#How to Find a Credit Card With No Foreign Transaction Fees

Foreign transaction fees can range from 2-3% of each purchase, adding up quickly when you’re making multiple transactions in different countries. However, you can get a credit card with waived foreign transaction fees. The only question is, how do you find the right credit card?

How to Find the Right No Foreign Transaction Fee Card

In this article, we’ll share how to identify the best credit cards with no foreign transaction fees so that you don’t have to worry about unexpected charges when traveling overseas. 

Step 1: Get an Unsecured Credit Card

An unsecured credit card is a kind of credit card you can get that doesn’t require collateral or “security.” On the other hand, a secured credit card requires that you put some money down.

The reason why you’ll want an unsecured credit card is because they typically come with better benefits. Since a credit check is required for an unsecured card, credit card companies know if you pay off your balance reliably. For this reason, banks are more generous with their offerings.

With that said, the best unsecured credit cards go to customers that spend the most. Still, even customers who spend modestly are going to cash in on some high-quality card rewards.

Step 2: Understand Why You’re Getting a Credit Card

It’s clear that you want a credit card because you don’t want to pay foreign transaction fees, but that’s a perk. While a zero-foreign transaction fee perk makes the most sense when paired with other travel rewards, such as free hotels or upgrades, you can get this perk on other card types.

Here are the four main types of credit cards and what they’re for:

• Improved Credit Score Card: These cards are used to improve your credit score. Most of these credit cards are secured, but you can also find student credit cards.
• Earned Rewards Credit Card: Whether you’re looking for cash-back rewards or travel rewards, an earned rewards credit card is perfect if you want to earn as you spend.
• 0% Interest Credit Card: If you’re looking to pay off debt over time without incurring interest, get a 0% annual percentage rate (APR) card, but check the terms length.
• Save Money on Debit Card: This card is similar to the 0% interest card, except the 0% APR only applies to purchases you transfer onto the card, not on direct purchases.

Before selecting a card, make sure it’s designed to support your needs. Remember, you’re looking for a no foreign transaction fees perk, so be sure to prioritize that over other benefits.

Step 3: Check Out the Benefits of Potential Credit Cards

Once you choose your card, you’ll need to choose the benefits that matter most to you. We’ll assume that all of the following card types include the no foreign transaction fee as a perk.

Improved Credit Score Card

The best types of improved credit score cards will include the following benefits:

• No Annual Fee: a 0% annual fee will cut down on what you have to pay.
• Credit Bureau Reporting: This card should report to all three credit bureaus.
• Free Credit Score Monitoring: This can help you stay on top of your credit.

If the credit card is secured, check if it can graduate to an unsecured option after a year.

Earned Rewards Credit Card

The best types of earned rewards credit cards will include the following benefits:

• High Reward Rate: Look for a flat rate to earn rewards on everything.
• Sign-Up Bonus: A high sign-up bonus can get you more rewards faster.
• Low Annual Fee: A low annual fee can save you money as you earn rewards.

For travel-focused people, make sure you get a travel rewards card in this category.

0% APR or Transfer Credit Cards

The best types of 0% APR or transfer credit cards will include the following benefits:

• A Long 0% APR Period: Longer 0% APR periods mean less interest incurred.
• A 0% APR Transfer: Get a card that offers 0% APR on all transfers.
• Low Transfer Fees: Lower transfer fees are ideal if you want to save money.

If you’re stuck on choosing between two cards in this category, pick one with a low transfer fee.

Step 4: Compare Credit Card Options

Once you’re done shopping for cards, you can start comparing them. You can use card comparison sites to easily see the benefits of any card you’re on the fence with. If possible, try to compare credit cards based on need, such as for business trips or casual vacations.

Step 5: Apply for Your Card of Choice

Finally, you can apply for your credit card. Once you apply, you should expect your card in the mail within 7 to 10 business days. Keep in mind that you’re not granted approval. If you’re unexpectedly denied, you can call the credit company to see if they can change their decision.