with the aid of these foreign transaction fee-free cards, consumers are now able to travel without the foreign transaction fee burden
Los Angeles, CA (PRWEB) July 28, 2011
Today, CreditDonkey released a list of the Best No Foreign Transaction Fee Credit Cards, aiming to help international travelers save money as the dollar remains weak over US debt concerns.
International travelers have long had to pay fees for their credit card transactions that occur outside the United States. Foreign transaction fees typically range from 2 to 3%, with 1% going to the credit card processor (Visa, MasterCard, American Express) and the other 1 to 2% going to the issuing bank. These fees can really add up, and if the cardholder hasn’t taken them into consideration, the fees will put them out of their travel budget.
“Between a foreign language and unfamiliar currency systems, there is plenty for travelers to have to consider when they make purchases,” says Charles Tran, founder of CreditDonkey.com. “The last thing they want to have to do is make calculations to determine how much extra they’ll have to pay in fees. But if they don’t think about those fees, the traveler may find themselves several hundred dollars over budget when it comes time to pay their credit card bill.”
Thankfully, with the aid of these foreign transaction fee-free cards, consumers are now able to travel without the foreign transaction fee burden, making it easier to stick to their personal and business travel budgets:
- The Business Platinum Card® — Designed for the business traveler, this American Express card not only saves the company from foreign transaction fees but also provides perks like up to $200 credit to cover airline fee incidentals and a 20% travel bonus when the cardholder redeems Membership Rewards® Pay with Points. Cardholders also receive other premium American Express benefits like complimentary access to airport club lounges, concierge service and the Business Platinum Car Rental program, making the $450 annual fee well worth the investment.
- The Platinum Card® — This American Express card is perfect for the world traveler; along with no foreign transaction fee, cardholders enjoy a complimentary companion airfare with their first qualifying international ticket, up to $200 in airline fee credits, and a 25,000 rewards point bonus for spending $1,000 within the first three months of card membership. The card comes with a $450 annual fee but cardholders also will gain access to top-of-the-line concierge service that will help make their travels easy.
- Chase Sapphire Preferred — This card is perfect for the traveler who is looking to expand their travel rewards. Not only are they escaping foreign transaction fees but they also receive great rewards benefits like a 7% annual points dividends on all points earned in the year, including those that have already been redeemed. Cardholders also receive a 50,000 points bonus when they spend $3,000 in the first 3 months of account opening, which more than pays for the $95 annual fee.
- Citi ThankYou Premier — Another great choice for personal travels, Citi’s ThankYou Premier Card has no foreign transaction fees on purchases, provides an annual complimentary domestic companion ticket, and provides points for airfare miles paid for with the card. Cardholders do have a $125 annual fee, but with ThankYou rewards points and a 50,000 points bonus after the first $2,000 in purchases within 3 months of account opening, the card pays for itself.
CreditDonkey.com is a credit card comparison site that publishes credit card research, informed opinions and related news/trends that empower American consumers to make informed credit decisions. Use CreditDonkey.com and save time and money. For more information, go to http://www.creditdonkey.com
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