The best credit card without a foreign transaction fee is the Chase Sapphire Preferred card. The card is accepted at over 1.2 million locations around the world. You can get cash back rewards on many things – hotel stays, airline tickets, and lots more. You can use the points to buy merchandise at local stores or even online. The point system rewards are a great deal for people who travel a lot. In fact, there are a lot of people who do not own a car and would love to earn some extra rewards on their credit cards.
Chase Sapphire Preferred gives you one of the best cash rewards programs on the market today: 100,000 reward points (worth up to $1, 250 in cash) for new cardholders who make new purchases at least $4,500 in the first three months. They offer frequent flier miles as well as other incentive programs. All the usual things come with the card – access to your account, insurance, and even access to your bank. And you can use your credit cards with no foreign transaction fees. As you might have expected, this card also comes with an annual fee.
Before you apply for cards that offer no foreign transaction fee, you should know what these fees are. Most of them involve the processing fees – these are the hidden costs that really get buried under all the excitement and advertising. If you read through the fine print, you will find that most of these fees have to do with the APR, or Average Percentage Rate, which is usually the rate at which your purchases are processed.
One of these hidden charges is an annual fee, which is not really a penalty in many instances. In fact, it is one of the perks to having the travel card. Many credit cards offer no foreign transaction fees, but there are plenty of offers out there that require some kind of annual fee. Some of these annual fees are just downright ridiculous. Others include such things as application and maintenance fees, security fees, and redemption options. If this is something you want, then you should look elsewhere.
The other thing you want to be aware of is these credit cards with no foreign transaction fees have to have some kind of savings account. I was shocked when I learned this fact. You would think that these cards would be designed with people who travel a lot on a regular basis. After all, these cards would be ideal for people who like to make their purchases at places that accept major credit cards. You’d think that the card issuer would want to maximize its market share by making these cards available exclusively to frequent fliers.
As it turns out, the foreign transaction fee that most credit cards without foreign transactions charge is actually a “service” that is charged by the credit card issuer. It’s not a fee that is assessed based on the customer’s spending habits. In fact, these fees are often so low that most people wouldn’t even notice them. But here’s the kicker: these low fee cards carry higher interest rates than their traditional counterparts.
If you don’t want to pay the higher interest rates associated with these no foreign transaction fee cards, then you need to be aware that there are plenty of options available. In fact, you can find out how to get no annual fee credit cards with no annual fee, as well as cards with low or no annual fee. All you have to do is conduct a search on the Internet. You will find lots of resources available that show you how to get no-interest introductory offers with the lowest credit rates and lowest fees. Once you choose the card that has the lowest fees and the lowest interest rate, you’ll see rates as low as 0% as long as you make your monthly payments on time.
Now that you know this, you must be curious about which are the best credit cards with no foreign transaction fee? The best credit cards will be those with the lowest fees, lowest interest rates, and the longest terms. These will be the credit cards with no foreign fee and the ones that give you the most flexibility. Keep reading for more information.