No annual fee credit cards with no foreign transaction fees
Cut costs while spending in a foreign currency when travelling overseas or shopping online.
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
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.
Frequently asked questions about no annual fee credit cards with no foreign transaction fees
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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.