Mastercard no foreign transaction fee
- 1 mastercard no foreign transaction fee
- 2 The Best Secured Cards with No Foreign Transaction Fees
- 3 No Annual Fee Mastercard® (no longer available)
- 4 Review: Citibank Plus Mastercard Debit Card No Foreign Transaction or ATM Fees
- 5 Top 5 Credit Cards With No Foreign Transaction Fee
mastercard no foreign transaction fee
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Are there any Credit cards with no foreign transaction fee for international travel?
Are there any Credit cards with no foreign transaction fee for international travel, and a good exchange rate?
It looks like Capital One does not charge foreign transaction fees.
I've researched this myself, and yes, Capital One is the only one that has no fee. Quite amazing. I know they phased out the no-fee cards in Canada, however, so you probably want to double-check with them that they're still available in the US.
HSBC World Mastercard http://www.us.hsbc.com/1/2/3/hsbcpremier/privileges has no foreign transaction fees. But they require that you hold a 'Premier Relationship' which requires you maintain greater than $100,000 in combined U.S. personal deposit and investment balances in HSBC accounts.
The 28 Degrees card has no foreign transaction fee.
There is a table listing issuer's foreign transaction fees for both credit and debit cards at Flyerguide. While Capital One may be the best known US issuer of 0% cards, Citi, Chase, Discover, HSBC, and several credit unions all have some 0% cards as well.
Try Chase https://creditcards.chase.com/credit-cards/sapphire-preferred-card.aspx I got this card before going to Europe. If you spend $3k within the first 3 months you get to cash in your bonus points.
And yes there is no foreign transaction fee.
And for the first year there's no annual fee. So just get the card before you trip keep it for 3 months get the cash back and then cancel it.
The Best Secured Cards with No Foreign Transaction Fees
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Because secured credit cards are often the last resort for people working on their credit, they don't always offer ideal options. Many secured credit cards are known for having lots of fees and extremely high APRs. Almost all secured cards have foreign transaction fees around 3%, which can become a burden for travelers who are also working on increasing their credit ratings. (See also: Best Secured Card with No Annual Fees)
For those who travel outside of the United States often, the foreign transaction fee for purchases is one of the most important fees to consider when choosing a credit card. Whether you are just starting out and building your credit, or repairing past credit problems, you can still save money with secured cards that, although rare, have no foreign transaction fees. Here are the best secured cards to use for foreign transactions.
Capital One® Secured Mastercard®
The Capital One® Secured Mastercard® is considered one of the best secured credit cards not only for those who want to improve their credit ratings, but for those who travel as well. It is one of only a few secured cards without a foreign transaction fee. Additionally, the card has no annual fee.
Furthermore, while most secured cards require adding to the security deposit in order to increase your credit limit, you can qualify for higher credit limit by making your first 5 monthly payments on time without the need to add more funds to your deposit. This will allow you to have more freedom to spend while on the road.
No Annual Fee Mastercard® (no longer available)
Our No Annual Fee Mastercard ® is no longer available. See our full range of available credit cards.
No Annual Fee Mastercard ® holders
If you currently have a No Annual Fee Mastercard ® nothing has changed. Existing benefits, features, fees and the conditions that apply are outlined below.
- No annual fee for the life of your card
- 19.99% p.a. variable interest rate on purchases
- 21.49% p.a. variable interest rate on cash advances
- Protected by CardShield TM
- Accepted at 30 million locations worldwide
- Optional credit card repayment protection
- Westpac’s Added Online Security when shopping online at participating retailers with a registered Mastercard ® SecureCode TM
- Paperless eStatements available.
A Foreign Transaction Fee is payable as a percentage of the Australian dollar value of any Foreign Transaction. The percentage will vary depending on the applicable credit card scheme:
1. Transactions in foreign currency
2. Transactions in Australian dollars and the merchant or financial institution accepting the card is located overseas:
Note: It may not always be clear to you that the Merchant or entity processing the transaction is located outside Australia.
