Foreign transaction fees It’s just one of a few annoying travel fees you can add to your purchase when you pay abroad using your credit card. Thankfully, many business credit cards will abandon these fees. This may be something you need if your business is frequently moving abroad.
Best business credit cards You can also earn rewards for business-related purchases and offer a variety of perks and perks.
Below are some of the biggest options for business credit cards with no foreign transaction fees.
Top business credit cards with no foreign transaction fees
Compare the best business credit cards without foreign transaction fees
Business credit cards with no foreign transaction fees can provide compensation for spending and other perks, such as annual statement credits and airport lounge access. To find the best business cards, consider the needs of your business and the rewards and benefits you want the most.
| card | It’s perfect for | Highlights | Annual fees | Recommended Credit Score |
|---|---|---|---|---|
| Ink BusinessPreferred® Credit Card | Flexible travel rewards |
Points worth 25% when redeemed through Chase Travel℠ |
$95 | Good, great |
| American Express® Business Gold Card | Bonus Categories |
|
$375 | Excellent/Good |
| Capital One Spark Cash Plus | Flat rate cashback |
|
$150 See prices and prices |
wonderful |
| American Express Business Platinum Card | Travel Benefits |
|
$695 | Good, great |
| Capital One Spark Classic for Business | Fair Credit |
|
$0 | Fair Credit |
| Bank of America® Business Advantage Travel World World Master Card® Credit Card | There is no annual fee |
|
$0 | wonderful |
How to Choose the Best Business Credit Card Without Foreign Transaction Fees
Many business credit cards do not have foreign transaction fees, so there are aspects of the card you should consider when choosing a business credit card. Here are some things to consider when comparing options:
Find the right reward for your spending and travel
If you usually spend on a specific category per month, look for cards that offer bonuses for those expenses. You also need to make sure that these cards offer the same bonus overseas. For example, many American Express cards offer only compensation for US-based spending. This means that you won’t get a bonus if you spend overseas in the same category.
Consider benefits and welcome bonuses
Make sure your selected card offers benefits that can be used, such as airport lounge access and statement credits for business-related services and expenses. If you are considering a business credit card with a higher annual fee, make sure the perks and perks offer enough value to justify your fee.
Compare prices and prices
Foreign transaction fee-free business cards range from annual costs to over $300 per year, with a huge variety in fee structure. APR Rate. Especially if the annual fee is high, choose a card with a fee that is favorable to your needs.
Differences between foreign transaction fees and currency conversion fees
Foreign transaction fees and currency conversion fees both occur after purchasing overseas, but they are very different fees.
Foreign transaction fees
Foreign transaction fees are evaluated when purchasing with a credit card outside the US. Depending on the card issuer, these charges range from 2.7-3% of the purchase amount. For example, if your credit card charges a 3% foreign transaction fee on a $100 purchase, your credit card statement will show you an additional $3 charge for that purchase. This fee is more common for online shopping, even when you shop in the US, vendors are from abroad.
Currency conversion fee
The merchant charges a currency conversion fee to convert the purchase into US dollars before making a transaction. These prices vary, but are usually at least 1% of the purchase price. If you use the wrong card, you will be paying foreign transaction fees on top of these fees. For example, when you purchase an item priced at 100 euros, you may receive the option to convert it to USD up to 115.
Local currency is mostly a better payment option to reduce costs. Currency Exchange Rates apps help you compare other currencies with US dollars and see that you are losing value in currency conversion fees. If possible, advise merchants who wish to pay in local currency as they may default to US dollars.
What’s next?
To view currency prices, check out the resources below to find the card that suits your travel needs.
Conclusion
Business credit cards with no foreign transaction fees help business owners avoid overpayment of purchases abroad. Many of these cards offer excellent spending rewards and many benefits and perks.
That said, the right business credit card varies from business owner to all business owners. The absence of foreign transaction fees is becoming a standard feature of credit cards and should not be a critical factor in choosing a card. Consider all aspects of your business credit card before making your decision.
*Information on Capital One Spark® Classic for Business and Bank of American® Business Advantage Rewards World MasterCard® Credit Cards was collected independently by Bankrate. Card details have not been reviewed or approved by the issuer.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or MasterCard® and may vary depending on the product. Terminology and exclusions apply, so please refer to the guide to each benefit for more information.
Click here for American Express® Business Gold Card pricing and fees here.
Click here for American Express Business Platinum Card pricing and fees here.
