Personal Finance HUB

Become your own financial fitness guru!

  • Loans
  • Credit Cards
  • Debt
  • Banking
  • Retirement
  • Cryptocurrency
  • Contribute

Best International Credit Card: 5 Credit Card

credit card in the wallet

When you consider getting a credit card, there are many factors to consider. Credit card offers come in the mail frequently for some people and, on the surface, it may appear that all offers are generally the same. Some cards will give cash back on purchases while others will give you frequent flyer miles. More so, others give access to special clubs or opportunities. With all the credit card rewards and programs available, the question remains: what is the best international credit card - or, more specifically, which credit card can best be used both domestically and internationally while also earning rewards?

Table Of Contents
Product FAQ
How We Reviewed
What We Reviewed:
LendingCiti ThankYou Premier Card Tree
Premier Rewards Gold Card from American Express
Discover it Miles
Bank of America Travel Rewards Credit Card
Capital One Venture Rewards Credit Card
Comparison
The Verdict

One often-overlooked feature of credit cards is whether the card waives international transaction fees. Some cards do. Yet, some do not. If you have never considered international transactions fees and whether they affect you, take some time right now to explore the issue and find the best international credit card for your needs.

Product FAQ

1. What Is an International Credit Card?

An international credit card is a credit card designed from the ground up to make it easy to use outside the United States. These cards do not charge a fee for international financial transactions and, usually, come with rewards and incentives when you use them for travel or international purchases.

2. How Does an International Credit Card Work?

The credit card issuing agencies such as Visa, Discover, American Express, and Mastercard control the method, time, and location in which their cards can be used. This includes not only which countries may accept their cards but also which merchants within accepted countries are permitted to do so. Each issuing agency cooperates with a bank such as Chase or Bank of America to offer different types of credit cards.

Ordinary credit cards may or may not be accepted outside the country of origin. If they are, their use almost always comes with significant fees. International credit cards are specifically designed to be accepted by as many countries and merchants as possible while offering the user the lowest possible fees.

3. Do Most Countries Accept Credit Cards from the United States?

Nearly all developed countries accept American credit cards. A great majority of developing countries do so as well, although the number of merchants who will accept credit cards in developing nations is limited compared to currently developing ones. Many of the most technologically advanced nations such as those in the European Union, Japan, and Canada now use EMV chip-and-pin credit cards rather than magnetic stripe cards. Visa and Mastercard are the most widely accepted cards though Discover and American Express cards grow in acceptance every year.

4. Where Can You Get the Best International Credit Card?

Banks issue credit cards for different purposes. To get one, consumers need to visit the websites of these banks and specifically inquire about international credit cards.

5. How Much Are International Transaction Fees?

These will vary by bank and card, but, in general, consumers should expect to pay between 3% and 5% of the purchase price of each item whenever an ordinary credit card is used outside the United States. This charge does not show up when the purchase is made. It will appear in the credit card statement at the end of the month. International credit cards waive these fees.

6. Do International Transaction Fees Only Show Up When Shopping Abroad?

This fee is also sometimes referred to as the "currency conversion fee." In addition to being applied to in-person transactions while abroad, the fee may also apply when shopping on a foreign website.

7. How Can I Avoid International Transaction Fees?

There are two ways to avoid the fee. The first is to conduct all foreign transactions in cash, though this presents other problems including theft or large fees for currency conversions. The second is to simply get the best international credit card since international credit cards do not charge fees for transactions abroad. Fortunately, we have written this article to help you find the best international credit card for you!


How We Reviewed

We considered five of the best international cards compared to one another. We considered the pros and cons, outstanding features, and cost of each.

Overall Price Range of the Best International Credit Cards

In exchange for waiving all foreign transactions fees, card issuers or banks typically charge an annual fee. The important consideration is how much you intend to use the card abroad. If you shop on international websites frequently or travel often, you can easily recover the annual fee and continue to save by avoiding transaction fees. If you only travel infrequently or use a credit card only occasionally when doing so, you will likely be most interested in a card with no annual fee.

