Traveling overseas? Credit cards can be invaluable. With the right card in hand, they can help save you money and provide rewards.
Some cards do not charge foreign transaction fees (typically around 3%) while others provide rewards like dining, grocery and gas rewards. Plus, certain cards provide valuable travel protections like trip cancellation insurance, lost luggage coverage and rental car collision damage waivers.
No Foreign Transaction Fees
An essential for anyone traveling or spending in foreign currencies, credit cards that don’t charge foreign transaction fees (often between 1-3% of each purchase, also called currency conversion fees) are invaluable when traveling abroad. Luckily, many credit cards offer rewards like cash back, airline miles and hotel points to offset these charges; and others even provide valuable protection such as zero fraud liability coverage or purchase protection to help ease travel expenses abroad.
Make the most of your no foreign transaction fee card by shopping around for an offer that best meets your spending habits and desired perks. Many cards with no FTE come equipped with extra benefits such as airport lounge access or TSA PreCheck credit that can reduce travel costs even further while making each trip even more worthwhile. Also consider getting an alternative credit card without foreign transaction rates in case your primary one gets lost or stolen – or acquire one just in case!
Rewards
Finding a credit card designed for international travel can save both money and hassle. Consider cards with no foreign transaction fees, an attractive earnings rate and travel protection features to maximize savings during your journey.
Numerous cards provide travel rewards, but the one best suited to you will depend on your spending habits and goals. Look for cards offering bonus points in popular categories like dining, grocery, and gas to maximize value and maximize rewards.
Capital One Venture Rewards Card (rates & fees) earns 2x miles on all purchases and provides bonus points in popular spending categories like airfare, hotels and restaurant meals. Additionally, it features a welcome offer and several travel benefits such as coverage for trip cancellations, lost luggage and rental car damage as well as no foreign transaction fees and zero fraud liability; it even comes equipped with Mastercard ID theft protection and 24/7 worldwide assistance! Check out our full review to gain further insights.
Travel Protections
Travel credit cards typically provide travelers with several valuable travel protections such as trip cancellation insurance and secondary rental car coverage. As these benefits may differ depending on which card issuer issues the card, it’s advisable to familiarise yourself with each card’s travel insurance details so that you know exactly what coverages exist for that specific card issuer.
Credit cards that offer elite status perks with airline and hotel brands may include airport lounge access, room upgrades or dining/shopping credits; some cards may even provide credit towards Global Entry/TSA PreCheck membership fees.
Chase Sapphire Preferred(r) Card provides an impressive portfolio of premium travel card benefits and travel protections at an accessible $95 annual fee. Reward rates up to 5 points per dollar when purchasing travel via Ultimate Rewards travel portal and 2 points elsewhere; travel assistance services; as well as trip cancellation/interruption coverage can all be found with this card.
International Acceptance
Traveling overseas? A credit card can make things simpler by accepting more widely. They’re widely accepted around the globe and can save on currency conversion and ATM withdrawal fees.
Travel-focused credit cards may also provide protections, rewards and other perks such as TSA Precheck and Global Entry credit card application fee credits. Furthermore, some cards allow users to lock in a fixed exchange rate that helps mitigate volatility when it comes to currency fluctuations.
Though credit cards provide convenience and peace of mind when travelling abroad, some travelers prefer debit cards as they’re more widely accepted. Consider the Chime Visa Debit Card which charges no foreign transaction fees and reimburses any ATM fees incurred while abroad1.1
