Travel-rewards enthusiasts aren’t the only ones who could benefit from a credit card without foreign transaction fees. If you travel or shop overseas, but want cold, hard cash rewards on every purchase, the Nerds have found a few good options for you.
Nerd note: If your card does have foreign transaction fees, you can expect to pay around 3% extra on your overseas purchases. Getting a card without these fees saves you around $30 per $1,000 you spend internationally.
Here are two cash back credit cards that boast no foreign transaction fees.
Discover it® Cash Back: 5% cash back on rotating categories
For high cash rewards, the Discover it® Cash Back is a solid choice. It offers 5% cash back on rotating bonus categories that you activate, up to $1,500 in spending per quarter. Here are the current bonus rewards categories:
|Discover bonus rewards categories for 2020|
|Q1 (Jan. 1 – March 31)||• Grocery stores.
|Q2 (April 1 – June 30)||• Gas stations.
• Uber and Lyft.
• Wholesale clubs.
• June only: Home Depot
|Q3 (July 1 – Sept. 30)||• Restaurants.
|Q4 (Oct. 1 – Dec. 31)||• Amazon.com.
Bonus category purchases in excess of $1,500 a month, and all other purchases, will earn you 1% cash back.
The Discover it® Cash Back has an annual fee of $0 and an introductory APR of 0% intro APR for 14 months on purchases and balance transfers, and then the ongoing APR of 11.99% - 22.99% Variable APR.
Capital One® Quicksilver® Cash Rewards Credit Card: Quick and easy rewards on every purchase
For straightforward cash rewards, the Capital One® Quicksilver® Cash Rewards Credit Card is a great option. It boasts rewards of 1.5% back on every purchase and a tidy cash sign-up bonus: One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening. Your rewards are redeemable for check or statement credit in any amount, at any time.
The Capital One® Quicksilver® Cash Rewards Credit Card has an annual fee of $0 and an introductory APR of 0% APR for 15 months on purchases, and then the ongoing APR of 15.49% - 25.49% Variable APR.
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