Home Trust Preferred Visa*
Home Trust offers one of the only credit cards that has no foreign transaction fees whatsoever. Its a no-annual-fee card, plus you get a simple 1% cash back with no limits on how much you earn. Previously, there were no restrictions on where you can earn, but now you only receive cash back on domestic purchases. However, compared to other cards, the simplicity of Home Trust Preferred Visa is attractive.
As there are no annual fees, the card is pretty lean on extra coverage, but cardholders do receive roadside assistance at no additional charge.
- Annual fee:$0;
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Best No Foreign Transaction Fee Credit Cards For Bad Credit/limited Credit
Why We Like It: This is a no annual fee card designed for people working on their credit score but people with lower credit scores travel abroad too! For these people, it’s good to have options that will help to save money on fees.
The Bonus and Rewards: There are no true rewards or bonus offered with this card; however, cardholders can get access to a higher credit line in as little as six months, with no additional deposit needed. Unlike a prepaid card, the Capital One Platinum Secured Credit Card helps cardholders build credit when used responsibly since the issuer does regularly report your usage to the three major credit bureaus.
Annual Fee:$0
Security Deposit: In order to establish your initial line of credit, you need to make a $49, $99 or $200 security deposit . The amount is fully refundable when you close your account or graduate to a non-secured card, assuming your account is in good standing.
Limited, Bad
PROS:
- You may not have to shell out $200 of your own money to get the $200 credit limit. You may get it by paying $49 or $99, based on your credit history. And the money is refundable.
- No annual fee. Being a secured credit card, you’d hope not, right? But some secured credit cards have them.
- You can set your own due date. That is, you can set your monthly due date, an excellent feature that should help you manage your cash flow.
CONS:
| Likelihood of Continuing to Use | 8.6 |
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The Platinum Card From American Express: Best For Lounge Access
Why we picked it: With the Platinum Card in your wallet, youll enjoy access to the Global Lounge Collection, which Amex says is the only card airport lounge access program that includes proprietary locations around the world. The high-end card also offers flexibility while traveling, with 5X points on flights booked directly with airlines or with American Express Travel and 5X points on prepaid hotels booked with American Express Travel. This option also features unlimited points that wont expire, a welcome offer of 100,000 points after a $6,000 spend within the first six months and no foreign transaction fees .
Pros: For those able to meet the spend threshold, the welcome offer is a whopper. Plus, points never expire and there are no caps on earning them. Travelers will also appreciate the range of travel partners, including Delta Air Lines.
Cons: The Platinum Card does not come cheap bringing along a $695 annual fee but does its best to directly make up for it with up to a $100 fee credit for Global Entry/TSA PreCheck, and Uber and hotel credits .
Who should apply: Those willing to shell out the $695 annual fee will certainly get their moneys worth in top-notch travel perks including lounge access, Hilton Honors gold status, and a number of handy travel protections. If youre constantly on the go, these benefits can be enormously useful.
Read our review of The Platinum Card® from American Express or jump back to this cards offer details.
Which Chase Cards Have No Foreign Transaction Fees
Heres the full list of Chase cards with no foreign transaction fees as of August 18, 2020:
- Chase Sapphire Preferred® Card
- Southwest Rapid Rewards® Priority Credit Card
- Southwest Rapid Rewards® Premier Credit Card
- United Club Infinite Card
- British Airways Visa Signature® Card
- Aer Lingus Visa Signature® Credit Card
- Iberia Visa Signature® card
- World of Hyatt Credit Card
- IHG® Rewards Club Premier Credit Card
- Amazon Prime Rewards Visa Signature Card
- Ink Business Preferred® Credit Card
- United Business Card
- Southwest Rapid Rewards® Performance Business Credit Card
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Which Is The Right One For You
We know that there are different reasons that someone might need a credit card with no foreign transaction fees, so we’ve selected these products with several use cases in mind.
For example, if you go overseas multiple times per year, you might consider a card that rewards you for travel-related expenses . Whether you’re traveling for work or leisure, these credit cards allow you to earn extra points on flights, hotels, and car rentals, which you can ultimately redeem for future travel purchases. They’ll usually come with high annual fees, but you can typically offset the costs if you use your card in the right way.
On the other hand, you might not travel abroad regularly, but you still want a card with no foreign transaction charges. Maybe you’re saving up for an international trip in the future, or you buy from overseas retailers. In either case, you’ll probably want to look for a card with no annual fee that still rewards you for spending .
