

Annual or monthly fee: 9 AUD/month fee

Benefits and rewards: Some shopping discounts available – main perk is relatively low interest rate

HSBC Low Interest Rate Credit Card

Key point: Relatively low interest, with some complimentary domestic travel insurance

HSBC’s Low Interest Rate Credit Card has an annual fee of 99 AUD, but in return you’ll pay no foreign transaction fee and there’s a pretty low interest rate, set at a representative 12.99%p.a. There’s some domestic travel insurance that comes as part of the package, and you can apply online in minutes for instant approval if you meet the eligibility criteria.

Annual or monthly fee: 99 AUD annual fee

Currency conversion: Visa exchange rate

Benefits and rewards: Relatively low interest rate, and some local travel perks

Other travel card fees

It’s important to read your card’s terms and conditions carefully, to make sure you’re aware of all the potential fees that could apply. Here are a few other travel card fees to watch out for.

Different cards have their own features and fees – but in general, debit cards have fewer overall costs as you won’t need to worry about interest charges and late payment penalties, which can all mount up rapidly. Compare a few cards to find the right one for you.

How to get a card with no foreign transaction fees?

The process you follow to get a no foreign transaction fee card will depend on the provider and card you pick. However, in most cases you can apply online and the card will be sent to you by post in a few days.

As an example, here’s how to order a Wise card in Australia:

• Open a Wise Account online in just a few minutes
• Get verified by adding images of your ID and proof of address
• Top up your Wise Account in the currency of your choice
• Tap the Cards tab and order your Wise card for a one time 10 AUD fee
• Your physical card will arrive in the post – you can also start spending with your digital card right away

Learn more about how to get a Wise card here.

How to use cards internationally

Using an international card to pay when you travel or shop online with overseas retailers is convenient and easy. Here are a few things to remember if you’re using your card overseas:

• Make sure your card will be accepted by the merchant or ATM – look for your card’s network logo (Visa or Mastercard for example)
• Check if your bank or card provider charges foreign transaction fees
• Always pay in the local currency to avoid extra fees incurred through dynamic currency conversion
• Check if you have to let your bank or card provider know of your travel plans in advance for security reasons
• Clear your credit card bill as soon as possible to avoid interest and late payment fees

Conclusion: Best cards for overseas spending Australia?

Australian customers have a good range of travel cards to choose from, including travel debit and credit cards. Whether you’re looking to hold a foreign currency balance and get the mid-market rate when you spend, or want a credit card to spread the costs of your payment across several months, there’s something for you.

Compare a few options, including regular credit cards and alternatives like the Wise debit card for convenient spending with the mid-market rate and low fees from 0.43%, and the Revolut debit card which lets you pick the account tier to suit your spending.

• GBP card in Australia
• JPY card in Australia
• EUR card in Australia

Best cards with no foreign transaction fees [Australia] FAQs

How do I avoid foreign transaction fees?

To avoid foreign transaction fees you may need to get a specific card for travel use. Options include travel credit cards, and travel debit cards from providers like Wise and Revolut. Credit cards can be handy if you want to spread the costs of your travel and don’t mind paying interest to do so – while debit cards can be flexible with low overall fees.

Which banks charge no foreign transaction fees?

Many banks offer credit cards with no foreign transaction fees, including the HSBC Low Interest Rate Credit Card and the Westpac Lite Credit Card for example. Or as an alternative, check out a non-bank provider like Wise or Revolut for a no foreign transaction fee card with low overall fees.

Is it better to pay in local or foreign currency with my card when travelling?

If you’re offered the alternative to pay in your home currency or the local currency wherever you are, always pick the local currency in your location. This avoids extra fees which can be applied when you choose to pay in your home currency instead.

What is the most cost effective way to exchange currency?

If you’re planning your travel spending you’ll want to check out a few currency exchange options, including specialist travel cards you can use to convert dollars to the currency you need, and to withdraw cash from ATMs in your destination. Travel cards generally present good value – as well as being convenient and safe.

Is it better to buy currency for the country you are visiting?

Buying currency in advance of travel gives peace of mind, but you won’t automatically get the best exchange rate if you’re switching dollars for local currency in cash at a money changing service. Another option is to get a no foreign transaction fee travel debit card from a provider like Wise or Revolut and use it to make cash withdrawals on arrival – this can mean you get a better rate compared to switching at home.

How do you avoid exchange rate fees?

Cut down on the fees involved in exchanging currencies by shopping around for a travel account and card with no foreign transaction fees and good exchange rates. Providers like Wise and Revolut can be a good place to start your research.

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Travel money cards with the lowest fees

We look at seven travel money cards from the big banks and airlines..

Prepaid travel money cards are offered by major banks, airlines and foreign exchange retailers like Travelex. Before travelling overseas, you load money into the card account, which locks in the exchange rate for foreign currencies at that time. 

You can then use the card for purchases and cash withdrawals just like a debit or credit card, usually wherever Visa and Mastercard are accepted. 

You can reload money on-the-go via an app or website, and if the card is lost or stolen, it can be replaced (usually at no cost to you).

Prepaid travel money cards also give you assurance that you're not handing the details of your everyday banking account to merchants you're not familiar with, and they provide easy access to cash when you want some, says Peter Marshall, head of research at money comparison website Mozo .

CHOICE tip: Travel money cards are best for longer trips. They're usually not worth your while if you're only taking a short trip, as some have closure, cash out and inactivity fees.

Travel money card fees

A major difference between prepaid travel cards and debit or credit cards is their fees. Some costs aren't immediately apparent, such as hefty margins built into the exchange rates.

And although fees have come down since we looked at these cards two years ago, you still need to watch out for:

• fees to load the card – either a percentage of the total or a flat fee
• ATM withdrawal fees
• a cross currency fee or margin when you use the card in a currency you haven't preloaded
• further fees if you close the account or haven't used the card for a period of time.

