These credit cards will save you some money and may reward you with other useful travel perks.
Foster City, Calif. (PRWEB) July 18, 2012
Foreign transaction fees typically run about three percent for purchases made abroad on many credit cards. Though it’s a small price to pay for convenience, those charges can add up quickly. But with more cards dropping their fees, it’s easy to dodge FTFs altogether when traveling outside the country. Today, CardRatings.com releases a list of 36 credit cards that don’t charge any foreign transaction fees.
“An American family who charges $3,000 on their credit cards while vacationing overseas might incur another $100 in foreign transaction fees,” says Ellen Cannon, editorial director at CardRatings.com. “When you’re spending that much on a vacation, a hundred bucks may not seem like much. But I think most people, regardless of how wealthy, would be annoyed about paying $100 with nothing to show for it. These credit cards will save you some money and may reward you with points or cash back.”
Sixteen of the cards that don’t charge foreign transaction fees also have no annual fee:
- Bank of America BankAmericard Travel Rewards
- Bank of America WorldPoints Travel Rewards for Business Visa
- Capital One VentureOne Rewards
- Capital One Spark Miles Select Rewards
- Capital One Cash Rewards for Newcomers
- Discover More
- Discover Open Road
- Discover Motiva
- Miles by Discover
- Discover Student More
- Discover Student Open Road
- Pentagon Federal PenFed Platinum Rewards Visa
- Pentagon Federal PenFed Premium Travel Rewards American Express
- Pentagon Federal PenFed Promise
- Pentagon Federal PenFed Platinum Cash Rewards Visa
- Pentagon Federal Visa Gold Card
Another ten of the 36 cards waive the annual fee for the first year, a savings of $39 to $450. Consumers electing to use the pricier cards in the survey may incur savings from elite perks like free checked baggage, airport lounge access and priority screening and boarding.
Many of the cards offer other features that might attract certain consumers. For European travelers, the Citi ThankYou Prestige and Chase J.P. Morgan Select are the only cards on the list that are compatible with EMV, a security technology prominent in Europe that is becoming more prevalent in the U.S.
For the full list of credit cards with no foreign transaction fees, please see CardRatings.com’s 2012 Foreign Transaction Fee Survey.
CardRatings.com is the leading comprehensive free source for comparing credit card offers and has been educating consumers on credit cards since 1998. The site regularly reports on consumer credit and debt issues and publishes editor and consumer reviews of balance transfer cards, student credit cards, gas credit cards and more. These resources allow consumers to compare and identify the credit cards best suited to their needs, get the best rates available and effectively lower their debt. The site was recently ranked the No. 1 credit card comparison site in Bing Editor's Picks. CardRatings.com is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that best meet their needs. The company is a leader in visitor-friendly marketing practices. For more information, please visit QuinStreet.com.