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There\u2019s very little that we dislike more here at TPG than unnecessary fees \u2014 including foreign transaction fees.<\/p>\n
You may have noticed that when you use some credit cards abroad (or on a website not hosted in the U.S.<\/a>), an additional fee gets tacked on to each purchase.<\/p>\n Today, let’s walk through what those fees are and how you can avoid them in the future.<\/p>\n Foreign transaction fees are charged on certain cards when you make a purchase that goes through an overseas bank to process the transaction. When you make a transaction while traveling or through a foreign website, banks may have to convert the purchase into U.S. dollars. On some credit cards, issuers will then pass the conversion cost onto consumers.<\/p>\n The standard foreign transaction fee tends to be around 3%. However, Capital One and Discover are unique in having zero foreign transaction fees on all credit cards. And you can find no foreign transaction fees on personal<\/a> and business cards<\/a> from all issuers.<\/p>\n Generally, foreign transaction fees hover around 3% for most issuers. Visa and Mastercard charge a 1% fee to banks for processing purchases made abroad, and many U.S. issuers tack on an additional 1-2% fee. Capital One and Discover do not charge foreign transaction fees on any of their credit cards.<\/p>\n Most of the top travel credit cards don\u2019t charge foreign transaction fees<\/a>. In fact, it\u2019s rare for a card that offers travel rewards and perks to charge any foreign transaction fees. While most issuers charge foreign transaction fees of around 3% on at least some of their products, Capital One and Discover do not charge foreign transaction fees on any of their credit cards.<\/p>\n Card issuers are required to give potential and existing customers access to rates and fees associated with a credit card, including foreign transaction fees<\/a>. Check the terms and conditions of your credit card to see whether or not your card (or the card you\u2019re considering applying for) charges foreign transaction fees.<\/p>\nWhat Is a foreign transaction fee?<\/h2>\n
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\n Card issuer<\/strong><\/th>\n Standard foreign transaction fee<\/strong><\/th>\n<\/tr>\n<\/thead>\n\n \n American Express foreign transaction fee.<\/td>\n 2.7%.<\/td>\n<\/tr>\n \n Bank of America foreign transaction fee.<\/td>\n 3%.<\/td>\n<\/tr>\n \n Barclays foreign transaction fee.<\/td>\n 2.99%.<\/td>\n<\/tr>\n \n Capital One foreign transaction fee.<\/td>\n None.<\/td>\n<\/tr>\n \n Chase foreign transaction fee.<\/td>\n 3%.<\/td>\n<\/tr>\n \n Citi foreign transaction fee.<\/td>\n 3%.<\/td>\n<\/tr>\n \n Discover foreign transaction fee.<\/td>\n None.<\/td>\n<\/tr>\n \n U.S. Bank foreign transaction fee.<\/td>\n 3% for different currencies; 2% for US$ transactions.<\/td>\n<\/tr>\n \n Wells Fargo foreign transaction fee.<\/td>\n 3%.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n How much are foreign transaction fees?<\/h2>\n
Which cards have no foreign transaction fees?<\/h2>\n