When you travel or shop online with an overseas business, many cards charge a foreign transaction fee of around 2–3% of the purchase amount. But credit cards with 0% foreign transaction fees waive this cost or give you a rebate, helping you save money on international transactions.
Not after a credit card? You can also get a debit card with no foreign transaction fees.
To qualify for this category, credit cards must:
We analyse 250+ credit card products and assess six features, assigning them scores out of 10. Finder Score is weighted according to their importance within the product category.
The methodology is designed by our insights and editorial team. Commercial partnerships carry no weight, all products in the database are scored objectively.
The same card will receive a different score within each category, depending on the features being assessed (e.g.Travel Credit Cards, Balance Transfer),
Our intention is to enable informed financial decision-making without the need to analyse numerous individual data points. Please do consider your own financial circumstances when making a decision.
| Feature | Definition | Assessment | Weight |
|---|---|---|---|
| Foreign Exchange Fees | Fees charge on international transactions | Lower fees score higher | 50% |
| Travel Insurance | Complimentary travel insurance | Full score for complimentary insurances | 15% |
| Overseas ATM Fees | Fees charged by card provider to withdraw from international ATMs | Lower fees score higher | 10% |
| Purchase Rate | Interest rate on new purchases | Lower rates score higher | 10% |
| First-Year Fee | Annual fee charged in the first year of ownership | Lower fees score higher. $0 fee receives the maximum points. | 7.5% |
| Ongoing Annual Fee | Annual fee charged from the second year onwards | Lower fees score higher. $0 fee receives the maximum points. | 7.5% |
How much can I save with a 0% foreign transaction fee card?It depends how much you spend overseas and the fees you would pay if you used a different card. But as an example, if you spent $2,000 on a card with a 3% international transaction fee, it would cost you $60. If you had a card with a 0% foreign transaction fee you wouldn't pay anything, so you'd save the full $60.
And if you had a credit card with a higher fee of 3.4% on international transactions, you'd save even more ($68 in this example).
Keep in mind that the cost of foreign transaction fees may not be obvious straight away, as they are added as separate transactions on your credit card account.
The Australian Competition and Consumer Commission (ACCC) has also warned people that some major online brands will charge foreign transaction fees, even if the website ends in .com.au or the price is shown in Australian dollars.
The Bankwest Zero Platinum Mastercard was named the Best Travel Credit Card at the 2024 Finder Awards. Another consecutive win for the Bankwest Zero Platinum as it offers a combination of no foreign transaction fees, no annual fee and comprehensive overseas travel insurance. Its 14.99% interest rate on purchases scored well and helped establish it as a card that travellers can use save money on a range of costs.
Certain credit cards automatically waive foreign transaction fees when you make an international purchase.
Others offer a rebate on foreign transaction fees when you meet specific requirements, such as spending a set amount per month. If that's the case, you could still be charged a fee if you don't meet the requirements.
Annual fees typically range from $29 to $400 or more for higher-end cards. You can weigh this cost against the value you'd get from 0% foreign transaction fees and any other perks to help choose a card.
If the 0% foreign fee savings aren't as much as you thought, you could be better off comparing $0 annual fee credit cards. You could also consider a card that offers both no foreign transaction fees and no annual fee, although there are only a few of these on the market.
Interest rates on these cards range from around 10% to 27% for purchases. If you pay off your credit card as you go – or pay the total by the due date on your statement – you'll typically get interest-free days on your purchases.
But if you end up carrying over a balance, a low rate credit card could be a more cost-effective option.
Some cards offer additional perks when you're travelling, which can include:
If there's another benefit you want, you could use Finder's table filters to narrow down your comparison of 0% foreign transaction fee cards. Just make sure you check what requirements you need to meet to use the perks.
Australian credit cards offer zero liability for fraudulent transactions and 24-hour emergency support services. Most also offer fraud-monitoring services.
Other security features can include virtual cards, transaction limits for overseas spending, temporary account blocks and extra online security through Visa Secure, Mastercard SecureCode or American Express SafeKey.
Overseas ATM fees typically cost around $5 or between 2-3% of the total transaction. And that's not including any charges added by the overseas ATM operator.
There are credit cards that offer $0 international ATM withdrawals, but keep in mind that you'll still pay cash advance fees and any third-party charges.
When you use a credit card to withdraw cash, buy foreign currency or make any other cash advance transaction, you'll pay a fee worth around 2-4% of the transaction. You'll also be charged interest at the cash advance rate, which is higher than the purchase rate on most credit cards.
If you need to get cash when you're overseas, you can avoid these costs by using a debit card or prepaid travel card instead.
The range of credit cards that offer no foreign transaction fees means it's worth looking for other features that you want on your credit card. For example frequent flyer points, 0% interest rate offers, cashback bonuses or something else. The key is to find a card with features that add value when you're shopping in Australia and overseas.
When you're planning to use your card overseas spending, keep the following details in mind:
Graham heads Finder's insights team and specialises in a variety of financial topics, including credit cards, loans, insurance and investing. He regularly appears on TV including ABC News, Sunrise and Today, and edits Finder's Insights column.
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Hi there,
Im travelling to Ireland and the UK for three weeks and would like a small amount credit card just in case i need more funds.
Hi Ladasedlar,
Thank you for your inquiry.
If you are about to travel overseas you may want to consider the following options.
1. Travel Money Guide: Ireland
2. Travel Money Guide: UK
I hope this information has helped.
Cheers,
Harold
Is there a ATM withdrawal fee for 28 Degrees MasterCard from an ATM in the US? Can I withdraw from any ATMs in US? Thanks.
Hi Yong,
Thank you for your enquiry.
There’s no ATM withdrawal fee with 28 Degrees MasterCard when used with ATMs with the MasterCard logo anywhere in the world. Please note though that there would be a cash advance fee of $4 or 3% of the cash advance (whichever is greater) when you withdraw cash from an ATM with this card.
If you wish to learn more, you can also read our review about 28 Degrees MasterCard.
Kind regards,
Jason
I am tossing up between Bankwest and 28 degrees both have some good and bad reviews. Does the Bankwest charge the payment fee that everyone seems to be complaining about 95c to make a payment?
Hi Narelle,
Thanks for your question.
No, Bankwest does not charge you a fee when making payments for your credit cards bills.
Cheers,
May
We are Canadians travelling to Australia & New Zealand. I am confused about wether it is more advantageous to use a Canadian credit card or a U.S. dollar credit card in these countries. Both cards have no currency surcharge transaction fee. They are both Mastercards. I believe the exchange rate is more favourable for the Candian dollar.
Hi Brenda,
Thank you for your comment.
Just to confirm that the credit cards we feature on our site are available to people in Australia only.
As for your cards issued in Canada and in the US, since those cards have a MasterCard logo, most likely, those can be used in any ATM in Australia and New Zealand that accepts MasterCard. Though please note that you have to contact your issuing banks to verify the other possible fees they charge when you use them overseas.
Cheers,
May
Why do 28deg M/C charge above M/Cards’s exchange rate.When they claim no currency conversion fees?
Hi Dan,
Thanks for your question.
The cards don’t charge a currency conversion fee, but your funds will still be impacted by the exchange rates in place if you spend in a foreign currency. So while you might not be charged an additional fee when making a purchase in a foreign currency, your funds will be exchanged in accordance with the exchange rate that is in place.
I hope this has helped.
Cheers,
Sally