What We Reviewed:

  • Citi ThankYou Premier Card
  • Premier Rewards Gold Card from American Express
  • Discover it Miles
  • Bank of America Travel Rewards Credit Card
  • Capital One Venture Rewards Credit Card

LendingCiti ThankYou Premier Card Tree

Features

This card comes with a hefty bonus for signing up and is available for a relatively modest annual fee. Citi also makes it easy both to earn rewards avoid international transaction fees simultaneously. Spend at least $4,000 in the first three months and Citi will reward you with 600,000 points worth about $750 in airfare or $600 in gift card redemption.

  • Cons
  • Rate
  • Where to Apply
  • Points are not applicable to many domestic airlines
  • Users need to spend around $800 per month to offset the fee

The annual fee on this card is $95.

open online

Pros

  • Comes with 600,000 points after $4,000 spent
  • Rewards three points for all travel purchase
  • Rewards one point for other purchases
  • No blackout dates for travel booked through Citi's Travel Center

Cons

  • Points are not applicable to many domestic airlines
  • Users need to spend around $800 per month to offset the fee

Premier Rewards Gold Card from American Express

Features

This card comes with 25,000 bonus rewards points for those who spend $2,000 in the first three months. These points can be redeemed for as much as $250 in value. Earn triple points for flights with participating airlines and double points for purchases at restaurants, gas stations, and supermarkets - even within the United States! The card also offers $100 per year in credits towards incidental travel fees like flight change fees, on-board refreshments, or baggage fees.

  • Rate
  • Where to Apply

The first year's fee is waived. However, consecutive years cost $195.

open online

Pros

  • Excellent point value after first $2,000 spent in three months
  • No annual fee for the first year
  • Triple points for airline purchases
  • Credit toward annoying travel incidentals like baggage fees
  • Double points for domestic gas and food purchases
  • Easy to redeem points for more than just travel purchases

Cons

  • Very high annual fee after the first year
  • Late fees are very high
  • Only cost effective for frequent international travelers

Discover it Miles

Features

The outstanding feature of this card is the lack of annual fees. In addition to waiving all foreign transaction fees, the card will also earn you three miles for every dollar you spend in the first year. After that, expect to earn 1.5 miles per dollar spent. As a bonus, Discover matches all the earned miles for the first year.

  • Rate
  • Where to Apply

This card has no annual fee.

open online

Pros

  • No annual fee
  • Matching miles for the first year
  • Credit of $30 for in-flight Wi-Fi purchases each year
  • Easy to redeem miles
  • Three miles earned per dollar for the first year

Cons

  • Only 1.5 miles per dollar after the first year
  • Best for those who intend to do a lot of traveling in the next year
  • Discover is not accepted in as many places as cards from other issuers

Bank of America Travel Rewards Credit Card

Features

With no annual fee and no foreign transaction fees, this card is definitely in the running to be one of the best international credit cards. If you spend $1,000 in the first 90 days, you receive a bonus of 25,000 points with this Bank of America card! For those with a Bank of America checking or savings account, there is an added 10% bonus for purchases. For Preferred Rewards members, that bonus can go as high as 25% to 75% depending on the tier. Although this card offers fewer rewards than the other best international credit cards, the system for redeeming the travel rewards is straightforward.

  • Rate
  • Where to Apply

This card has no annual fee.

open online

Pros

  • No annual fee
  • 1.5 points for every dollar spent
  • Added bonuses for Bank of America bank account holders
  • 25,000-point bonus for only $1,000 spent in the first 90 days
  • Simple, effective rewards earning system
  • No blackout dates or restrictions when redeeming travel awards

Cons

  • Not as rewarding for those without a Bank of America bank account
  • Rewards are only useful for low to medium-level spenders
  • Mediocre reward offers compared to other cards

Capital One Venture Rewards Credit Card

Features

This card makes it easy to earn rewards and redeem them. Miles can be redeemed without blackout dates or restrictions. Other important features include earning two miles per dollar spent on all purchases and 10 times the normal number of miles per dollar when booking stays with Hotels.com or Venture. The card also offers reimbursement for TSA Precheck application fees and Global Entry fees. The bonus on this card is 50,000 miles, or about $500 worth of travel points when you spend $3,000 in the first three months. Rewards never expire with this card.

