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The best option for a traveler is to opt for credit cards that charge no foreign transaction or exchange fee. This is because many credit cards charge an extra foreign fee for any purchase made in a different currency/country. The fee can prove to be hefty on most travelers' pockets.
This can help you save a ton of cash to spend on other traveling expenses like shopping, hotel accommodations, car rentals, etc. There are a few credit card issuers that have completely waivered the foreign transaction fee from all cards.
However, some cards especially provide that benefit, and some issuers do not felicitate with this offer. Here is a list of the 5 best credit cards that charge no extra foreign exchange fee and can help you save while enjoying maximum benefits:
5 Best No Foreign Transaction Fee Credit Cards of 2021 & Other Benefits
Cash Sapphire Preferred Card:
The annual fee increases to $95, and there is no foreign fee charged on any transaction. Cash Sapphire offers 2x reward points on dining, takeout, delivery services, travel, and 1x points for other purchases.
Moreover, they give a membership bonus of 6000 points because the user spends $4000 within the first 3 months of account approval on purchases. Other than that, avail 0 delivery charges, reduced service charges for orders over $12 with Cash Sapphire Preferred Card through subscriptions of DashPass, etc.
Capital One Quicksilver Cash Rewards Credit Card:
Everyday users can earn 1.5% cashback on each purchase made with Capital One Quicksilver Card. They also offer a $200 introductory cash bonus to all their valued customers if they make purchases worth $500 within the first 3 months.
There is no earning limit, and the points do not expire unless the card is permanently closed. Furthermore, no annual fees or foreign exchange fee is charged on any transactions.
Capital One Venture Reward Card:
Capital One Venture Reward card is the ultimate choice for traveling. There is no foreign transaction or annual fee, and like the quicksilver card, a bonus of 2,000 (equal to $200 in travel) miles is given to all new users on purchases of $500 within the first three months.
With this card, you can travel anywhere at any time and stay at any hotel of your choice. Besides, for each purchase, 1.25x miles are rewarded each day.
The American Express Gold Card:
A bonus of 6000 reward points is given to each new member on purchases worth $4000 within the first six months, starting from the date the card is issued and the account is approved.
The American Express Gold Card is perfect for dining and takeout services. You can earn about $10 each month for dining or takeout, as well as for Uber Eats purchases when the Gold Card is used, which adds up to a saving of $120 annually.
Furthermore, one can earn 4x points on restaurants worldwide and 3x on a flight booked through airlines or amextravel.com. Their annual fee is $250, which is reasonable considering the benefits they provide.
Cash Sapphire Reserve Card:
Cash Sapphire Reserved Card charges a fee of $550 annually, and no foreign exchange fee is charged. Through Reserved Card, you can earn 50,000 bonus points on purchases within the first 3 months worth $4000.
After earning the travel credit, 3x points can be earned on travel, dining, delivery services, and takeout. Another added perk is that you can access airline lounges worldwide through one-time enrollment in their Priority Pass.