Travel money card with the lowest fees and best exchange rate

Westpac worldwide wallet.

Westpac closed its Global Currency Card in July 2021 and offers its new card in partnership with Mastercard.  It's also available from Bank of Melbourne and BankSA.

Currencies: AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, ZAR.

Key features:

• No loading, reloading, closing or inactivity fees.
• Free to use it in network ATMs in Australia and partner ATMs overseas in a range of countries including the UK, US and New Zealand.
• A charge applies at non-Westpac and non-partner ATMs in Australia and overseas.
• Best exchange rates for the US dollar, the Euro and GBP in our comparison.*
• The only card that lets you preload the South African rand.

Other travel money cards

Next to the Westpac Worldwide Wallet, there are six other travel money cards available.

Australia Post Travel Platinum Mastercard

Available online or at post offices.

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, AED.

• Fee to reload the card via BPay, debit card or instore, but free via online bank transfer.
• Closure fee.
• Fees for ATM withdrawals in Australia and overseas.

Cash Passport Platinum Mastercard

It's issued by Heritage Bank and is available online and from a number of smaller banks and credit unions (like Bendigo Bank and Bank of Queensland) as well as travel agents. 

• Fee to reload with a debit card or instore, but free via BPay.

CommBank Travel Money Card

CommBank Travel Money Card (Visa)

As NAB and ANZ have closed their travel money cards, this is the only other travel money card available from a major bank. This card has the largest variety of currencies that can be preloaded.

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, AED, VND, CNY.

• Fee if you make a purchase with currencies not preloaded.
• Fee for withdrawals at overseas ATMs.

Qantas Travel Money Card

Qantas Travel Money Card (Mastercard)

The only travel money card offering from an airline. It can be added as a feature to your Qantas Frequent Flyer card, so you don't need a dedicated card, and you can earn points using it.

• Free to reload via bank transfer or BPay, but there's a reload fee if using debit card.

Travelex Money Card

Travelex Money Card (Mastercard)

Travelex is an international foreign exchange retailer. In Australia, it operates more than 140 stores at major airports and shopping centres, across CBDs and in the suburbs. It was the card with the best exchange rate for New Zealand dollars.*

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD.

Fees : 

• Load fee instore, but free via Travelex website or app.
• Reload fee instore or via BPay, but free via Travelex website or app.
• Closure fee and monthly inactivity fee (if not used for 12 months).

Travel Money Oz Currency Pass

Travel Money Oz Currency Pass (Mastercard)

The Travel Money Group is owned by Flight Centre and is a foreign exchange retailer. 

• Reloading the card via an online bank transfer or instore is free, but there's a fee if you reload via BPay, debit card or credit card. 
• Cash out (closure) fee. 

Travel money card tips

• Make sure the card allows the currencies you'll need, and also consider stopovers. For example, the South African rand is only supported by the Westpac card.
• Try to load your card with the right currencies and amounts on days with good exchange rates. 
• Make sure you know how to reload your card if you run out of funds while overseas.
• It may be more convenient to choose a card that has an app that can be linked to your bank account.
• Avoid loading more money than you'll need as there may be fees and exchange rate margins to get the unused money back.
• Remember to cancel the card once you're finished your trip, especially if it has inactivity fees.
• Be mindful that you still may need a credit card, as travel money cards may not be accepted as security for hotels and car rental agencies. 

Stock images:  Getty, unless otherwise stated.

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Best No Foreign Transaction Fee Credit Cards of May 2024

ALSO CONSIDER: Best credit cards of 2024 || Best travel credit cards || Best rewards credit cards || Best cash back credit cards

Most credit cards tack an extra charge onto purchases made outside the United States. If you're planning to travel abroad, you'll want to look out for these foreign transaction fees (sometimes called international transaction fees). They are assessed by your credit card issuer and are usually 1% to 3% of the purchase amount, with 3% being common. That might not seem like a big deal, but if you spent, say, $3,000 at a hotel, you could be looking at an additional $90 charge.

The best way to avoid foreign transaction fees is to use a travel credit card that doesn't charge them. Any travel credit card worth its salt — including airline cards — will not charge foreign transaction fees, so you have plenty of options. Some major issuers — most notably Capital One and Discover — don't charge these fees on any of their U.S.-issued cards.

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Show summary

NerdWallet's Best No Foreign Transaction Fee Credit Cards of May 2024

Chase Sapphire Preferred® Card : Best for Bonus travel rewards

Wells Fargo Autograph℠ Card : Best for Bonus rewards + no annual fee

Capital One Venture Rewards Credit Card : Best for Simple travel rewards

Bank of America® Travel Rewards credit card : Best for Simple rewards + no annual fee

Capital One Quicksilver Cash Rewards Credit Card : Best for Flat-rate cash back

Capital One SavorOne Cash Rewards Credit Card : Best for Bonus category cash back

Capital One Quicksilver Student Cash Rewards Credit Card : Best for College students

Capital One QuicksilverOne Cash Rewards Credit Card : Best for Average credit

Ink Business Preferred® Credit Card : Best for Business travel

Best No Foreign Transaction Fee Credit Cards From Our Partners

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Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.

Bonus travel rewards

Bonus rewards + no annual fee, simple travel rewards, simple rewards + no annual fee, flat-rate cash back, bonus category cash back, college students, average credit, business travel, full list of editorial picks: best no foreign transaction fee credit cards.

Before applying, confirm details on the issuer’s website.

Chase Sapphire Preferred® Card

Our pick for: Bonus travel rewards

For a reasonable annual fee, the Chase Sapphire Preferred® Card earns bonus rewards (up to 5X) on travel, dining, select streaming services, and select online grocery purchases. Points are worth 25% more when you redeem them for travel booked through Chase, or you can transfer them to about a dozen airline and hotel partners. The sign-up bonus is stellar, too. Read our review. 

