Tuesday, January 31, 2023

Does Chase Freedom Credit Card Charge Foreign Transaction Fee

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Chase Sapphire Preferred: Best For Total Value

Top 5 No Foreign Transaction Fee Cards | Credit Card Reviews

Annual fee: $95

Sign-up bonus: 100,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. .

Earning rate: 5x total points on all travel purchased through Chase Ultimate Rewards, 3x points on dining, including eligible delivery services, takeout and dining out, 3x points on select streaming services, 3x points on online grocery purchases , 2x points on all other travel, 1x point on all other purchases

Why we like it: Chase Sapphire Preferred has always been one of the best rewards credit cards for international travelers. Chase Ultimate Rewards points are some of the most valuable points available, and this card offers plenty of ways to earn points. For premium rewards redemptions, youll find points are typically most valuable when transferred to one of Chases 11 airline three and hotel partners, such as United or Hyatt. Alternatively, points can be worth 1.25 cents each toward travel and activities booked through the Chase Ultimate Rewards Travel Portal or for certain purchases with Chases Pay Yourself Back feature.

Annual fee: $250 & c_issuer=American+Express& c_location=unknown& c_positionId=3& c_exitPageId=https%3A%2F%2Fthepointsguy.com%2Fguide%2Famex-gold-card-review%2F” rel=”nofollow”> rates and fees)

Welcome offer: 60,000 points after you spend $4,000 on purchases in the first six months of account opening .

Annual fee: $95

Bonus rewards: 2x on every purchase

Chase Freedom Flex One

You can earn $200 cash back after spending $500 on purchases with the Chase Freedom Flex card in the first three months from account opening. The one-time bonus is deposited into your rewards account as 20,000 Ultimate Rewards points. This bonus offer is decent for a no-annual-fee credit card and the spending requirement is reasonable, as well.

Chase says the bonus should post to your Ultimate Rewards account within six to eight weeks after qualifying. Your account cannot be in default and must be open to qualify. Current cardholders and those who previously had this card and received a bonus within the past 24 months do not qualify for the bonus.

What Is The Chase Student Freedom Credit Card

The Chase Freedom® Student credit card is a cash back rewards credit card issued by JPMorgan Chase. Specifically, this card is designed to cater to the needs of students. Although the Chase Freedom® Student is not the most lucrative rewards card offered by Chase, it does offer a worthwhile slate of benefits and perks. Plus, you wont run into any annual fees.

Heres what the Chase Freedom® Student credit card has to offer.

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Rogers World Elite Mastercard

In the same vein as the aforementioned Rogers Platinum Mastercard, the premium Rogers World Elite isnt a true no foreign transaction fee card and only offers savings on select foreign purchases. Specifically, it earns 3% on purchases made in US dollars, which means youll come out ahead by 0.5%.

Purchases made in any foreign currency other than USD will result in the typical foreign transaction fees.

Its a major drawback for sure, but considering many international websites and merchants do accept USD as a payment option, you could still technically save on some foreign purchases outside of the US.

The bigger downside of the Rogers World Elite is the fact you must spend at least $15,000 on the card annually just to be considered eligible to keep it. If you dont hit that $15,000 minimum, you may be forcibly downgraded to the entry-level Rogers Platinum Card covered above. Its an odd stipulation and essentially forces you to default to using the Rogers World Elite for the majority of your everyday purchases.

The Rogers World Elite does offer an impressive 1.5% cash back on all other everyday purchases and charges no annual fee. The card does have a steep income requirement though and youll need to earn at least $80,000 annually in order to be approved.

Discover It Miles: Best For New Cardholders

Does Bank Of America Credit Card Charge Foreign ...

Why we picked it: The solid 1.5X miles earned on all purchases can really add up, plus your miles matched at the end of your first year.

Pros: The lack of annual fees, foreign transaction fees and miles limits plus the flexible redemption options make for a powerhouse travel card for beginners.

Cons: While this may not be a total dealbreaker for budget travelers and newbie cardholders, miles cant be transferred to airline loyalty programs

Who should apply: If youre looking for a travel credit card but you dont want to get locked into confusing points offers or an annual fee, the Discover it Miles just may have what youre looking for.

Who should skip? Travelers who typically fly one airline or a specific airline alliance may be better off with a co-branded card that offers more carrier-specific perks.

Read our Discover it® Miles review or jump back to this cards offer details.

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Chase Sapphire Reserve: Best Premium Travel Card

Annual fee: $550

Sign-up bonus: 60,000 points after you spend $4,000 on purchases in the first three months from account opening .

Bonus rewards: 10x on Lyft purchases , 3x on travel and dining purchases 1x on everything else

Why we like it: This premium travel rewards credit card became hugely popular when it was first released in 2016 and has remained one of the best travel credit cards for many TPG readers. In fact, it currently holds the title for Best Premium Card from the TPG Awards in 2020.As with the Chase Sapphire Preferred, youll find the most value by redeeming points through Chases transfer partners or through the Chase Ultimate Rewards portal. The Reserve boosts the value of these awards to 1.5 cents per point.

