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In a world where international transactions are increasingly common, business credit cards with no foreign transaction fees have become essential for globally-minded entrepreneurs. The best business cards without foreign transaction fees eliminate the typical 3% to 5% foreign transaction fee and often come with added benefits such as travel rewards, expense tracking and other business-oriented features. These cards cater specifically to businesses that engage in international commerce, travel or deal with foreign clients and suppliers, offering significant cost savings and convenience for transactions made in foreign currencies or outside the U.S.
If your business crosses borders or deals with foreign suppliers and clients, this type of credit card could be your key to more streamlined and cost-effective financial management. Let's delve into the characteristics that make these cards an essential tool for the globally-minded business owner and how to find the one that fits your business's unique needs.
Best Business Credit Cards with No Foreign Transaction Fees
Business credit cards that exclude foreign transaction fees can make a considerable difference for your business. The following cards cater to the nuanced needs of the international entrepreneur, simplifying cross-border transactions and adding value in unexpected ways.
Why You Can Trust Our List
- The Business Platinum Card® from American Express
Top-tier business card with premium travel benefits
- 1–5 Points per $1*Rewards Rate
- 19.49% – 27.49% VariableAPR
- $695Annual Fee
- Good–ExcellentRecommended Credit
- American Express® Business Gold Card
A dynamic rewards card for high-spending business owners
- 1–4 Points per $1Rewards Rate
- 19.49% – 27.49% VariableAPR
- $295Annual Fee
- Good–ExcellentRecommended Credit
- Capital One Spark Miles for Business
Best flat-rate rewards card for frequent travelers
- 2 Miles per $1Rewards Rate
- 26.24% VariableAPR
- $95 ($0 first year)Annual Fee
- Good–ExcellentRecommended Credit
- Capital One Spark Cash Select for Excellent Credit
A great no-annual-fee business card with 1.5% cash back
- 1.5% Cash BackRewards Rate
- 18.49% – 24.49% VariableAPR
- $0Annual Fee
- ExcellentRecommended Credit
- Costco Anywhere Visa® Business Card by Citi
An excellent no-annual-fee rewards card for Costco members
- 1–4% Cash Back*Rewards Rate
- 20.49% VariableAPR
- $0Annual Fee
- ExcellentRecommended Credit
- Ink Business Preferred® Credit Card
Great for big welcome offer and ongoing rewards
- 1–3 Points per $1Rewards Rate
- 21.24% – 26.24% VariableAPR
- $95Annual Fee
- Good–ExcellentRecommended Credit
- Capital One Spark Cash Plus
Generous flat-rate cash back on business expenses
- 2% Cash BackRewards Rate
- None (charge card)APR
- $150Annual Fee
- ExcellentRecommended Credit
- Marriott Bonvoy Business® American Express® Card
Great for hotel rewards and perks for business spending
- 2–6 Points per $1*Rewards Rate
- 20.99% – 29.99% VariableAPR
- $125Annual Fee
- Good–ExcellentRecommended Credit
- The Hilton Honors American Express Business Card
Great for earning Hilton Honors points
- 3–12 Points per $1*Rewards Rate
- 20.99% – 29.99% VariableAPR
- $95Annual Fee
- Good–ExcellentRecommended Credit
- United℠ Business Card
Solid travel card for United fans
- 1–2 Miles per $1*Rewards Rate
- 21.74% – 28.74% VariableAPR
- $99Annual Fee
- Good–ExcellentRecommended Credit
- Delta SkyMiles® Platinum Business American Express Card
A great card for frequent business travelers who want to enjoy Delta travel perks and pursue elite traveler status
- 1–3 Miles per $1Rewards Rate
- 20.99%–29.99% VariableAPR
- $250Annual Fee
- Good–ExcellentRecommended Credit
- World of Hyatt Business Credit Card
Lucrative rewards for World of Hyatt members
- 1–9 PointsRewards Rate
- 21.49% – 28.49% VariableAPR
- $199Annual Fee
- Good–ExcellentRecommended Credit
- Delta SkyMiles® Gold Business American Express Card
Great rewards for Delta loyalists
- 1–2 Miles per $1Rewards Rate
- 20.99% – 29.99% VariableAPR
- $99Annual Fee
- Good–ExcellentRecommended Credit
What Is a Business Credit Card With No Foreign Transaction Fees?
These business credit cards eliminate the standard additional fees for transactions made in a foreign currency or outside the U.S and are a valuable tool for businesses engaging in international commerce or travel.
A typical business credit card charges a foreign transaction fee, often around 3%-5%, to cover currency conversion and other related costs. A business credit card with no foreign transaction fees waives this charge, directly translating into cost savings. By aligning with the specific needs of international business operations, this type of credit card minimizes unnecessary expenses. It can be a strategic financial tool for businesses that frequently interact with foreign markets.
Benefits of a Business Card with No Foreign Transaction Fees
Cost Savings
While no foreign transaction fees translate to savings on international purchases, it's crucial to remember that these savings might not be substantial if your business doesn't engage in international transactions frequently. Therefore, businesses with regular international dealings will gain the most from this feature. Also, compare these savings with potential costs like higher interest rates or annual fees to get a comprehensive cost understanding.
Convenience
A significant advantage of a no-foreign-transaction-fee card is the ease of making purchases abroad without worrying about additional charges. To put it in context, imagine needing to make an emergency purchase while on a business trip abroad — this card protects you from unexpected fees. However, bear in mind that not all foreign vendors accept all types of credit cards, which could potentially limit convenience.
Business Features
While many business credit cards, not just those with no foreign transaction fees, offer perks like expense tracking and rewards for common business purchases, it's how these features interact with the no foreign transaction fee feature that can give you a unique edge. For instance, a reward system that offers extra points for international spending can double your benefits — saving on fees while earning rewards.