Wells Fargo Autograph℠ Card

Our pick for: Bonus rewards + no annual fee

The Wells Fargo Autograph℠ Card offers so much value, it's hard to believe there's no annual fee. Start with a great bonus offer, then earn extra rewards in a host of common spending categories — restaurants, gas stations, transit, travel, streaming and more. Read our review.

Capital One Venture Rewards Credit Card

Our pick for: Flat-rate travel rewards

The Capital One Venture Rewards Credit Card is probably the best-known general-purpose travel credit card, thanks to its ubiquitous advertising. You earn 5 miles per dollar on hotels and car rentals booked through Capital One Travel and 2 miles per dollar on all other purchases. Miles can be redeemed at a value of 1 cent apiece for any travel purchase, without the blackout dates and other restrictions of branded hotel and airline cards. The card offers a great sign-up bonus and other worthwhile perks ( see rates and fees ). Read our review.

Bank of America® Travel Rewards credit card

Our pick for: Simple rewards + no annual fee

One of the best no-annual-fee travel cards available, the Bank of America® Travel Rewards credit card gives you a solid rewards rate on every purchase, with points that can be redeemed for any travel purchase, without the restrictions of branded airline and hotel cards. Bank of America® has an expansive definition of "travel," too, giving you additional flexibility in how you use your rewards. Read our review.

Capital One Quicksilver Cash Rewards Credit Card

Our pick for: Flat-rate cash back

The original 1.5% flat-rate cash-back card still holds its own in a now-crowded field. The Capital One Quicksilver Cash Rewards Credit Card offers a compelling combination of a good rewards rate, redemption flexibility, sign-up bonus and introductory 0% APR period ( see rates and fees ). Read our review.

Capital One SavorOne Cash Rewards Credit Card

Our pick for: Bonus category cash back

Love the night life but dead-set against paying an annual fee? Consider the Capital One SavorOne Cash Rewards Credit Card . It pays a lower cash-back rate on dining and entertainment than the regular Savor card, but the rewards are nevertheless quite good ( see rates and fees ). The sign-up bonus is smaller than on the annual-fee version, too, but it's still solid ( see rates and fees ). Read our review.

Capital One QuicksilverOne Cash Rewards Credit Card

Our pick for: Average credit

This card for people with fair or "average" credit pays the same cash-back rate as the regular Quicksilver card, which targets people with excellent credit. The key difference is that this version charges an annual fee while the regular one does not ( see rates and fees ). Read our review.

Capital One Quicksilver Student Cash Rewards Credit Card

Our pick for: College students

The Capital One Quicksilver Student Cash Rewards Credit Card gets high marks for cards in its class, thanks to its $0 annual fee and its no-fuss rewards rate: 1.5% cash back on all purchases ( see rates and fees ). That's as good a combo as you'd find on even a lot of non -student cards. Read our review .

Ink Business Preferred® Credit Card

Our pick for: Business travel

The Ink Business Preferred® Credit Card starts you off with one of the biggest sign-up bonuses of any credit card anywhere: Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Travel℠. You also get bonus rewards on travel expenses and common business spending categories, like advertising, shipping and internet, cable and phone service. Points are worth 25% more when redeemed for travel booked through Chase, or you can transfer them to about a dozen airline and hotel partners. Learn more and apply .

OTHER RESOURCES

What is a foreign transaction fee.

A credit card foreign transaction fee is a surcharge that a credit card issuer places on purchases made outside the United States. The typical foreign transaction fee is about 3%. So if you went to London with a card that had a 3% fee and used it to buy something that cost $140, you'd be charged a foreign transaction fee of $4.20. This fee typically shows up as a separate line item on your credit card statement.

Be aware that you can get hit with a foreign transaction fee even if you never leave the country. Foreign transaction fees are based on where a purchase is processed rather than your physical location when you make that purchase. Say that instead of going into a store in London and making a purchase, you ordered something from that store online while at home in the U.S. The transaction might be processed the same as the merchant's in-store sales, and you'll wind up paying a foreign transaction fee.

Some issuers, including Capital One, Discover and USAA, do not charge foreign transaction fees on any of their cards, and many issuers do not charge them on specific cards. Credit cards marketed to frequent travelers usually do not charge foreign transaction fees, even if the issuer has them on other cards.

Top credit card issuers’ foreign transaction fees

Here’s a look at the standard foreign transaction fees charged by major U.S. credit card issuers. It’s important to note that many of these issuers waive the foreign transaction fee (also called an international transaction fee) on certain cards. Further, some major issuers don’t charge foreign transaction fees on any of their cards.

The standard foreign transaction fee for American Express is 2.7%. However, Amex does not charge a foreign transaction fee for cards like The Platinum Card® from American Express and the American Express® Gold Card .

The standard foreign transaction fee for Bank of America® is 3%. That said, if you have a Bank of America® credit card such as the Bank of America® Travel Rewards credit card or the Bank of America® Premium Rewards® credit card do not charge foreign transaction fees.

The standard foreign transaction fee for Barclaycard is 3%.

The standard foreign transaction fee for all Capital One cards is 0%. So whether you have a travel credit card or secured credit card, you won’t pay any international transaction fees.

The standard foreign transaction fee for Chase is 3%. So, for the Chase Freedom card, for instance, the foreign transaction fee is 3%. However, if you have certain Chase credit cards, like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve® , you won’t pay any international transaction fees.

The standard foreign transaction fee for Citi is 3%. If you’re looking for a Citi card that doesn’t charge these fees, however, there are some exceptions. For example, the CitiBusiness® / AAdvantage® Platinum Select® Mastercard® does not charge foreign transaction fees.

The standard foreign transaction fee on all Discover cards is 0%. So, whether you have the Discover it® Cash Back , the Discover it® Miles or a completely different Discover card, you will not be charged an international transaction fee.

