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What Credit Card Has the Lowest Bank Fees for International Purchases?
Posted by Tasha Lockyer
Q: What credit card has the lowest bank fees for international purchases?
A: Several of the Capital One® credit cards reviewed on NextAdvisor have no foreign transaction fees, but our favorites are shown below. No foreign transaction fees means you won't pay an additional fee for making international purchases. Foreign purchases will be converted at the foreign exchange rate in effect at the time of processing the charge.
No foreign transaction fees
Our #1 rated travel card is the Capital One® VentureSM Rewards Card. Cardholders earn 2 miles per dollar on every purchase and 10,000 bonus miles after spending $1,000 within the first 3 month (equal to $100 in travel). There is an annual fee of $59, but it is waived the first year of card ownership. Users can redeem their travel rewards travel anyway they want—from any travel site, agent or airline. Once they've earned points they can be redeemed for travel, cash, gift cards, brand-name merchandise, and more. Add all this together with no foreign transaction fees and you've got an excellent choice for a travel credit card.
No foreign transaction fees
Our #1 rated cash back credit card is the Capital One® Cash Rewards – $100 Cash Back Bonus. Users will earn 1% cash back on all purchases, plus an additional 50% bonus on the cash back earned every year. This bonus nets cardholders 50% of the cash back they earn each year, making the effective cash back rate equal to a whopping 1.5%. Cardholders will also receive a $100 Bonus after spending $500 in the first 3 months. Overall, this is an superb cash back credit card and it also features no foreign transaction fees and no annual fee.
4 Responses to “What Credit Card Has the Lowest Bank Fees for International Purchases?”
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June 15th, 2012 at 7:12 pm
Friends who have 1 of the Capital One cards say that they require an inordinate number of points to redeem for an airline ticket, more points than other cards. Can you comment? Thanks.
June 20th, 2012 at 9:32 am
We've found in our research that the Capital One Venture Rewards cards offers the most bang for your buck. Take a look at our recent Travel Rewards Credit Cards and you'll see that the Venture Rewards cards was rated #1, providing a $2.00 flight and hotel redemption value for every $100 spent. You can also take a look at other top-ranked travel credit card options.
June 25th, 2012 at 5:24 pm
There are not enough incentives in the world to ever get me to carry another Capital One credit card. They assist off-shore "pill factories" with placing fradulent charges on your card, remove the charges when you protest and file all of their paperwork and then add the charges back the next month. I fought them for almost two years until I got to the point when I told them to sue me and ignored their statements.
June 26th, 2012 at 9:23 am
Ade, I can't respond to what your friends have experienced, but during our research for the Travel Reward Credit Card Analysis we did not see this issue. In fact, we found that their clear-cut policy of earning 2 miles per every dollar spent and then being able to spend those points on whatever travel you want was more favorable than other travel credit cards. It's easy to do the math – for a $600 ticket on any airline you need 6,000 Capital One Rewards points. Basically you just add 2 zeros to the cost of the ticket (or hotel room or car rental, etc) to get the number of miles you need. And since you're earning 2 miles for every dollar you spend the earnings add up fairly quickly.