World Of Hyatt Credit Card
4X Bonus Points on Hyatt Purchases
Apply Now
Hyatt doesnt have quite as many properties in its World of Hyatt program as does Marriott in Bonvoy, but the World of Hyatt Credit Card is nevertheless a great deal for frequent globe-trotters.
The World of Hyatt Credit Cards generous sign-up bonus complements a solid rewards program that rewards spending at participating Hyatt properties, as well as restaurants, purchases made directly with airlines, and purchases of local transit and commuting services.
For heavy spenders, its free night allowance is even more generous than Bonvoy Boundlesss. And it confers complimentary Discoverist status in the World of Hyatt loyalty program, with benefits including a 10% bonus on base points earned on paid Hyatt stays and complimentary room upgrades where available.
For all that, the $95 annual fee is a small price to pay.
Read our World of Hyatt Credit Card review for more information. Learn more about this card and find out how to apply here.
Apply Now
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Pros And Cons Of Using A Credit Card Overseas
There are many ways to take money with you on holiday, including credit cards. Its generally a smart idea to have at least a couple of different payment options to hand when youre abroad perhaps a mixture of cash and one or two payment cards. To help you decide how much you want to lean on a credit card, here are some of the key pros and cons.
Pros
- Global acceptance. If youre using a Mastercard or Visa credit card, youll be able to use your credit card in millions of locations around the world. American Express and Diners Club cards are also accepted worldwide, though in fewer places than Visa or Mastercard.
- Other perks. Credit cards designed for overseas use can come with travel-related benefits such as a 0% purchases deal to help spread the cost of your holiday, frequent flyer rewards programs, complimentary insurance or airline lounge passes.
- Security. When youre travelling overseas, its wise to have more than one way to access your cash. Even if you have a prepaid card or debit card organised for everyday spending, a credit card can be used as a backup and the security of credit could come in handy in an emergency. Most cards also now come with an app that you can use to freeze and unfreeze your card if it goes AWOL .
- Financial flexibility. Ultimately, credit cards give you credit whether thats just to act as a buffer until the end of the month or to spread costs over several months.
Cons
Other Purchase And Return Considerations
Another benefit of using your credit card abroad is the extra purchase protection it can offer. If you need to dispute a charge on your credit card, first contact the merchant to see what options may be available. If that doesnt work, contact your credit card company to see if they can help you dispute the charge.
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Budget For Foreign Currency Fees
Foreign currency exchange rates are subject to transaction fees. Your credit card company will likely charge you a small transaction fee for each purchase you make. These charges can vary across companies and even cards. Youll want to read your card fee and rate disclosure statement, which comes with your cardholder welcome package, before you leave for your trip. This way, youll know what sort of charges youll have to pay. Its common for a credit card company to charge between 1% and 3% of the purchase price.
The Best Credit Card With No Foreign Transaction Fees In Canada
The Scotiabank Passport Visa Infinite Card is the best credit card with no foreign transaction fees in Canada. But it’s also a great credit card for any travel lover, featuring 6 free airport lounge visits, rental car and emergency medical insurance included, and 30,000 bonus Scotia Rewards points worth up to $300 after hitting the minimum spend. It has an annual fee of $139/year, but this is more than made up for with the welcome bonus.
You also earn 2x points on purchases at grocery stores, dining, entertainment, and daily transit. These categories are very broad, so a huge chunk of your purchases will be eligible for 2x points. Learn how to apply on the Scotiabank website.
Not from Canada? Check your country below to see what’s best for you!
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Tips For Using Credit Cards Abroad
;Travelling abroad with a credit card definitely makes managing your money a little easier, but there are a few things to keep in mind on top of just having a credit card with no foreign transaction fees.
Here are a few tips:
- To get the best rates, make sure that you always choose the local currency over Canadian currency. Your card offers better exchange rates than the vender will.
- Change your pin to 4 digits. Some of the older machines wont accept cards that have longer pin numbers.
- Notify your credit card provider that you are travelling. Some companies dont require this but others, including the Home Trust Preferred Visa, request that you notify them of your travel plans.
- Have a back-up credit card, just in case.
Hotelscom Rewards Visa Credit Card: Best For Hotel Stays
Annual fee: $0;;
Sign-up bonus: New cardholders will earn two hotel reward nights worth $250 total after spending $1,000 on purchases in the first three months of account opening.
