Carrying a credit card when you are vacationing overseas is convenient as you cannot carry too much cash with you when traveling. The best card for your overseas vacation is one that does not have any foreign transaction fee. The following are the 3 best credit cards for overseas transactions.
1. Chase Sapphire Preferred
Chase Sapphire Preferred has a generous signup bonus program that lets you earn up to 50,000 bonus points after spending $4,000 in 3 months. If you have 50K bonus points in your account, you can exchange it for a $625 travel voucher. There is also the opportunity to earn another 30,000 bonus points when you have spent $30,000 in the first year.
When you spend money overseas in food and travel, you will earn 2x points. They also credit 5,000 bonus points into your account for the first authorizer user you add. You can benefit from the 1:1 point transfer to selected airline loyalty programs. If you want 25% more value, you must redeem the points for travel category. Chase Sapphire Preferred has no foreign transaction fee.
2. Citi ThankYou Premier Card
Citi ThankYou Premier Card is a great card for people who want to spend up to $4,000 in the first 3 months. Spending this amount allows you to earn 50,000 bonus points which is redeemable for a $625 airline voucher. You can also opt to exchange the points for a $500 gift card. Citi ThankYou Premier Card offers 3x points on travel and gas station; 2x points on dining and entertainment; and 1x point on other purchases.
There are 15 loyalty programs where you can transfer your Citi ThankYou points. Each point is worth 1.25 cent if you redeem it for travel via Citi’s ThankYou Rewards Travel Center. The annual fee of $95 is waived in the first year. Citi ThankYou Premier Card does not charge any foreign transaction fee on your overseas shopping.
3. Capital One Venture Miles Reward Credit Card
Capital One Venture Miles Reward Credit Card offers 2 points for every dollar spent regardless of what you spend on. New card members can earn 50K bonus miles after spending $3,000 in the first 3 months. If you shop at Venture store on Hotels.com, you can earn 10x miles per dollar spent. It offers extra bonuses such as 24 travel assistance service, extended warranty, travel accident insurance, and auto rental collision damage waiver.
Capital One Venture Miles Reward Credit Card does not charge any no foreign transaction fee when you use the card outside of USA. The annual fee is $95 but there is no charges on this in the first year. You need to have an excellent credit rating to qualify for the Capital One Venture Miles Reward Credit Card.