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The Best Credit Cards With No Foreign Transaction Fees of June 2023

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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. Luckily, plenty of the best credit cards don't charge pesky foreign transaction fees. 

Below, you'll find some of our favorite rewards credit cards without foreign transaction fees, with an emphasis on travel rewards credit cards that offer bonus points and miles for airfare, hotels, and more.

Compare Credit Cards With No Foreign Transaction Fees

Best Credit Cards With No Foreign Transaction Fee

Methodology: How We Chose 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 of 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.

You can learn more about how we rate credit cards at Insider. 

Credit Card With No Foreign Transaction Fees Frequently Asked Questions

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 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 to pay with a credit card that doesn't charge foreign transaction fees just to be safe.

Should I pay in local currency or US dollars with my credit card when traveling?

Some merchants may offer the option to pay in local currency or your home currency when you use your credit card for a purchase. You should always pay in local currency because merchants can give a conversion rate much lower than the market exchange rate. Therefore, local currency rates will be closer to the actual market rate.

Plus, if you pay in US dollars, you'll typically be charged an additional fee (usually around 3%) from Dynamic Currency Conversion (DCC), which is an unaffiliated third-party service that converts transactions to your home currency. 

Best Travel Card With an Annual Fee Under $100

Chase Sapphire Preferred® Card - Product Name Only

One of the most popular and recommended travel rewards credit cards, the Chase Sapphire Preferred® Card offers 5 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, rideshare services like Uber, subways, and more. Right now, the Chase Sapphire Preferred® Card offers a welcome bonus of 60,000 points.

The Chase Sapphire Preferred® Card 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 purchase protection and travel coverage, including primary car rental insurance and trip delay insurance.

Chase Sapphire Preferred Card Review

Best Premium Travel Card

Chase Sapphire Reserve® - Product Name Only

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

You get a $300 travel 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 Chase Sapphire Reserve® offers a welcome bonus of Chase Sapphire Reserve®.

Reserve cardholders can now activate a complimentary two-year Lyft Pink All Access membership (value of $199 per year) for discount pricing, priority pickup, unlimited rides, and more. And with the card, you can access the new Chase Sapphire Terrace at Austin Airport (AUS).

As with the Chase Sapphire Preferred® Card, the Chase Sapphire Reserve® got a refresh, with improved or new bonus categories and benefits like access to the new Chase Sapphire Lounges at Hong Kong airport (HKG) and Boston (BOS), with more locations to come. As a Visa Infinite card, it offers top-notch travel insurance and purchase protection as well.

Chase Sapphire Reserve Credit Card Review

Best With No Annual Fee

Discover it® Cash Back - Product Name Only

The Discover it® Cash Back earn 5% cash back on up to $1,500 spent each quarter in bonus categories once activated (then 1%) Discover It Cashback rotation. 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 released the second quarter (April through June) of its cash-back calendar for 2023:

  • Restaurants
  • Wholesale clubs

Discover it Cash Back Card Review

Best Premium Card With the Most Benefits

The Platinum Card® from American Express - Product Name Only

Platinum Card® from American Express is more or less the flagship premium travel card and one of the best metal credit cards, 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 $550 annual fee if even a handful of card perks fit into your normal spending habits.

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 American Express 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: 60,000 points after your spend at least $5,000 in your first 3 months of account opening.

You'll also get up to a $200 annual airline incidental 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 hotel elite status with Hilton and Marriott**, and up to $100 in Saks Fifth Avenue credits per year**.

American Express Platinum Card Review

Major Airline Credit Cards

The best airline 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 United℠ Explorer Card offers United℠ Explorer Card for a United℠ Explorer Card annual fee.

The Citi® / AAdvantage® Platinum Select® World Elite Mastercard® offers Citi® / AAdvantage® Platinum Select® World Elite Mastercard® for an annual fee of Citi® / AAdvantage® Platinum Select® World Elite Mastercard®

The Delta SkyMiles® Gold American Express Card offers Delta SkyMiles® Gold American Express Card for an annual fee of Delta SkyMiles® Gold American Express Card

Best Card With the Simplest Rewards Structure

Capital One Venture Rewards Credit Card - Product Name Only

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 the Capital One Travel Portal) — 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.

Capital One Venture Card Review

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