An administrative charge of 2% of the transaction amount applies:
- Where your account has a negative (debit) balance after the transaction, a minimum of $2.50 and a maximum charge of $150 will apply.
- Where your account has a positive (credit) balance after the transaction a charge of $2.50 will apply.
These charges appear on your statement directly below the relevant cash advance.
*Fees are subject to change
8am-8pm, 7 days a week
1. Mastercard ® International Incorporated charges us 0.8% of the transaction amount where a transaction is made using your Mastercard ® and the merchant or financial institution accepting the card is located outside of Australia. We pass this amount on to our customers.
2. Mastercard ® International Incorporated charges us 0.2% of the transaction amount for converting foreign currency transactions made using a Mastercard ® into Australian dollars. We pass this amount on to our customers.
World Mastercard ® , Mastercard ® and the Mastercard brand mark are registered trademarks, and PayPass is a trademark of Mastercard International Incorporated.
Credit criteria, fees and charges apply. Switches, upgrades, or customers accessing employee benefits are ineligible. This promotion may be varied or withdrawn at any time and is not available in conjunction with any other promotion.
Visit the product page for each credit card to check the terms and conditions, including any rewards terms and conditions (if relevant) that apply.
Review: Citibank Plus Mastercard Debit Card No Foreign Transaction or ATM Fees
Citibank#8217;s Plus Mastercard Debit Savings Account card is perfect for Australians who want to buy online or travel overseas while saving money by avoiding paying monthly account keeping fees, foreign transaction fees and ATM withdrawal fees. Citibank changed the card from VISA to Mastercard during March 2017.
When I was a young 21 year old backpacker travelling overseas in Europe I used my Commonwealth Bank savings/debit card, a specialist travel money card and travellers cheques.
But these all had problems:
Using Bank savings/debit card #8211; Making a small number of large withdrawals saved me some bank fees but I didn#8217;t feel safe withdrawing and carrying a lot of cash. Also Bank savings/debit cards tend to charge a flat fee eg: $5 to use ATM#8217;s overseas as well as a currency conversion fees eg: 2%. So withdrawing $100 from an ATM overseas could cost $107 in total.
Travel money cards #8211; Are marketed as being easy to use, however the problem is they have lots of fees e.g the Travelex Cash passport: load money on card (1.1% or $15), massive currency conversion fees of 5.95%, reload fee $5 and account shutdown fee $10.
Travellers Cheques #8211; Used to be really popular but you rarely hear about them these days as people find using cash or plastic (debit/credit cards) is easier. Back in the day travellers cheques always involved lots of fees and charges, high commissions, poor exchange rates #038;they are weren#8217;t accepted in some shops
Citibank Plus Mastercard Debit Card Has Saved Me $100#8217;s
Since I switched over to this card has saved me a lot of money.
While in Australia you can withdraw cash from any Citibank, Westpac or Westpac owned bank ATM (St George, BankSA, Bank of Melbourne) without paying an ATM fee.
Overseas when you use any ATM to withdraw cash Citibank won#8217;t charge a fee itself. Most banks which own the foreign ATM you#8217;re using won#8217;t charge you a fee either, however note that a few might charge (see list on Whirlpool forums), usually there will be a warning about this on-screen asking you whether you want to continue.
Your Citibank Plus Mastercard debit card has a secure chip and Tap and Go functionality in it so you can pay using Mastercard PayPass at shops that support this.
Some countries for example the United States of America still have lots of shops with old credit card machines that require you to swipe your card or plug it into the machine #038; sign a receipt, your Citibank card also supports this.
At least a few days before you leave Australia let Citibank know which countries and what dates you#8217;re travelling, so their automated security systems don#8217;t lock your transactions overseas because they mistakenly think your card has been stolen.
Note that as of November 2016 all Citibank branches in Australia are cashless. Cheque requests and other non-cash teller services will continue at branches. Customers who want to deposit physical cash into a Citibank account will have to do so at an Australia Post shop that has [email protected] and PostBillPay capabilities). Citibank Savings Deposit and mortgage account clients can also use National Australia Bank branches for cash services.
