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No annual fee credit cards with no foreign transaction fees

If you enjoy online shopping or if you’re going overseas, compare and save with no foreign transaction fees and no annual fees.

If you're shopping online or travelling overseas, credit cards typically charge fees of 2% to 3% when making a transaction in a foreign currency. Designed for international purchases, some credit cards waive this foreign transaction fee. If you want to cut your credit card costs even further, use this guide to compare credit cards that have $0 foreign transaction fees and no annual fees.

Compare no foreign transaction fee credit cards with $0 annual fee

Rates last updated September 23rd, 2017
Name Product Foreign Currency Conversion Fee (MC) Foreign Currency Conversion Fee (VISA) Overseas ATM Withdrawal Fee Overseas Cash Advance Fee Annual fee Product Description
28 Degrees Platinum Mastercard
0% of transaction value
$0
3% of the cash advance or $4 (whichever is greater)
$0 p.a.
Receive up to 55 days interest-free on purchases and access to a 24/7 concierge service.

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How to compare credit cards with no annual fee or foreign transaction fee

While these cards can help you cut down some of your credit card costs, there are a few other fees and features that you can compare to find the right card for you:

  • Annual fee. Does the card offer $0 annual fee for the life of the card or for a promotional period such as the first year? Make sure you confirm the details of the annual fee before you apply.
  • Purchase rate. If you're using your card to make purchases overseas, it's important to compare the interest rates you'll attract if you don't pay your account in full. If you do regularly clear your balance each statement period, you could also compare cards by the available interest-free days offers.
  • ATM withdrawal fees. If you use your card for ATM withdrawals, you may be charged a cash advance fee and cash advance interest rate. Some cards may also charge additional ATM withdrawal fees for overseas transactions.
  • Complimentary insurances. If your card is designed for overseas use, it could come with complimentary travel insurance cover. Some cards also offer purchase insurance cover and extended warranties, which could come in handy if you're a regular spender. Make sure you check the policy terms and conditions before you apply so you understand the eligibility requirements, what is covered and how to make a claim.
  • Rewards programs. If your card offers no annual fee and no foreign transaction fees, it may not come with a rewards program. However, if you spend regularly and often pay your balance in full, the value of reward points could help outweigh annual fees and currency conversion costs. Some cards even offer higher earn rates when making international transactions.
  • Global acceptance. While Visa and Mastercard are accepted in millions of locations around the world, you should ensure that your credit card isn't restricted by economic sanctions before you travel overseas.

Compare credit cards with no foreign transaction fees

How much can you save with a card with $0 annual fee and no foreign transaction fee?

If you opt for a credit card that doesn't charge either a foreign transaction fee or an annual fee, you could significantly reduce your card costs. Below, we've calculated how much you could save with a card that doesn't charge either of these fees in comparison to a card that charges no annual fee but has a foreign transaction fee of 3%. Please note that we've assumed that you repay your balance in full each month, allowing you to avoid interest costs on either card.

28 Degrees MastercardOther credit card with standard fees
Foreign transaction fee0%3%
Currency conversion fee0%3% of transaction value
Overseas ATM withdrawal Fee$0$3 per withdrawal
Amount of purchases made$3,000$3,000
Number of withdrawals made55
Total cost of using credit card overseas over 12 months$0$195

Rates and fees only used for example purposes only.

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Frequently asked questions about no annual fee credit cards with no foreign transaction fees

Competitive travel credit cards typically possess the following benefits: no foreign currency conversion fees and transaction fees, $0 overseas ATM withdrawal fees and interest-free days on purchases. However, as there is no such thing as the one best travel card, you should compare your options before you apply. To make a full comparison please see our travel money page.

To find out more about exchange rates and bank fees, please see this page about the basics of foreign exchange rates and foreign currency.

Pictures: Shutterstock

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17 Responses

  1. Default Gravatar
    VickiAugust 8, 2017

    I am after a card for my 15 year old who is travelling to the USA for school. I’m looking for no transaction or currency conversion fees and that he’s able to do a cash advance. Most providers won’t give him a card because he is not 16. I’m happy for the card to be in my name and he’s an additional card holder. Can you recommend anything suitable please?

    • Staff
      LiezlAugust 8, 2017Staff

      Hi Vicki,

      Thanks for reaching out.

      That’s right, you have to be at least 18 years to be eligible to apply for credit card. Moreover, he has to be 16 years old to be an additional cardholder. You may check our review page here for other credit card options available for those under 18. You might also find our travel money guide to USA helpful.

      Cheers,
      Liezl

  2. Default Gravatar
    SSOctober 15, 2016

    28 Degrees does charge for overseas ATM transactions everytime, from $4 minimum to $30 maximum depending on the amount withdrawn. The information on this web site is therefore incorrect. Originally they were fee free but have been charging for some years now.

