This question is about Bank of America Credit Cards How much is the Bank of America foreign transaction fee?
@sebim • 06/08/22 This answer was first published on 01/29/21 and it was last updated on 06/08/22.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial
and user-generated content is not provided, reviewed or endorsed by any company. The Bank of America foreign transaction fee is either 3% or 0% of the converted US dollar amount of all international transactions, depending on the BofA card. Bank of America credit cards with 0% foreign transaction fees include the Bank of
America® Premium Rewards® credit card and the Bank of America® Travel Rewards credit card. No foreign fee Bank of America cards clearly are a better choice for international spending than the ones with a 3% surcharge for everything you buy abroad. That’s actually one of the highest foreign fees on the market. So international shoppers need to be careful when picking a Bank of America
credit card and perhaps consider cards from other issuers too. At 3%, the Bank of America foreign transaction fee is too steep for anyone planning to make international purchases. But the cards that charge it are
meant more for everyday spending than travel. The good news is there are a handful of foreign fee-less alternatives. Sebi Mitchell, Credit Cards Moderator
Best Bank of America credit cards with no foreign transaction fees:
Keep in mind that more and more cards from other issuers are shedding their foreign fees. So, if you’re not loyal to Bank of America, you can check out our editors’ latest picks for the best no foreign transaction fee credit cards to weigh your options.
Chris Kohl, Member
@kohl_chris • 03/20/18 This answer was first published on 03/20/18. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
My Bank of America® Customized Cash Rewards credit card has 3%, but I'm always careful where I use it. If you're looking for a BoA card with no FTF's, I know the Bank of America® Travel Rewards credit card doesn't have any.
Answer Question
People also ask
How much are Visa foreign transaction fees?
The Visa foreign transaction fee is usually either 0% or 3%, depending on which Visa credit card or debit card you have. The Visa foreign transaction fee is typically 0% on travel rewards credit cards, which are built for spending all around the world. And some credit card companies, such as Capital One, don’t charge foreign fees on any of their cards, Visa or Mastercard. But many other Visa cards come with foreign transaction fees of 1%, 2% or even 3%. … read full answer
If your Visa card does have a foreign transaction fee, you’ll have to pay it any time you make a purchase from a merchant that’s based in a country other than the U.S. So that means it applies to online purchases, too.
While it’s difficult to list every Visa’s foreign transaction fee – the are a ton of Visa cards – we can go over a few popular examples.
Here are some Visa foreign transaction fees:
- All Capital One Visa cards: $0 foreign fee
- All USAA Visa cards: 0% foreign fee
- All PenFed Visa cards: 0% foreign fee
- Chase Sapphire Preferred® Card: $0 foreign fee
- Bank of America® Travel Rewards Credit Card for Students: 0% foreign fee
- Bank of America® Premium Rewards® credit card: 0% foreign fee
- Chase Freedom Unlimited®: 3% of each transaction in U.S. dollars foreign fee
- Wells Fargo Reflect® Card: 3% foreign fee
- Credit One Bank® Platinum Visa®: 3% or $1, whichever is greater foreign fee
As you can see, there are a lot of opportunities to get a Visa card with no foreign transaction fee. That’s definitely a good idea before traveling (or shopping) abroad, since Visa is accepted just about everywhere that takes credit cards worldwide.
show less
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Did we answer your question?
Sorry! How can we improve this answer?