Like any other Australian bank savings account, you can use a Citibank Plus Mastercard debit account to pay bills using Bpay,
I don#8217;t drink wine, but if you do you might be able to get a free bottle of wine at some Australian restaurants #038; cafes if you pay using your Citibank Plus Mastercard debit card. Check the Citibank wine and dine website to find out which restaurants participate in this offer.
While you don#8217;t have to have any money deposited in the account when you open it, don#8217;t leave this account inactive for close to 6 months in a row otherwise Citibank may shut it due to lack of use.
Dynamic Currency Conversion In Shop Can Be Costly
Retailers online and in-store overseas are increasingly offering customers the ability to transact in their home currency, using their MasterCard or Visa card.
For example, you might be in an electronics shop in Signapore and they#8217;ll offer to charge your credit card in Australian dollars. This can be really expensive because the shop keeper#8217;s currency conversion exchange rate is often poor.
Debit Card Can#8217;t Be Used for Hotel/Car Hire Hold Fees
It#8217;s quite common for car hire companies and hotels to demand to place a hold of several hundred dollars on your card when you pay them, as a security bond in case you damage the car / hotel room.
Many of these car hire/hotel companies won#8217;t even accept a debit card for hold fees, they want a proper credit card for that, even if the bill will be settled with a debit card
I recommend that you use the 28 Degrees MasterCard credit card for that purpose. Like this Citibank card it also doesn#8217;t charge foreign transaction fees.
Change from Visa to Mastercard
Citibank Australia this message to banking customers in December 2016:
Change to your Citibank Debit Card #8211; From March 2017, Citibank Visa Debit cards will be replaced with a Citibank Debit MasterCard upon card expiry.
Summary of changes
- Your card number and card expiry date will change.
- If you have direct debits set up linked to your card number, your direct debits will need to be updated with your merchant once you receive your new card. Any direct debits you have set up on your account number will not be affected.
- Once you receive your new card, you will need to select a new ATM PIN.
When your card is ready to expire we will send you your new card with information on how to activate and use it straight away. In the interim, there is nothing else for you to do; you can continue to use your current Citibank Debit card as you do today.
Top 5 Credit Cards With No Foreign Transaction Fee
Are you in the know? Do you realize that spending money can make money – so long as you have the right credit card? Many business cards and credit cards offer generous travel rewards and significant travel protection services, but at a catch: fees. Annual fees, balance transfer fees, minimum balance fees, foreign transaction fees, ad infinitum.
Foreign exchange fees are typically 1-3 percent of an international purchase. For the savvy spender, they can make the difference between making money with a credit card and losing money. Thankfully, the following pieces of “magic plastic” offer all the perks of a travel rewards program with none of the foreign transaction fees.
Barclaycard Arrival PlusTM World Elite MasterCard®
Just who it says: the world elite. Frequent travelers and big spenders. People who ride in limousines more often than taxis.
This impressive travel rewards card has an ace in the hole: chip n#8217; pin technology. Unlike many American credit cards, which only offer swipe n#8217; signature technology, the Barclaycard Arrival Plus World Elite MasterCard also has a built-in security and identity chip, which is much more common overseas, particularly in Europe. You can use the card at parking kiosks, toll roads, and other self-serve terminals.
In addition to its chip n#8217; pin technology, the Barclaycard offers a whopper of a sign-on bonus. If you spend $3,000 within the first 90 days, you receive a 40,000-mile bonus! The bonus can also be redeemed for a $400 travel statement credit.
What to Watch Out For
The card has an annual fee of $85, waived for the first year. You have to spend $4,200 each year just to offset the annual fee. It is only available to those with good to excellent credit and the wallets to back it up.
The occasional international or domestic traveler. Small business owners, vacationers, tourists.
Use it like any other credit card. You get 1.5x rewards on every dollar you spend. There#8217;s no limit and no rewards expiration. You can use your points for free travel miles or redeem for cash, anytime. Unlike most other premium cards, which require a minimum redemption amount, you can redeem your Discover it Miles rewards for anything, even 23 cents, if it suits you. It#8217;s a competitor to the BankAmerica Travel Rewards Credit Card.