Other benefits include an annual $300 statement credit for travel, up to $60 in annual statement credits on DoorDash , at least one year of DashPass membership, Lyft Pink membership, up to $100 credit for your Global Entry or TSA PreCheck application fee every four years and a Priority Pass Select membership that includes guest access. Plus, you can use the CSRs $300 annual travel credit on purchases at grocery stores and gas stations through the end of 2021.

Annual fee: $0

Sign-up bonus: $200 after you spend $500 on purchases in the first three months.

Bonus rewards: 3% cash back on dining, entertainment, popular streaming services and grocery stores 1% on everything else

Annual fee: $95

Chase Debit International Exchange Rates

When youre using your card abroad, either to buy stuff or to withdraw money from an ATM, there are two main things that can make a difference to the deal you get. One is that your card provider can charge a fee upfront, but the other is the exchange rate youre given. You may not think about this at the time, but youll notice the difference when you see your statement later on.

Luckily you can get ahead of the curve. The first thing youll need to know is the mid-market rate. This is what banks will use when theyre doing transactions between themselves, and its the number youll see if you use a site like Google to look up rates.

Unfortunately, its often not the rate youll be offered abroad. Thats because the ATM operator or card company will likely add a markup its rarely called a fee, but it has the same effect.

With a Wise borderless account, you can seamlessly transfer funds in over 50+ currencies using a single account. The only fee youll pay is the one youll see clearly stated on the site. Thats it.

And it uses the mid-market rate, so therell be no extra markups, either. If this sounds like what youve been waiting for, go ahead and try it today.

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I Wanted Travel And Security Perks

Another reason I chose the Chase Freedom Unlimited is because it has comprehensive benefits related to travel.

For example, I get the auto rental collision damage waiver, trip cancellation/interruption insurance and travel and emergency benefits, all of which could come in handy on a European road trip.

The comprehensive security perks also appealed to me: zero liability protection, purchase and extended warranty protections and fraud monitoring.

And finally, the cards free credit score and identity restoration with sealed the deal.

What Makes Other Cards Better Than The Chase Freedom Unlimited

Credit Card Foreign Transaction Fees on the Comeback??!!
  • High fees on foreign transactions

If you are a frequent overseas traveler, the foreign transaction fees can add up quite rapidly. The Chase Freedom Unlimited charges cardholders 3% on foreign transactions. If you frequently transact overseas using a credit card, you may want to look at a card that does not charge a foreign transaction fee like the HSBC Gold Mastercard.

  • High fees on balance transfers with no introductory 0% APR period

This is hardly astonishing given that the Chase Freedom Unlimited is a cashback card and not a balance transfer card. If you are looking to cut back on debt, you will be better off with a balance transfer card.

Nevertheless, you could find a sweet spot if you are impressed with the perks offered by Chase Freedom Unlimited.

You can do this if:

  • You qualify to be charged at a rate that is towards the lower end of the variable APR scale on Chase Freedom Unlimited, and
  • This Chase Freedom Unlimited APR is lower than the interest rate you are currently paying.

You could run some numbers and see if the savings will add up to a significant amount.

However, a balance transfer to Chase Freedom Unlimited comes with a 5% balance transfer fee as well, so be sure to factor that in.

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Chase Freedom Unlimited Overview

Although the Freedom Unlimited isn’t one of Chase’s dedicated travel rewards cards, it does come with some nice rewards. Here’s how it works:

Chase Freedom Unlimited can be a great card for your regular everyday spending. But you probably won’t want to make it your go-to for spending abroad. If you do, this card’s foreign transaction fee might make a sizeable dent in your vacation savings.

If you plan to travel abroad, you may want to consider the Chase Sapphire Preferred instead. Chase Sapphire Preferred has no foreign transaction fees.

Chase Cards With No Foreign Transaction Fees

Many credit cards these days have done away with foreign transaction fees, including more than a dozen Chase cards, geared toward both consumers and for small business owners. Some are affiliated with airlines and hotels, which will offer the frequent traveler even more comfort and while abroad.

Let’s take a look at some Chase cards that offer no foreign transaction fees:

Chase Sapphire Preferred® Card: Let’s start with the card that kicked off this article. The Chase Sapphire Preferred® Card, which is a top travel rewards card, has a $95 annual fee.

But, by not paying foreign transaction fees, you’d only need to spend about $3,200 outside the U.S. to offset the annual fee, compared to what you would pay if your card had a 3 percent foreign transaction fee. And that’s without even taking into consideration the rewards you’ll earn that can also go toward offsetting that fee.

Cardholders earn 5X total points on all travel purchased through the Chase Ultimate Rewards® portal 3X points on dining, including eligible delivery services and takeout 3X points on online grocery purchases 3X points on select streaming services 2X points on travel purchases and 1X point on all other purchases. And there are no caps on the amount of rewards you can earn.

For that annual fee, you get up to $300 each account anniversary year in statement credit to cover airline and hotel charges . Cardholders also enjoy free airport lounge access at more than 1,000 lounges worldwide.

