No foreign transaction fee credit cards

Compare credit cards that don't charge the typical 2-3% foreign transaction fee when shopping overseas or transacting with overseas online retailers.

By   |   Verified by David Boyd   |   Updated 1 Jun 2023

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Comparing no foreign transaction fee credit cards

Bankwest Zero Platinum Mastercard

On website

Featured

Bankwest Zero Platinum Mastercard

Foreign exchange fee

N/A

Purchase rate

14.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • No annual fee.
  • 0% p.a. for 34 months on balances transferred (2% balance transfer fee applies). Reverts to 14.99% p.a. thereafter.
  • No foreign transaction fees and complimentary international credit card travel insurance.
  • New customers only. Limited time. Other fees and charges, T&Cs apply.

Pros

  • No annual fee to pay — ever.
  • Very long interest-free balance transfer offer.
  • No fees on purchases in a foreign currency.
  • Complimentary international travel insurance.

Cons

  • There is a 2% fee on balance transfers.
  • You can't earn rewards points.
Bankwest Breeze Platinum Mastercard

On website

Bankwest Breeze Platinum Mastercard

Foreign exchange fee

N/A

Purchase rate

15 months at 0% p.a.

Annual fee

$0.00 for 1st year

Highlights

  • Enjoy 0% p.a. on balance transfers for 15 months (2% BT fee, 12.99% p.a. thereafter).
  • 0% p.a. for 15 months on purchases (reverts to 12.99% p.a.)
  • First-year annual fee waiver. $69 p.a. thereafter.
  • New customers only. Limited time. Other fees and charges, T&Cs apply.

Pros

  • 0% p.a. on balance transfers for 15 months.
  • 0% p.a. for 15 months on purchases.
  • First-year annual fee waiver. $69 p.a. thereafter.
  • No foreign transaction fees.

Cons

  • There is no rewards program on this card.
  • There is a 2% BT fee.
NAB StraightUp Credit Card

NAB StraightUp Credit Card

Foreign exchange fee

N/A

Purchase rate

0% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • Get the newest credit card from NAB - simple, cheap and most of all no interest charges!
  • No Use, No Pay. If you don't use your NAB StraightUp credit card during the whole statement period, the monthly fee will be reversed. No surprise charges!
  • Use your card to pay foreign currency and enjoy no foreign transaction fees!
  • Predictable fixed minimum payments based on your credit limit, giving you certainty of what to pay each month.

Pros

  • Charges a monthly fee based on your selected credit limit.
  • The monthly fee will be reversed if you do not have any outstanding balance or purchase.
  • No interest charges or other fees, including foreign currency fees and late payment fees.

Cons

  • No rewards program for this card.
  • No balance transfers or cash advances.
Latitude 28° Global Platinum Mastercard®

Latitude 28° Global Platinum Mastercard®

Foreign exchange fee

N/A

Purchase rate

21.99% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • $0 annual fee.
  • No currency conversion fees.
  • No foreign transaction fees on purchases when travelling or shopping online.
  • 22.99% p.a. interest rate on purchases and cash advances.

Pros

  • The $0 annual fee.
  • No currency conversion free or foreign transaction fee.
  • Enjoy up to 55 days interest-free on purchases.
  • Free Global Wi-Fi at more than 1 million hotspots worldwide.

Cons

  • A high purchase interest rate of 22.99% p.a.
  • There is no rewards program on this card.
  • In-person payment handling fees of $2.50 is expected to increase to $3.95.
Coles Rewards Mastercard

Apply by 31 July 2023

Coles Rewards Mastercard

Foreign exchange fee

N/A

Purchase rate

19.99% p.a. ongoing

Annual fee

$99.00 p.a. ongoing

Highlights

  • Get up to 100,000 Flybuys bonus points. Get 60,000 Flybuys bonus points when you spend $4,000 or more on eligible purchases within 90 days of approval, plus 40,000 Flybuys bonus points when you keep your card for over 12 months. Terms and Conditions apply.
  • Enjoy 0% p.a. on balance transfer for 12 months. Reverts to the cash advance rate of 19.99% p.a.
  • Collect 2 points per $1 on eligible spend – that’s on top of the usual Flybuys Points from other partners.
  • $0 international transaction fees for purchases made online or overseas.

Pros

  • Get up to 100,000 Flybuys bonus points when you meet the criteria.
  • 12 months at 0% p.a. for balance transfers.
  • Collect 2 points per $1 on eligible spend – that’s on top of the usual flybuys points from other partners.
  • Access to the Coles concierge service.

Cons

  • The annual fee of $99 p.a.
  • No international travel insurance.

Learn about no foreign transaction fee credit cards

Find out how to save money and avoid unnecessary fees on overseas purchases.

  • FAQs

Are there any other foreign fees?

Yes, unfortunately there are.

  • Overseas ATM Balance Fee: Charged every time you check your credit card’s balance using an ATM while overseas.
  • Overseas ATM Withdrawal Fee: Charged every time you withdraw cash from your credit card account from an ATM while overseas.
  • Overseas Cash Advance Fee: Charged every time you withdraw cash from your credit card account while overseas (in addition to the base cash advance rate).
  • Overseas Emergency Card Replacement Fee: Charged if you request a replacement credit card if lost or stolen while overseas.

Does the foreign transaction fee cost more than the foreign exchange fee?

No, it generally doesn’t. Typically foreign transactions are charged a flat fee of 1-3% on the total purchase. The foreign exchange fee is typically in the range of 3%, although this varies from bank to bank.

Is the foreign transaction fee the same thing as the foreign exchange fee?

No. These are two separate fees. Not all banks charge both.

  • The foreign transaction fee is levied on transactions that originate overseas.
  • The foreign exchange fee applies to transactions that are billed in a foreign currency, e.g. GBP, USD, EUR, etc.

Check what you would be charged for either because it is possible that a no foreign transaction fee card may still charge a foreign currency exchange fee.

Even if a no foreign transaction fee card did charge a foreign exchange fee, it would still be cheaper than a card that levied fees on both.

What is the foreign transaction fee?

It depends. If you are shopping from a UK online store while in Australia, then you will be charged a foreign transaction fee unless you are using a credit card with no foreign transaction fee. If you are on an overseas holiday and use a credit card that does have a foreign transaction fee, then you will be charged for any foreign transactions made while abroad. So, it really depends on the card you have.

It’s important to note that if you are purchasing something overseas or buying from an overseas e-commerce store, you may still be charged a foreign exchange fee.

What would I be charged to withdraw a cash advance from an overseas ATM using my credit card?

This works out to be extremely expensive and should be avoided unless absolutely necessary.

  • Overseas ATM Fee: Typically around $5 per withdrawal, unless you are using an ATM with which your bank has an alliance with.
  • Cash Advance Rate: The base rate of interest for cash advances would be applied, which is typically around 22%.
  • Overseas Cash Advance Fee: Charged in addition to the base cash advance rate.
  • Foreign Exchange Fee: Because you probably will not be able to withdraw AUD.