No annual fee credit cards with no foreign transaction fees

Cut costs while spending in a foreign currency when travelling overseas or shopping online.

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Friends with shopping bags on holiday.

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 credit cards with no foreign transaction fees and $0 annual fee

Rates last updated October 21st, 2019
Name Product Foreign Currency Conversion Fee Overseas ATM Withdrawal Fee Overseas Cash Advance Fee Annual fee Product Description
Latitude 28° Global Platinum Mastercard
0% of transaction value
$0
3% of the cash advance or $4 (whichever is greater)
$0 p.a.
This credit card offers no annual fee, no currency conversion fees and no international transaction fees.

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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? Depending on how long you're planning to keep the card, you may prefer a card that charges no annual fee for life. If you're planning to use the card for a single holiday, you might not mind if the $0 fee only applies in the first year if you plan to close the card before the standard fee applies.
  • 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'll likely be charge a cash advance fee and cash advance interest rate. These interest rates are usually higher than purchase rates and cash advance fees are sometimes as high as $5 per transaction. 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

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

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25 Responses

  1. Default Gravatar
    JeffSeptember 11, 2019

    I am retired. Why can’t I increase my credit card limit when I have sufficient funds available to access any time, please?

    • Avatarfinder Customer Care
      JeniSeptember 11, 2019Staff

      Hi Jeff,

      Thank you for getting in touch with Finder.

      Please contact your credit card issuer about increasing your credit limit. Please note that credit limit increase is based on factors like your income, expenditure, existing debt and credit score or credit rating.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  2. Default Gravatar
    gillSeptember 5, 2019

    Does it have interest free days?

    • Avatarfinder Customer Care
      NikkiSeptember 5, 2019Staff

      Hi Gill,

      Thanks for your question. Given that the only card on our page is the Latitude 28 degrees Global Platinum Mastercard, note that one of this card’s features is the 55 days interest-free period on eligible purchases. Note that you need to pay the full closing balance on each statement of account by the applicable due date.

      As a friendly reminder, check the eligibility requirements of the card before proceeding with your application. Also, read about its features and benefits and see how it fits your financial needs. Additionally, it’s helpful to review the PDS and Terms & Conditions of the card before fully committing to the card. You may also reach out to the bank if you have any clarifications.

      Hope this helps!

      Best,
      Nikki

  3. Default Gravatar
    bruceSeptember 3, 2018

    Can you please advise as to which bank can offer me a credit card with no annual fees for life of the card, travel insurance and no foreign currency exchange fee?

    • Avatarfinder Customer Care
      JhezSeptember 4, 2018Staff

      Hello Bruce,

      Thank you for your comment.

      Upon checking, there are three cards in our pages that offer 0% p.a. annual fee throughout the card use. You may check 28 Degrees Platinum Mastercard which offers no annual fee, no currency conversion fees and no international transaction fees, but does not have a complimentary travel insurance. In addition, Qantas American Express Discovery Card and American Express Velocity Escape Card have no annual fee as well, but they charge a conversion fee and has no complimentary travel insurance.

      Alternatively, you may want to compare cards with no annual fee, no foreign transaction fee and credit card with complimentary travel insurance.

      Please make sure though to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  4. Default Gravatar
    BillyMarch 26, 2018

    I am looking for a visa card with 0 annual fees and 0 international transaction fees. can you help?

    • Avatarfinder Customer Care
      JeniMarch 26, 2018Staff

      Hi Billy,

      Thank you for getting in touch with finder.
      Currently our pages only have Visa credit cards which have no annual fee or 0% foreign fees.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  5. 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?

    • Default Gravatar
      LiezlAugust 8, 2017

      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

  6. 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.

    • Avatarfinder Customer Care
      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

  7. Default Gravatar
    NeilAugust 22, 2016

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

  8. 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

    • Avatarfinder Customer Care
      JonathanNovember 11, 2015Staff

      Hi Gary, thanks for your inquiry!

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

      Cheers,

      Jonathan

  9. 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

    • Avatarfinder Customer Care
      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

  10. 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?

    • Avatarfinder Customer Care
      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

Credit Cards Comparison

Rates last updated October 21st, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
HSBC Platinum Credit Card - Balance Transfer Offer
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
Latitude Low Rate Mastercard
9.89% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.
Qantas Premier Platinum
19.99% p.a.
0% p.a. for 18 months
$199 p.a. annual fee for the first year ($299 p.a. thereafter)
Get up to 120,000 bonus Qantas Points (20,000/month) when you spend $1,500/month for the first 6 months. Ends 31 October 2019.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 22 months with 1% balance transfer fee
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Save with a 0% p.a. interest rate on balance transfers for the first 22 months, with a 1% balance transfer fee. Plus, a reduced $64 first year annual fee.

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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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