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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 2 miles per dollar on all purchases, and 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. Read our review.

Chase Credit Cards With No Foreign Transaction Fee

Does Chase Freedom Credit Card Charge Foreign Transaction ...
  • Chase sent out an email blast today on both consumer and business credit cards indicating that beginning in April they’ll broaden the cash advance category to include many ‘cash-like transactions’. These transactions would incur a cash advance fee, and won’t earn credit card rewards
  • Chase Freedom Flex cons. Foreign transaction fee. The Chase Freedom Flex has a foreign transaction fee of 3% of each transaction in U.S. dollars. If you need to travel outside the United States, tuck this card safely away at home and take a card that charges no foreign transaction fees instead. Bonus categories require activation
  • The card has an annual fee of $95 but has no foreign transaction fee. It also has a variable APR of 15.99% to 22.99%. SHOULD YOU RENEW YOUR TRAVEL CREDIT CARD FOR 2021
  • CHASE FREEDOM UNLIMITED& REG FOREIGN TRANSACTION FEE AND OTHER DRAWBACKS. The Chase Freedom Unlimited® credit card is a solid choice for anyone looking for cash back rewards. However, it’s not perfect. One of the biggest drawbacks of the card is its foreign transaction fee
  • However, you would end up paying $30 in foreign transaction fees to earn those rewards. In this case, it’s clearly not worth it since the fees exceed the value of the rewards. Paying the 3% foreign transaction fee in order to earn rewards through the Chase Freedom Unlimited isn’t a good way to go
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    Notable Chase Cards That Have Foreign Transaction Fees

    There are a few big ticket Chase cards that do have foreign transaction fees. Here are a few of the most well known.

    0% Travel card

    The Sapphire Preferred and Sapphire Reserve are both excellent travel cards, able to earn in far more categories than your average flat rate and category travel card respectively. But more importantly, both cards play a crucial role in the valuable Chase trifecta earning strategy since both cards technically earn Chase Ultimate Rewards points.

    Chase Freedom Unlimited Vs Other Chase Cards

    • Chase Freedom Unlimited vs. Chase Freedom Flex

    Both Freedom cards from Chase offer alluring cashback benefits and cost nothing to own. The differentiating factor between the two Chase cards is the rate of cashback.

    Effectively, you will either pick the 1.5% cashback on all purchases with the Chase Freedom Unlimited or opt for 5% cashback on categories that rotate quarterly and 1% on other purchases with the Chase Freedom Flex.

    Lets get some more clarity so you can crunch the numbers before making a decision:

    • Chase Freedom Flex: The 5% cashback seems enticing at first, but you may want to consider that this rate reverts to 1% after you have spent $1,500 in a quarter.
    • Chase Freedom Unlimited: The much lower 1.5% cashback on all purchases may look like a raw deal, but it offers flexibility.

    So, which one should you choose?

    Take a few moments to familiarize yourself with the bonus categories that Freedom Flex offers. If your spending pattern aligns with these categories, you may be better off with the Freedom Flex.

    If you tend to spend a lot in general, however, the unlimited 1.5% cashback on Freedom Unlimited will offer more value.

    • Chase Freedom Unlimited vs. Chase Sapphire Preferred

    Both these cards serve different categories of cardholders, so there is not a lot they have in common. The only perk both cards share is protection against damage and an extended warranty.

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    Citi does not guarantee the accuracy of these reviews. Benefits, fees, terms, and offers mentioned in reviews may change over time.

    Citi does not guarantee the accuracy of these reviews. Benefits, fees, terms, and offers mentioned in reviews may change over time.

    Citi does not guarantee the accuracy of these reviews. Benefits, fees, terms, and offers mentioned in reviews may change over time.

    Citi does not guarantee the accuracy of these reviews. Benefits, fees, terms, and offers mentioned in reviews may change over time.

    Citi does not guarantee the accuracy of these reviews. Benefits, fees, terms, and offers mentioned in reviews may change over time.

    Citi does not guarantee the accuracy of these reviews. Benefits, fees, terms, and offers mentioned in reviews may change over time.

    Citi does not guarantee the accuracy of these reviews. Benefits, fees, terms, and offers mentioned in reviews may change over time.

    Citi does not guarantee the accuracy of these reviews. Benefits, fees, terms, and offers mentioned in reviews may change over time.

    Citi does not guarantee the accuracy of these reviews. Benefits, fees, terms, and offers mentioned in reviews may change over time.

    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 and a fee charged by your credit card company.

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    Chase International Atm Fees

    Below are the fees for foreign ATM transations with Chase Total Checking Accounts.³

    Transaction type
    Depending on foreign ATM used

    How to avoid this pesky fee?

    One way could be by signing up for the Wise multi-currency debit card, which is now launched in the US. You wont only escape the foreign transaction fee, but also receive the mid-market rate on all conversions.

    Another amazing feature is the Wise borderless account itself, where youre able to get your own details for the UK, Eurozone, Australia and New Zealand, and more to pay and get paid like a local. Incredible convenience for both travellers and digital nomads.

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