Bonus rewards: Collect one stamp for every night you stay at any eligible property booked on Hotels.com and collect one stamp each time you spend $500 on purchases with your card.
Why we like it: If you travel frequently but are brand-agnostic when it comes to hotels, youll want The Hotels.com Credit Card that rewards you for your travel habits. Theres no annual fee or foreign transaction fees, plus youll get hotel perks across multiple hotel properties and brands. Youll enjoy Silver membership in the first year of card ownership, which gets you perks such as free breakfast and airport transfers. Best of all, youll earn rewards through a buy 10, get 1 stamp system.
Annual fee: $695
Welcome offer: 100,000 points after you spend $6,000 on purchases in the first six months of card membership . Plus, earn 10x points on eligible purchases on the card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during the first six months of card membership.
Bonus rewards:;5x on flights booked directly with airlines and flights and 5x on prepaid hotels booked with American Express Travel.
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Scotiabank Gold American Express*
The Scotiabank Gold American Express is a very competitive option, especially if youre a snowbird who travels frequently to the U.S. Its points accumulation structure is similar to that of the American Express Cobalt Card, with 5 points per $1 earned on dining, groceries and entertainment purchases in Canada. Plus, of course, it;comes with no foreign transaction fees.
Redemptions can be made on travel at 1 point per $0.01or 1%. At a $120 annual fee, the card offers robust traveller and purchase protection, too.
- Annual fee: $120
- Welcome bonus: You can earn up to 50,000 points by spending $1,000 in everyday purchases in the first 3 months. You can also earn an additional 20,000 points when you spend $7,500 in everyday purchases in your first year. Apply by November 21 2021.
- Foreign transaction handling: No fees charged
- Rewards earn rate: 5 points per $1 spent on dining, groceries and entertainment-related purchases in Canada; 3 points per $1 spent on gas, daily transit and select streaming services in Canada; 1 point per $1 spent on everything else
- Income requirement: At least $12,000 per individual
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.
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The Platinum Card From American Express
Complimentary Airport Lounge Access at 1,000+ Locations Worldwide; $200 Annual Air Travel Credit
Learn More
The Platinum Card® from American Express is another ultra-exclusive travel rewards credit card. Its rewards program isnt the most generous around: 5 Membership Rewards points per $1 spent on prepaid airfare and travel bookings made through the Amex Travel portal and 1 Membership Reward point per $1 spent on most other purchases.
But the rewards program is not the main event here.
This cards real firepower comes in its considerable fringe benefits: complimentary airport lounge access at more than 1,000 locations worldwide , a $200 annual air travel credit , and up to $200 in Uber credits annually , to name a few.
Take full advantage of these benefits and youll more than offset the admittedly hefty $695 annual fee.
When it does come time to redeem Membership Rewards points earned with this American Express card, you can avail yourself of cash, gift cards, travel, merchandise, Uber credits, and other items through the Membership Rewards portal.
Read our American Express Platinum Card review for more information. Learn more about this card and find out how to apply for this card here.
Learn More
Best No Foreign Transaction Fee Card For Airport Lounge Access
Why We Like It: As a premier luxury card, this card comes loaded with benefits. It offers airport lounge access, a travel concierge service, elite status with partnering hotel brands Marriott and Hilton, up to $200 a year in statement credits to cover incidental airline charges, like baggage fees and in-flight refreshments, charged on the card with a pre-selected airline, and more.;All that comes at a cost in the form of a higher annual fee but for the frequent traveler, the benefits might be worth the price.;Enrollment required for select benefits.;
The Bonus: Earn 100,000 Membership Rewards® points when you spend $6,000 within the first six months of opening your account.
The Rewards: Earn five points per $1 spent on flights booked directly with airlines or through American Express Travel as well as five points per $1 spent on prepaid hotels booked through amextravel.com. Plus, earn 10x points on eligible purchases on your new card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases during your first six months of card membership. All other eligible purchases earn one point per $1 spent.;
Annual Fee:$695
Good, Excellent
PROS:
CONS:
- You will pay for all of the lovely perks that come with this; card. The annual fee is $695.
- We always have to remind readers of this: American Express cards have more limited acceptance, especially overseas. That network is always growing, but you do need to keep it in mind.
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