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Question 12

Foreign transaction fees are another cost to watch out for when using credit cards. These fees, typically around 3% of each purchase, apply when you make purchases outside the United States or when the transaction is processed by a foreign bank. While this might not seem like much, frequent travelers can rack up significant extra costs. Many travel-focused cards waive foreign transaction fees, making them more attractive for international use. In fact, the rise of no-foreign-transaction-fee cards has become a selling point as credit card companies compete for frequent travelers. Being aware of these fees can save you money and help you choose the right card for your lifestyle.

Why do some travelers specifically choose credit cards with no foreign transaction fees?

Did You Also Know...

By Wise Wallet

Cash-back cards and flexible points often give more usable value than airline- or hotel-specific rewards tied to a single program.