    • Staff
      JasonNovember 4, 2016Staff

      Hi SS,

      Thank you for reaching out.

      The 28 Degrees Platinum MasterCard doesn’t charge currency conversion or international transaction fees and it also doesn’t have overseas ATM balance check and withdrawal fee. However it does have a cash advance fee of $4 or 3% of the cash advance (whichever is greater) and ATM withdrawals are considered as cash advance. You can check out this link for more information on the fees & repayments of 28 Degrees Platinum MasterCard.

      Cheers,
      Jason

  3. Default Gravatar
    NeilAugust 22, 2016

    Redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees

  4. Default Gravatar
    GaryNovember 11, 2015

    I am moving to Cambodia from Australia. I belong to ANZ but they charge the cash conversion rate but not the withdrawal fee. Is there a card that I can get that abolishes both conversion and withdrawal fees there. This NOT for purchases, simply ATM withdrawals only. I intend to transfer money from my bank to it on a monthly basis.
    Thanks Gary

    • Staff
      JonathanNovember 11, 2015Staff

      Hi Gary, thanks for your inquiry!

      Please see this page for credit cards with no overseas ATM withdrawal fees.

      Cheers,

      Jonathan

  5. Default Gravatar
    GaryOctober 5, 2015

    Hi

    We have a trip to Thailand organised and I am considering the 28 Degrees Platinum Mastercard as there are no currency conversion or transaction fees. Are the currency conversion rates offered at the time you make a purchase likely to be similar between all banks? Is this card recognised and accepted widely in thailand?

    Also this card does not have complimentary travel insurance but we currently have a Platinum Awards Mastercard and Amex with Commonwealth, so I am thinking of using this for the travel insurance. Just confirming my thinking is along the correct lines. Thanks Gary L

    • Staff
      SallyOctober 6, 2015Staff

      Hi Gary,

      Thanks for your questions.

      That is correct, the 28 Degrees Platinum MasterCard doesn’t charge currency conversion or international transaction fees.

      According to the 28 Degrees website, ‘The foreign exchange rate is calculated by MasterCard International on a daily basis according to daily foreign exchange fluctuations. The conversion will consist of two calculations if the transaction is made in foreign currency – it will first be converted to US dollars and then converted to Australian dollars for listing on your transactions.’

      MasterCard is widely accepted internationally, so you shouldn’t have any trouble accessing your funds in Thailand wherever MasterCard is accepted.

      That’s correct, the 28 Degrees Platinum MasterCard doesn’t offer complimentary insurance. If you already have another card that comes with complimentary insurance (and you meet the eligibility requirements), this could be an option for you. To decide which insurance cover is best for you, read the terms and conditions to understand what you’ll be covered under and the eligibility requirements you’ll need to meet.

      Please see our Thailand Travel Money Guide for further information.

      I hope this has helped.

      Thanks,

      Sally

  6. Default Gravatar
    chanJanuary 23, 2015

    If I have money in credit in my credit card and withdrawal the money in an ATM overseas, will I still be charged interest?

    • Staff
      JonathanJanuary 23, 2015Staff

      Hi Chan,

      Thanks for your inquiry!

      Depending on the credit issuer overseas ATM withdrawals can attract fees such as currency conversion fees and international ATM cash advance fees, with certain cards including interest free periods on purchases which can be taken advantage of to pay less interest.

      Was there a specific credit card issuer you were inquiring about that I can help you with?

      I hope this has helped,

      Cheers,

      Jonathan

  7. Default Gravatar
    MindyJuly 1, 2014

    Can you tell me which is the best Business Credit Card, preferably with no Annual Fee and no Foreign Transaction Fees?

    • Staff
      ShirleyJuly 1, 2014Staff

      Hi Mindy,

      Thanks for your question.

      Please compare business credit cards on this page. While some may no annual fee, its a lot harder to track down one that doesn’t charge currency conversion fees.

      Cheers,
      Shirley

  8. Default Gravatar
    MellingtonsJune 5, 2014

    Hi
    I was wondering what would be the best way to use my money overseas. My partner and I are getting married in Ireland later this year so we will need to bring money to pay for the wedding.

    Since we will be bring more than the average holiday money I was looking for some advice with the best options.

    1. Exchange the currency into cash
    2. Transfer into an Irish bank account
    3. Get 3 or 4 currency card
    4. Use a credit card and cash

    Thanks for your help

    Mellingtons

  9. Default Gravatar
    StevMarch 1, 2014

    With the change of the 28 degree cash advance fee; any other suggestions for a fee free credit card with no cash advance fee for a credit card with positive credit ?

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