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Bank of America normally charges a 3% fee for transactions you make in foreign currencies or outside the United States. You’ll find this with half of the provider’s cards. However, the majority of its products — namely, the travel credit cards — charge 0% foreign transaction fees. These cards typically have annual fees between $0 and $95.
Paying no foreign transaction fees is a useful perk for anyone traveling abroad or for online shopping with foreign merchants. But there are other card features that you should keep in mind before you choose a card, such as:
Aside from paying no foreign transaction fees, other benefits you’ll find are:
This largely depends on personal needs. For example, for an occasional excursion abroad or buying items and services from foreign merchants, a simple, no-annual-fee card with no foreign transaction fees would do the trick; It won’t cost you anything to own the card, plus you’ll save 3% off of every transaction. That’s $30 saved on $1,000 spent.
But frequent travelers who want the best value for the money should consider a no-foreign-transaction-fee card that has an annual fee because this type of cards often comes with the best travel benefits and rewards.
Bank of America has an extensive collection of no-foreign-transaction-fee cards. It offers its own general travel cards as well as several cobranded products.
If you’d like to learn more, read our guide to no-foreign-transaction-fee credit cards.
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