The standard foreign transaction fee for U.S. Bank is 3%. But some U.S. Bank cards do not charge foreign transaction fees.

The standard foreign transaction fee for Wells Fargo is 3%. The Wells Fargo Autograph℠ Card , though, carries no foreign transaction fee.

» What about debit card foreign transaction fees?

Using credit cards internationally

Which credit cards work worldwide.

Whether you're in the U.S. or a foreign country, your ability to use a credit card at a merchant depends on whether the merchant accepts that card's payment network. The four major U.S. networks — Visa, Mastercard, American Express or Discover — all have an international presence, although to varying degrees.

In the U.S., Visa and Mastercard are ubiquitous. If a merchant accepts credit cards, it almost always accepts Visa and Mastercard, although there are a few exceptions, such as Visa-only Costco. Discover is a close third, just a hair behind the leaders. American Express is widely accepted, just not as widely as the other three. Smaller merchants, in particular, are less likely to take AmEx. Even so, when traveling in the U.S., you should be able to get by with a card on any of the four networks.

Outside the U.S., Visa and Mastercard are also dominant worldwide networks. And while American Express has a strong presence overseas — it has more cardholders outside the U.S. than in — it doesn't match the extent of Visa and Mastercard. Discover is a smaller player outside the U.S. If you're planning to travel internationally and your primary card is American Express or Discover, it's best to bring along a Visa or Mastercard as a backup.

Should I use dynamic currency conversion?

When you buy something with a credit card in a foreign country, your receipt will show the cost in the local currency. When you get your statement, however, you'll see that the charge has been converted to dollars. Your payment network takes care of the conversion, and you can usually be confident that you're getting a fair exchange rate. (A 2016 NerdWallet study found that Visa and Mastercard tended to convert currency at near-market rates, which is about the best you can get.)

Sometimes when you're shopping overseas, merchants will ask if you want your purchases to be denominated in dollars rather than the local currency. This is known as "dynamic currency conversion." It seems attractive, as it allows you to see how much you're spending in terms you understand — say, $50 rather than 5,000 Japanese yen or 45 euros. But dynamic conversion is usually a bad deal. That's because the exchange rates are considerably worse than what you'd get if you made your purchase in the local currency and then let your credit card network handle the conversion.

One other thing about dynamic conversion: It won't get you out of paying foreign transaction fees. If your card charges a fee on overseas purchases, it doesn't matter if those purchases are in dollars, yen, euros, rubles or whatever. You'll still pay the fee.

» MORE: Foreign transaction vs. currency conversion fees

Do I need a chip-and-PIN card?

Most credit cards issued in the U.S. are chip-and-signature cards. When you make a purchase at a store, the chip embedded in the card passes information to the merchant's computer system. Further, the chip protects that information with a one-time code so that if the data is stolen, it can't be used to make a counterfeit card. It's all very high-tech. But then you complete the transaction by verifying your identity in a decidedly low-tech way: You sign your name — and you might not even do that .

Cards issued in other countries have "chip-and-PIN" technology. You use the card the same way, but instead of signing your name to complete the transaction, you have to enter a four-digit code, or PIN. This adds a layer of security by making it harder for someone to use a stolen card.

When traveling abroad, you'll usually be able to use a U.S.-issued chip-and-signature card for in-person transactions. Among the places where you can't use one is at self-service kiosks and vending machines. These typically require chip-and-PIN.

Among major issuers in the U.S., Barclays offers chip-and-PIN on its cards. Some credit unions oriented toward military servicemembers who may be deployed overseas also offer chip-and-PIN functionality. If you don't have a chip-and-PIN card, it's not a crisis situation. You'll just have to plan ahead and keep in mind that if you need to buy something like train tickets, you'll have to go up to the window and buy from a live person rather than from a ticket machine.

Finally, be aware that simply having a PIN for your credit card does not make it a chip-and-PIN card. Many cards allow you to get cash advances for an ATM using a PIN. A PIN for accessing cash advances is not the same as one for verifying transactions though chip-and-PIN technology. If in doubt, ask your issuer.

Credit cards or travelers checks?

Travelers checks have been mostly replaced in travelers' wallets by credit and debit cards, which also solve many of the security problems that travelers checks were created to address. So while you can still get travelers checks, most travelers would find them more trouble than they're worth.

Back before credit cards were as widely used and accepted as they are today, people who didn't want to risk carrying a lot of cash on a trip would rely on travelers checks. A traveler might go to a bank or travel agency in their hometown and buy, say, six $100 checks, which they would sign at the bank. At their destination, they'd use the checks at stores or restaurants that accepted them, or exchange them for cash at a hotel or bank. When they redeemed the check, they'd sign it again, and the recipient would compare the signatures to verify the check.

Among the advantage of travelers checks:

If they were lost or stolen, the issuer would replace them, so you didn't lose money. Nowadays, credit card issuers can cancel a lost or stolen card and expedite a replacement just as quickly.

You could exchange them for cash far from home. The wide acceptance of credit cards makes cash less critical to carry, and credit cards can provide cash in a pinch. And, of course, debit cards can get you cash, too.

You could use them in places that didn't accept out-of-town personal checks. Today, credit cards are accepted at millions more locations than travelers checks ever were.

Travelers checks still have their uses. But when you combine the dwindling number of places that accept travelers checks with the fees you have to pay to get them, most leisure travelers will be better off with the cards they already carry.

NerdWallet's Erica Corbin contributed to this article.

Last updated on May 16 , 2024

Methodology

NerdWallet's Credit Cards team selects the best credit cards with no foreign transaction fee based on overall consumer value, as evidenced by star ratings, as well as their suitability for specific kinds of consumers. Factors in our evaluation include annual fees, rewards rates and redemption options, introductory and ongoing interest rates, bonus offers for new cardholders, international acceptance of the card's payment network, and other noteworthy features such as travel perks. Learn how NerdWallet rates credit cards.

