Posts Tagged ‘best credit cards for international travel’

WalletHub: Best Credit Cards for Foreign Travel

May 12, 2018
JF Kennedy International Airport, NY

WalletHub released a study of the best credit cards for foreign travel © Karen Rubin/goingplacesfarandnear.com

With 72 million Americans planning a foreign trip this year, credit cards providing up to 13 international travel benefits and 86% of people not fully understanding how foreign fees work, WalletHub released a report identifying the best cards to use.

WalletHub also released the results of its 2018 Foreign Transaction Fee Survey, which provides insights into people’s attitudes toward and understanding of foreign fees. You can find highlights from both below.

  • 96% of credit cards offer rental car insurance, while 86% offer travel accident insurance and 37% offer a form of luggage insurance.
  • The best credit cards for international travelers are the Bank of America Premium Rewards Credit Card, Bank of America Travel Rewards and Barclays Arrival Premier World Elite Mastercard.
  • 86% of people don’t fully understand when credit cards can charge foreign transaction fees. 82% think foreign transaction fees are unfair.
  • 51% of Americans worry more about foreign transaction fees on credit cards than tariffs on Chinese imports.
  • Two-thirds of people think credit cards should charge lower foreign transaction fees in countries allied with the U.S.
  • Capital One, Discover, USAA and Barclays are the only major issuers that exclusively offer no foreign transaction fee credit cards. Getting such a card, along with a no foreign fee debit card, enables international travelers to minimize the cost of currency conversion.

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