With the exception of Capital One and Discover, all major credit card companies charge international transaction fees that range from 2-5%. However, a positive trend has been developing in this area, with more and more credit card companies offering travel focused cards that waive these fees.
Below you can compare the best credit cards that charge no foreign transaction fees and apply online.
If you have ever contested a fraudulent charge with the bank that issues your debit card, you are well aware of how complicated the process is. Not only do banks take longer to investigate claims than credit card companies, the money missing from your account is not available to you until the investigation is complete. This can be a real headache, especially if fraudulent charges have emptied your checking account.
Using a credit card abroad provides a buffer against this nightmare scenario. In the event your card is stolen and abused, you will still have access to your money in the bank. Additionally, your credit card company may also allow you access to the portion of your credit line tied up by a fraud investigation.
When traveling abroad, the safest bet is to use a credit card for all your purchases.
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