Which credit cards have no foreign transaction fees?

Capital One: No foreign transaction fees on any cards. Bank of America: 3% on cards that charge a foreign transaction fee. Discover: No foreign transaction fees on any cards. Wells Fargo: 3% on cards that charge a foreign transaction fee. Using your card internationally requires some planning.

Do credit cards with no foreign transaction fees save money?

Credit cards with no foreign transaction fees can save you an average of 3% on purchases processed abroad, according to our research. The best credit cards with no foreign transaction fees can also get you 1% to 5%+ back in rewards, and we have found that using a no foreign fee credit card is the best way to convert currency while traveling abroad.

What is a credit card 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.

Do you need a card with no foreign transaction fees?

If you’re a frequent international traveler, a card with no foreign transaction fees is a must. The last thing you want is for rewards you earn on your trip to be wiped out by a 2% – 3% fee. What do you get in return for the foreign transaction fee? Nothing.