Does Chase Sapphire Preferred® waive foreign transaction fees?

Written by
Brooklyn Lowery
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Yes, the CardName discontinued waives foreign transaction fees, as do many travel rewards credit cards or those for consumers with excellent credit.

For frequent travelers, not having to pay foreign transaction fees can save you hundreds annually since the typical fee is anywhere from 3%-5% of the transaction amount in U.S. currency. At that rate, even the casual traveler will appreciate not having to budget for that extra fee while planning an international trip.

BONUS TIP!

Keep in mind that you don’t have to be overseas to be charged a foreign transaction fee. If you shop online or with vendors who process payments in a foreign currency, those pesky foreign transaction fees will show up if you aren’t using a no-foreign-transaction fee credit card.

Cards with foreign transaction fees will charge that fee regardless of where you use the card. That means that everything from your English breakfast in London to your croissant at a Parisian café to your museum admission in Brazil to your hotel in India gets whacked with a fee. Three percent may not seem like much, but it can seriously add up over a trip.

Travel experts generally agree that using a credit card while overseas is the cheapest way to fund your trip since you won’t have to deal with the fees charged at currency exchange counters. It’s also considered to be one of the most secure ways to pay for your travels since you won’t be toting around wads of cash. However, any benefits you enjoy while using a credit card internationally are diminished if you have to pay a foreign transaction fee. That’s why it’s so important to do your research and ensure you have a card that will allow you to skip that fee when you shop outside of the U.S. or in foreign currency.

 

Key takeaways

  • Chase Sapphire Preferred® is just one of several Chase cards that doesn’t charge foreign transaction fees
  • Foreign transaction fees are charged when you use your card for transactions in a currency other than U.S. dollars
  • You don’t have to be abroad to be charged foreign transaction fees; shopping online with foreign merchants can lead to those fees, too

Many credit cards these days have done away with foreign transaction fees, including more than a dozen Chase cards, geared toward both consumers and for small business owners. Some are affiliated with airlines and hotels, which will offer the frequent traveler even more comfort while abroad.

Let’s take a look at some Chase cards that waive foreign transaction fees:

Chase travel rewards cards with no foreign transaction fees

Chase offers two consumer travel rewards cards, both of which are foreign-transaction-fee free. Now, it’s important to note that there other cards in the Chase universe that earn Ultimate Rewards points and can, therefore, function as travel rewards cards. However, these cards are advertised as cash-back cards and their power as travel rewards cards is limited unless you pair them with one of Chase’s premium offerings.

CardName: Let’s start with the card that kicked off this article. The CardName, which is a top travel rewards card, has a AnnualFees annual fee.

How much can you save with a no-foreign transaction fee card?

Well, by not paying foreign transaction fees, you’d only need to spend about $3,200 outside the U.S. to offset the annual fee, compared to what you would pay if your card had a 3% foreign transaction fee ($3,200 x 3% = $96). And that’s without even taking into consideration the rewards you’ll earn that can also go toward offsetting that fee.

Cardholders earn 5X total points on all travel purchased through Chase Travel℠; 3X points on dining, including eligible delivery services and takeout; 3X points on online grocery purchases (excluding Target, Walmart and wholesale clubs); 3X points on select streaming services; 2X points on travel purchases; and 1X point on all other purchases. And there are no caps on the amount of rewards you can earn.

New cardholders are eligible for 75,000 bonus points once spending $4,000 on purchases in the first three months of account opening. Plus, your points are worth 25% more when you redeem them for travel through Chase Travel, which means 75,000 points are worth over $900 toward travel. 

CardName:discontinued You can think of this card as the CardName‘s more luxurious cousin. This card is for the person who travels more than once a year, wants luxury perks and features and doesn’t mind paying extra for those privileges. The CardName‘s annual fee is AnnualFees and there’s a $75 fee for each authorized user.

For that annual fee, you get up to $300 each account anniversary year in statement credit to cover incidental travel expenses (which, if you think about it, lowers the annual fee to a net $250). Cardholders also enjoy free airport lounge access at more than 1,000 lounges worldwide.

The card’s rewards program offers three bonus points per $1 spent on travel purchases made after you earn your $300 annual reimbursement and on dining and one point per $1 for everything else. When it’s time to redeem your points, cardholders enjoy 50% more value when you redeem for travel via the Chase Travel.

Plus, you get to rack up the points quickly. New cardholders can earn 75,000 introductory points when you spend $4,000 in the first three months. That is worth $1,125 in travel when you redeem through Chase Travel.

Chase airline rewards credit cards with no foreign transaction fees

As mentioned earlier, Chase offers numerous airlines rewards co-branded cards, many of which waive foreign transaction fees.

Here’s a look at a few of the Chase airline rewards cards that are foreign-transaction-fee free:

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Additional airline rewards cards without foreign transaction fees include:

Chase hotel rewards cards that waive foreign transaction fees

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Information related to this card has been collected by CardRatings and neither reviewed nor provided by the issuer

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Information related to this card has been collected by CardRatings and neither reviewed nor provided by the issuer

Here are some additional hotel rewards cards options from Chase that don’t charge foreign transaction fees:

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Chase small business cards that waive foreign transaction fees

Chase also offers business cards that are geared for for a variety of business types or needs, including those that require international travel. The CardNamediscontinued, for a AnnualFees annual fee, offers cardholders the chance to rack up triple the points on select business categories including travel; shipping; and advertising with social media and search engine sites, among other categories up to a cap. New cardholders can earn 100,000 bonus points when you spend $8,000 in the first three months.

You can also add employee cards at no additional cost and the card offers trip-related perks like trip cancellation and interruption insurance, trip delay insurance and auto rental collision damage waivers.

One last thing, this card offers cell phone protection for the primary number on the account, as well as all other phones on that account as long as you pay your cellular bill on the card.

If you’re looking for a cash-back business card with no foreign transaction fees, you could consider the following:

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One note for the card above, it does earn Ultimate Rewards points, but you can’t combine those points with other Ultimate Rewards-earning cards as you can with other cards in the Ink family. That limits you in terms of how you can redeem them and the value you can get. You’ll basically redeem for $.01 each, which is near the bottom in terms of value when redeeming Ultimate Rewards points.

That said, the welcome bonus is nice and with no foreign transaction fees, it could be a solid option for a business looking for healthy cash back and opportunities to purchase in foreign currencies without paying a fee.

Final thoughts

Given the breadth of options when it comes to no-foreign-transaction-fee cards with Chase, there’s likely one above that meets your needs. But if you don’t see one above that makes sense for you, don’t give up. Take a look at our picks for “Best cards with no foreign transaction fees” for some additional options from other issuers.

No matter your credit card needs, there is one for with no foreign transaction fees that can fit your lifestyle. Just remember to fully understand your financial situation and history before you apply and make sure that you pay off your balance each month so that interest charges don’t eat into that vacation fund you’re building up. Then, get ready to plan your next international getaway – without foreign transaction fees.

author
Brooklyn Lowery
Editor & Credit Card Expert

A journalist for nearly 20 years, Brooklyn has published work on a broad range of topics including personal finance and business as well as travel and human interest pieces. As a finance expert, she has provided commentary on credit cards, card rewards and personal finance...Read more

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