Frequently asked questions

The typical foreign transaction fee is 3% of the purchase price. Charge a $1,000 hotel stay on a card that imposes such a fee, for example, and you'll pay an extra $30. However:

• Some issuers charge a lower rate. American Express has long charged 2.7%, for example.

• Some issuers have no foreign transaction fees on any of their cards. They include Capital One, Discover and USAA.

• Most credit cards specifically designed for frequent travelers do not charge foreign transaction fees, even when the issuing bank charges such fees on its other cards.

When a foreign transaction fee applies to a purchase, you won't see it until you receive your credit card statement. That's because the fee is charged by the credit card company, not by the merchant. If you charge a $1,000 hotel stay in another country, your receipt from the hotel will just say $1,000 (or the equivalent amount in the foreign currency); when your statement arrives, the charge for the purchase will total $1,030.

When you buy something in a foreign country, the merchant may give you the option of having the purchase converted to U.S. dollars so you can see how much it costs in a way you're more likely to understand. (See the question about dynamic currency conversion below.) But for the purpose of the foreign transaction fee, it usually doesn't matter whether a purchase is submitted to your credit card company in U.S. dollars or in the local currency. The fee applies based on where the transaction takes place, not how it is denominated.

The one exception among major issuers is U.S. Bank, which charges a 3% foreign transaction fee but knocks that down to 2% if the purchase is denominated in U.S. dollars.

Foreign transaction fees are independent of exchange rates. Currency exchange rates tell you how much a unit of foreign currency is worth in dollars. If you buy something in France for 100 euros, for example, the cost in dollars might be $105 or $110 or $112.37 or something else, based on the current exchange rate. Your credit card's payment network — Visa, Mastercard, Discover or American Express — converts foreign purchases to dollar amounts according to the current exchange rate. The foreign transaction fee is then applied to the converted dollar amount.

Dynamic currency conversion is a service offered by some merchants overseas, in which they convert your purchase to dollars so that you can better get a sense of what it costs. It might be easier for you to understand a price of, say, $35 compared with 500 South African rand. Using dynamic currency conversion will not affect your foreign transaction fee in most cases. (An exception is U.S. Bank, which reduces the fee to 2% when purchases are processed in U.S. dollars.)

In general, dynamic currency conversion is a costly convenience for U.S. travelers. A NerdWallet study of credit card currency conversion rates found that when you let your credit card company convert your purchase to dollars, it usually does so at the current market rate. But when you choose dynamic currency conversion, it typically costs you an extra 1% to 3% because the merchant uses a less favorable exchange rate and pockets the difference. In other words, rather than save you money, dynamic currency conversion could as much as double the surcharge on a foreign transaction.

About the author

Sara Rathner

Cash back vs. travel rewards: How to choose a credit card

I f you're new to credit card rewards, one of the first questions you'll need to answer for yourself is: Should I get a card that earns travel rewards or a card that earns cash back?

The good news is you can find reliable options among the top cash-back credit cards and the best travel credit cards . In the end, you may want both a cash back and a points card .

Below, we'll break down the pros and cons of different types of cards and their associated rewards programs. We'll dive into things like rewards value, welcome offers, redemption, ease of use and perks. Considering these options will help you choose the best card for you.

Your spending and goals

The number of credit card options is both the best and most challenging part of choosing a card. Before we dig into what different cards offer, you'll want to think about your own spending habits and goals .

First, take a look at where your money is going right now. Are you renovating a home and spending a large portion of your money at home improvement stores? Maybe you're traveling a lot for work or spending your weekends trying out all the new restaurants nearby. Whatever you're doing, you can find a card that will maximize your rewards in your highest spending categories.

Then, determine what you would like to get out of your credit card rewards. Do you want to use points and miles to visit family over the holidays or book a dream vacation? Or are you hoping to help cover the cost of a large upcoming expense?

These answers are unique to you, and determining them upfront will help you decide which options will work best for you.

Types of cards

Generally, we designate credit cards as either travel rewards cards or cash-back cards. The names are pretty self-explanatory: they are cards that either earn travel rewards or simple cash back.

However, some cards offer more flexibility and allow users to choose how they redeem their rewards. Cards that earn transferable points , such as American Express Membership Rewards or Chase Ultimate Rewards , allow the cardholder a variety of options for redeeming the points they earn. While some redemptions are more valuable than others (more on that below), it can be nice to have the option to change your redemption strategy in case your goals change in the future.

Welcome offers

What you earn on credit card spending is essential, but nothing beats a card's welcome bonus when it comes to accumulating rewards quickly. The first few months of card ownership are potentially the most valuable since these bonuses can be worth hundreds or even thousands of dollars.

Travel rewards cards almost always offer higher welcome bonuses than cash-back cards. For example, The Platinum Card® from American Express currently offers a welcome bonus of 80,000 Membership Rewards points, worth $1,600 (according to TPG calculations ).

However, a higher bonus on a travel rewards card usually comes with a higher spending requirement. In order to get the bonus on The Platinum Card, for instance, you'll need to spend $8,000 in the first six months of membership. (Terms apply.)

Cash-back cards, on the other hand, generally offer a much lower bonus but also require a much lower spend in order to receive it. For example, the Capital One Quicksilver Rewards Credit Card provides a one-time $200 bonus but only requires you to spend $500 on purchases within the first three months of opening your account to unlock the bonus.

Reward categories

When you consider a card's reward categories , it's helpful to identify where you spend the majority of your money.

While it makes sense that most travel rewards cards earn the most on travel purchases , you can find both travel rewards and cash-back card options that will reward you for everyday spending at places like supermarkets and gas stations .

