Best Credit Cards With No Foreign Transaction Fees of July 2022

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Foreign transaction fees are some of the most maddening charges associated with credit cards. They punish you, often to the tune of 3%, for spending your money outside the US. Whenever you travel abroad, you may be subject to foreign transaction fees.

Fortunately, nearly all of the best rewards credit cards waive this fee, including all Discover and Capital One cards. That makes them perfect companions for a trip overseas. Below, you’ll find some of our favorite rewards credit cards without foreign transaction fees, with an emphasis on travel rewards cards that offer bonus points and miles for airfare, hotels, and more.

We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

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

Best premium travel card: Chase Sapphire Reserve

Best with no annual fee: Discover it Cash Back 

The premium card with the most benefits: Amex Platinum

Major airline credit cards

The simplest rewards structure: Capital One Venture Card

Compare the best credit cards with no foreign transaction fees

Chase Sapphire Preferred® Card (jump to Chase Sapphire Preferred card details »)

One of the most popular and recommended travel rewards credit cards, the Chase Sapphire Preferred offers 5x Chase Ultimate Rewards® points per dollar spent on travel purchased through Chase Ultimate Rewards, 5x points on Lyft rides through March 2025, 2x points on all other travel purchases, including internationally, and 3x points on dining.

Dining includes things like restaurants, bars, pubs, coffee shops, and more, while travel includes airfare, hotels, Airbnb, taxis, ride-share services like Uber, subways, and more. Right now, the Chase Sapphire Preferred offers a welcome bonus of 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

The Chase Sapphire Preferred comes with benefits such as up to $50 in annual statement credits for hotels booked through the Chase Travel Portal and a 10% anniversary points bonus. This is also one of the

best credit cards

for travel and purchase protections, including primary car rental insurance and trip delay insurance.

Chase Sapphire Reserve® (jump to Chase Sapphire Reserve details »)

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

You get a $300 statement credit each cardmember year to cover your first $300 of travel charges, and a higher earning rate of 5x total points on air travel and 10x total points on hotels and car rentals purchased through Chase Ultimate Rewards (after earning the $300 travel credit) and 3x points on other travel and dining (plus 10x points on Lyft rides through March 2025 and 1 point per dollar on everything else).

The Sapphire Reserve earns a bonus of 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

As with the Preferred, the Sapphire Reserve recently got a refresh, with improved or new bonus categories and benefits like access to the new Chase Sapphire Lounges (when open) at New York-LaGuardia (LGA), Boston (BOS), San Diego (SAN), Phoenix (PHX), Las Vegas (LAS), and Hong Kong (HKG). As a Visa Infinite card, it offers top-notch travel insurance and purchase protections as well.

Discover it® Cash Back (jump to Discover it Cash Back details »)

The Discover it® Cash Back earn 5% cash back on up to $1,500 spent each quarter in bonus categories once activated (then 1%) (from July 1 to September 30, 2022, you can earn 5% cash back at restaurants and PayPal on up to $1,500 in purchases after enrollment, then 1%). There’s no traditional welcome bonus; instead, Discover will match all the rewards you earn after the first year. Along with no foreign transaction fees, Discover cards do not charge an annual fee.

Discover has also shared all of its bonus categories for 2022:

• Grocery stores and fitness club/gym memberships (January to March)
• Gas stations and Target (April – June)
• Restaurants and PayPal (July – September)
• Amazon.com and digital wallets (October – December) 

The Platinum Card® from American Express
 (jump to American Express Platinum card details »)

The Platinum Card® from American Express is more or less the flagship premium travel card, offering rewards, perks, and benefits that can net a ton of value for cardholders — whether you’re traveling or staying close to home. You can more than offset the card’s $695 annual fee (See Rates) if even a handful of card perks fit into your normal spending habits.

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

There’s also an excellent welcome offer: 100,000 Membership Rewards points after you spend $6,000 in your first 6 months of card membership.

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

Major airline cards (jump to major airline card details »)

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

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

Capital One Venture Rewards Credit Card (jump to Capital One Venture card details »)

The Capital One Venture Rewards Credit Card is another great option without foreign transaction fees and with an annual fee under $100, especially because you can transfer Capital One miles to various airline and hotel programs with an improved 1:1 ratio for most partners.

The card earns 2 miles per dollar on most purchases (along with 5 miles per dollar on hotels and car rentals booked through Capital One travel) — the simplest rewards structure among travel credit cards. You can also redeem Capital One miles at a fixed rate of 1 cent each toward travel purchases made with your card, without having to worry about award charts and blackout dates.

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

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

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

No foreign transaction fee credit cards frequently asked questions (FAQ)

How do foreign transaction fees work?

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

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

Do foreign transaction fees apply online?

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

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

David E. Slotnick

Senior Reporter

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