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No annual fee credit cards with no foreign transaction fees

If you're heading overseas or just enjoy online shopping, compare and save big with no annual fee or foreign transaction fee credit cards.

Credit cards typically charge a 2.5% fee when making a transaction in a foreign currency. Designed for international purchases, some credit cards waive this foreign transaction fee completely. If you’re looking to cut costs further, consider a card with no annual fees and no foreign transaction fees.

Compare no foreign transaction fee credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
Brim World Mastercard
Up to $300 worth of bonuses
1.5 points for every $1 spent
19.99%
$99
Min. recommended credit score: 700
Earn up to $300 worth of bonus points when you shop with Brim retailers for the first time through the Brim mobile app. 
HSBC World Elite® Mastercard®
100,000 Points
Up to 6 points per $1 spent
19.9%
$0 annual fee for the first year ($149 thereafter)
Min. recommended credit score: 650
Earn up to 100,000 Points. Get a Welcome Bonus of 20,000 Points (up to $100 value). Plus, earn an additional 80,000 Points and get the 1st year annual fee waived for the primary cardholder (up to $549 value). Apply by January 31, 2022.
BMO U.S. Dollar Mastercard
N/A
N/A
19.99%
$35 USD
Min. recommended credit score: 725
When your purchases total US$1,000 or more in a year, the next year's annual fee (US$35) is rebated to your card.
Brim World Elite Mastercard
Brim World Elite Mastercard
Up to $500 worth of bonuses
2 points per $1 spent
19.99%
$0 annual fee for the first year ($199 thereafter)
Min. recommended credit score: 700
Collect up to $500 worth of bonus points when you shop with Brim retailers for the first time using your Brim World Elite Mastercard.
Scotiabank Gold American Express Card
50,000 points
Up to 5 points per $1 spent
19.99%
$0 annual fee for the first year ($120 thereafter)
Min. recommended credit score: 700
Earn up to 50,000 bonus Scotia Rewards points in your first year (that's up to $500 towards travel) and no annual fee in the first year, including supplementary cards. Plus, get a 0.00% introductory interest rate on balance transfers for the first 6 months (A 1% balance transfer fee applies). Apply by November 21, 2021.
Scotiabank Passport Visa Infinite Card
40,000 points
Up to 5 points per $1 spent
19.99%
$0 annual fee for the first year ($139 thereafter)
Min. recommended credit score: 750
Earn up to 40,000 bonus Scotia Rewards points in your first year (that’s up to $400 towards travel). Plus, get the annual fee waived in the first year and earn 5x Scotia Rewards points on travel for the first 3 months (up to $2,500 spend). Apply by November 21, 2021.
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How to compare credit cards with no annual fee or foreign transaction fee

While these cards can help you cut down some of your credit card costs, there are a few other fees and features that you can compare to find the right card for you:

  • Annual fee. Does the card offer a $0 annual fee for the life of the card or is it just for a promotional period such as the first year? Make sure you confirm the details of the annual fee before you apply.
  • Purchase rate. If you’re using your card to make purchases overseas, it’s important to compare the interest rates you’ll attract if you don’t pay your account in full each billing cycle. If you do regularly pay off your balance in full, you could also compare cards by the number of interest-free days offered.
  • ATM withdrawal fees. If you use your card for ATM withdrawals, you may be charged a cash advance fee and cash advance interest rate. Some cards may also charge additional ATM withdrawal fees for overseas transactions.
  • Complimentary insurances. If your card is designed for overseas use, it could come with complimentary travel insurance coverage. Some cards also offer purchase insurance coverage and extended warranties, which could come in handy if you’re a regular spender. Make sure you check the policy terms and conditions before you apply so you understand the eligibility requirements, what is covered and how to make a claim.
  • Rewards programs. If your card offers no annual fee and no foreign transaction fees, it may not come with a rewards program. However, if you spend regularly and often pay your balance in full, the value of rewards points could outweigh annual fees and currency conversion costs.
  • Global acceptance. While Visa and Mastercard are accepted in millions of locations around the world, you should ensure that your credit card isn’t restricted by economic sanctions before you travel overseas. In addition, cards like American Express are not as widely accepted around the world.

Compare credit cards with no foreign transaction fees

How much can I save with a no annual fee and no foreign transaction fee card?

If you opt for a credit card that doesn’t charge a foreign transaction fee or an annual fee, you could significantly reduce your card costs.

Below, we’ve calculated how much you could save with a card that doesn’t charge either of these fees in comparison to a card that charges no annual fee but has a foreign transaction fee of 2.5%. Please note that we’ve assumed that you repay your balance in full each month, allowing you to avoid interest costs on either card.

No annual fee and no foreign transaction fee cardOther credit card with standard fees
Foreign transaction fee0%2.5%
Currency conversion fee0%3% of transaction value
Overseas ATM withdrawal Fee$0$3 per withdrawal
Amount of purchases made$3,000$3,000
Number of withdrawals made55
Total cost of using credit card overseas for 12 months$0$175

Rates and fees used for example purposes only.

Compare more travel rewards credit cards

Bottom line

If you find yourself overseas a lot or you’re frequently shopping online and purchasing from overseas merchants, you may benefit from a no annual fee no foreign transaction fee credit card.

Before applying for a card, carefully compare your options to find one that offers you the most benefits. You can learn more in our credit card guide here.

Frequently asked questions

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