The Chase Sapphire Reserve® , for example, is a travel rewards card. Using it, you'll earn 3 points per dollar on all travel spending. Apart from travel, though, the card also earns 3 points per dollar on dining and 10 points per dollar on Lyft rides (through March 2025). Since TPG values Chase Ultimate Rewards Points at 2.05 cents each, you'll effectively earn a value of 6.2 cents per dollar spent on travel and dining, as well as a very lucrative return of 21 cents per dollar spent on Lyft rides.

But if travel isn't a big spending category for you, or if you want to earn your rewards in the form of cash back, there are some excellent cash-back cards with different reward category options.

The Blue Cash Preferred® Card from American Express , for example, gives you 6% cash back at U.S. supermarkets (on up to $6,000 per calendar year in purchases, then 1%) and 6% cash back on select U.S. streaming services (with no cap), 3% cash back at U.S. gas stations and transit, while giving 1% back on other purchases. That means for every dollar you spend at U.S. supermarkets (up to $6,000 each calendar year), you'll earn 6 cents that can be applied to a statement credit.

An important element to consider as you make your credit card decision is whether a card has an annual-fee and, if so, whether it is worthwhile to pay .

Travel rewards cards have a reputation for carrying higher annual fees, and sometimes for good reason: many premium travel rewards cards have annual fees of $350 or more. The welcome bonuses and perks of these cards generally offset the cost of the annual fee , but the cost itself may not be something you want to pay right now if you're on a tighter budget.

The good news is that plenty of lower and no annual fee travel rewards cards are available.

The Chase Sapphire Preferred® Card , for example, has an annual fee of only $95 and still comes with a welcome bonus of 75,000 Chase Ultimate Rewards points after you spend $4,000 on purchases in the first three months from account opening. It also still earns you 2 points per dollar on travel, 3 points per dollar on dining, and 5 points per dollar on Lyft rides (through March 2025). With our 2.05-cent-per-point valuation , that's a lot of value for a relatively low annual fee.

Furthermore, the Capital One VentureOne Rewards Credit Card (see rates and fees ) has no annual fee and offers 20,000 bonus miles after spending $500 within the first three months from account opening. You also earn 1.25 miles per dollar on every purchase.

While the perks aren't as abundant as the perks of cards with higher fees, these cards, along with other low and no-annual-fee travel cards, are a great way to earn travel rewards with lower out-of-pocket costs.

With cash-back cards, you'll find even more options if you want to avoid annual fees . Some of our favorite no annual fee cash back cards are the Citi Double Cash® Card (see rates and fees ) and the Chase Freedom Unlimited® . If you're looking at a cash-back card that does carry an annual fee, though, make sure your earning potential makes the fee worth it. An annual fee on a cash-back card can quickly eat into the rewards you'll earn with the card.

Big welcome bonuses and hefty annual fees tend to lead to valuable perks , which is a point in favor of points and miles cards. The Chase Sapphire Reserve® , for instance, includes a $300 annual travel credit reimbursement and complimentary access to Priority Pass lounges .

Other card benefits to look out for include baggage insurance , primary car rental insurance and purchase protection .

Cash-back cards tend to have fewer benefits, but you should still be able to find a card that offers some industry-standard benefits, like these:

• Purchase protection: Covers your new purchases for a limited amount of time against damage or theft up to a certain amount per claim and per account.
• Extended warranty: Extends the period of a U.S. manufacturer's warranty (typically up to a year) on eligible warranties (of up to three to five years typically).
• Zero Liability: You won't be held responsible for unauthorized charges made with your card or account information. Federal law generally limits your liability to $50.

Ease of using rewards

While many travel rewards cards offer excellent bonus categories and perks, keeping up with everything takes effort. Especially if you end up with multiple cards , it can be easy to get overwhelmed as you figure out which cards to use for different purchases to maximize your benefits. Then, once you have your points and miles in hand, you'll need to figure out how you want to redeem them . If you're able and willing to put some work into your strategy, you'll be able to get some excellent value with these rewards.

However, not everyone wants or is able to put much energy into maximizing their credit card rewards. If that's you, a cash-back card may be a better choice.

If you're looking for simplicity, cash-back cards are hard to beat. The most work you'll likely have to put in for one is activating the quarterly 5% bonus categories on the Chase Freedom Flex℠ .

But if you don't even want to deal with rotating categories, you can opt for a card like the Citi Double Cash® Card which pays 2% cash back (1% cash back on all purchases and another 1% back when you repay on time) on all purchases. Paying on time and in full (one of TPG's ten credit card commandments ) means you'll enjoy an almost effortless 2% cash-back reward on all purchases with this card. That's a pretty good deal for everyday spending and very little effort.

Redeeming points for cash back or travel

Cash-back cards win again for simplicity on redemption since one cash-back percentage point equals 1 cent per dollar spent. But when it comes to value, points and miles cards almost always come out on top.

When redeeming points and miles, 1 point or mile is almost always worth more than 1 cent. Furthermore, a point is often not a fixed-rate commodity. The value of currencies like Amex Membership Rewards , Chase Ultimate Rewards and Citi ThankYou points are hard to pin down since you can transfer these rewards to various travel partners and get much more value for a first-class flight.

There's certainly a learning curve, but referencing our valuations is an excellent way to see if you're getting a good bang for your buck, especially if you're considering traveling soon.

Is it better to redeem points for cash or travel?

Generally speaking, it's better to redeem your points for travel. You'll likely get more value from a travel redemption than cash back for the same number of points. It's best to aim to get at least 1.5 cents value from each point .

Is it better to get cash back or gift cards?

It depends. It's hard to beat the simplicity of a cash-back redemption since most cards offer this redemption in the form of a statement credit. However, sometimes, gift card redemptions are offered at a higher value than cash back. If you can find a good deal on a gift card you'll use, a gift card redemption may make sense.

Is there a downside to cash back?

Cash back is great if cash flow is what you need or want right now or if you don't have the energy to keep up with a more complex credit card strategy. However, you'll generally get more value for travel redemptions using a rewards credit card rather than a cash back card.

