The Best Points-Earning Credit Cards with No Foreign Transaction Fees

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Traveling abroad is exciting and something that most people save up for and budget extensively. Now imagine taking a trip abroad and finding out that everything costs 3-5% more than you had anticipated – way to put a damper on your post-vacation bliss. Many credit cards impose foreign transaction fees on purchases originating abroad – usually around 3%. This may not sound like much, but it adds up. On a $5,000 trip, you’re looking at an extra $150 – now imagine the ways you could’ve spent that money during your vacation rather than handing it over to your bank for allowing you to spend your own money.

Foreign transaction fees are easily avoidable if you use the right travel rewards credit card. Whether you’re booking flights, paying for meals, or shopping abroad, the right credit card can help you stretch your travel budget further by avoiding unnecessary fees.

In this guide, we’ll cover the best personal and business cards that earn points and waive foreign transaction fees. Here’s everything you need to know about these cards.

Chase Sapphire Preferred® Card

Best for: Travel rewards beginners.

The Chase Sapphire Preferred® Card is a popular starter card, thanks to its affordable annual fee, valuable perks, and versatile Chase Ultimate Rewards. It offers all the valuable travel perks you might want from a travel rewards card (i.e., travel insurance, generous earning potential, and an annual travel credit) without the steep annual fee that similar cards typically carry.

American Express® Gold Card

Best for: Foodies and frequent travelers.

The American Express® Gold Card is a great option for travelers who spend big on dining and groceries. When dining abroad, you’ll not only save on foreign transaction fees, but you’ll also earn 4X points on restaurants worldwide. It’s a great card for earning valuable Membership Rewards without the $895 annual fee that accompanies the American Express Platinum Card®.

Capital One Venture Rewards Credit Card

Best for: Simple rewards structure

The Capital One Venture Rewards Credit Card is ideal for anyone seeking straightforward rewards with no foreign transaction fees. The card earns a flat 2X rewards on virtually all purchases, and miles can be redeemed towards travel transactions or over 20 transfer partners. In addition to no foreign transaction fees, cardholders get a host of travel protections, including travel accident insurance and secondary rental car coverage.

Welcome bonus: Earn 75,000 Miles, plus a $300 Capital One Travel stays credit once you spend $4,000 on purchases within 3 months from account opening

Annual fee: $95

Earning rates:

• 2x miles on all purchases

• 5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel

Other benefits:

• $50 experience credit on Lifestyle Collection stays

• Up to $120 credit towards Global Entry or TSA PreCheck application fees

• Hertz Five Star status, and travel insurance

Citi Strata Premier® Card

Best for: Everyday spending.

The Citi Strata Premier® Card is great if you want to accrue points on everyday spending and travel. The card offers elevated rewards on common spending categories but also includes a generous annual hotel booking discount. The best part about this card is its 17 transfer partners, which include the American AAdvantage program. The only downside to the Citi Strata Premier® Card is that it doesn’t offer the same level of travel protection as competing cards.

Welcome bonus: 60,000 points after $4,000 spent within the first 3 months of account opening.

Annual fee: $95

Earning rates:

• 10x points spent on hotels, car rentals, and attractions on Citi Travel

• 3x points on airfare, hotels, restaurants, supermarkets, gas, and EV charging

• 1x points on all other purchases

Other benefits:

• $100 off on a Citi Travel hotel booking of $500 or more

The Business Platinum Card® from American Express

Best for: Business owners seeking a luxury travel card.

The Business Platinum Card® from American Express is ideal for business owners who value luxury travel perks, like lounge access. Cardholders enjoy no foreign transaction fees and access to the Membership Rewards program, allowing them to maximize their points.

Ink Business Preferred® Credit Card

Best for: Small business owners who want to earn elevated rewards on business spending.

The Ink Business Preferred® Credit Card is one of the best ways for business owners to rack up points without worrying about foreign transaction fees. The card also offers useful travel protections and access to Chase’s valuable Ultimate Rewards program.

Welcome bonus: Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening.

Annual fee: $95

Earning rates:

• Earn 3x points on the first $150,000 spent in combined purchases on shipping, advertising with social media sites, Internet, cable, and phone services

• 1x points on all other purchases

Other benefits:

• Travel protections

• Cell phone insurance

• Access to Chase transfer partners

Capital One Venture Business

Best for: Business owners who want flat-rate travel rewards with a reasonable annual fee.

The Capital One Venture Business is ideal for small business owners who want flat-rate rewards on business expenses and no foreign transaction fees, all for a low annual fee. The card earns 2X miles on everything, so there are no categories to track or earning limits to worry about.

Welcome bonus: Earn 100,000 miles once you spend $10,000 on purchases within the first 3 months from account opening

Annual fee: $95

Earning rates:

• Unlimited 5x miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Business Travel

• Unlimited 2x miles per dollar on all other purchases

Other benefits:

• Receive up to a $120 credit for Global Entry or TSA PreCheck®

• Receive an annual $50 travel credit for bookings through Capital One Business Travel

• Receive up to an annual $50 statement credit for purchases at qualifying advertising or software merchant

• Free employee cards which also earn unlimited 2x miles from their purchases

^{Advertiser Disclosure: Some links to credit cards and other products on this website will earn an affiliate commission. Compensation may affect how and where the cards appear on the site, and we do not include all card companies and all available card offers. Opinions, reviews, analyses, and recommendations have not been reviewed, endorsed, or approved by any of these affiliate entities. point.me has partnered with CardRatings for our coverage of credit card products. point.me and CardRatings may receive a commission from card issuers when a customer clicks on a link, when an application is approved, or when an account is opened.}

^{The American Express® Gold Card see rates and fees, terms apply. The Business Platinum Card® from American Express see rates and fees; terms apply.}