Travel Rewards
Many of these cards offer travel-related rewards for businesses, which sync well with the absence of foreign transaction fees for companies operating internationally. However, these rewards often come with specific usage criteria, so make sure to understand the terms. If your business involves little travel, consider cards offering rewards more aligned with your spending patterns, like cashback on office supplies or utilities.
Who Should Get a Business Card Without Foreign Transaction Fees?
Deciding whether a business credit card with no foreign transaction fees is right for your company isn't a one-size-fits-all choice. It involves understanding the nuanced dynamics of your specific business operations, international dealings, financial goals and even the roles of individuals within your organization. Below, we delve into the diverse scenarios and factors that can help you determine if this financial tool aligns with your business's needs or if other options might be more suitable.
Who Should Consider Applying
- International Business Owners: The fee savings can be considerable if your business regularly deals with international clients or suppliers. This includes large corporations and small and medium enterprises sourcing materials or selling products globally.
- Frequent Business Travelers: Those who travel abroad for business regularly can save on foreign fees and often leverage travel rewards. From executives to sales representatives — anyone who often finds themselves overseas for work can benefit.
- Businesses with Indirect International Interactions: You might still benefit even if your business doesn't directly engage with foreign clients or suppliers. The lack of foreign transaction fees can still be advantageous if you work through intermediaries importing goods or utilizing international services.
- International Employers: Different industries and roles within a company might find this feature appealing. For example, a marketing firm that hires foreign freelancers or an IT company that buys software licenses abroad.
BE AWARE OF HIDDEN COSTS
While the absence of foreign transaction fees can lead to savings, it's essential to assess the overall cost structure of the card. Some cards may compensate for this benefit with higher annual fees, interest rates or other hidden charges.
Who Should Consider Other Cards
- Domestic-Only Business Owners: If your business dealings are strictly within your home country, the main benefit of no foreign transaction fees may not apply. However, don't overlook other card perks that align with your business needs, such as cashback or specific rewards.
- Infrequent Travelers: If foreign transactions are rare in your business model, this feature might not be as beneficial, and other card types focusing on lower interest rates or domestic rewards might be more suitable.
How to Make the Most of No Foreign Transaction Fees
Optimizing a business credit card with no foreign transaction fees goes beyond merely enjoying the absence of additional charges on international purchases. Whether you frequently engage with international suppliers or travel abroad for business, understanding how to leverage the various perks, monitor expenses and integrate the card into your financial management can lead to substantial savings and convenience.
Understand Your Needs
When selecting a business credit card with no foreign transaction fees, it's vital to fully understand the nature and scope of your international business dealings. Consider the following:
- Frequency of Transactions: If your business regularly engages with foreign suppliers or clients, the savings from no foreign transaction fees can be substantial.
- Types of Purchases: Analyze the regular purchases made abroad, such as equipment or services, to see how the card's benefits align with your spending habits.
- Interest Rates and Credit Limits: Evaluate these aspects to ensure they match your business's cash flow and credit needs.
- Integration with Financial Management Systems: Check if the card offers features that can integrate with your existing financial software for seamless tracking.
Leverage Other Perks
Many of these cards come with additional benefits. To truly optimize the use of your card, align these perks with your business activities:
- Identify Relevant Rewards: Analyze which rewards align with your spending patterns, such as travel rewards for frequent international trips or cashback on specific purchases.
- Understand the Interaction with No Foreign Transaction Fees: Evaluate how these perks complement the foreign transaction fee waiver. For instance, travel rewards offer even more value if you are frequently abroad for business.
An international sales company might leverage travel rewards to further reduce the costs of flights and accommodations, on top of the savings from no foreign transaction fees.
GET STRATEGIC WITH REWARDS
Utilize your no foreign transaction fee credit card strategically by aligning it with your specific international business activities. Consider the timing of payments, alignment with reward categories and even the combination of cards to maximize benefits. For instance, use the card primarily for foreign transactions that align with specific reward categories (such as travel or purchases from international vendors) to get the most value from your card's unique features.
Monitor Expenses
Monitoring expenses is vital to any business, but it becomes even more pertinent with international spending. Here's how you can optimize this process:
- Use the Card's Tracking Features: Many cards offer tools that categorize expenses, aiding financial planning and budgeting. This feature is particularly useful in tracking and converting foreign transactions.
- Align with Budgeting Goals: Regularly monitor your international spending against budgeting targets to avoid unnecessary costs.
- Analyze Spending Patterns: Regularly review and analyze your spending patterns. This will help keep a close eye on your expenses and identify areas for additional savings or rewards optimization.
Alternatives to Consider
Choosing the right business credit card depends on your specific needs and situation. Consider the following scenarios to guide your decision:
Cash Back Business Cards: If your business spending is mainly within your home country, a card that offers a percentage back on business-related expenses could work better for you. For instance, comparing cards that provide cashback on fuel vs. office supplies can ensure you select one that aligns with your main spending categories.
Low-Interest Business Cards: If you often carry a balance from month to month, a card offering low or zero interest for an introductory period could provide financial relief. Consider interest rates that might increase after the introductory period and plan accordingly.
Cards with Specific Perks: Consider cards with specific perks, such as bonuses on office supplies, hotels or gas. By analyzing your spending patterns and aligning them with cards offering rewards in those areas, you can find an option tailored to your needs.
Next Steps
In today's globalized business environment, transactions across borders are routine, necessitating efficient financial management. Business credit cards with no foreign transaction fees offer a significant advantage, eliminating common additional charges on international purchases. These specialized cards are more than just cost-saving; they often include features like travel rewards, expense tracking and other benefits tailored to business needs.
FAQs About Business Credit Cards with No Foreign Transaction Fees
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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.