Are airline miles worth more than cash back?

Yes. Cash back is usually valued at 1% or 1 cent, whereas most airline miles are worth more than 1 cent . However, some airlines like Hawaiian Airlines and Spirit Airlines have poorly-valued miles, so cash back is better in these cases.

Bottom Line

If your top priority is getting the most value out of a credit card — no matter the blood, sweat and tears required — you should get a travel rewards card and maybe a premium one at that. You'll get far more value out of one of these cards from the bonus, the points, the perks and the redemption options than you'll get from a cash-back card.

But not everyone has the time or inclination to put this much effort into tracking spending and returns, which is where cash-back cards come in. There's nothing wrong with either perspective.

The only major misstep you can take — if you pay your credit cards off every month — is not to take advantage of the free money issuers will throw at you in the form of welcome offers.

Related: The pros and cons of cash-back credit cards

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Should You Use a Credit Card or Cash on Vacation?

Consider your spending, destination and flexibility when choosing cash or credit card for vacations.

Cash or Credit on Vacation?

Getty Images

It may be best to bring both cash and credit cards on vacation for different types of transactions or if one form of payments gets lost.

Key Takeaways

• You'll be best prepared if you plan to use both cash and credit cards on vacation, as either payment type can function as a backup.
• Consider your spending habits, destination and trip duration when choosing whether to use cash or credit cards as your primary method of payment on vacation.
• Take steps to keep your cash and credit cards safe while traveling by dividing cash into multiple stashes and using tap to pay for credit cards.

Cash is king, but credit can offer greater security when you travel. Before you head out on vacation, make plans for whether you'll pay for expenses such as meals, souvenirs and local transportation with cash or credit. Consider how you plan to spend, where you're going and how flexible your money needs to be as you choose between cash or credit as your preferred payment method.

Pros and Cons of Using Cash on Vacation

Cash can offer flexibility and help you avoid fees, but it can be risky to carry on vacation.

According to Travis Cormier, chief operating officer of credit card rewards travel site 10xTravel, using cash largely depends on your destination, as you won't always find vendors who take cards in every destination. "Consider the remoteness of where you're going, as well," Cormier says. "Many card transactions require the internet to process, so if you're traveling somewhere like Egypt or Morocco where you'll be out of the city centers, expect to need cash."

Pros of Cash

Budgeting: When you pay in cash, it's easy to keep up with spending because you can see how much is left every time you open your wallet.

Avoiding fees: You may have to pay a foreign transaction fee when you use a credit card, and some establishments charge a fee on top of that for you to use a credit card instead of cash or debit.

Flexibility: Cash works almost everywhere, especially if you're leaving tips or buying food from a street vendor. You might have an easier time haggling with cash, too.

Cons of Cash

Theft or loss risk: Once cash is lost or stolen, there's no way to recover it. Also, it could be dangerous to travel with all of the cash you need for your trip.

Planning required: You'll need to plan ahead and get enough cash for your vacation just in case you can't find an ATM that works with your bank.

Less acceptance: Although cash is often widely accepted, businesses that have gone cashless and only accept debit or credit cards are increasing. Hotels and car rental companies may require you to have a card on file even if you're paying cash.

"The downside of paying with cash when traveling is that you have to carry around large sums of money with you, and you run the risk of misplacing it or theft," says budgeting expert Andrea Woroch. She suggests carrying a debit or credit card as a backup to cash.

Cormier says using cash in countries with a volatile currency may eventually make your cash less valuable. "If you don't use all the cash and you're saving it for a future trip, it may not be worth as much next time you travel."

Pros and Cons of Using Credit Cards on Vacation

Credit cards can offer greater protections than cash, but you may experience fees or issues with acceptance depending on where you're traveling.

Pros of Credit Cards

Expense tracking: You can keep track of what you've spent by logging into your online account.

Rewards and benefits: Many credit cards earn cash back you can use to offset travel expenses, or others may earn points to use toward your next trip. Some may offer travel protections such as trip cancellation coverage, and your benefits may include travel perks such as airport lounge access.

Easy replacement: If your card is lost or stolen, it's typically easy to lock your card with an app or phone call, remove fraudulent charges and get a new card sent to you. However, you should have a backup payment method to use while you wait to get a new card.

The security of credit cards can't be understated. "If you lose your cash, then that money is gone," says Cormier. "If you lose your card, it may be an inconvenience, but you can at least cancel it and get a new card reissued and you're not liable for any unauthorized purchases on the card."

Your card may also offer travel protections that can save you money and offer reassurance, says Spencer Howard, founder of points travel site Straight To The Points.

"Beyond earning points, miles or cash back, many credit cards come with a variety of travel benefits such as trip delay and cancellation protection and bag delay protection," says Howard. "Delays and cancellations are stressful enough, so knowing that you can cover some necessary expenses provides a little peace of mind."

Cons of Credit Cards

Foreign transaction fees: Some credit cards charge a fee for purchases made abroad or in foreign currency. However, there are numerous cards with no foreign transaction fees if you'd prefer not to pay this when you travel.

Unexpected declines: Credit card issuers use advanced algorithms to detect fraud, but may erroneously flag your account for fraud and not allow charges when you make purchases that don't follow your usual pattern.

Acceptance issues: Although the major credit card issuers are widely accepted, there are exceptions. Discover and American Express are accepted at fewer locations than Visa and Mastercard, so you should bring a Visa or Mastercard as a backup.

How to Choose Between Cash or Credit Cards on Vacation

Choosing between cash or credit cards on vacation isn't an either-or situation, as you should be prepared to use both. Consider your spending habits, the destination and how long you're traveling.

You might prefer to primarily use credit cards but bring cash as a backup in case your cards are lost or compromised, a merchant doesn't accept cards or you want to tip in cash. Alternatively, you might prefer cash but still bring a credit card or two along as a backup if you lose your cash, need to put a card on file for a hotel or rental car or encounter a cashless business.