No annual fee! Unlike most other foreign transaction fee-free credit cards that charge annual fees to “encourage” users to spend freely, the Discover it Miles card has no annual fee and not much fine print. Here#8217;s another perk: Discover will match all of the rewards you#8217;ve earned at the beginning of your first year for new card members.
What to Watch Out For
Nothing, really. Just follow the rules of thumb for all credit cards: Keep your utilization ratio under 30 percent. Don#8217;t carry a balance long-term. Make your payments on time.
Capital One® Secured MasterCard®
The young. The recently divorced. The bankrupted.
A secured credit card, unlike a traditional credit card, requires a collateral security deposit. This deposit, along with proven income and a demonstrated ability to pay your bills, gives the lender confidence in your, um, “spotty” credit history. If you default on your payments, the lender keeps your security deposit.
Many secured cards come with high APR#8217;s, annual fees and foreign transaction fees of around 3 percent. Not so with the Capital One Secured MasterCard! Like all Capital One cards, it charges no foreign transaction fees. It also has no balance transfer fees and no annual fees. The card also provides traveler#8217;s assistance programs such as 24/7 roadside assistance and automobile rental insurance.
What to Watch Out For
The APR is typically 24.99 percent, so don#8217;t carry a balance long-term. Also, even though the opening security deposit is low – down to $49 – the initial credit limit is only $200. Maximum credit line is $3,000. And sadly, unlike the beloved Capital One Venture Rewards Credit Card, the Capital One Secured MasterCard offers no travel rewards programs. All you get is a better credit score and a slap on the back.
Airline nomads. Hotel rats. CEOs.
The Citi Prestige Card is the premium option to the Citi ThankYou Premier Card. The travel rewards are incredible: 3x points on air travel and hotel expenditures, 2x points on dining and entertainment, and 1x points on all other purchases. There is no limit or expiration of the ThankYou points.
Besides the 3x rewards rate, you mean? For one thing, the Citi Prestige Card offers significant travel protection. They#8217;re among the best in the market. Citi offers:
- $500 in trip delay protection if your flight is delayed by three hours or more.
- $500 in baggage delay protection on similar terms.
- $100,000 in primary car rental coverage outside the United States.
- $5,000 per person in trip cancellation and interruption protection, such as if you#8217;re called to jury duty, become sick, unemployment, etc.
- … and literally dozens of other perks.
What to Watch Out For
Ahem. There#8217;s a $450 annual fee. So unless you#8217;re a frequent flier, you won#8217;t come out ahead with this card, even with its generous rewards. However, thanks to the litany of travel protection services, you may want to consider this car or the Citi ThankYou card if you often travel overseas and want some peace of mind.
Chase Sapphire® Preferred Card
Anyone who loves Christmas, or birthdays, or Valentine#8217;s Day. It#8217;s all about the gifts.
Voted Best Credit Card for Flexible Travel Redemption by Kiplinger#8217;s Personal Finance in July 2016, the Chase Sapphire Preferred Card has one of the best sign-on bonuses anywhere. If you spend $4,000 within the first three months of the account opening, you earn 50,000 bonus points. That#8217;s the cash equivalent of $625, a tidy sum. Among business cards for frequent travelers, it#8217;s one of the most popular and most versatile.
Chase has an extremely flexible rewards program. Points can be redeemed for cash, gift cards, merchandise, Chase Ultimate Rewards travel, airline loyalty programs, etc. It has no black-out dates, no travel restrictions, and 2x points on all international travel and dining purchases.
What to Watch Out For
It#8217;s a Visa card. And Visas typically don#8217;t have the same currency exchange rates as MasterCards. They may be up to one percent higher, which doesn#8217;t sound like a lot until you spend $40,000 in a year and realize that $400 disappeared into the thin air of cyberspace. Do note that currency exchange rates vary depending on the day and the currency, and that no matter what card you use, you should always pay in local currency whenever possible.