  • Cons
  • Rate
  • Where to Apply
  • Annual fee kicks in during the second year
  • Rewards redemption is only travel-related
  • Not suitable for those who travel only occasionally
  • No annual fee for the first year, but $95 for each subsequent year.

    open online

    Pros

    • Relatively low APR
    • Easy to earn and redeem rewards
    • Special rewards for hotel stays with Hotels.com
    • Rewards are earned for all purchases of all types
    • No annual fee for the first year
    • Avoid TSA Precheck and Global Entry fees

    Cons

    • Annual fee kicks in during the second year
    • Rewards redemption is only travel-related
    • Not suitable for those who travel only occasionally

    Comparison

    Product

    Pros

    cons

    check online

    Citi ThankYou Premier Card

    • Comes with 600,000 points after $4,000 spent
    • Rewards three points for all travel purchase
    • Rewards one point for other purchases
    • No blackout dates for travel booked through Citi's Travel Center
    • Points are not applicable to many domestic airlines
    • Users need to spend around $800 per month to offset the fee
    open online

    Premier Rewards Gold Card from American Express

    • Excellent point value after first $2,000 spent in three months
    • No annual fee for the first year
    • Triple points for airline purchases
    • Credit toward annoying travel incidentals like baggage fees
    • Double points for domestic gas and food purchases
    • Easy to redeem points for more than just travel purchases
    • Very high annual fee after the first year
    • Late fees are very high
    • Only cost effective for frequent international travelers
    open online

    Discover it Miles

    • No annual fee
    • Matching miles for the first year
    • Credit of $30 for in-flight Wi-Fi purchases each year
    • Easy to redeem miles
    • Three miles earned per dollar for the first year
    • Only 1.5 miles per dollar after the first year
    • Best for those who intend to do a lot of traveling in the next year
    • Discover is not accepted in as many places as cards from other issuers
    open online

    Bank of America Travel Rewards Credit Card

    • No annual fee
    • 1.5 points for every dollar spent
    • Added bonuses for Bank of America bank account holders
    • 25,000-point bonus for only $1,000 spent in the first 90 days
    • Simple, effective rewards earning system
    • No blackout dates or restrictions when redeeming travel awards
    • Not as rewarding for those without a Bank of America bank account
    • Rewards are only useful for low to medium-level spenders
    • Mediocre reward offers compared to other cards
    open online

    Capital One Venture Rewards Credit Card

    • Relatively low APR
    • Easy to earn and redeem rewards
    • Special rewards for hotel stays with Hotels.com
    • Rewards are earned for all purchases of all types
    • No annual fee for the first year
    • Avoid TSA Precheck and Global Entry fees
    • Annual fee kicks in during the second year
    • Rewards redemption is only travel-related
    • Not suitable for those who travel only occasionally
    open online

    The Verdict

    All the cards we reviewed have great perks for those who travel but do not want to pay high foreign transaction fees. Since foreign transaction fees can be borderline punishing, those who travel outside the USA even once every year or two may benefit from applying for one of the best international credit cards. Thankfully, there is a wealth of choice among these credit cards and something for everyone with each of them.

    For those who travel often, our recommendation is the Capital One Venture Rewards Credit Card. The rewards and earnings are robust, and the redemption structure is simple. Although redemption is only for travel rewards, this does not matter much for those doing a lot of traveling in the first place. While the annual fee is relatively high, the first year's fee is waived and consistent travel will quickly make up for fees. Earning special rewards for hotel travel with Hotels.com is another excellent perk, as is avoiding fees for Global Entry and TSA Precheck, which is a serious benefit to regular international travelers.

    For those who travel less frequently but still wish to avoid annual fees, we recommend the Bank of America Travel Rewards Credit Card. While the Discover it Miles card also has no annual fee, it cannot beat Bank of America's simple and effective rewards system. In addition, the Bank of America Card has especially good perks for anyone with an existing Bank of America savings or checking account. Anyone who travels regularly or is a low to medium-level international spender will benefit from using this card. The Bank of America Visa card is also honored in more locations than Discover.

    Whichever card you choose, getting an international credit card is a great idea. Foreign transaction fees can be high and one of the safest and best ways of avoiding them is through using one the best international credit cards.

    Regardless of the international rewards card you choose, we hope and trust this article has provided you with the information you need to make your decision when looking for the best international credit card for you!

    Leave a Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Find us on Facebook

    Copyright © 2017 - 2018 - All rights reserved *Personal Finance HUB
    About | Privacy Policy | Terms of Use | Contact
    This website uses cookies to ensure you get the best experience on our website. Learn more.