Also think about the types of transactions you'll make. Cash may be a good choice for small transactions such as meals or souvenirs, while a credit card is better for hotel accommodations or tours.

Consider the trustworthiness of where you're spending money before you hand over cash. "If a merchant fails to provide the service or product you've purchased, using a credit card gives you the option to file a (dispute) so your bank can investigate," says Howard, who notes if a merchant accepts credit cards, that's always his preferred payment method.

Look ahead to your destination and understand whether you'll need to convert your cash, how easy it is to access ATMs that connect to your bank and how widely your credit cards are accepted. Trip duration matters, too, as carrying enough cash to cover a long trip may not be practical.

"Travelers deciding on cash or cards for vacation spending need to consider the benefits of their card and the accessibility of card payments in the country they're traveling to," says Cormier. "Additionally, if you don't get cash in advance, your bank may charge you a foreign ATM fee to get cash in a foreign country, and ATMs can set their own conversion rates that don't match the market rates."

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Tips for Using Cash and Credit Cards on Vacation

A few things to keep in mind when spending on vacation:

• Divvy up the cash. Keep cash safe by dividing it into stashes in multiple locations, such as in your wallet, money belt, hidden pocket and in your hotel safe. Only carry what you need for the day's expenses and be discreet about handling cash in public.
• Do your research. When exchanging currency, only visit reputable banks or currency exchange offices, and compare exchange rates to find the best place to convert your cash.
• Avoid fees. Use a credit card that doesn't charge foreign transaction fees.
• Alert your bank before you leave. Some credit card issuers ask you to set up a travel notice to avoid having them errantly flag your account for fraud. You may be able to set up the notice online or by phone.
• Shop like a local. If a merchant offers the option to pay with your home currency, decline it and pay with the local currency, as the exchange rate you'll get from your card should be better than what's available at the register.
• Tap to pay when available. Whenever possible, use tap to pay with your phone or watch. It's the most secure way to pay because you don't need to pull out your wallet and it reduces the risk of card skimming and fraud.

"Rather than choose one or the other, consider utilizing cash and cards to be sure you're fully covered," says Cormier, who recommends taking out about $100 to $200 and planning ahead for foreign currency. "Most major U.S. banks can order cash for you for any country, but you'll often need to reach out a few weeks before your trip for them to get it in time. If you need more cash, you can get more at your destination."

Tags: credit cards , Vacations

Comparative assessments and other editorial opinions are those of U.S. News and have not been previously reviewed, approved or endorsed by any other entities, such as banks, credit card issuers or travel companies. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired.

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Here's why i only use one credit card when i'm traveling abroad.

Over the last year and a half, I've gotten a lot better at maximizing my credit card usage to earn points and cash back. I often strategize about which card to use for which purchase. In fact, when I traveled to Hawaii earlier this year, my travel companion and I used four different cards between us to boost the rewards we earned.

You might expect me to be chomping at the bit to do the same when I travel abroad -- but I just returned from a trip to Northern England, and I relied on just one card for the entire trip (including booking my flight and a two-night hotel stay before I left the U.S.). I did bring a backup credit card, just in case I encountered a mishap or lost the card I was planning to use for everything, but as it turned out, I didn't need to use it. Here's why relying on just one card for an international trip can work in your favor.

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It saves you time

First and foremost, only using one credit card for a vacation abroad is a great time-saver. At home, I have more time to ponder which card is best for which purchase, based on the type and amount of rewards it earns (often expressed as points per dollar or a certain percentage of cash back).

But I don't get out of my own country very often, so that time is special -- I would rather pull out the same card for every purchase, hotel stay, or restaurant meal than worry I'm losing out on rewards by not using a different card in every situation.

It's easier to track your spending

I had set a strict budget for my England trip, so I needed to keep a close eye on my spending while I was out of the country. Using the same credit card meant that I only needed to log into one mobile app to see how much I spent every day of my trip -- and since the app automatically converts GBP to USD, I didn't have to do the math myself.

It aggregates your points for future travel

Finally, I relied on just one card for this trip because I wanted to build up as many points as possible for future travel. And this card in particular is a travel superstar -- its highest bonus categories are travel booked through the issuer's portal, dining out, and other travel expenses, like public transit.

All other purchases earn a base rate of 1 point per $1, so I was earning points every time I whipped out my card to cover any expense. Best of all, now all the points I earned are sitting in my account, waiting for me to turn them into hotel stays or experience bookings through the card issuer's portal.

Three qualities of the best travel credit cards

Have I convinced you that using just one card on an international vacation is the way to go? Here are a few features shared by the best travel credit cards -- so you can pick the right one for your adventures.

1. No foreign transaction fees

OK, this one is absolutely crucial because foreign transaction fees have the potential to make your vacation a lot more expensive. A typical percentage for these fees is 3% -- so if you spend $1,000 in a foreign currency, you'll pay an extra $30. I'd rather spend $30 on a cheap pub lunch during my trip than on a silly fee.

2. A high credit limit

Unfortunately, you won't know what credit limit you'll be given until you apply for a card and get approved. But if you have several travel credit cards and are trying to pick the right one, I recommend going with the one with the highest limit. That way, you're less likely to bump up against it in the course of your spending. Keep in mind that using more than 30% of your credit limit is a short trip to credit score damage.

3. Bonus categories that fit your vacation spending

This one is pretty easy because most credit cards marketed for travelers specifically pay higher rewards rates in the categories that travelers use. These include travel bookings (plane tickets, hotel stays, and so on) and dining out (who doesn't love a fancy dinner on vacation?).

Travel credit cards can make international travel even better. Take the time to pick the right card for you and reap the benefits.

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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .

Here's Why I Only Use One Credit Card When I'm Traveling Abroad was originally published by The Motley Fool